众所周知，CFA认证考试考纲每年都会有所变动。因CFA考试难度之大，所以对应CFA考纲来复习通过CFA考试就变得极为必要了。下面我们来看看2017CFA二级考纲变动情况
 
　　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 tradingA.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
 
　　2.2016年CFA考试大纲提及到的Eurodollar Future,cap and floor,contango and backwardation,FRA，2017年CFA考试大纲中并未重点提到。看完考纲来领取CFA备考资料吧。点击:2016-2017CFA较完整资料下载(资料包含CFA必考点总结,提升备考效率,加分必备).

来源|中国CFA考试网 作者|Don 若需引用或转载,请联系原作者,感谢作者的付出和努力!

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