Professional Finance Education





1.1.1.SS9 R29. INVENTORIES原考纲的考点c&d合并为16年新考纲的c1.1.2.SS7 R23. FINANCIAL REPORTING MECHANICS新增考点a describe how business activities are classified for financial reporting purposes;1.1.3.SS9 R31. INCOME TAX 修改内容:知识点h将compare a company’s deferred tax items改成了explain recognition and measurement of current and deferred tax items;


1.2.1.SS12 新增整个章节R 42. RISK MANAGEMENT: AN INTRODUCTION1.2.2.SS15 R 55. INTRODUCTION TO ASSET-BACKED SECURITIES 新增考点e including mortgage pass-through securities and collateralized mortgage obligations


1.3.1.SS16 R57 FUNDAMENTALS OF CREDIT ANALYSIS新增考点b describe default probability and loss severity as components of credit risk1.3.2.SS15 R55原考点e explain the motivation for creating securitized structures with multiple tranches(e.g., collateralized mortgage obligations), and the characteristics and risks of securitized structures.整个删除


1.4.1.SS18 R 61 INTRODUCTION TO ALTERNATIVE INVESTMENTS考点d &f都添加了describe infrastructure



新考纲中增加3个章节删除3个章节,改动之后Portfolio Management 一共有4个章节,新增分别为Reading 53 An Introduction to Multifactor Models,Reading 54 Analysis of Active Portfolio Management 和Reading 55 Economics and Investment Markets,对应得,删除了原考纲中的Reading 53 Portfolio Concepts,Reading 54 Residual Risk and Return: The Information Ratio和Reading 55 The Fundamental Law of Active Management。


增加1个章节Reading 12 Excerpt from “Probabilistic Approaches: Scenario Analysis, Decision Trees, and Simulations”现有4个章节


2.3.1.增加一个考点,考点出现在Reading 43 The Term Structure and Interest Rate Dynamics,考点为describe how zero-coupon rates (spot rates) may be obtained from the par curve by bootstrapping。

2.3.2.删除一个考点,考点出现在Reading 45 Valuation and Analysis: Bonds with Embedded Options,考点为calculate the value of a capped or floored floating-rate bond。


3.1.Ethics 部分

3.1.1.SS 2 R4新增内容 a. explain the purpose of the Asset Manager Code and the benefits that may accrue to a firm that adopts the Code3.1.2.SS2 R3 Application of the Code and Standards Ethics case合并了2015年的Reading 3 The Consultant Ethics Cases和 Reading 4 Pearl Investment Management(A),(B),and(C) Ethics Cases3.2.Asset Allocation and Related Decisions in Portfolio Management部分3.2.1.SS 9 R18. 原考纲为formulate an appropriate currency management program given market facts and client’s objectives and constraints; 现改为formulate an appropriate currency management program given financial market conditions and portfolio objectives and constraints3.3.Trading, Monitoring, and Rebalancing部分3.3.1.SS 16 R30. Monitoring and Rebalancing删除内容i. distinguish among linear, concave, and convex rebalancing strategies.

3.3.2.SS 16 R30. Monitoring and Rebalancing删除内容 j. judge the appropriateness of constant mix, buy-and-hold, and CPPI rebalancing strategies when given an investor’s risk tolerance and asset return expectations.