CFA Program Curriculum 2020 Level III, Volumes 1 - 6

Apply CFA Program concepts and skills to real-world wealth and portfolio management for the 2019 exam

The same official curricula that CFA Program candidates receive with program registration is now publicly available for purchase. CFA Program Curriculum 2020 Level III, Volumes 1-6 provides complete, authoritative guidance on synthesizing the entire CFA Program Candidate Body of Knowledge (CBOK) into professional practice for the 2020 exam. This book helps you bring together the skills and concepts from Levels I and II to formulate a detailed, professional response to a variety of real-world scenarios. Coverage spans all CFA Program topics and provides a rigorous treatment of portfolio management, all organized into individual study sessions with clearly defined Learning Outcome Statements. Visual aids clarify complex concepts, and practice questions allow you to test your understanding while reinforcing major content areas.

Levels I and II equipped you with foundational investment tools and complex analysis skill; now, you'll learn how to effectively synthesize that knowledge to facilitate effective portfolio management and wealth planning. This study set helps you convert your understanding into a professional body of knowledge that will benefit your clients' financial futures.

• Master essential portfolio management and compliance topics
• Synthesize your understanding into professional guidance
• Reinforce your grasp of complex analysis and valuation
• Apply ethical and professional standards in the context of real-world cases
  CFA Institute promotes the highest standards of ethics, education, and professional excellence among investment professionals. The CFA Program curriculum guides you through the breadth of knowledge required to uphold these standards. The three levels of the program build on each other. Level I provides foundational knowledge and teaches the use of investment tools; Level II focuses on application of concepts and analysis, particularly in the valuation of assets; and Level III builds toward synthesis across topics with an emphasis on portfolio management.

CFA Institute is the global association of investment professionals that sets the standard for professional excellence and credentials. The organization is a champion for ethical behavior in investment markets and a respected source of knowledge in the global financial community. The end goal: to create an environment where investors' interests come first, markets function at their best, and economies grow. CFA Institute has more than 155,000 members in 165 countries and territories, including 150,000 CFA® charterholders, and 148 member societies. For more information, visit www.cfainstitute.org.

Autorentext
CFA Institute is the global association of investment professionals that sets the standard for professional excellence and credentials. The organization is a champion for ethical behavior in investment markets and a respected source of knowledge in the global financial community. The end goal: to create an environment where investors' interests come first, markets function at their best, and economies grow. CFA Institute has more than 155,000 members in 165 countries and territories, including 150,000 CFA® charterholders, and 148 member societies. For more information, visit www.cfainstitute.org.

Zusammenfassung

All CFA® Program exams through November 2021 will reflect the 2020 curriculum. Purchase your copy and begin studying for Level III now!

The CFA*® Program Curriculum 2020 Level III Box Set* provides candidates and other motivated investment professionals with the official curriculum tested on the Level III CFA exam. This box set covers all the content Chartered Financial Analyst® candidates are expected to know for the Level III exam, including essential instruction on the 10 core topics in the Candidate Body of Knowledge (CBOK).

The Level III CFA® Program Curriculum is designed to help candidates synthesize the skills explored in Levels I and II, so you can develop a detailed, professional response to a variety of real-world scenarios analysts face in the industry. Successful Level III CFA® candidates will be able to facilitate effective portfolio and wealth management strategies using the content covered in this set.

The CFA® Program Curriculum 2020 Level III Box Set provides a rigorous treatment of portfolio management and is organized into individual study sessions with clearly defined Learning Outcome Statements. You will:

• Master essential portfolio management and compliance topics
• Synthesize your understanding into professional guidance
• Reinforce your grasp of complex analysis and valuation
• Apply ethical and professional standards in the context of real-world cases
  Perfect for anyone considering the CFA® designation or currently preparing for a 2021 exam window, the 2020 Level III Box Set is a must-have resource for applying the skills required to become a Chartered Financial Analyst®.

Inhalt

How to Use the CFA Program Curriculum vii

Curriculum Development Process vii

Organization of the Curriculum viii

Features of the Curriculum viii

Designing Your Personal Study Program ix

Feedback xi

Ethical and Professional Standards

Study Session 1 Ethical and Professional Standards (1) 3

Reading 1 Code of Ethics and Standards of Professional Conduct 5

Preface 5

Evolution of the CFA Institute Code of Ethics and Standards of

Professional Conduct 6

Standards of Practice Handbook 6

Summary of Changes in the Eleventh Edition 7

CFA Institute Professional Conduct Program 9

Adoption of the Code and Standards 10

Acknowledgments 10

Ethics and the Investment Industry 11

Why Ethics Matters 11

CFA Institute Code of Ethics and Standards of Professional Conduct 15

Preamble 15

The Code of Ethics 15

Standards of Professional Conduct 16

Reading 2 Guidance for Standards IVII 21

Standard I: Professionalism 21

Standard I(A) Knowledge of the Law 21

Guidance 21

Recommended Procedures for Compliance 26

Application of the Standard 27

Standard I(B) Independence and Objectivity 30

Guidance 30

Recommended Procedures for Compliance 35

Application of the Standard 36

Standard I(C) Misrepresentation 43

Guidance 43

Recommended Procedures for Compliance 46

Application of the Standard 48

Standard I(D) Misconduct 53

Guidance 53

Recommended Procedures for Compliance 54

Application of the Standard 54

Standard II: Integrity of Capital Markets 56

Standard II(A) Material Nonpublic Information 56

Guidance 56

Recommended Procedures for Compliance 60

Application of the Standard 63

Standard II(B) Market Manipulation 68

Guidance 68

Application of the Standard 69

Standard III: Duties to Clients 73

Standard III(A) Loyalty, Prudence, and Care 73

Guidance 73

Recommended Procedures for Compliance 77

Application of the Standard 78

Standard III(B) Fair Dealing 82

Guidance 82

Recommended Procedures for Compliance 84

Application of the Standard 86

Standard III(C) Suitability 90

Guidance 90

Recommended Procedures for Compliance 93

Application of the Standard 94

Standard III(D) Performance Presentation 97

Guidance 97

Recommended Procedures for Compliance 98

Application of the Standard 98

Standard III(E) Preservation of Confidentiality 101

Guidance 101

Recommended Procedures for Compliance 103

Application of the Standard 103

Standard IV: Duties to Employers 105

Standard IV(A) Loyalty 105

Guidance 105

Recommended Procedures for Compliance 109

Application of the Standard 109

Standard IV(B) Additional Compensation Arrangements 116

Guidance 116

Recommended Procedures for Compliance 116

Application of the Standard 116

Standard IV(C) Responsibilit…