2013 cfa level 2 schweser study notes

... Study Session 12- Equity Investments: Valuation Models 106 Self-Test - Equity Investments 266 Formulas 271 lndex 276 Trang 3©20 12 Kaplan, Inc All rights reserved Published in 20 12 ... 20 12 by Kaplan Schweser Printed in the United States of America ISBN: 978-1-4277-4245-2 I 1-4277-4245-6 PPN: 3200-2851 If this book does not have the hologram with the Kaplan Schweser logo on ... The Schweser Notes should be used in conjunction with the original readings as set forth by CPA Institute in their 2013 CPA Level II Study Guide The information contained in these Notes covers

Ngày tải lên: 20/12/2013, 10:13

... Published in 2012 by Kaplan Schweser Printed in the United States of America ISBN: 978-1-4277-4261-2 I 1-4277-4261-8 PPN: 3200-2853 If this book does not have the hologram with the Kaplan Schweser ... The Schweser Notes should be used in conjunction with the original readings as set forth by CFA Institute in their 2013 CFA Level II Study Guide The information contained in these Notes covers ... 146 Study Session 18- Portfolio Management: Capital Market Theory and the Portfolio Management Process 149 Self-Test - Portfolio Management 242 Formulas 245 Index 250 Trang 3©20 12 Kaplan,

Ngày tải lên: 20/12/2013, 10:16

... ⾦金金程教育 Trang 21⾦金金程教育 ⾦金金程教育 Trang 22⾦金金程教育 ⾦金金程教育 Trang 23⾦金金程教育 ⾦金金程教育 Trang 24⾦金金程教育 ⾦金金程教育 Trang 25⾦金金程教育 ⾦金金程教育 Trang 26⾦金金程教育 ⾦金金程教育 Trang 27⾦金金程教育 ⾦金金程教育 Trang 28⾦金金程教育 ⾦金金程教育 Trang 29⾦金金程教育 ... Trang 121⾦金金程教育 ⾦金金程教育 Trang 122⾦金金程教育 ⾦金金程教育 Trang 123⾦金金程教育 ⾦金金程教育 Trang 124⾦金金程教育 ⾦金金程教育 Trang 125⾦金金程教育 ⾦金金程教育 Trang 126⾦金金程教育 ⾦金金程教育 Trang 127⾦金金程教育 ⾦金金程教育 Trang 128⾦金金程教育 ⾦金金程教育 Trang 129⾦金金程教育 ... Trang 200⾦金金程教育 ⾦金金程教育 Trang 201⾦金金程教育 ⾦金金程教育 Trang 202⾦金金程教育 ⾦金金程教育 Trang 203⾦金金程教育 ⾦金金程教育 Trang 204⾦金金程教育 ⾦金金程教育 Trang 205⾦金金程教育 ⾦金金程教育 Trang 206⾦金金程教育 ⾦金金程教育 Trang 207⾦金金程教育 ⾦金金程教育

Ngày tải lên: 05/09/2018, 17:07

... UTCOME S TATEMENTSEquity, CFA Program Curriculum, Volume 4, Level II (CFA Institute, 2016) 27 Equity Valuation: Applications and Processes (page 1) 28 Return Concepts (page 13) STUDY SESSION 10 Reading ... A ssignments Equity, CFA Program Curriculum, Volume 4, Level II (CFA Institute, 2016) 29 Industry and Company Analysis (page 35) 30 Discounted Dividend Valuation (page 62) STUDY SESSION 11 Reading ... (page 200) 34 Private Company Valuation (page 232) LEARNI NG OUTCOME STATEMENTS (LOS) STUDY SESSION 9 The topical coverage corresponds with the following CFA Institute assigned reading: 2 7 Equity

Ngày tải lên: 06/09/2018, 16:41

... the corresponding spot rate curve: Maturity Par rate 98.7624 = Multiplying both sides by [(1+S2)2 / 98.7624], we get: (1+S2)2 = 1.0252 Taking square roots, we get LOS 35.d: Describe the assumptions ... Derivatives, CFA Program Curriculum, Volume 5, Level II (CFA Institute, 2016) 40 Pricing and Valuation of Forward Commitments (page 119) 41 Valuation of Contingent Claims (page 162) 42 Derivatives ... of July 2013 Because the spot yield curve is upwardsloping, the forward curves lie above the spot curve Figure 1: Spot Curve and Forward Curves Source: 2016 CFA® Program curriculum, Level II,

Ngày tải lên: 06/09/2018, 16:43

... Introduction (page 109) STUDY SESSION 16 Reading A ssignments Alternative Investments and Portfolio Management, CFA Program Curriculum, Volume 6, Level II (CFA Institute, 2016) 47 The Portfolio ... Management, CFA Program Curriculum, Volume 6, Level II (CFA Institute, 2016) 50 Economics and Investment Markets (page 183) 51 Analysis of Active Portfolio Management (page 197) 52 Algorithmic ... forecast NOI $2,974,471 Trang 24PV of terminal value 7,359,825Total value $10,334,296 Note: We can combine the present value calculations as follows: N = 4; I/Y = 13, PMT = 1,000,000; FV = 12,000,000;

Ngày tải lên: 06/09/2018, 16:45

... the corresponding spot rate curve: Maturity Par rate 98.7624 = Multiplying both sides by [(1+S2)2 / 98.7624], we get: (1+S2)2 = 1.0252 Taking square roots, we get Trang 30LOS 35.d: Describe the ... straddle.(page 213) i describe uses of calendar spreads (page 221) j identify and evaluate appropriate derivatives strategies consistent withgiven investment objectives (page 222) Trang 24The following ... Derivatives, CFA Program Curriculum, Volume 5, Level II (CFA Institute, 2017) 40 Pricing and Valuation of Forward Commitments (page 128) 41 Valuation of Contingent Claims (page 166) 42 Derivatives

Ngày tải lên: 16/10/2021, 14:45

... INVESTMENTSStudySession13-AlternativeInvestments 9 StudySession14-FixedIncome:Valuation Concepts 140 StudySession15-FixedIncome:TopicsinFixedIncomeAnalysis 230 Trang 2SCHWESERNOTES™ 2015 CFALEVELIIBOOK ... 4:ALTERNATIVEINVESTMENTSAND FIXED INCOME ©2014 Kaplan,Inc.All rightsreserved Publishedin2014 by Kaplan,Inc Printedinthe UnitedStatesofAmerica ISBN:978-1-4754-2772-1/1-4754-2772-7PPN:3200-5545 If this book does ... readings as set forth by CFA Institute in their 2015 CFA Level II Study Guide The information contained in these Notes covers topics contained in the readings referenced by CFA Institute and is believed

Ngày tải lên: 28/03/2018, 17:04

... Trang 2SCHWESERNOTES™ 2015 CFALEVELIIBOOK5:DERIVATIVESANDPORTFOLIO MANAGEMENT ©2014 Kaplan,Inc.All rightsreserved Publishedin2014 by Kaplan,Inc Printedinthe UnitedStatesofAmerica ISBN:978-1-4754-2773-8/1-4754-2773-5 ... readings as set forth by CFA Institute in their 2015 CFA Level II Study Guide The information contained in these Notes covers topics contained in the readings referenced by CFA Institute and is believed ... Instruments 52 Credit Default Swaps page58page100 page128page136 STUDY SESSION 18 Reading Assignments DerivativesandPortfolioManagement,CFA ProgramCurriculum,Volume6, Level II(CFA Institute, 2014) 53

Ngày tải lên: 28/03/2018, 17:04

... Analysis .213 StudySession8 -CorporateFinance 221 StudySession9-CorporateFinance:Financing and ControlIssues 314 Self-Test-CorporateFinance .394 Trang 3SCHWESERNOTES™2015CFALEVEL II BOOK 2: FINANCIAL ... FIFO)Assets 409 252 i Subtract taxes on LIFO reserveof$21 and $18for20X6 and 20X5,respectively 3AddLIFO reserve (netoftax)of$79and$72for 20X6and20X5,respectively reserve Trang 24(Adjustedfrom ... value.Sinceoriginalcostof$210exceedsnetrealizablevalue($225 -$22= $203),theinventory is writtendowntothenetrealizable valueof$203anda $7loss ($203 netrealizable value— $210originalcost) isreportedintheincomestatement.

Ngày tải lên: 16/08/2018, 14:34

... the corresponding spot rate curve: Maturity Par rate 98.7624 = Multiplying both sides by [(1+S2)2 / 98.7624], we get: (1+S2)2 = 1.0252 Taking square roots, we get Trang 30LOS 35.d: Describe the ... straddle.(page 213) i describe uses of calendar spreads (page 221) j identify and evaluate appropriate derivatives strategies consistent with given investment objectives (page 222) Trang 24The following ... Derivatives, CFA Program Curriculum, Volume 5, Level II (CFA Institute, 2017) 40 Pricing and Valuation of Forward Commitments (page 128) 41 Valuation of Contingent Claims (page 166) 42 Derivatives

Ngày tải lên: 05/09/2018, 16:52

... statements set forth by CFA Institute. STUDY SESSION 15 Reading Assignments Alternative Investments and Portfolio Management, CFA Program Curriculum, Volume 6, Level II (CFA Institute, 2017) 43 Private ... Management, CFA Program Curriculum, Volume 6, Level II (CFA Institute, 2017) 50 Economics and Investment Markets (page 186) 51 Analysis of Active Portfolio Management (page 200) 52 Algorithmic ... Introduction (page 109) STUDY SESSION 16 Reading Assignments Alternative Investments and Portfolio Management, CFA Program Curriculum, Volume 6, Level II (CFA Institute, 2017) 47 The Portfolio

Ngày tải lên: 05/09/2018, 16:52

... w w w w w w w w w 2 2 2 2AAAAAAAσ σ σ σ σ 2 2 2 2 (R ) w ( ( ( ( ( ( ( ( ( ( ( ( ( ( R ) R ) wAAAAAAA+ + + + + w w w w w w w w w w w w wBBB2 2BBBB2 2 σ σ σ σ σ 2 2 2 2 (R ) 2w w (R ,R ) (R ) ... + + + + + + + w E w E(R w E w E w E w E2222(R )222222) ) ) ) ) ) ) ) ) ) ) + + + + + + + + + + w w w w w w w w w w w wNNNNNN i 1 = i 1 • Variance of a 2-asset portfolio Var( Va R ) w R ) R ) ... pursue profits U.S $29.00 © 2018 Kaplan, Inc All Rights Reserved Trang 7CFA ® LEVEL I SMARTSHEET 2018 CRITICAL CONCEPTS FOR THE CFA EXAM Trang 8Wiley © 2018efficientlearning.com/cfa ETHICAL AND

Ngày tải lên: 23/05/2019, 08:56

... lowest standard deviation of returns Study Session 12 Portfolio Management Trang 29Figure 2: Risk and Return of Major Asset Classes in the United States (1926-2008)1 ( Geometric M ea n ) S ta n ... sources of financing short-Study Sessions 10 & 11 Corporate Finance Trang 23Study Session 12Po r t f o l i o Ma n a g e m e n t: A n Ov e r v ie w Cross-Reference to CFA Institute Assigned Reading ... r n: Pa r t I Cross-Reference to CFA Institute Assigned Reading #41 Risk and Return of Major Asset Classes Based on U.S data over the period 1926-2008, Figure 2 indicates that small capitalization

Ngày tải lên: 12/06/2019, 16:57

... into EUR Step 2 : Convert EU R 786,164 into GBP Step 3 : Convert GBP 628,931 into USD Arbitrage profit = USD 6,289 1.272 = EU R 786,164 1.250 = GBP 628,931 1.600 = USD 1,006,289 Note: In step ... 16 & 17 162 Essential Exam Strategies 178 Index 186 Trang 4SCHW ESER’S SECRET SAUCE®: 2017 LEVEL II CFA® © 2017 Kaplan, Inc All rights reserved Published in 2017 by Kaplan Schweser Printed ... regards, *Ke*tt 7(Je4ttoutcC and Level II Manager Kaplan Schweser Trang 7E t h ic a l a n d P r o f es s io n a lS t a n d a r d s Study Sessions 1 & 2 SchweserNotes™ Reference Book 1, Pages

Ngày tải lên: 16/10/2021, 14:46

... encourages, and rewards ethical behavior and supports CFA Institute members, CFA charterholders, and CFA candidates in their adherence to the CFA Institute Code and Standards Covered employee: ... 1+spot1) + (Par and coupon / 1+ spot2 ^2 ) Spot1 = Par1 hence It is given Spot2 = [Par + coupon / (1 – coupon/1+spot1)] - 1 Then take nth square root which 2 In this case Once identified repeat ... parts Dominance Arbitrage Opportunity: T0: T1: Bond A 100 105 Bond B 200 220 Bond B is dominant as I can sell (2*bond) to finance 1 Bond B which will return 10% at maturity Compare current

Ngày tải lên: 16/10/2021, 14:46

... underlying will distribute 2.9277 at Time t = 0.5: γt = 2.9277 The time until the distribution of 2.9277 is t, and hence, the present value is γ0 = 2.9277/(1 + 0.05)0.5 = 2.8571 The time between ... PV1,2[πc+– + (1 – π)c– –] = 0.974627[0.5(0.000042) + (1 – 0.5)0.0] = 0.00002 p+ = PV1,2[πp++ + (1 – π)p+–] = 0.962386[0.5(0.0) + (1 – 0.5)0.0] = 0.0 p– = PV1,2[πp+– + (1 – π)p– –] = 0.974627[0.5(0.0) ... 6, Reading 40, Curriculum Trang 20Ø At Time 0, the present value of the US$3 dividend payment is US$2.970297 (= 3/1.01) Therefore, 118.7644 = (100 – 2.970297)1.224 is the stock value without dividends

Ngày tải lên: 18/10/2021, 20:35

... CF0 = -230,000 CF1 = 92000 CF 2 = 92000 CF 3 = 92000 CF4 = 92000 Trang 2Reading 20 Capital Budgeting FinQuiz.com CF 5 = 92000 + 70000 I = 10% Compute NPV = $162,217 2 Replacement Project: ... company stock Practice: Example 12, Reading 22, Trang 22Reading 22 Dividends and Share Repurchases: Analysis FinQuiz.com can make this method cost effective 2 Buy Back a Fixed Number of Shares ... that the company intends to Practice: Example 10, Reading 22, Curriculum Practice: Example 11, Reading 22, Curriculum Trang 21Reading 22 Dividends and Share Repurchases: Analysis FinQuiz.com

Ngày tải lên: 18/10/2021, 20:35

... EUR =1.2875 One year forward rate USD/ EUR = 1.28485 One year forward point = 1.28485 – 1.2875 = –0.00265 • It is scaled up by four decimal places by multiplying it by 10,000 i.e -0.00265 × 10,000 ... rate of 82.00 Hence, profit can be earned by: • Buying CAD1 at the lower price of JPY81.74 • Selling CAD1 at JPY82.00 A riskless arbitrage profit that can be earned by a trader = JPY0.26 per CAD1 ... CAD/USD = 1.0460 Exchange rate for USD/EUR = 1.2880 The exchange rate for CAD/EUR is determined as follows: CADUSD× USDEUR= CADEUR1.0460 × 1.2880 = 1.3472 CAD/EUR Now Suppose, Exchange rate for CAD/USD

Ngày tải lên: 18/10/2021, 20:35

... the level of sales Research and development expense: These expenses are also fixed in nature and are not linked to sales 2.3 Income Statement Modeling: Non-operating Costs (Section 2.3.1-2.3.2 ... Practice: Example 5,6 & 8, Volume 4, Reading 29 Practice: Example 9, Volume 4, Reading 29 Practice: Example 10, Volume 4, Reading 29 Trang 32Reading 29 Discounted Dividend Valuation FinQuiz.com ... fixed Practice: Example 11, Volume 4, Reading 29 Practice: Example 12, Volume 4, Reading 29 Trang 33Reading 29 Discounted Dividend Valuation FinQuiz.com 2) Transition Phase • Increasing competition

Ngày tải lên: 18/10/2021, 20:35