2002年 CFA Level I考试內容

1.Ethical and Professional Standards
→Applicable laws and regulations
→Professional standards of practice
→Ethical conduct and professional obligations
→Global differences 

2.Quantitative Methods
→Basic concepts
→Required input variables for valuation models
→Time value of money
→Basic statistical concepts
→Probability theory and concepts
→Random variables
→Probability distributions
→Sampling theory and distributions
→Statistical inference
→Regression and correlation
→Decision making under uncertainty
→Time-series analysis and forecasting
→Multivariate techniques

3.Economics
→microeconomics
→Macroeconomics
→International financial systems
→Perfect markets
→Imperfect markets
→Relationship of economic activity to investment process
→Relationship of macro- and microeconomic expectations to expected returns and risks for asset classes
→Currency (foreign exchange) markets

4.Financial Statement Analysis
→Financial statements and other required disclosures
→Specific accounting principles and practices
→Ratio and financial analysis
→Short-term financing decisions
→Cash and liquidity management
→Credit and inventory management

5.Corporate Finance
→Basic concepts of corporate finance
→Capital investment decisions
→Long-term financing decisions
→Mergers and acquisitions

6.Analysis of Debt Investments
→Characteristics of debt markets
→Market structures
→Alternative bond types
→Structural features of debt markets
→Term structure analysis
→Yield spread analysis
→Sources of risk
→Return or yield measures
→Option-free bonds
→Analysis of bonds with embedded options
→Analysis of municipal bonds
→Analysis of structured securities: mortgage-backed
→Analysis of structured securities: asset-backed
→Analysis of structured securities: structured notes
→Credit analysis for corporate bonds

7.Analysis of Equity Investments
→Characteristics of financial markets
→Market structures
→Market organizations
→Structural features of financial markets
→Equity markets and instruments
→Fundamental analysis
→Technical analysis

8.Analysis of Derivatives
→Options markets
→Futures markets
→Swap markets
→Analysis of fixed-income derivatives
→Custom interest rate agreements
→Analysis of interest rate swaps
→Analysis of equity options
→Analysis of warrants
→Hedging and hedging strategies

9.Analysis of Alternative Investments
→Analysis of real estate investments
→Real estate portfolio management
→Analysis of private equity
→Special applications of fundamental analysis
→Hedge funds and other alternative investments

10.Portfolio Management
→Efficient market theory
→Portfolio theory
→Asset pricing theories and models
→Portfolio management policies for individual investors
→Mutual funds
→Portfolio management policies for institutional investors
→Capital market expectations
→Asset allocation
→General portfolio construction and revision
→Fixed income portfolio management strategies
→Equity portfolio management strategies
→Risk measurement and management
→Currency portfolio management strategies

11.Performance Measurement and Presentation
→Performance measurement
→Performance attribution analysis
→Standards for presentation of investment results