了解CFA官方最新考綱是一個優(yōu)秀備考計(jì)劃的開始，掌握好考試的側(cè)重點(diǎn)，接下來按照學(xué)習(xí)時間來分配即可達(dá)到事半功倍的效果。溫馨提示：CFA考綱變化的各個知識點(diǎn)是每年考試容易出現(xiàn)的重點(diǎn)，備考復(fù)習(xí)過程中要尤其重視。澤稷網(wǎng)校CFA項(xiàng)目組整理CFA協(xié)會發(fā)送的：

2017年CFA二級考綱及2016年CFA二級考綱對比

1、經(jīng)濟(jì)學(xué)

無變化

2、財(cái)務(wù)報(bào)表分析

原2016年Reading 16 刪除

Inventories: Implications for Financial Statements and Ratios

原2016年Reading 17 刪除

Long-lived Assets: Implications for Financial Statements and Ratios

3、股權(quán)投資

原2016年Reading 31刪除

The Five Competitive Forces That Shape Strategy

原2016年Reading 32刪除

Your Strategy Needs a Strategy

4、另類投資

原2016年Reading 42 改變

從2016 A Primer on Commodity Investing

改變?yōu)?017 Commodities and Commodity Derivatives: An Introduction

以下為2017年新內(nèi)容

A.compare characteristics of commodity sectors;

B.compare the life cycle of commodity sectors from production through trading or consumption;

C.contrast the valuation of commodities with the valuation of equities and bonds;

D.describe types of participants in commodity futures markets;

E.analyze the relationship between spot prices and expected future prices in markets in contango and markets in backwardation;

F.compare theories of commodity futures returns;

G.describe, calculate, and interpret the components of total return for a fully collateralized commodity futures contract;

H.contrast roll return in markets in contango and markets in backwardation;

I.describe how commodity swaps are used to obtain or modify exposure to commodities;

J.describe how the construction of commodity indexes affects index returns.

5、投資組合

新增2017年 

Measuring and Managing Market Risk

Algorithmic trading and high-frequency trading

以下為2017年新內(nèi)容

Measuring and Managing Market Risk

A.explain the use of value at risk (VaR) in measuring portfolio risk;

B.compare the parametric (variance–covariance), historical simulation, and Monte Carlo simulation methods for estimating VaR;

C.estimate and interpret VaR under the parametric, historical simulation, and Monte Carlo simulation methods;

D.describe advantages and limitations of VaR;

E.describe extensions of VaR;

F.describe sensitivity risk measures and scenario risk measures and compare these measures to VaR;

G.demonstrate how equity, fixed-income, and options exposure measures may be used in measuring and managing market risk and volatility risk;

H.describe the use of sensitivity risk measures and scenario risk measures;

I.describe advantages and limitations of sensitivity risk measures and scenario risk measures;

J.describe risk measures used by banks, asset managers, pension funds, and insurers;

K.explain constraints used in managing market risks, including risk budgeting, position limits, scenario limits, and stop-loss limits;

L.explain how risk measures may be used in capital allocation decisions.

Algorithmic trading and high-frequency trading

A.define algorithmic trading;

B.distinguish between execution algorithms and high-frequency trading algorithms;

C.describe types of execution algorithms and high-frequency trading algorithms;

D.describe market fragmentation and its effects on how trades are placed;

E.describe the use of technology in risk management and regulatory oversight;

F.describe issues and concerns related to the impact of algorithmic and high-frequency trading on securities markets.

6、道德

無變化

7、量化分析

無變化

8、公司金融

無變化

9、固定收益

新增：

READING 39. CREDIT DEFAULT SWAPS

The candidate should be able to:

a describe credit default swaps (CDS), single-name and index CDS, and the parameters that define a given CDS product;

b describe credit events and settlement protocols with respect to CDS;

c explain the principles underlying, and factors that influence, the market’s pricing of CDS;

d describe the use of CDS to manage credit exposures and to express views regarding changes in shape and/or level of the credit curve;

e describe the use of CDS to take advantage of valuation disparities among separate markets, such as bonds, loans, equities, and equity-linked instruments.

10、衍生品

結(jié)構(gòu)雖然有大的調(diào)整，但是核心知識點(diǎn)并未改變，見下面黃色字體標(biāo)注

關(guān)鍵變動：

1.CDS刪除，實(shí)際移動到固定收益

2.16年考綱提及到的Eurodollar Future ,cap and floor , contango and backwardation, FRA

17年考綱中并未 重點(diǎn)提到。 

需要2016-2017年CFA官方考綱完整版的可以在微信公眾號CFAer回復(fù)“資料”索取，同時會送大家2016-2017年備考CFA的必備資料。

END

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溫馨提示：2016-2017年新考季，澤稷網(wǎng)校針對CFA錄制了高清名師課程，歡迎免費(fèi)體驗(yàn)》》CFA高清網(wǎng)絡(luò)課程，另外澤稷網(wǎng)校CFA名師為大家準(zhǔn)備了2016-2017年CFA備考資料大禮包（內(nèi)含CFA考試必備的所有資料），關(guān)注微信公眾號：CFAer（ID:CFA-CHN）即可免費(fèi)領(lǐng)?。?/span>

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