Module 1 Analysis of Dividends and Share Repurchases

Module 2 Environmental, Social, and Governance (ESG) Considerations in Investment Analysis

Module 3 Cost of Capital: Advanced Topics

Module 4 Corporate Restructuring

Module 1 Equity Valuation: Applications and Processes

Module 2 Discounted Dividend Valuation

Module 3 Free Cash Flow Valuation

Module 4 Market-Based Valuation: Price and Enterprise Value Multiples

Module 5 Residual Income Valuation

Module 6 Private Company Valuation

Module 1 The Term Structure and Interest Rate Dynamics

Module 2 The Arbitrage-Free Valuation Framework

Module 3 Valuation and Analysis of Bonds with Embedded Options

Module 4 Credit Analysis Models

Module 5 Credit Default Swaps

Module 1 Pricing and Valuation of Forward Commitments

Module 2 Valuation of Contingent Claims

Module 1 Overview of Types of Real Estate Investment

Module 2 Investments in Real Estate through Private Vehicles

Module 3 Investments in Real Estate Through Publicly Traded Securities

Module 4 Private Equity Investments

Module 5 Introduction to Commodities and Commodity Derivatives

Module 1 Exchange-Traded Funds: Mechanics and Applications

Module 2 Using Multifactor Models

Module 3 Measuring and Managing Market Risk

Module 4 Backtesting and Simulation

Module 5 Economics and Investment Markets

Module 6 Analysis of Active Portfolio Management

Module 7 Trading Costs and Electronic Markets

Module 1 Code of Ethics and Standards of Professional Conduct

Module 2 Guidance for Standards I–VII

Module 3 Application of the Code and Standards: Level II

Module 1 Intercorporate Investments

Module 2 Employee Compensation: Post-Employment and Share-Based

Module 3 Multinational Operations

Module 4 Analysis of Financial Institutions

Module 5 Evaluating Quality of Financial Reports

Module 6 Integration of Financial Statement Analysis Techniques

Module 7 Financial Statement Modeling

Module 1 Intercorporate Investments

Module 2 Employee Compensation: Post-Employment and Share-Based

Module 3 Multinational Operations

Module 4 Analysis of Financial Institutions

Module 5 Evaluating Quality of Financial Reports

Module 6 Integration of Financial Statement Analysis Techniques

Module 7 Financial Statement Modeling

overview

Module 1 Currency Exchange Rates- Understanding Equilibrium Value

Module 2 Economic Growth and investment decision

Module 3 Economics of Regulation

Module 1 Basics of Multiple Regression and Underlying Assumptions

Module 2 Evaluating Regression Model Fit and Interpreting Model Results

Module 3 Model Misspecification

Module 4 Extensions of Multiple Regression

Module 5 Time-Series Analysis

Module 6 Machine learning ( ML )

Module 7 Big Data Projects

Module 1 Basics of Multiple Regression and Underlying Assumptions

Module 2 Evaluating Regression Model Fit and Interpreting Model Results

Module 3 Model Misspecification

Module 4 Extensions of Multiple Regression

Module 5 Time-Series Analysis

Module 6 Machine learning ( ML )

Module 7 Big Data Projects

Module 1 Currency Exchange Rates- Understanding Equilibrium Value

Module 2 Economic Growth and investment decision

Module 3 Economics of Regulation

Module 1 Intercorporate Investments

Module 2 Employee Compensation: Post-Employment and Share-Based

Module 3 Multinational Operations

Module 4 Analysis of Financial Institutions

Module 5 Evaluating Quality of Financial Reports

Module 6 Integration of Financial Statement Analysis Techniques

Module 7 Financial Statement Modeling

Module 1 Intercorporate Investments

Module 2 Employee Compensation: Post-Employment and Share-Based

Module 3 Multinational Operations

Module 4 Analysis of Financial Institutions

Module 5 Evaluating Quality of Financial Reports

Module 6 Integration of Financial Statement Analysis Techniques

Module 7 Financial Statement Modeling

Module 1 Analysis of Dividends and Share Repurchases

Module 2 Environmental, Social, and Governance (ESG) Considerations in Investment Analysis

Module 3 Cost of Capital: Advanced Topics

Module 4 Corporate Restructuring

Module 1 Equity Valuation: Applications and Processes

Module 2 Discounted Dividend Valuation

Module 3 Free Cash Flow Valuation

Module 4 Market-Based Valuation: Price and Enterprise Value Multiples

Module 5 Residual Income Valuation

Module 6 Private Company Valuation

Module 1 The Term Structure and Interest Rate Dynamics

Module 2 The Arbitrage-Free Valuation Framework

Module 3 Valuation and Analysis of Bonds with Embedded Options

Module 4 Credit Analysis Models

Module 5 Credit Default Swaps

Module 1 Pricing and Valuation of Forward Commitments

Module 2 Valuation of Contingent Claims

Module 2 Investments in Real Estate through Private Vehicles

Module 3 Investments in Real Estate Through Publicly Traded Securities

Module 4 Private Equity Investments

Module 5 Introduction to Commodities and Commodity Derivatives

Module 1 Exchange-Traded Funds: Mechanics and Applications

Module 2 Using Multifactor Models

Module 3 Measuring and Managing Market Risk

Module 4 Backtesting and Simulation

Module 5 Economics and Investment Markets

Module 6 Analysis of Active Portfolio Management

Module 7 Trading Costs and Electronic Markets

Module 2 Guidance for Standards I–VII

考綱解讀

Reading 1 The Behavioral Biases of Individuals

Reading 2 Behavioral Finance and Investment Processes

Reading 3 Capital Market Expectations, Part 1 Framework and Macro Considerations

Reading 4 Capital Market Expectations, Part 2 Forecasting Asset Class Returns

Reading 5 Overview of Asset Allocation

Reading 6 Principles of Asset Allocation

Reading 7 Asset Allocation with Real-World Constraints

Reading 8 Options Strategies

Reading 9 Swaps, Forwards, and Futures Strategies

Reading 10 Currency Management: An Introduction

Reading 11 Overview of Fixed- Income Portfolio Management

Reading 12 Liability- Driven and Index- Based Strategies

Reading 13 Yield Curve Strategies

Reading 14 Fixed- Income Active Management Credit Strategies

Reading 15 Overview of Equity Portfolio Management

Reading 16 Passive Equity Investing

Reading 17 Active Equity Investing: Strategies

Reading 18 Active Equity Investing: Portfolio Construction

Reading 19 Hedge Fund Strategies

Reading 20 Asset Allocation to Alternative Investments

Introduction

Reading 21 Overview of Private Wealth Management

Reading 22 Topics in Private Wealth Management

Reading 23 Risk Management for Individuals

Reading 24 Portfolio Management for Institutional Investors

Reading 25 Trade Strategy and Execution

Reading 26 Portfolio Performance Evaluation

Reading 27 Investment Manager Selection

Reading 28 Case Study in Portfolio Management Institutional

Reading 29 Case Study in Risk Management: Private Wealth

Reading 30 Integrated Cases in Risk Management: Institutional

Reading 31 Code of Ethics and Standards of Professional Conduct

Reading 32 Guidance for Standards I–VII

Reading 33 Application of the Code and Standards: Level III

Reading 34 Asset Manager Code of Professional Conduct

Reading 35 Overview of the Global Investment Performance Standards

Reading 1 The Behavioral Biases of Individuals

Reading 2 Behavioral finance

Reading 3 Capital Market Expectations, Part 1: Framework and Macro Considerations

Reading 4 Capital Market Expectations, Part 2: Forecasting Asset Class Returns

Reading 5 Overview of Asset Allocation

Reading 6 Principles of Asset Allocation

Reading 7 Asset Allocation with Real-World Constraints

Reading 8 Options Strategies

Reading 9 Swaps, Forwards, and Futures Strategies

Reading 10 Currency Management: An Introduction

Reading 11 Overview of Fixed-Income Portfolio Management

Reading 12 Liability-Driven and Index-Based Strategies

Reading 13 Yield Curve Strategies

Reading 14 Fixed-Income Active Management: Credit Strategies

Reading 15 Introduction to Equity Portfolio Management

Reading 16 Passive Equity Investing

Reading 17 Active Equity Investing:Strategies

Reading 18 Active Equity Investing:Portfolio Construction

Reading 19 Hedge Funds

Reading 20 Asset allocation to alternative investments

Reading 21 Overview of Private Wealth Management

Reading 22 Topics in Private Wealth Management

Reading 23 Risk Management for Individuals

Reading 24 Portfolio Management for Institutional Investors

Reading 25 Trade Strategy and Execution

Reading 26 Portfolio Performance Evaluation

Reading 27 Investment Manager Selection

Reading 32 Guidance for Standards I–VII

Reading 33 Application of the Code and Standards: Level III

Reading 34 Asset Manager Code of Professional Conduct

Reading 35 Overview of the Global Investment Performance Standards

Reading 1 The Behavioral Biases of Individuals

Reading 2 Behavioral Finance and Investment Processes

Reading 3 Capital Market Expectations, Part 1: Framework and Macro Considerations

Reading 4 Capital Market Expectations, Part 2: Forecasting Asset Class Returns

Reading 5 Overview of Asset Allocation

Reading 6 Principles of Asset Allocation

Reading 7 Asset Allocation with Real-World Constraints

Reading 8 Options Strategies

Reading 9 Swaps, Forwards, and Futures Strategies

Reading 10 Currency Management- An Introduction

Reading 11 Overview of Fixed- Income Portfolio Management

Reading 12 Liability- Driven and Index- Based Strategies

Reading 13 Yield Curve Strategies

Reading 14 Fixed- Income Active Management- Credit Strategies

Reading 15 Overview of Equity Portfolio Management

Reading 16 Passive Equity Investing

Reading 17 Active Equity Investing Strategies

Reading 18 Active Equity Investing Portfolio Construction

Reading 19 Hedge Funds

Reading 20 Asset allocation to alternative investments

Reading 21 Overview of Private Wealth Management

Reading 22 Topics in Private Wealth Management

Reading 23 Risk Management for Individuals

Reading 24 Portfolio Management for Institutional Investors

Reading 25 Trade strategy and execution

Reading 26 Portfolio performance evaluation

Reading 27 Investment manager selection

Reading 31&Reading 32 Guidance for Standards I–VII

Reading 34 Asset Manager Code of Professional Conduct

Reading 35 Overview of the Global Investment Performance Standards

Behavioral Finance

Capital Market Expectations

Asset Allocation and Related Decisions in Portfolio Management

Derivatives and Currency Management

Fixed-Income Portfolio Management

Equity Portfolio Management

Alternative Investments for Portfolio Management

Private Wealth Management

Portfolio Management for Institutional Investors

Trading, Performance Evaluation, and Manager Selection

Ethical and Professional Standards

1.1 Basics of Multiple Regression and Underlying Assumptions

1.2 Evaluating Regression Model Fit and Interpreting Model Results

1.3 Model Specification

1.4 Extensions of Multiple Regression

2.1 Linear and Log linear Trend Models

2.2 Autoregressive Models AR

2.3 Random Walks and Unit Roots

2.4 Seasonality

2.5 ARCH and Multiple Time Series

3.1 Types of Learning and Overfitting Problems

3.2 Supervised Learning Algorithms

3.3 Unsupervised Learning Algorithms and Other Models

4.1 Data Analysis Steps

4.2 Data Exploration

4.3 Model Training and Evaluation

5.1 Forex quotes Spread and Triangular Arbitrage

5.2 Mark to Market Value and Parity Conditions

5.3 Exchange Rate Determinants Carry Trade and Central Bank Influence

6.1 Growth Factors and Production Function

6.2 Growth Accounting and Influencing Factors

6.3 Growth and Convergence Theories

7.1 Economics of Regulation

8.1 Classifications

8.2 Investments in Financial Assets (IFRS 9)

8.3 Investment in Associates ,Part1-Equity Method

8.4 Investment in Associates Pt2

8.5 Business Combinations Balance sheet

8.6 Business Combinations Income Stmt

8.7 Business Combinations Goodwill

8.8 Joint Ventures

8.9 Special Purpose Entities

9.1 Share-Based Compensation

9.2 Post-Employment Benefits

10.1 Transaction Exposure

10.2 Translation

10.3 Temporal Method

10.4 Current Rate Method

10.5 Example

10.6 Ratios

10.7 Hyperinflation

10.8 Tax Sales Growth Financial Results

11.1 Financial Institutions

11.2 Capital Adequacy and Asset Quality

11.3 Management Capabilities and Earnings Quality

11.4 Liquidity Position and Sensitivity to Market Risk

11.5 Other factors

11.6 Insurance Companies

12.1 Quality of Financial Reports

12.2 Evaluating Earnings Quality Pt1

12.3 Evaluating Earnings Quality Pt2

12.4 Evaluating Cash Flow Quality

12.5 Evaluating Balance Sheet Quality

13.1 Framework for Analysis

13.2 Earnings Sources and Performance

13.3 Asset Base and Capital Structure

13.4 Capital Allocation

13.5 Earnings Quality and Cash Flow Analysis

13.6 Market Value Decomposition

14.1 Forecasting Financial Statements

14.2 Competitive Analysis and Growth Rate

15.1 Theories of Dividend Policy

15.2 Stock Buybacks

16.1 Global Variations in Ownership Structures

16.2 Evaluating ESG Exposures

17.1 Factors Affecting the Cost of Capital and the Cost of Debt

17.2 ERP and the Cost of Equity

18.1 Restructuring Types and Motivations

18.2 Valuation

18.3 Evaluation

19.1 Equity Valuation Applications and Processes

20.1 DDM Basics

20.2 Gordon Growth Model

20.3 Multiperiod Models

21.1 FCF Computation

21.2 Fixed and Working Capital Computation

21.3 Variations of Formulae

21.4 Example

21.5 FCF Other Aspects

22.1 PE Multiple

22.2 PB Multiple

22.3 PS and PCF Multiple

22.4 EV and Other Aspects

23.1 Residual Income Defined

23.2 Residual Income computation

23.3 Constant growth model for RI

23.4 Continuing Residual Income

23.5 Strengths Weaknesses

24.1 Private Company Basics

24.2 Discount Rate

24.3 Valuation

25.1 Spot and Forward Rates Pt1

25.2 Spot and Forward Rates Pt2

25.3 Swap Rate Curve

25.4 Spread Measures

25.5 Term Structure Theory

25.6 Yield Curve Risks and Economic Factors

26.1 Binomial Trees Pt1

26.2 Binomial Trees Pt2

26.3 Interest Rate Models

27.1 Types of Embedded Option

27.2 Valuing Bonds with Embedded Options Pt1

27.3 Valuing Bonds with Embedded Options Pt2

27.4 Option Adjusted Spread

27.5 Duration

27.6 Key Rate Duration

27.7 Capped and Floored Floaters

27.8 Convertible Bonds

28.1 Credit Risk Measures

28.2 Analysis of Credit Risk

28.3 Credit Scores and Credit Ratings

28.4 Structural and Reduced Form Models

28.5 Credit Spread Analysis

28.6 Credit Spread

28.7 Credit Analysis of Securitized Debt

29.1 CDS Features and Terms

29.2 Factors Affecting Pricing

29.3 CDS Usage

30.1 Pricing and Valuation Concepts

30.2 Pricing and Valuation of Equity Forwards

30.3 Pricing and Valuation of Fixed Income Forwards

30.4 Pricing Forward Rate Agreements

30.5 Valuation of Forward Rate Agreements

30.6 Pricing and valuation interest Rate Swaps

30.7 Currency Swaps

30.8 Equity Swaps

31.1 The Binomial Model

31.2 Two Period Binomial and Put-Call Parity

31.3 American Options

31.4 Hedge Ratio

31.5 Interest Rate Options

31.6 Black-Scholes-Merton and Swaptions

31.7 Option Greeks and Dynamic Hedging

32.1 Introduction and Theories of Return

32.2 Analyzing Returns and Index Construction

33.1 Overview of Types of Real Estate Investment

33.2 Investments in Real Estate Through Publicly Traded Securities

34.1 Overview of Hedge Fund Strategies

34.2 Equity, Event-driven, and Relative Value Strategies

34.3 Opportunistic, Specialist, and Multi-manager Strategies

34.4 Factor Models and Portfolio Impact of Hedge Funds

35.1 ETF Mechanics and Tracking Error

35.2 Spreads Pricing Relative to NAV and Costs

35.3 ETF Risks and Portfolio Applications

36.1 Multifactor Models

36.2 Macroeconomic factor models fundamental factor models and statistical factor models

36.3 Multifactor Model Risk and Return

37.1 Value at Risk (VaR)

37.2 Using VaR

37.3 Sensitivity and Scenario Risk Measures

37.4 Applications of Risk Measures

37.5 Constraints and Capital Allocation Decisions

38.1 Introduction to Backtesting

38.2 Backtesting an Investment Strategy

38.3 Metrics Visuals and Problems in Backtesting

38.4 Scenario and Sensitivity Analysis

39.1 Valuation and Interest Rates

39.2 The Business Cycle

40.1 Value added by active management

40.2 The Information Ratio vs the Sharpe ratio

40.3 The Fundamental Law

40.4 Active Management

41.1 Introduction to the Code and Standards

42.1 Standard I(A) and I(B)

43.2 Standard I(C) and I(D)

43.3 Standard II(A) and II(B)

43.4 Standard III(A)

43.5 Standard III(B) and III(C)

43.6 Standard III(D) and III(E)

43.7 Standard IV(A),IV(B),and IV(C)

43.8 Standard V

43.9 Standard VI

43.10 Standard VII

44.1 Ethics Cases Studies