独家2017年cfa二级考纲变动对比分析，请考生关注-凯发官网地址下载

了解cfa官方最新考纲是一个优秀备考计划的开始，掌握好考试的侧重点，接下来按照学习时间来分配即可达到事半功倍的效果。温馨提示：cfa考纲变化的各个知识点是每年考试容易出现的重点，备考复习过程中要尤其重视。泽稷网校cfa项目组整理cfa协会发送的：

2017年cfa二级考纲及2016年cfa二级考纲对比

1、经济学

无变化

2、财务报表分析

原2016年reading 16 删除

inventories: implications for financial statements and ratios

原2016年reading 17 删除

long-lived assets: implications for financial statements and ratios

3、股权投资

原2016年reading 31删除

the five competitive forces that shape strategy

原2016年reading 32删除

your strategy needs a strategy

4、另类投资

原2016年reading 42 改变

从2016 a primer on commodity investing

改变为2017 commodities and commodity derivatives: an introduction

以下为2017年新内容

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、投资组合

新增2017年 

measuring and managing market risk

algorithmic trading and high-frequency trading

以下为2017年新内容

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

无变化

7、量化分析

无变化

8、公司金融

无变化

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

结构虽然有大的调整，但是核心知识点并未改变，见下面黄色字体标注

关键变动：

1.cds删除，实际移动到固定收益

2.16年考纲提及到的eurodollar future ,cap and floor , contango and backwardation, fra

17年考纲中并未 重点提到。 

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