Schweser Note CFA 2013 Level 1 - Ebook 1

BooK 1 - ETHICAL AND PROFESSIONAL STANDARDS AND QuANTITATIVE METHODS Reading Assignments and Learning Outcome Statements ........................................ 7 Study Session 1 - Ethics and Professional Standards ............................................. 13 Self-Test - Ethics and Professional Standards ........................................................ 91 Study Session 2 - Quantitative Methods: Basic Concepts ...................................... 98 Study Session 3 - Quantitative Methods: Application ......................................... 245 Self-Test - Quantitative Methods ....................................................................... 362 Formulas ............................................................................................................ 367 Appendices ........................................................................................................ 3 71 Index ................................................................................................................. 379 SCHWESERNOTESTM 2013 CFA LEVEL I BOOK 1: ETHICAL AND PROFESSIONAL STANDARDS AND QUANTITATIVE METHODS ©2012 Kaplan, Inc. All rights reserved. Published in 2012 by Kaplan Schweser. Printed in the United States of America. ISBN: 978-1-4277-4269-8 /1-4277-4269-3 PPN: 3200-2844 If this book. does not have the hologram with the Kaplan Schweser logo on the back. cover, it was distributed without permission of Kaplan Schweser, a Division of Kaplan, Inc., and is in direct violation of global copyright laws. Your assistance in pursuing potential violators of this law is gready appreciated. Required CFA Institute disclaimer: "CFN� and Chartered Financial Analyst® are trademarks owned by CFA Institute. CFA Institute (formerly the Association for Investment Management and Research) does not endorse, promote, review, or warrant the accuracy of the products or services offered by Kaplan Schweser." Certain materials contained within this text re the copyrighted property of CFA Institute. The following is the copyright disclosure for these materials: "Copyright, 2013, CFA Institute. Reproduced and republished from 2013 Learning Outcome Statements, evel I, II, and III questions from CFA® Program Materials, CFA Institute Standards of Professional Conduct, and CFA Institute`s Global Investment Performance Standards with permission from CFA Institute. Al Rights Reserved." These materials may not be copied without written permission from the author. The unauthoried duplication of these notes is a violation of global copyright laws and the CFA Institute Code of Ethics. Your assistance in pursuing potential violators of this law is greatly appreciated. Disclaimer: The SchweserNotes should be used in conjunction with the original readings as set forth by CFA Institute in their 2013 CFA Level I Study Guide. The information contained in these Notes covers topics contained in the readings referenced by CFA Institute and is believed to be accurate. However, their accuracy cannot be guaranteed nor is any warranty conveyed as to your ultimate am success. The authors of the referenced readings have not endorsed or sponsored these Notes. WELCOME TO THE 2013 ScuwEsERNoTEs™ Thank you for trusting Kaplan Schweser to help you reach your goals. We are all very pleased to be able to help you prepare for the Level I CFA Exam. In this introduction, I want to explain the resources included with the SchweserNotes, suggest how you can best use Schweser materials to prepare for the exam, and direct you toward other educational resources you will find helpful as you study for the exam. Besides the SchweserNotes themselves, there are many educational resources available at Schweser.com. Just log in using the individual username and password that you received when you purchased the SchweserNotes. SchweserNotesTM These consist of five volumes that include complete coverage of all 18 Study Sessions and all Learning Outcome Statements (LOS) with examples, Concept Checkers (multiple-choice questions for every topic review), and Challenge Problems for many topic reviews to help you master the material and check your progress. At the end of each major topic area, we include a Self-test. Self-test questions are created to be exam­ like in format and dificulty in order for you to evaluate how well your study of each topic has prepared you for the actual exam. Practice Questions To retain what you learn, it is important that you quiz yourself often. We offer CD, download, and online versions of the SchweserProTM QBank, which contains thousands of Level I practice questions and explanations. Quizzes are available for each LOS, topic, or Study Session. Build your own exams by specifying the topics and the number of questions you choose. Practice ams Schweser offers six full 6-hour practice exams. Practice Exams Volume 1 and Volume 2 each contain three full 240-question exams. These are important tools for gaining the speed and skills you will need to pass the exam. Each book contains answers with full explanations for self-grading and evaluation. By entering your answers at Schweser.com, you can use our Performance Tracker to find out how you have performed compared to other Schweser Level I candidates. Schweser Library We have created reference videos, some of which are available to all SchweserNotes purchasers. Schweser Library volumes are typically between 20 and 60 minutes in length and cover such topics as: "CFA Level I Exam Overview," "Calculator Basics," "Code and Standards Overview," and "Time Value of Money." The ul Schweser Library is included with our 16-week live or online classes and with our video instruction (online or CDs). Online Schweser Study Planner Use your Online Access to tell us when you will start and what days of the week you can study. The online Schweser Study Planner will create a study plan just for you, breaking each study session into daily and weekly tasks to keep you on track and help you monitor your progress through the curriculum. ©2012 Kaplan, Inc. Page3 Welcome to the 2013 SchweserNotesTM Additional Resources Purchasers of the Essential Self-Study or Premium Instruction Packages also receive access to our Instructor-led Ofice Hours. Ofice Hours allow you to get your questions about the curriculum answered in real time and to see others` questions (and instructor answers) as well. Ofice Hours is a text-based live interactive online chat with our team of Level I experts. Archives of previous Ofice Hours sessions can be sorted by topic or date and are posted shortly after each session. The Level I CFA exam is a formidable challenge (67 topic reviews and 500+ Learning Outcome Statements), and you must devote considerable time and effort to be properly prepared. There is no shortcut! You must learn the material, know the terminology and techniques, understand the concepts, and be able to answer 240 questions quickly and (at least 70%) correctly. Fifteen to 20 hours per week for 20 weeks is a good estimate of the study time required on average, but some candidates will need more or less time, depending on their individual backgrounds and experience. To help you master this material and be well prepared for the CFA Exam, we offer several other educational resources, including: Live Weekly Classroom Programs We offer weekly classroom programs around the world. Please check Schweser.com for locations, dates, and availability. 16-Week Online Class Our 16-Week Online Classes are available at New York time (6:30-9:30 pm) or London time (6:00-9:00 pm) beginning in January and August. The approximate schedule for the 16-Week Online Classes (3-hour sessions) is as follows: Class# Class# 1 Exam Intro/Quantitative Methods SS2 9 Financial Reporting & Analysis SSlO 2 Quantitative Methods SS3 3 Economics SS4, 5 4 Economics SS5, 6 5 Financial Reporting & Analysis SS7 6 Financial Reporting & Analysis SS8 7 Financial Reporting & Analysis SS8,9 8 Financial Reporting & Analysis SS9 1 0 Corporate Finance SS 11 11 Equity Investments SS13, 14 12 Fixed Income SS 15 13 Fixed Income SS 16 14 Derivatives SS 17 15 Portfolio Management & Alternative Investments SS12, 18 16 Ethical and Professional Standards SSl Archived classes are available for viewing at any time throughout the season. Candidates enrolled in the 16-Week Online Classes also have full access to supplemental on-demand video instruction in the Schweser Library and an e-mail address to use to send questions to the instructor at any time. Page4 ©2012 Kaplan, Inc. ... - tailieumienphi.vn