cfa level 1 schweser notes 2013 pdf download

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Ngày tải lên: 18/06/2019, 15:12

... EARNING O UTCOMEEconomics, CFA Program Level I 2017 Curriculum (CFA Institute, 2016) 14 Topics in Demand and Supply Analysis (page 1) 15 The Firm and Market Structures (page 20) 16 Aggregate Output, ... 52) 17 Understanding Business Cycles (page 83) STUDY SESSION 5 Reading Assignments Economics, CFA Program Level I 2017 Curriculum (CFA Institute, 2016) 18 Monetary and Fiscal Policy (page 104) 19 ... 109) g contrast the costs of expected and unexpected inflation (page 110) h describe tools used to implement monetary policy (page 111) i describe the monetary transmission mechanism (page 112)

Ngày tải lên: 28/07/2017, 10:58

... 102 103 104 105 106 107 108 109 110 111 112 113 114 115 116 117 118 119 120 121 122 123 124 125 126 127 128 129 130 131 132 133 134 135 136 137 138 139 140 141 142 143 144 145 146 147 148 149 150 ... 150 151 152 153 92 93 94 95 96 97 98 99 100 101 102 103 104 105 106 107 108 109 110 111 112 113 114 115 116 117 118 119 120 121 122 123 124 125 126 127 128 129 130 131 132 133 134 135 136 137 138 ... 138 139 140 141 142 143 154 155 156 157 158 159 160 161 162 163 164 165 166 167 168 169 170 171 172 173 174 175 176 177 178 179 180 181 182 183 184 185 186 187 188 189 190 191 192 193 194 195 196

Ngày tải lên: 28/07/2017, 10:59

... 88 89 90 102 103 104 105 106 107 108 109 110 111 112 113 114 115 116 117 118 119 120 121 122 123 124 125 126 127 128 129 130 131 132 133 134 135 136 137 138 139 140 141 142 143 91 92 93 94 95 ... 143 91 92 93 94 95 96 97 98 99 100 101 102 103 104 105 106 107 108 109 110 111 112 113 114 115 116 117 118 119 120 121 122 123 124 125 126 127 128 129 130 131 132 ... Notes PAGES LIST BOOK VERSION 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 i iii iv v vi vii viii ix x xi xii 10 11

Ngày tải lên: 28/03/2018, 16:44

... example, if the return for one month is 1%(0.01), then the analyst might report an annualized holding period return of (1 + 0.01)12 – 1 = 0.1268 Trang 27or 12.68% Annualized holding period returns ... Equity, CFA Program Curriculum, Volume 4, Level II (CFA Institute, 2016) 31 Free Cash Flow Valuation (page 108) 32 Market-Based Valuation: Price and Enterprise Value Multiples (page 154) 33 Residual ... and FCFE (page 111) d calculate FCFF and FCFE (page 118) e describe approaches for forecasting FCFF and FCFE (page 122) f compare the FCFE model and dividend discount models (page 123) g explain

Ngày tải lên: 06/09/2018, 16:41

... derive the spot rates: S1 = 3% (given) Trang 24(1 + S2)2 = (1 + S1)[1 + f(1,1)] = (1.03)(1.05051) → S2 = 4.02%(1 + S3)3 = (1 + S1)[1 + f(1,1)] [1 + f(2,1)] = (1.03)(1.05051)(1.07198) → S3 = 5.07% Value ... +$990 –$1,000 Long 1 unit of Security B –$990 +$1,010 Net cash flow -0- +$10 2 Arbitrage due to the occurrence of dominance: Cash Flow t = 0 t = 1 Short 1 unit of Security C +$100 –$102 Long 1 unit ... (page 106) Reading Assignments Fixed Income and Derivatives, CFA Program Curriculum, Volume 5, Level II (CFA Institute, 2016) 40 Pricing and Valuation of Forward Commitments (page 119) 41 Valuation

Ngày tải lên: 06/09/2018, 16:43

... 116) Trang 11h contrast roll return in markets in contango and markets in backwardation (page 117) i describe how commodity swaps are used to obtain or modify exposure to commodities (page 117) ... consumption (page 111) c contrast the valuation of commodities with the valuation of equities and bonds (page 112) d describe types of participants in commodity futures markets (page 113) e analyze ... Models 10 Answers – Concept Checkers 11 Measuring and Managing Market Risk Trang 616 Answers – Concept Checkers12 Economics and Investment Markets Trang 713 Analysis of Active Portfolio Management10

Ngày tải lên: 06/09/2018, 16:45

... Context (page 81) STUDY SESSION 5 Reading Assignments Private Wealth Management (2), CFA Program 2017 Curriculum, Volume 2, Level III 11 Concentrated Single-Asset Positions (page 109) 12 Risk Management ... Management (1), CFA Program 2017 Curriculum, Volume 2, Level III 8 Managing Individual Investor Portfolios (page 1) 9 Taxes and Private Wealth Management in a Global Context (page 40) 10 Estate ... businesses, and real estate (page 111) d discuss capital market and institutional constraints on an investor’s ability to reduce a concentrated position (page 111) e discuss psychological considerations

Ngày tải lên: 10/09/2018, 08:17

... portfolio is (1.10)(0.90) – 1 = –1.0% This reflects the most likely value of the portfolioover two periods, as the $100 could either increase 10% to $110 and then decline 10% to $99, ordecrease 10% to ... Management Trang 819 Answers – Concept Checkers13 Fixed-Income Portfolio Management—Part II Trang 911 LOS 22.k12 LOS 22.l 13 LOS 22.m 30 Concept Checkers 31 Answers – Concept Checkers 14 Self-Test: ... Figure 1 and Figure 2 : Figure 1: Factor Covariance Matrix for Global Assets Global Equity Factor Global Bond Factor Global equity factor 0.0211 = σF12 0.0015 = cov(F1,F2) Global bond factor 0.0015

Ngày tải lên: 10/09/2018, 08:17

... go long 120% with a beta of 1.1 and short 20%with a beta of 9 for a weighted average beta of (1.20 × 1.1) + (–.2 × 9) = 1.14 Inherently short-extension strategies tend to have a beta of 1.0 while ... expected active portfolio return of 1.81%: expected active portfolio return = (0.10 × 0%) + (0.40 × 1.4%) + (0.25 ×1.7%) + (0.15 × 3.0%) + (0.10 × 3.7%) = 1.81% To calculate the portfolio active ... forth by CFA Institute. Reading Assignments Equity Portfolio Management, CFA Program 2017 Curriculum, Volume 4, Level III 23 Equity Portfolio Management page 1 Risk Management, CFA Program 2017 Curriculum,

Ngày tải lên: 10/09/2018, 08:17

... (page 111) Reading Assignments Fixed Income and Derivatives, CFA Program Curriculum, Volume 5, Level II (CFA Institute, 2017) 40 Pricing and Valuation of Forward Commitments (page 128) 41 Valuation ... futures.10 LOS 41.j: Describe how the Black model is used to value European interestrate options and European swaptions 11 LOS 41.k: Interpret each of the option Greeks 12 LOS 41.l: Describe how ... (page 112) b describe credit events and settlement protocols with respect to CDS.(page 113) c explain the principles underlying, and factors that influence, the market’spricing of CDS (page 114)

Ngày tải lên: 16/10/2021, 14:45

... 0o gas = 107,500 - 12,500Pgas + 2001 + 1 ,200P8T - IOOPauto Inserting the values given, we have: Qo gas = 107,500 - 12,500Pgas + 200 X 50 + 1 ,200 X 20 - 100 X 30 Qo gas = 138,500 - 12,500P ... bidders who bid a discount of 0.11 17% Since there are bids for $8 billion in bills at the discount of 0 1 1 17%, and only $2 billion unsold at a yield of 0 1 1 04%, each bidder receives 2/8 ... gallon as 138,500 -12,500(3) = 1 0 1 ,000 Substituting 3 for P0, 1 0 1 ,000 for �' and -12,500 for ( �;), we can calculate the price elasticity of demand as: Eoemand = = X ( - 12,500 ) =

Ngày tải lên: 06/10/2015, 12:00

... SS 12 167 Equity Investments: SS 13 & 14 188 Fixed Income: SS 15 & 16 220 Derivatives: SS 17 251 Alternative Investments: SS 18 267 Essential Exam Strategies 275 Index 289 ©2018 Kaplan, ... their probabilities 0.18 x 1.80 + 0.42 x 1.70 + 0.24 x 1.30 + 0.16 x 1.00 = $1.51 The (conditional) expectation of EPS, given that the economy is good, is $1.73 = 0.3(1.80) + 0.7(1.70) Expected EPS, ... Trang 4SCHWESER’S SECRET SAUCE®: 2018 LEVEL I CFA®©2018 Kaplan, Inc All rights reserved Published in 2018 by Kaplan Schweser Printed in the United States of America ISBN: 978-1-4754-5896-1 If this

Ngày tải lên: 12/06/2019, 16:57

... readings as set forth by CFA Institute in their 2010 CFA Level 1 Study Guide The information contained in these Notes covers topics contained in the readings referenced by CFA Institute and is believed ... Analysis, CFA Program Curriculum, Volume 3 (CFA Institute, 2010) STUDY SESSION 10 Reading Assignments Financial Reporting and Analysis, CFA Program Curriculum, Volume 3 (CFA Institute, 2010) 40 ... and republished from 2010 Learning Outcome Statements, Level 1, 2, and 3 questions from CFA® Program Materials, CFA Institute Standards of Professional Conduct, and CFA Institute’s Global Investment

Ngày tải lên: 14/12/2013, 10:15

... / 12 The bonds are weighted by 4 / 12 and are not affected by the stock dividend Basic shares = {[100,000 x (12 / 12)] + [30,000 x (8 / 12)]} x 1.10 = 132,000 Diluted shares = 132,000 + [21,000 ... $2,100 Under LIFO, the first 42 units purchased would be in inventory: (40 x $30) + (2 x $40) = $1,280 10 B) Year 1: (2/ 4) x 25,000 = $12,500 Year 2: (2 / 4) x (25,000 — 12,500) = $6,250 11 ... 2,000(6) = 12,000 Weighted average shares = 132,000 / 12 = 11,000 shares net income — pref div $10,000 — $1,000 = $0.82 wt avg shares of common 11,000 Basic EPS = Professor's Note: Remember,

Ngày tải lên: 14/12/2013, 10:15

... owed at maturity for a 90-day loan of $1.5 million at LIBOR + 1.3%? A $17,612 B $18,300 C $32,925 A company treasurer needs to borrow 10 million euros for 180 days, 60 days from now The type ... than the contract rate at settlement 10 B (0.06 — 0.05) x (60 / 360) x $2 million x 1 / (1 + 0.06 / 6) = $3,300.33 11 A ($0.98 — $0.97) x 10 million = $100,000 loss The long, Party A, is obligated ... they are only worth $0.97 and must pay $0.01 x 10 million = $100,000 12 B- The actual discount has decreased by: 128 (0.0315 — 0.0307) “sp = 0.0284% of $1,000,000 or $284 A decrease in the discount

Ngày tải lên: 21/01/2014, 04:20

... five years at a price of 110 (110% of par), with the call price declining to 105 after ten years and 100 in the 15th year Trang 15Study Session 15 Cross-Reference to CFA Institute Assigned Reading ... readings as set forth by CFA Institute in their 2010 CFA Level 1 Study Guide The information contained in these Notes covers topics contained in the readings referenced by CFA Institute and is believed ... Hy 11 Study Session 16 — Fixed Income: Analysis and Valuation .« -<<« 84 Self-Test — Fixed Íncome Ïnvestmennts Ăn HH ng 154 Study Session 17 — DerivatIV€$ - TH ng 159 Study Session 18

Ngày tải lên: 26/01/2014, 06:20

... Trang 1CFA Level 1 - LOS Changes 2014 - 2015Topic LOS Level I - 2014 (532 LOS) LOS Level I - 2015 (529 LOS) Compared Ethics 1.1.a describe the structure of the CFA Institute Professional ... Quantitative 3.11.b distinguish between one-tailed and two-tailed tests of hypotheses 3.11.b distinguish between one-tailed and two-tailed tests of hypotheses Quantitative 3.11.c explain a test ... significance level, and how significance levels are used in hypothesis testing 3.11.c explain a test statistic, Type I and Type II errors, a significance level, and how significance levels are

Ngày tải lên: 06/06/2015, 16:02

... −5 / 47.5 = -0.105 or -10.5% The percent change in price is = (1,200 − 1,000) / [(1,000 + 1,200) / 2] = 200 / 1,100 = 0.1818 or 18.2% The price elasticity of demand is -10.5 / 18.2 = -0.58 This ... $41,000) / $47,000 = 25.53% 30.30% / 25.53% = 1.18 1.18 > 1 so Tskitishvili would conclude that computers are a luxury good This question tested from Session 4, Reading 13, LOS a, (Part 1) ... A) luxury good with income elasticity of 1.01 Trang 13Your answer: A was incorrect The correct answer was B) luxury good with income elasticity of 1.18 % change in computers demanded = ( 0.57-

Ngày tải lên: 06/06/2015, 16:36

... III, CFA, Chair Christopher C Loop, CFA, Terence E Burns, CFA Guy G Rutherfurd, Jr., CFA Samuel B Jones, Jr., CFA Wenliang (Richard) Wang, CFA Ulrike Kaiser- Boeing, CFA Peng Lian Wee, CFA Jinliang ... or integrity of CFA Institute or the CFA designation or the integrity, validity, or security of CFA Institute programs B Reference to CFA Institute, the CFA Designation, and the CFA Program When ... and Standards) The Code contains high- level aspirational ethical principles that drive members and candidates to create a r E A d i n G 1 Copyright © 2014 CFA Institute Trang 4positive and reputable

Ngày tải lên: 24/05/2016, 19:33