Title Details

Study Session 1 Ethics 1

Reading 1 Code of Ethics and Standards of Professional Conduct 3

Reading 2 Guidance for Standards I–VII 6

Reading 3 Introduction to the Global Investment Performance Standards 8

Reading 4 Introduction to the Global Investment Performance Standards 11

Study Session 2 Quantitative Methods: Basic Concepts 13

Reading 5 The Time Value of Money 15

Reading 6 Discounted Cash Flow Applications 19

Reading 7 Statistical Concepts and Market Returns 22

Reading 8 Probability Concepts 26

Study Session 3 Quantitative Methods: Application 31

Reading 9 Common Probability Distributions 33

Reading 10 Sampling and Estimation 37

Reading 11 Hypothesis Testing 40

Reading 12 Technical Analysis 45

Study Session 4 Economics 49

Reading 13 Demand and Supply Analysis: Introduction 51

Reading 14 Demand and Supply Analysis: Consumer Demand 56

Reading 15 Demand and Supply Analysis: The Firm 58

Reading 16 The Firm and Market Structures 62

Study Session 5 Economics 67

Reading 17 Aggregate Output, Prices, and Economic Growth 69

Reading 18 Understanding Business Cycles 73

Reading 19 Monetary and Fiscal Policy 77

Study Session 6 Economics 81

Reading 20 International Trade and Capital Flows 83

Reading 21 Currency Exchange Rates 86

Study Session 7 Financial Reporting and Analysis 89

Reading 22 Financial Statement Analysis: An Introduction 93

Reading 23 Financial Reporting Mechanics 96

Reading 24 Financial Reporting Standards 101

Study Session 8 Financial Reporting and Analysis 105

Reading 25 Understanding Income Statements 107

Reading 26 Understanding Balance Sheets 112

Reading 27 Understanding Cash Flow Statements 116

Reading 28 Financial Analysis Techniques 122

Study Session 9 Financial Reporting and Analysis 127

Reading 29 Inventories 129

Reading 30 Long-lived Assets 133

Reading 31 Income Taxes 138

Reading 32 Non-current (Long-term) Liabilities 142

Study Session 10 Financial Reporting and Analysis 149

Reading 33 Financial Reporting Quality: Red Flags and Accounting Warning Signs 151

Reading 34 Accounting Shenanigans on the Cash Flow Statement 153

Reading 35 Financial Statement Analysis: Applications 154

Study Session 11 Corporate Finance 157

Reading 36 Capital Budgeting 159

Reading 37 Topics in Cost of Capital Estimation 163

Reading 38 Measures of Leverage 168

Reading 39 Dividends and Share Repurchases: Basics 170

Reading 40 Working Capital Management 173

Reading 41 Financial Statement Analysis 178

Reading 42 The Corporate Governance of Listed Companies: A Manual for Investors 180

Study Session 12 Portfolio Management 183

Reading 43 Portfolio Management: An Overview 185

Reading 44 Portfolio Risk and Return: Part I 187

Reading 45 Portfolio Risk and Return: Part II 192

Reading 46 Basics of Portfolio Planning and Construction 196

Study Session 13 Equity 199

Reading 47 Equity Markets and Analysis 201

Reading 48 Equity Markets and Analysis 206

Reading 49 Equity Markets and Analysis 209

Study Session 14 Equity 213

Reading 50 Overview of Equity Securities 215

Reading 51 Introduction to Industry and Company Analysis 218

Reading 52 Equity Valuation: Concepts and Basic Tools 221

Study Session 15 Fixed Income 225

Reading 53 Features of Debt Securities 227

Reading 54 Risks Associated with Investing in Bonds 231

Reading 55 Overview of Bond Sectors and Instruments 236

Reading 56 Understanding Yield Spreads 241

Study Session 16 Fixed Income 245

Reading 57 Introduction to the Valuation of Debt Securities 247

Reading 58 Yield Measures, Spot Rates, and Forward Rates 252

Reading 59 Introduction to the Measurement of Interest Rate Risk 257

Study Session 17 Derivatives 263

Reading 60 Derivative Markets and Instruments 265

Reading 61 Forward Markets and Contracts 268

Reading 62 Futures Markets and Contracts 272

Reading 63 Option Markets and Contracts 276

Reading 64 Swap Markets and Contracts 282

Reading 65 Risk Management Applications of Option Strategies 285

Study Session 18 Alternative Investments 287

Reading 66 Alternative Investments 289

Reading 67 Investing in Commodities 295

Answers to Sample Questions 297

Index 317