Classes Studying (177)
Classes Created (177)

L1 01 Code and Standards
L1 01 Code and Standards
Flashcard Maker: Steven Popovic
50 Cards –7 Decks –2 LearnersSample Decks: a describe the structure of the CFA Institute Professional Conduct Program and the process for the enforcement of the Code and Standards;, Ethics and PIDDICR, The Standards (Underlying)Show Class 
L1 02 Guidance for Standards IVII
L1 02 Guidance for Standards IVII
Flashcard Maker: Steven Popovic
2 Cards –11 Decks –1 LearnerSample Decks: Practice, Professionalism, Integrity of Capital MarketsShow Class 
L1 03 Introduction to (GIPS)
L1 03 Introduction to (GIPS)
Flashcard Maker: Steven Popovic
7 Cards –4 Decks –1 LearnerSample Decks: Intro to GIPS, a explain why the GIPS standards were created, what parties the GIPS standards apply to, and who is served by the standards;, c explain the requirements for verification.Show Class 
L1 04 The GIPS Standards
L1 04 The GIPS Standards
Flashcard Maker: Steven Popovic
17 Cards –8 Decks –1 LearnerSample Decks: A, B, CShow Class 
L1 05 The Time Value of Money
L1 05 The Time Value of Money
Flashcard Maker: Steven Popovic
35 Cards –10 Decks –3 LearnersSample Decks: TVM, a interpret interest rates as required rates of return, discount rates, or opportunity costs;, b explain an interest rate as the sum of a real riskfree rate, and premiums that compensate investors for bearing distinct types of risk;Show Class 
L1 06 Discounted Cash Flow Applications
L1 06 Discounted Cash Flow Applications
Flashcard Maker: Steven Popovic
26 Cards –14 Decks –1 LearnerSample Decks: DCF Applications, E, FShow Class 
L1 07 Statistical Concepts and Market Returns
L1 07 Statistical Concepts and Market Returns
Flashcard Maker: Steven Popovic
78 Cards –23 Decks –1 LearnerSample Decks: Statistical Concepts And Market Returns, A, 7BShow Class 
L1 08 Probability Concepts
L1 08 Probability Concepts
Flashcard Maker: Steven Popovic
9 Cards –17 Decks –1 LearnerSample Decks: A, B, a define a random variable, an outcome, an event, mutually exclusive events, and exhaustive events;Show Class 
L1 09 Common Probability Distributions
L1 09 Common Probability Distributions
Flashcard Maker: Steven Popovic
34 Cards –20 Decks –2 LearnersSample Decks: Common Probability Distributions, 9 A Probability Dist. Cont V. Discreet Random Variable + Prob Functions, a define a probability distribution and distinguish between discrete and continuous random variables and their probability functions;Show Class 
L1 10 Sampling and Estimation
L1 10 Sampling and Estimation
Flashcard Maker: Steven Popovic
10 Cards –14 Decks –1 LearnerSample Decks: Describe issues regarding selection of the appropriate sample size, a,b, FocusShow Class 
L1 11 Hypothesis Testing
L1 11 Hypothesis Testing
Flashcard Maker: Steven Popovic
23 Cards –13 Decks –3 LearnersSample Decks: A,B,C,D,E,F,G,H,I,J,K, Focus, a define a hypothesis, describe the steps of hypothesis testing, and describe and interpret the choice of the null and alternative hypotheses;Show Class 
L1 12 Technical Analysis
L1 12 Technical Analysis
Flashcard Maker: Steven Popovic
27 Cards –9 Decks –5 LearnersSample Decks: Technical Analysis, a explain principles of technical analysis, its applications, and its underlying assumptions;, b describe the construction of different types of technical analysis charts and interpret them;Show Class 
L1 13 Demand and Supply Analysis: Introduction
L1 13 Demand and Supply Analysis: Introduction
Flashcard Maker: Steven Popovic
145 Cards –17 Decks –4 LearnersSample Decks: Demand and Supply Analysis: Intro, Practice, A Distinguish Among Types of MarketsShow Class 
L1 14 Demand and Supply Analysis: Consumer Demand
L1 14 Demand and Supply Analysis: Consumer Demand
Flashcard Maker: Steven Popovic
16 Cards –6 Decks –1 LearnerSample Decks: A Describe Consumer Choice Theory and Utility Theory, B Describe the Use of Indifference Curves, Opportunity Sets, Budget Constraints in Decision Making, C Calculate and Interpret a Budget ConstraintShow Class 
L1 15 Demand and Supply Analysis: The Firm
L1 15 Demand and Supply Analysis: The Firm
Flashcard Maker: Steven Popovic
91 Cards –16 Decks –1 LearnerSample Decks: Practice, A, BShow Class 
L1 16 The Firm and Market Structures
L1 16 The Firm and Market Structures
Flashcard Maker: Steven Popovic
49 Cards –14 Decks –3 LearnersSample Decks: A, C Describe a firms supply function under each market structure, G Describe the use and limitations of concentration measures in identifying market structureShow Class 
L1 17 Aggregate Output, Prices, and Economic Growth
L1 17 Aggregate Output, Prices, and Economic Growth
Flashcard Maker: Steven Popovic
50 Cards –15 Decks –1 LearnerSample Decks: A Calculate and explain GDP as expenditure and income, B, C, D Compare GDP, National Income, Personal Income, and Personal Disposable Income, E Explain the fundamental relationship among saving, investment, the fiscal balance, and trade balanceShow Class 
L1 18 Understanding Business Cycles
L1 18 Understanding Business Cycles
Flashcard Maker: Steven Popovic
37 Cards –9 Decks –1 LearnerSample Decks: A Describe the Business Cycle and Its Phases, B Describe how resource use, housing sector acticity, and external trade sector activity vary as an economy moves through the business cycle, C Describe Theories of the Business CycleShow Class 
L1 19 Monetary and Fiscal Policy
L1 19 Monetary and Fiscal Policy
Flashcard Maker: Steven Popovic
19 Cards –20 Decks –3 LearnersSample Decks: Monetary and Fiscal Policy, a compare monetary and fiscal policy;, b describe functions and definitions of money;Show Class 
L1 20 International Trade and Capital Flows
L1 20 International Trade and Capital Flows
Flashcard Maker: Steven Popovic
11 Cards –10 Decks –1 LearnerSample Decks: International Trade and Capital Flows, a compare gross domestic product and gross national product;, b describe benefits and costs of international trade;Show Class 
L1 21 Currency Exchange Rates
L1 21 Currency Exchange Rates
Flashcard Maker: Steven Popovic
13 Cards –11 Decks –1 LearnerSample Decks: Currency Exchange Rates, a define an exchange rate, and distinguish between nominal and real exchange rates and spot and forward exchange rates;, b describe functions of and participants in the foreign exchange market;Show Class 
L1 22 Financial Statement Analysis: An Introduction
L1 22 Financial Statement Analysis: An Introduction
Flashcard Maker: Steven Popovic
28 Cards –6 Decks –2 LearnersSample Decks: A describe the roles of financial reporting and financial statement analysis;, B describe the roles of the key financial statements (statement of financial position, statement of comprehensive income, statement of changes in equity, and statement of cash flows) in evaluating a company’s performance and financial position;, C describe the importance of financial statement notes and supplementary information —including disclosures of accounting policies, methods, and estimates— and management’s commentary;Show Class 
L1 23 Financial Reporting Mechanics
L1 23 Financial Reporting Mechanics
Flashcard Maker: Steven Popovic
73 Cards –7 Decks –1 LearnerSample Decks: A explain the relationship of financial statement elements and accounts, and classify accounts into the financial statement elements;, B explain the accounting equation in its basic and expanded forms;, C describe the process of recording business transactions using an accounting system based on the accounting equation;Show Class 
L1 24 Financial Reporting Standards
L1 24 Financial Reporting Standards
Flashcard Maker: Steven Popovic
37 Cards –9 Decks –1 LearnerSample Decks: A describe the objective of financial statements and the importance of financial reporting standards in security analysis and valuation;, B describe roles and desirable attributes of financial reporting standardsetting bodies and regulatory authorities in establishing and enforcing reporting standards, and describe the role of the International Organization of Securities Commissions;, C describe the status of global convergence of accounting standards and ongoing barriers to developing one universally accepted set of financial reporting standards;Show Class 
L1 25 Understanding Income Statements
L1 25 Understanding Income Statements
Flashcard Maker: Steven Popovic
93 Cards –10 Decks –3 LearnersSample Decks: A describe the components of the income statement and alternative presentation formats of that statement;, B describe general principles of revenue recognition and accrual accounting, specific revenue recognition applications (including accounting for longterm contracts, installment sales, barter transactions, gross and net reporting of revenue), and implications of revenue recognition principles for fi, D describe general principles of expense recognition, specific expense recognition applications, and implications of expense recognition choices for financial analysis;Show Class 
L1 26 Understanding Balance Sheets
L1 26 Understanding Balance Sheets
Flashcard Maker: Steven Popovic
76 Cards –9 Decks –3 LearnersSample Decks: A describe the elements of the balance sheet: assets, liabilities, and equity;, B describe uses and limitations of the balance sheet in financial analysis;, E. Describe different types of assets and liabilities and the measurement bases of eachShow Class 
L1 27 Understanding Cash Flow Statements
L1 27 Understanding Cash Flow Statements
Flashcard Maker: Steven Popovic
65 Cards –10 Decks –3 LearnersSample Decks: A compare cash flows from operating, investing, and financing activities and classify cash flow items as relating to one of those three categories given a description of the items;, B describe how noncash investing and financing activities are reported;, C contrast cash flow statements prepared under International Financial Reporting Standards (IFRS) and U.S. generally accepted accounting principles (U.S. GAAP);Show Class 
L1 28 Financial Analysis Techniques
L1 28 Financial Analysis Techniques
Flashcard Maker: Steven Popovic
35 Cards –6 Decks –1 LearnerSample Decks: A describe tools and techniques used in financial analysis, including their uses and limitations;, B classify, calculate, and interpret activity, liquidity, solvency, profitability, and valuation ratios;, C describe relationships among ratios and evaluate a company using ratio analysis;Show Class 
L1 29 Investories
L1 29 Investories
Flashcard Maker: Steven Popovic
79 Cards –9 Decks –1 LearnerSample Decks: a distinguish between costs included in inventories and costs recognized as expenses in the period in which they are incurred;, B describe different inventory valuation methods (cost formulas);, AShow Class 
L1 30 LongLived Assets
L1 30 LongLived Assets
Flashcard Maker: Steven Popovic
35 Cards –12 Decks –1 LearnerSample Decks: C describe the different depreciation methods for property, plant, and equipment, the effect of the choice of depreciation method on the financial statements, and the effects of assumptions concerning useful life and residual value on depreciation expense;, Practice , A Dist. between costs that are capitalized and costs that are expensed in the period in which they are incurredShow Class 
L1 31 Income Taxes
L1 31 Income Taxes
Flashcard Maker: Steven Popovic
29 Cards –10 Decks –1 LearnerSample Decks: A. Describe the diff. between Accting profit and taxable income, and define key terms, including deferred tax assets, deferred liabilities, valuation allowance, taxes payable, and income tax expense, B. Explain how deferred tax liabilities and assets are created and the factors that determine how a companys deferred tax liabilities and assets should be treated for the purpose of financial analysis, C. Calculate the tax base of a company's assets and liabilitiesShow Class 
L1 32 NonCurrent (LongTerm) Liabilities
L1 32 NonCurrent (LongTerm) Liabilities
Flashcard Maker: Steven Popovic
15 Cards –12 Decks –1 LearnerSample Decks: Financing Liabilities and Bond Terminology, A Determine the initial recognition, initial measurement and subsequent measurement of bonds, B Describe the effective intrest method and calculate interst expense, amortisation of bond discounts/premiums, and interest paymentsShow Class 
L1 33 Financial Repo Red Flags and warnings
L1 33 Financial Repo Red Flags and warnings
Flashcard Maker: Steven Popovic
27 Cards –5 Decks –1 LearnerSample Decks: Practice , A describe incentives that might induce a company’s executives to manage reported earnings, financial positions, and cash flows;, B describe activities that will result in a low quality of earnings;Show Class 
L1 34 Shenanigans on the Cash Flow Statement
L1 34 Shenanigans on the Cash Flow Statement
Flashcard Maker: Steven Popovic
12 Cards –4 Decks –1 LearnerSample Decks: Practice , Intro, A describe reasons for investors to assess the quality of cash flow statements;Show Class 
L1 35 Financial Statement Analysis: Applications
L1 35 Financial Statement Analysis: Applications
Flashcard Maker: Steven Popovic
19 Cards –5 Decks –1 LearnerSample Decks: A evaluate a company’s past financial performance and explain how a company’s strategy is reflected in past financial performance;, B forecast a company’s future net income and cash flow;, C describe the role of financial statement analysis in assessing the credit quality of a potential debt investment;Show Class 
L1 36 Capital Budgeting
L1 36 Capital Budgeting
Flashcard Maker: Steven Popovic
132 Cards –8 Decks –3 LearnersSample Decks: Capital Budgeting, Practice , b describe the basic principles of capital budgeting, including cash flow estimation;Show Class 
L1 42 Portfolio Management: An Overview
L1 42 Portfolio Management: An Overview
Flashcard Maker: Steven Popovic
78 Cards –6 Decks –1 LearnerSample Decks: A. Portfolio Management: An Overview, B describe types of investors and distinctive characteristics and needs of each;, A. Portfolio Approach to InvestingShow Class 
L1 46 Market Organization and Structure
L1 46 Market Organization and Structure
Flashcard Maker: Steven Popovic
102 Cards –13 Decks –1 LearnerSample Decks: Market Organization and Structure, A. Fin. Sys. (People, IS, Efficient Allocation); explain the main functions of the financial system;, B (describe classifications of assets and markets;) C. Asset and Market classes (describe the major types of securities, currencies, contracts, commodities, and real assets that trade in organized markets, including their distinguishing characteristics and major subtypes;)Show Class 
L1 47 Security Market Indices
L1 47 Security Market Indices
Flashcard Maker: Steven Popovic
40 Cards –12 Decks –1 LearnerSample Decks: A. Describe a security market index., B** Calculate and interpret the value, price return, and total return of an index., D**. Compare the Diff. Weighting Methods used in Index ConstructionShow Class 
L1 48 Market Efficiency
L1 48 Market Efficiency
Flashcard Maker: Steven Popovic
31 Cards –7 Decks –1 LearnerSample Decks: A Describe market efficiency and related concepts, including their importance to investment practitioners., B Distinguish between market value and intrinsic value., C Explain factors affecting a market's efficiency.Show Class 
L1 49 Overview of Equity Securities
L1 49 Overview of Equity Securities
Flashcard Maker: Steven Popovic
35 Cards –8 Decks –1 LearnerSample Decks: A. Describe Characteristics of Types of Equity Securities, B Discuss the differences in voting rights and other ownership characteristics among various equity classes, C. Distinguish between public and private equity securitiesShow Class 
L1 50 Introduction to Industry and Company Analysis
L1 50 Introduction to Industry and Company Analysis
Flashcard Maker: Steven Popovic
57 Cards –11 Decks –1 LearnerSample Decks: A. Explain the uses of industry analysis and the relationship of industry analysis to company analysis, B. Compare and contrast the methods by which companies can be grouped, current industry classification systems, and classify a company, given a description of its activities and the classification system, CExplain the factors that affect the sensitivity of a company to the business cycle and the uses and limitations of industry and company descriptors such as “growth,” “defensive,” and “cyclical”Show Class 
L1 51 Equity Valuation: Concepts and Basic Tools
L1 51 Equity Valuation: Concepts and Basic Tools
Flashcard Maker: Steven Popovic
28 Cards –11 Decks –2 LearnersSample Decks: A: Evaluate whether a security, given its current market price and a value estimate, is overvalued, fairly valued or undervalued by the market, B: Describe major categories of equity valuation models, C Explain the rationale for using present‐value of cash flow models to value equity and describe the dividend discount and free‐cash‐flow‐to‐equity modelsShow Class 
L1 52 FixedIncome Securities: Defining Elements
L1 52 FixedIncome Securities: Defining Elements
Flashcard Maker: Steven Popovic
0 Cards –6 Decks –1 LearnerSample Decks: a describe the basic features of a fixedincome security;, b describe functions of a bond indenture;, c compare affirmative and negative covenants and identify examples of each;Show Class 
L1 53 FixedIncome Markets: Issuance, Trading, and Funding
L1 53 FixedIncome Markets: Issuance, Trading, and Funding
Flashcard Maker: Steven Popovic
0 Cards –8 Decks –1 LearnerSample Decks: a describe classifications of global fixedincome markets;, b describe the use of interbank offered rates as reference rates in floatingrate debt;, c describe mechanisms available for issuing bonds in primary markets;Show Class 
L1 54 Introduction to FixedIncome Valuation
L1 54 Introduction to FixedIncome Valuation
Flashcard Maker: Steven Popovic
0 Cards –9 Decks –1 LearnerSample Decks: a calculate a bond’s price given a market discount rate;, b identify the relationships among a bond’s price, coupon rate, maturity, and market discount rate (yieldto maturity);, c define spot rates and calculate the price of a bond using spot rates;Show Class 
L1 55 Understanding FixedIncome RIsk and Return
L1 55 Understanding FixedIncome RIsk and Return
Flashcard Maker: Steven Popovic
0 Cards –11 Decks –1 LearnerSample Decks: a calculate and interpret the sources of return from investing in a fixedrate bond;, b define, calculate, and interpret Macaulay, modified, and effective durations;, c explain why effective duration is the most appropriate measure of interest rate risk for bonds with embedded options;Show Class 
L1 56 Fundamentals of Credit Analysis
L1 56 Fundamentals of Credit Analysis
Flashcard Maker: Steven Popovic
0 Cards –10 Decks –1 LearnerSample Decks: a describe credit risk and creditrelated risks affecting corporate bonds;, b describe seniority rankings of corporate debt and explain the potential violation of the priority of claims in a bankruptcy proceeding;, c distinguish between corporate issuer credit ratings and issue credit ratings and describe the rating agency practice of “notching”;Show Class 
L1 57 Derivative Markets and Instruments
L1 57 Derivative Markets and Instruments
Flashcard Maker: Steven Popovic
112 Cards –7 Decks –1 LearnerSample Decks: Derivative Markets And Instruments, A define a derivative, and distinguish between exchangetraded and overthecounter derivatives, B contrast forward commitments with contingent claimsShow Class 
L1 58 Forward Markets and Contracts
L1 58 Forward Markets and Contracts
Flashcard Maker: Steven Popovic
27 Cards –9 Decks –1 LearnerSample Decks: 58.A: EXPLAIN DELIVERY/SETTLEMENT AND DEFAULT RISK FOR BOTH LONG AND SHORT POSITIONS IN A FORWARD CONTRACT;, B DESCRIBE THE PROCEDURES FOR SETTLING A FORWARD CONTRACT AT EXPIRATION, AND HOW TERMINATION PRIOR TO EXPIRATION CAN AFFECT CREDIT RISK;, 58.C: DISTINGUISH BETWEEN A DEALER AND AN END USER OF A FORWARD CONTRACT;Show Class 
L1 59 Futures Markets and Contracts
L1 59 Futures Markets and Contracts
Flashcard Maker: Steven Popovic
14 Cards –7 Decks –1 LearnerSample Decks: LOS 59.E: DESCRIBE HOW A FUTURES CONTRACT CAN BE TERMINATED AT OR PRIOR TO EXPIRATION;, LOS 59.F: DESCRIBE THE CHARACTERISTIC OF THE FOLLOWING TYPES OF FUTURES CONTRACTS: TREASURY BILL, EURODOLLAR, TREASURY BOND, STOCK INDEX AND CURRENCY;, a describe the characteristics of futures contracts;Show Class 
L1 60 Option Markets and Contracts
L1 60 Option Markets and Contracts
Flashcard Maker: Steven Popovic
16 Cards –17 Decks –2 LearnersSample Decks: A,B,C, A  D Options Terminology, The Mechanics of Trading Options, 60.F: COMPARE INTEREST RATE OPTIONS WITH FORWARD RATE AGREEMENTS (FRAS)Show Class 
L1 61 Swap Markets and Contracts
L1 61 Swap Markets and Contracts
Flashcard Maker: Steven Popovic
6 Cards –2 Decks –1 LearnerSample Decks: A describe characteristics of swap contracts and explain how swaps are terminated;, B describe, calculate, and interpret the payments of currency swaps, plain vanilla interest rate swaps, and equity swaps.,Show Class 
L1 62 Risk Management Applications of Option Strategies
L1 62 Risk Management Applications of Option Strategies
Flashcard Maker: Steven Popovic
7 Cards –3 Decks –1 LearnerSample Decks: Practice , A determine the value at expiration, the profit, maximum profit, maximum loss, breakeven underlying price at expiration, and payoff graph of the strategies of buying and selling calls and puts and determine the potential outcomes for investors using these strategies;, b determine the value at expiration, profit, maximum profit, maximum loss, breakeven underlying price at expiration, and payoff graph of a covered call strategy and a protective put strategy, and explain the risk management application of each strategy.Show Class 
L1 63 Introduction to Alternative Investments
L1 63 Introduction to Alternative Investments
Flashcard Maker: Steven Popovic
6 Cards –8 Decks –1 LearnerSample Decks: Practice , a. compare alternative investments with traditional investments, b describe categories of alternative investments;Show Class 
Financial Formulas
Financial Formulas
Flashcard Maker: Steven Popovic
59 Cards –13 Decks –1 LearnerSample Decks: Activity Ratios, Liquidity Ratios, Solvency RatiosShow Class 
Chart of Accounts
Chart of Accounts
Flashcard Maker: Steven Popovic
84 Cards –61 Decks –3 LearnersSample Decks: Chart of Accounts Overview, Accounts Payable, Accounts RecievableShow Class 
Qbank
Qbank
Flashcard Maker: Steven Popovic
24 Cards –3 Decks –1 LearnerSample Decks: R25A Describe the components of the income statement and alternative presentation formats of that statement., 25B b: Describe general principles of revenue recognition and accrual accounting, specific revenue recognition applications (including accounting for longterm contracts, installment sales, barter transactions, gross and net reporting of revenue), and implications of revenue recognition principles f, 25C Calculate revenue given information that might influence the choice of revenue recognition method.Show Class 
Big Ass Ratio List
Show Class

Define
Define
Flashcard Maker: Steven Popovic
14 Cards –8 Decks –1 LearnerSample Decks: Define, A, 9 A Probability Dist. Cont V. Discreet Random Variable + Prob FunctionsShow Class 
Series 65
Series 65
Flashcard Maker: Steven Popovic
29 Cards –2 Decks –2 LearnersSample Decks: Equity and Debt Securities, 3.8% Trading Securities,Show Class 
Unit 1 Equity and Debt Securities
Unit 1 Equity and Debt Securities
Flashcard Maker: Steven Popovic
247 Cards –2 Decks –26 LearnersSample Decks: Equity Securities, Fixed Income (Debt Securities),Show Class 
Unit 2 Other Securities Products
Unit 2 Other Securities Products
Flashcard Maker: Steven Popovic
0 Cards –4 Decks –1 LearnerSample Decks: Investment Company Securities, InsuranceBased Products, Direct Participation Programs (DPP's)Show Class 
Unit 3 Trading Securities
Unit 3 Trading Securities
Flashcard Maker: Steven Popovic
0 Cards –1 Decks –1 LearnerSample Decks: Markets and Market Participants,Show Class 
Unit 4 Retirement Plans
Unit 4 Retirement Plans
Flashcard Maker: Steven Popovic
0 Cards –7 Decks –1 LearnerSample Decks: Individual Retirement Arrangements (IRAs), Keogh (HR10) Plans, 403(b) Plans (TaxExempt Organizations)Show Class 
Unit 5 Customer Accounts
Unit 5 Customer Accounts
Flashcard Maker: Steven Popovic
0 Cards –2 Decks –1 LearnerSample Decks: Opening Customer Accounts, Types of Accounts,Show Class 
Unit 6 Clients, Portfolio Management Styles, and Taxation
Unit 6 Clients, Portfolio Management Styles, and Taxation
Flashcard Maker: Steven Popovic
0 Cards –5 Decks –1 LearnerSample Decks: Types of Clients, Client Personal Profile, Financial Goals/ObjectivesShow Class 
Unit 7 Economic Factors, Business Information, Strategies, and Risks
Unit 7 Economic Factors, Business Information, Strategies, and Risks
Flashcard Maker: Steven Popovic
0 Cards –8 Decks –1 LearnerSample Decks: Basic Economics, Interest Rates and Yield Curves, Economic IndicatorsShow Class 
Uncertainty
Uncertainty
Flashcard Maker: Steven Popovic
8 Cards –6 Decks –1 LearnerSample Decks: Objective Uncertainty, Subjective Uncertainty, Moral UncertaintyShow Class 
L1 37 Cost of Capital
L1 37 Cost of Capital
Flashcard Maker: Steven Popovic
0 Cards –12 Decks –1 LearnerSample Decks: a calculate and interpret the weighted average cost of capital (WACC) of a company;, b describe how taxes affect the cost of capital from different capital sources;, c explain alternative methods of calculating the weights used in the WACC, including the use of the company’s target capital structure;Show Class 
L1 38 Measures of Leverage
L1 38 Measures of Leverage
Flashcard Maker: Steven Popovic
0 Cards –5 Decks –1 LearnerSample Decks: a define and explain leverage, business risk, sales risk, operating risk, and financial risk, and classify a risk, given a description;, b calculate and interpret the degree of operating leverage, the degree of financial leverage, and the degree of total leverage;, c describe the effect of financial leverage on a company’s net income and return on equity;Show Class 
L1 39 Dividends and Share Repurchases: Basics
L1 39 Dividends and Share Repurchases: Basics
Flashcard Maker: Steven Popovic
0 Cards –6 Decks –1 LearnerSample Decks: a describe regular cash dividends, extra dividends, stock dividends, stock splits, and reverse stock splits, including their expected effect on shareholders’ wealth and a company’s financial ratios;, b describe dividend payment chronology, including the significance of declaration, holderof record, exdividend, and payment dates;, c compare share repurchase methods;Show Class 
L1 40 Working Capital Management
L1 40 Working Capital Management
Flashcard Maker: Steven Popovic
0 Cards –7 Decks –1 LearnerSample Decks: a describe primary and secondary sources of liquidity and factors that influence a company’s liquidity position;, b compare a company’s liquidity measures with those of peer companies;, c evaluate working capital effectiveness of a company based on its operating and cash conversion cycles, and compare the company’s effectiveness with that of peer companies;Show Class 
L1 41 The Corporate Governance of Listed Companies:
L1 41 The Corporate Governance of Listed Companies:
Flashcard Maker: Steven Popovic
0 Cards –7 Decks –1 LearnerSample Decks: a define corporate governance;, b describe practices related to board and committee independence, experience, compensation, external consultants, and frequency of elections, and determine whether they are supportive of shareowner protection;, c describe board independence and explain the importance of independent board members in corporate governance;Show Class 
L1 43 Portfolio Risk and Return: Part I
L1 43 Portfolio Risk and Return: Part I
Flashcard Maker: Steven Popovic
0 Cards –8 Decks –1 LearnerSample Decks: a calculate and interpret major return measures and describe their appropriate uses;, b describe characteristics of the major asset classes that investors consider in forming portfolios;, c calculate and interpret the mean, variance, and covariance (or correlation) of asset returns based on historical data;Show Class 
L1 44 Portfolio Risk and Return: Part II
L1 44 Portfolio Risk and Return: Part II
Flashcard Maker: Steven Popovic
0 Cards –8 Decks –1 LearnerSample Decks: a describe the implications of combining a riskfree asset with a portfolio of risky assets;, b explain the capital allocation line (CAL) and the capital market line (CML);, c explain systematic and nonsystematic risk, including why an investor should not expect to receive additional return for bearing nonsystematic risk;Show Class 
L1 45 Basics of Portfolio Planning and Construction
L1 45 Basics of Portfolio Planning and Construction
Flashcard Maker: Steven Popovic
0 Cards –7 Decks –1 LearnerSample Decks: a describe the reasons for a written investment policy statement (IPS);, b describe the major components of an IPS;, c describe risk and return objectives and how they may be developed for a client;Show Class 
L2 01 CODE OF ETHICS AND STANDARDS OF PROFESSIONAL CONDUCT
L2 01 CODE OF ETHICS AND STANDARDS OF PROFESSIONAL CONDUCT
Flashcard Maker: Steven Popovic
0 Cards –2 Decks –1 LearnerSample Decks: a describe the six components of the Code of Ethics and the seven Standards of Professional Conduct;, b explain the ethical responsibilities required of CFA Institute members and candidates in the CFA Program by the Code and Standards.,Show Class 
L2 02 GUIDANCE FOR STANDARDS I–VII
L2 02 GUIDANCE FOR STANDARDS I–VII
Flashcard Maker: Steven Popovic
0 Cards –2 Decks –1 LearnerSample Decks: a demonstrate a thorough knowledge of the Code of Ethics and Standards of Professional Conduct by applying the Code and Standards to specific situations;, b recommend practices and procedures designed to prevent violations of the Code of Ethics and Standards of Professional Conduct.,Show Class 
L2 03 CFA INSTITUTE SOFT DOLLAR STANDARDS
L2 03 CFA INSTITUTE SOFT DOLLAR STANDARDS
Flashcard Maker: Steven Popovic
0 Cards –3 Decks –1 LearnerSample Decks: a define softdollar arrangements, and state the general principles of the Soft Dollar Standards;, b evaluate company softdollar practices and policies;, c determine whether a product or service qualifies as “permissible research” that can be purchased with client brokerage.Show Class 
L2 04 CFA INSTITUTE RESEARCH OBJECTIVITY STANDARDS
L2 04 CFA INSTITUTE RESEARCH OBJECTIVITY STANDARDS
Flashcard Maker: Steven Popovic
0 Cards –2 Decks –1 LearnerSample Decks: a explain the objectives of the Research Objectivity Standards;, b evaluate company policies and practices related to research objectivity, and distinguish between changes required and changes recommended for compliance with the Research Objectivity Standards.,Show Class 
L2 05 The Glenarm Company
L2 05 The Glenarm Company
Flashcard Maker: Steven Popovic
0 Cards –2 Decks –1 LearnerSample Decks: a evaluate the practices and policies presented;, b explain the appropriate action to take in response to conduct that violates the CFA Institute Code of Ethics and Standards of Professional Conduct.,Show Class 
L2 06 Preston Partners
L2 06 Preston Partners
Flashcard Maker: Steven Popovic
0 Cards –2 Decks –1 LearnerSample Decks: a evaluate the practices and policies presented;, b explain the appropriate action to take in response to conduct that violates the CFA Institute Code of Ethics and Standards of Professional Conduct.,Show Class 
L2 07 Super Selection
L2 07 Super Selection
Flashcard Maker: Steven Popovic
0 Cards –2 Decks –1 LearnerSample Decks: a evaluate the practices and policies presented;, b explain the appropriate action to take in response to conduct that violates the CFA Institute Code of Ethics and Standards of Professional Conduct.,Show Class 
L2 08 Trade Allocation: Fair Dealing and Disclosure
L2 08 Trade Allocation: Fair Dealing and Disclosure
Flashcard Maker: Steven Popovic
0 Cards –2 Decks –1 LearnerSample Decks: a evaluate trade allocation practices, and determine whether they comply with the CFA Institute Standards of Professional Conduct addressing fair dealing and client loyalty;, b describe appropriate actions to take in response to trade allocation practices that do not adequately respect client interests.,Show Class 
L2 09 Changing Investment Objectives
L2 09 Changing Investment Objectives
Flashcard Maker: Steven Popovic
0 Cards –2 Decks –1 LearnerSample Decks: a evaluate the disclosure of investment objectives and basic policies, and determine whether they comply with the CFA Institute Standards of Professional Conduct;, b describe appropriate actions needed to ensure adequate disclosure of the investment process.,Show Class 
L2 10 Prudence in Perspective
L2 10 Prudence in Perspective
Flashcard Maker: Steven Popovic
0 Cards –4 Decks –1 LearnerSample Decks: a explain the basic principles of the new Prudent Investor Rule;, b explain general fiduciary standards to which a trustee must adhere;, c distinguish between the old Prudent Man Rule and the new Prudent Investor Rule;Show Class 
L2 11 Correlation and Regression
L2 11 Correlation and Regression
Flashcard Maker: Steven Popovic
0 Cards –11 Decks –1 LearnerSample Decks: a calculate and interpret a sample covariance and a sample correlation coefficient, and interpret a scatter plot;, c formulate a test of the hypothesis that the population correlation coefficient equals zero, and determine whether the hypothesis is rejected at a given level of significance;, b describe limitations to correlation analysis;Show Class 
L2 12 Multiple Regression and Issues in Regression Analysis
L2 12 Multiple Regression and Issues in Regression Analysis
Flashcard Maker: Steven Popovic
0 Cards –15 Decks –1 LearnerSample Decks: a formulate a multiple regression equation to describe the relation between a dependent variable and several independent variables, and determine the statistical significance of each independent variable;, b interpret estimated regression coefficients and their pvalues;, c formulate a null and an alternative hypothesis about the population value of a regression coefficient, calculate the value of the test statistic, and determine whether to reject the null hypothesis at a given level of significance;Show Class 
L2 13 TimeSeries Analysis
L2 13 TimeSeries Analysis
Flashcard Maker: Steven Popovic
0 Cards –15 Decks –1 LearnerSample Decks: a calculate and evaluate the predicted trend value for a time series, modeled as either a linear trend or a loglinear trend, given the estimated trend coefficients;, b describe factors that determine whether a linear or a loglinear trend should be used with a particular time series, and evaluate limitations of trend models;, c explain the requirement for a time series to be covariance stationary, and describe the significance of a series that is not stationary;Show Class 
L2 14 Currency Exchange Rates: Determination and Forecasting
L2 14 Currency Exchange Rates: Determination and Forecasting
Flashcard Maker: Steven Popovic
0 Cards –16 Decks –1 LearnerSample Decks: A calculate and interpret the bid–ask spread on a spot or forward foreign currency quotation and describe the factors that affect the bid–offer spread;, b identify a triangular arbitrage opportunity, and calculate its profit, given the bid–offer quotations for three currencies;, c distinguish between spot and forward rates and calculate the forward premium/ discount for a given currency;Show Class 
L2 15 Economic Growth and the Investment Decision
L2 15 Economic Growth and the Investment Decision
Flashcard Maker: Steven Popovic
0 Cards –12 Decks –1 LearnerSample Decks: a compare factors favoring and limiting economic growth in developed and developing economies;, b describe the relation between the longrun rate of stock market appreciation and the sustainable growth rate of the economy;, c explain why potential GDP and its growth rate matter for equity and fixed income investors;Show Class 
L2 16 Economics of Regulation
L2 16 Economics of Regulation
Flashcard Maker: Steven Popovic
0 Cards –9 Decks –1 LearnerSample Decks: a describe classifications of regulations and regulators;, b describe uses of selfregulation in financial markets;, c describe the economic rationale for regulatory intervention;Show Class 
L2 17 Inventories: Implications for Financial Statements and Ratios
L2 17 Inventories: Implications for Financial Statements and Ratios
Flashcard Maker: Steven Popovic
0 Cards –6 Decks –1 LearnerSample Decks: a calculate and explain how inflation and deflation of inventory costs affects the financial statements and ratios of companies that use different inventory valuation methods;, b explain LIFO reserve and LIFO liquidation and their effects on financial statements and ratios;, c convert a company’s reported financial statements from LIFO to FIFO for purposes of comparison;Show Class 
L2 18 Longlived Assets: Implications for Financial Statements and Ratios
L2 18 Longlived Assets: Implications for Financial Statements and Ratios
Flashcard Maker: Steven Popovic
0 Cards –6 Decks –1 LearnerSample Decks: a explain and evaluate how capitalising versus expensing costs in the period in which they are incurred affects financial statements and ratios;, b explain and evaluate how the different depreciation methods for property, plant, and equipment affect financial statements and ratios;, c explain and evaluate how impairment and revaluation of property, plant, and equipment, and intangible assets affect financial statements and ratios;Show Class 
L2 19 Intercorporate Investments
L2 19 Intercorporate Investments
Flashcard Maker: Steven Popovic
0 Cards –3 Decks –1 LearnerSample Decks: a describe the classification, measurement, and disclosure under International Financial Reporting Standards (IFRS) for 1) investments in financial assets, 2) investments in associates, 3) joint ventures, 4) business combinations, and 5) special purpose and variable interest entities;, b distinguish between IFRS and U.S. GAAP in the classification, measurement, and disclosure of investments in financial assets, investments in associates, joint ventures, business combinations, and special purpose and variable interest entities;, c analyze how different methods used to account for intercorporate investments affect financial statements and ratios.Show Class 
L2 20 Employee Compensation: PostEmployment and ShareBased
L2 20 Employee Compensation: PostEmployment and ShareBased
Flashcard Maker: Steven Popovic
0 Cards –8 Decks –1 LearnerSample Decks: a describe the types of postemployment benefit plans and implications for financial reports;, b explain and calculate measures of a defined benefit pension obligation (i.e., present value of the defined benefit obligation and projected benefit obligation) and net pension liability (or asset);, c describe the components of a company’s defined benefit pension costs;Show Class 
L2 21 Multinational Operations
L2 21 Multinational Operations
Flashcard Maker: Steven Popovic
0 Cards –10 Decks –1 LearnerSample Decks: a distinguish among presentation currency, functional currency, and local currency;, b describe foreign currency transaction exposure, including accounting for and disclosures about foreign currency transaction gains and losses;, c analyze how changes in exchange rates affect the translated sales of the subsidiary and parent company;Show Class 
L2 22 The Lessons We Learn
L2 22 The Lessons We Learn
Flashcard Maker: Steven Popovic
0 Cards –3 Decks –1 LearnerSample Decks: a distinguish among various definitions of earnings (e.g., EBITDA, operating earnings, net income, etc.);, b explain how trends in cash flow from operations can be more reliable than trends in earnings;, c describe the accounting treatment for derivatives being used to hedge exposure to changes in the value of assets and liabilities, exposure to variable cash flows, and foreign currency exposure of investments in foreign corporations.Show Class 
L2 23 Evaluating Financial Reporting Quality
L2 23 Evaluating Financial Reporting Quality
Flashcard Maker: Steven Popovic
0 Cards –6 Decks –1 LearnerSample Decks: a contrast cashbasis and accrualbasis accounting, and explain why accounting discretion exists in an accrual accounting system;, b describe the relation between the level of accruals and the persistence of earnings and relative multiples that the cash and accrual components of earnings should rationally receive in valuation;, c explain opportunities and motivations for management to intervene in the external financial reporting process and mechanisms that discipline such intervention;Show Class 
L2 24 Integration of Financial Statement Analysis Techniques
L2 24 Integration of Financial Statement Analysis Techniques
Flashcard Maker: Steven Popovic
0 Cards –5 Decks –1 LearnerSample Decks: a demonstrate the use of a framework for the analysis of financial statements, given a particular problem, question, or purpose (e.g., valuing equity based on comparables, critiquing a credit rating, obtaining a comprehensive picture of financial leverage, evaluating the perspectives given in manage, b identify financial reporting choices and biases that affect the quality and comparability of companies’ financial statements, and explain how such biases affect financial decisions;, c evaluate the quality of a company’s financial data, and recommend appropriate adjustments to improve quality and comparability with similar companies, including adjustments for differences in accounting standards, methods, and assumptions;Show Class 
L2 25 Capital Budgeting
L2 25 Capital Budgeting
Flashcard Maker: Steven Popovic
0 Cards –9 Decks –1 LearnerSample Decks: a calculate the yearly cash flows of expansion and replacement capital projects, and evaluate how the choice of depreciation method affects those cash flows;, b explain the effects of inflation on capital budgeting analysis;, c evaluate capital projects and determine the optimal capital project in situations of 1) mutually exclusive projects with unequal lives, using either the least common multiple of lives approach or the equivalent annual annuity approach, and 2) capital rationing;Show Class 
L2 26 Capital Structure
L2 26 Capital Structure
Flashcard Maker: Steven Popovic
0 Cards –5 Decks –1 LearnerSample Decks: a explain the Modigliani–Miller propositions regarding capital structure, including the effects of leverage, taxes, financial distress, agency costs, and asymmetric information on a company’s cost of equity, cost of capital, and optimal capital structure;, b describe the target capital structure and explain why a company’s actual capital structure may fluctuate around its target;, c describe the role of debt ratings in capital structure policy;Show Class 
L2 27 Dividends and Share Repurchases: Analysis
L2 27 Dividends and Share Repurchases: Analysis
Flashcard Maker: Steven Popovic
0 Cards –10 Decks –1 LearnerSample Decks: a compare theories of dividend policy, and explain implications of each for share value given a description of a corporate dividend action;, b describe types of information (signals) that dividend initiations, increases, decreases, and omissions may convey;, c explain how clientele effects and agency issues may affect a company’s payout policy;Show Class 
L2 28 Corporate Governance
L2 28 Corporate Governance
Flashcard Maker: Steven Popovic
0 Cards –8 Decks –1 LearnerSample Decks: a describe objectives and core attributes of an effective corporate governance system, and evaluate whether a company’s corporate governance has those attributes;, b compare major business forms, and describe the conflicts of interest associated with each;, c explain conflicts that arise in agency relationships, including manager–shareholder conflicts and director–shareholder conflicts;Show Class 
L2 29 Mergers and Acquisitions
L2 29 Mergers and Acquisitions
Flashcard Maker: Steven Popovic
0 Cards –15 Decks –1 LearnerSample Decks: a classify merger and acquisition (M&A) activities based on forms of integration and relatedness of business activities;, b explain common motivations behind M&A activity;, c explain bootstrapping of earnings per share (EPS) and calculate a company’s postmerger EPS;Show Class 
L2 30 Equity Valuation: Applications and Processes
L2 30 Equity Valuation: Applications and Processes
Flashcard Maker: Steven Popovic
0 Cards –8 Decks –1 LearnerSample Decks: a define valuation and intrinsic value, and explain sources of perceived mispricing;, b explain the going concern assumption, and contrast a going concern value to a liquidation value;, c describe definitions of value, and justify which definition of value is most relevant to public company valuation;Show Class 
L2 31 Return Concepts
L2 31 Return Concepts
Flashcard Maker: Steven Popovic
0 Cards –8 Decks –1 LearnerSample Decks: a distinguish among realized holding period return, expected holding period return, required return, return from convergence of price to intrinsic value, discount rate, and internal rate of return;, b calculate and interpret an equity risk premium using historical and forwardlooking estimation approaches;, c estimate the required return on an equity investment using the capital asset pricing model, the Fama–French model, the Pastor–Stambaugh model, macroeconomic multifactor models, and the buildup method (e.g., bond yield plus risk premium);Show Class 
L2 32 The Five Competitive Forces That Shape Strategy
L2 32 The Five Competitive Forces That Shape Strategy
Flashcard Maker: Steven Popovic
0 Cards –4 Decks –1 LearnerSample Decks: a distinguish among the five competitive forces and explain how they drive industry profitability in the medium and long run;, b describe why industry growth rate, technology and innovation, government, and complementary products and services are fleeting factors rather than forces shaping industry structure;, c identify changes in industry structure, and forecast their effects on the industry’s profit potential;Show Class 
L2 33 Your Strategy Needs a Strategy
L2 33 Your Strategy Needs a Strategy
Flashcard Maker: Steven Popovic
0 Cards –3 Decks –1 LearnerSample Decks: b describe how an industry’s predictability and malleability are expected to affect the choice of an appropriate corporate strategy (classical, adaptive, visionary, or shaping);, a describe predictability and malleability as factors in assessing an industry;, c evaluate the predictability and malleability of an industry and select an appropriate strategy.Show Class 
L2 34 Industry and Company Analysis
L2 34 Industry and Company Analysis
Flashcard Maker: Steven Popovic
0 Cards –13 Decks –1 LearnerSample Decks: a compare topdown, bottomup, and hybrid approaches for developing inputs to equity valuation models;, b compare “growth relative to GDP growth” and “market growth and market share” approaches to forecasting revenue;, c evaluate whether economies of scale are present in an industry by analyzing operating margins and sales levels;Show Class 
L2 35 Discounted Dividend Valuation
L2 35 Discounted Dividend Valuation
Flashcard Maker: Steven Popovic
0 Cards –16 Decks –1 LearnerSample Decks: a compare dividends, free cash flow, and residual income as inputs to discounted cash flow models, and identify investment situations for which each measure is suitable;, b calculate and interpret the value of a common stock using the dividend discount model (DDM) for single and multiple holding periods;, c calculate the value of a common stock using the Gordon growth model, and explain the model’s underlying assumptions;Show Class 
L2 36 Free Cash Flow Valuation
L2 36 Free Cash Flow Valuation
Flashcard Maker: Steven Popovic
0 Cards –13 Decks –1 LearnerSample Decks: a compare the free cash flow to the firm (FCFF) and free cash flow to equity (FCFE) approaches to valuation;, b explain the ownership perspective implicit in the FCFE approach;, c explain the appropriate adjustments to net income, earnings before interest and taxes (EBIT), earnings before interest, taxes, depreciation, and amortization (EBITDA), and cash flow from operations (CFO) to calculate FCFF and FCFE;Show Class 
L2 37 MarketBased Valuation: Price and Enterprise Value Multiples
L2 37 MarketBased Valuation: Price and Enterprise Value Multiples
Flashcard Maker: Steven Popovic
0 Cards –18 Decks –1 LearnerSample Decks: a distinguish between the method of comparables and the method based on forecasted fundamentals as approaches to using price multiples in valuation, and explain economic rationales for each approach;, b calculate and interpret a justified price multiple;, c describe rationales for and possible drawbacks to using alternative price multiples and dividend yield in valuation;Show Class 
L2 38 Residual Income Valuation
L2 38 Residual Income Valuation
Flashcard Maker: Steven Popovic
0 Cards –12 Decks –1 LearnerSample Decks: a calculate and interpret residual income, economic value added, and market value added;, b describe the uses of residual income models;, c calculate the intrinsic value of a common stock using the residual income model, and compare value recognition in residual income and other present value models;Show Class 
L2 39 Private Company Valuation
L2 39 Private Company Valuation
Flashcard Maker: Steven Popovic
0 Cards –12 Decks –1 LearnerSample Decks: a compare public and private company valuation;, b describe uses of private business valuation, and explain applications of greatest concern to financial analysts;, c explain various definitions of value, and demonstrate how different definitions can lead to different estimates of value;Show Class 
L2 40 Private Real Estate Investments
L2 40 Private Real Estate Investments
Flashcard Maker: Steven Popovic
0 Cards –13 Decks –1 LearnerSample Decks: a classify and describe basic forms of real estate investments;, b describe the characteristics, the classification, and basic segments of real estate;, c explain the role in a portfolio, economic value determinants, investment characteristics, and principal risks of private real estate;Show Class 
L2 41 Publicly Traded Real Estate Securities
L2 41 Publicly Traded Real Estate Securities
Flashcard Maker: Steven Popovic
0 Cards –8 Decks –1 LearnerSample Decks: a describe types of publicly traded real estate securities;, b explain advantages and disadvantages of investing in real estate through publicly traded securities;, c explain economic value determinants, investment characteristics, principal risks, and due diligence considerations for real estate investment trust (REIT) shares;Show Class 
L2 42 Private Equity Valuation
L2 42 Private Equity Valuation
Flashcard Maker: Steven Popovic
0 Cards –11 Decks –1 LearnerSample Decks: a explain sources of value creation in private equity;, b explain how private equity firms align their interests with those of the managers of portfolio companies;, c distinguish between the characteristics of buyout and venture capital investments;Show Class 
L2 43 Investing in Hedge Funds: A Survey
L2 43 Investing in Hedge Funds: A Survey
Flashcard Maker: Steven Popovic
0 Cards –8 Decks –1 LearnerSample Decks: a distinguish between hedge funds and mutual funds in terms of leverage, use of derivatives, disclosure requirements and practices, lockup periods, and fee structures;, b describe hedge fund strategies;, c explain possible biases in reported hedge fund performance;Show Class 
L2 44 A Primer on Commodity Investing
L2 44 A Primer on Commodity Investing
Flashcard Maker: Steven Popovic
0 Cards –9 Decks –1 LearnerSample Decks: a describe types of market participants in commodity futures markets;, b explain storability and renewability in the context of commodities and determine whether a commodity is storable and/or renewable;, c explain the convenience yield and how it relates to stock (inventory level) of a commodity;Show Class 
L2 45 Credit Analysis Models
L2 45 Credit Analysis Models
Flashcard Maker: Steven Popovic
0 Cards –9 Decks –1 LearnerSample Decks: a explain probability of default, loss given default, expected loss, and present value of the expected loss, and describe the relative importance of each across the credit spectrum;, b explain credit scoring and credit ratings, including why they are called ordinal rankings;, c explain strengths and weaknesses of credit ratings;Show Class 
L2 48 MortgageBacked Sector of the Bond Market
L2 48 MortgageBacked Sector of the Bond Market
Flashcard Maker: Steven Popovic
0 Cards –13 Decks –1 LearnerSample Decks: a describe a mortgage loan, and explain the cash flow characteristics of a fixedrate, level payment, and fully amortized mortgage loan;, b explain investment characteristics, payment characteristics, and risks of mortgage passthrough securities;, c calculate the prepayment amount on a mortgage passthrough security for a month, given the single monthly mortality rate;Show Class 
L2 49 AssetBacked Sector of the Bond Market
L2 49 AssetBacked Sector of the Bond Market
Flashcard Maker: Steven Popovic
0 Cards –7 Decks –1 LearnerSample Decks: a describe the basic structural features of and parties to a securitization transaction;, b explain and contrast prepayment tranching and credit tranching;, c distinguish between the payment structure and collateral structure of a securitization backed by amortizing assets and nonamortizing assets;Show Class 
L2 50 Valuing MortgageBacked and AssetBacked Securities
L2 50 Valuing MortgageBacked and AssetBacked Securities
Flashcard Maker: Steven Popovic
0 Cards –9 Decks –1 LearnerSample Decks: a explain the calculation, use, and limitations of the cash flow yield, nominal spread, and zerovolatility spread for a mortgagebacked security and an assetbacked security;, b describe the Monte Carlo simulation model for valuing a mortgagebacked security;, c describe path dependency in passthrough securities and the implications for valuation models;Show Class 
L2 51 Forward Markets and Contracts
L2 51 Forward Markets and Contracts
Flashcard Maker: Steven Popovic
0 Cards –4 Decks –1 LearnerSample Decks: a explain how the value of a forward contract is determined at initiation, during the life of the contract, and at expiration;, b calculate and interpret the price and value of an equity forward contract, assuming dividends are paid either discretely or continuously;, c calculate and interpret the price and value of 1) a forward contract on a fixedincome security, 2) a forward rate agreement (FRA), and 3) a forward contract on a currency;Show Class 
L2 52 Futures Markets and Contracts
L2 52 Futures Markets and Contracts
Flashcard Maker: Steven Popovic
0 Cards –8 Decks –1 LearnerSample Decks: a explain why the futures price must converge to the spot price at expiration;, b determine the value of a futures contract;, c explain why forward and futures prices differ;Show Class 
L2 53 Option Markets and Contracts
L2 53 Option Markets and Contracts
Flashcard Maker: Steven Popovic
0 Cards –10 Decks –1 LearnerSample Decks: a calculate and interpret the prices of a synthetic call option, synthetic put option, synthetic bond, and synthetic underlying stock, and explain why an investor would want to create such instruments;, b calculate and interpret prices of interest rate options and options on assets using one and twoperiod binomial models;, c explain and evaluate the assumptions underlying the Black–Scholes–Merton model;Show Class 
L2 54 Swap Markets and Contracts
L2 54 Swap Markets and Contracts
Flashcard Maker: Steven Popovic
0 Cards –10 Decks –1 LearnerSample Decks: a distinguish between the pricing and valuation of swaps;, b explain the equivalence of 1) interest rate swaps to a series of offmarket forward rate agreements (FRAs) and 2) a plain vanilla swap to a combination of an interest rate call and an interest rate put;, c calculate and interpret the fixed rate on a plain vanilla interest rate swap and the market value of the swap during its life;Show Class 
L2 55 Interest Rate Derivative Instruments
L2 55 Interest Rate Derivative Instruments
Flashcard Maker: Steven Popovic
0 Cards –2 Decks –1 LearnerSample Decks: a demonstrate how both a cap and a floor are packages of 1) options on interest rates and 2) options on fixedincome instruments;, b calculate the payoff for a cap and a floor, and explain how a collar is created.,Show Class 
L2 56 Credit Default Swaps
L2 56 Credit Default Swaps
Flashcard Maker: Steven Popovic
0 Cards –5 Decks –1 LearnerSample Decks: a describe credit default swaps (CDS), singlename 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;Show Class 
L2 57 Portfolio Concepts
L2 57 Portfolio Concepts
Flashcard Maker: Steven Popovic
1 Cards –15 Decks –1 LearnerSample Decks: A NOTE ON THE TERMINOLOGY OF ACTIVE PORTFOLIO MANAGEMENT, a explain mean–variance analysis and its assumptions, and calculate the expected return and the standard deviation of return for a portfolio of two or three assets;, b describe the minimumvariance and efficient frontiers, and explain the steps to solve for the minimumvariance frontier;Show Class 
L2 58 Residual Risk and Return: The Information Ratio
L2 58 Residual Risk and Return: The Information Ratio
Flashcard Maker: Steven Popovic
0 Cards –5 Decks –1 LearnerSample Decks: a define the terms “alpha” and “information ratio” in both their ex post and ex ante senses;, b compare the information ratio and the alpha’s Tstatistic;, c explain the objective of active management in terms of value added;Show Class 
L2 59 The Fundamental Law of Active Management
L2 59 The Fundamental Law of Active Management
Flashcard Maker: Steven Popovic
0 Cards –5 Decks –1 LearnerSample Decks: a define the terms “information coefficient” and “breadth” and describe how they combine to determine the information ratio;, b describe how the optimal level of residual risk of an investment strategy changes with information coefficient and breadth, and how the value added of an investment strategy changes with information coefficient and breadth;, c contrast market timing and security selection in terms of breadth and required investment skill;Show Class 
L2 60 The Portfolio Management Process
L2 60 The Portfolio Management Process
Flashcard Maker: Steven Popovic
0 Cards –7 Decks –1 LearnerSample Decks: a explain the importance of the portfolio perspective;, b describe the steps of the portfolio management process and the components of those steps;, c explain the role of the investment policy statement in the portfolio management process, and describe the elements of an investment policy statement;Show Class 
L2 46 Term Structure and Volatility of Interest Rates
L2 46 Term Structure and Volatility of Interest Rates
Flashcard Maker: Steven Popovic
0 Cards –7 Decks –1 LearnerSample Decks: a explain parallel and nonparallel shifts in the yield curve;, b describe factors that drive U.S. Treasury security returns, and evaluate the importance of each factor;, c explain various universes of Treasury securities that are used to construct the theoretical spot rate curve, and evaluate their advantages and disadvantages;Show Class 
L2 47 Valuing Bonds with Embedded Options
L2 47 Valuing Bonds with Embedded Options
Flashcard Maker: Steven Popovic
0 Cards –11 Decks –1 LearnerSample Decks: a evaluate, using relative value analysis, whether a security is undervalued, fairly valued, or overvalued;, b evaluate the importance of benchmark interest rates in interpreting spread measures;, c describe the backward induction valuation methodology within the binomial interest rate tree framework;Show Class 
L3 01 Code of Ethics and Standards of Professional Conduct
L3 01 Code of Ethics and Standards of Professional Conduct
Flashcard Maker: Steven Popovic
0 Cards –2 Decks –1 LearnerSample Decks: a describe the structure of the CFA Institute Professional Conduct Program and the disciplinary review process for the enforcement of the Code of Ethics and Standards of Professional Conduct;, b explain the ethical responsibilities required by the Code of Ethics and the Standards of Professional Conduct, including the multiple sub sections of each standard.,Show Class 
L3 02 Guidance for Standards I–VII
L3 02 Guidance for Standards I–VII
Flashcard Maker: Steven Popovic
0 Cards –2 Decks –1 LearnerSample Decks: a demonstrate a thorough knowledge of the Code of Ethics and Standards of Professional Conduct by interpreting the Code and Standards in various situations involving issues of professional integrity;, b recommend practices and procedures designed to prevent violations of the Code of Ethics and Standards of Professional Conduct.,Show Class 
L3 03 Ethics in Practice
L3 03 Ethics in Practice
Flashcard Maker: Steven Popovic
0 Cards –2 Decks –1 LearnerSample Decks: a explain the ethical and professional responsibilities of CFA Institute members and CFA candidates required by each of the six provisions of the Code of Ethics and the seven Standards of Professional Conduct;, b interpret the Code of Ethics and Standards of Professional Conduct in situations involving issues of professional integrity and formulate corrective actions where appropriate.,Show Class 
L3 04 The Consultant
L3 04 The Consultant
Flashcard Maker: Steven Popovic
0 Cards –2 Decks –1 LearnerSample Decks: a evaluate professional conduct and formulate an appropriate response to actions that violate the Code of Ethics and Standards of Professional Conduct;, b formulate appropriate policy and procedural changes needed to assure compliance with the Code of Ethics and Standards of Professional Conduct.,Show Class 
L3 05 Pearl Investment Management (A), (B), and (C)
L3 05 Pearl Investment Management (A), (B), and (C)
Flashcard Maker: Steven Popovic
0 Cards –2 Decks –1 LearnerSample Decks: a evaluate professional conduct and formulate an appropriate response to actions that violate the Code of Ethics and Standards of Professional Conduct;, b formulate appropriate policy and procedural changes needed to assure compliance with the Code of Ethics and Standards of Professional Conduct.,Show Class 
L3 06 Asset Manager Code of Professional Conduct
L3 06 Asset Manager Code of Professional Conduct
Flashcard Maker: Steven Popovic
0 Cards –3 Decks –1 LearnerSample Decks: a explain the ethical and professional responsibilities required by the six components of the Asset Manager Code;, b determine whether an asset manager’s practices and procedures are consistent with the Asset Manager Code;, c recommend practices and procedures designed to prevent violations of the Asset Manager Code.Show Class 
L3 07 The Behavioral Finance Perspective
L3 07 The Behavioral Finance Perspective
Flashcard Maker: Steven Popovic
0 Cards –4 Decks –1 LearnerSample Decks: a contrast traditional and behavioral finance perspectives on investor decision making;, b contrast expected utility and prospect theories of investment decision making;, c discuss the effect that cognitive limitations and bounded rationality may have on investment decision making;Show Class 
L3 08 The Behavioral Biases of Individuals
L3 08 The Behavioral Biases of Individuals
Flashcard Maker: Steven Popovic
0 Cards –4 Decks –1 LearnerSample Decks: a distinguish between cognitive errors and emotional biases;, b discuss commonly recognized behavioral biases and their implications for financial decision making;\, c identify and evaluate an individual’s behavioral biases;Show Class 
L3 09 Behavioral Finance and Investment Processes
L3 09 Behavioral Finance and Investment Processes
Flashcard Maker: Steven Popovic
0 Cards –7 Decks –1 LearnerSample Decks: a explain the uses and limitations of classifying investors into various types;, b discuss how behavioral factors affect adviser–client interactions;, c discuss how behavioral factors influence portfolio construction;Show Class 
L3 10 Managing Individual Investor Portfolios
L3 10 Managing Individual Investor Portfolios
Flashcard Maker: Steven Popovic
0 Cards –14 Decks –1 LearnerSample Decks: a discuss how source of wealth, measure of wealth, and stage of life affect an individual investors’ risk tolerance;, b explain the role of situational and psychological profiling in understanding an individual investor;, c compare the traditional finance and behavioral finance models of investor decision making;Show Class 
L3 11 Taxes and Private Wealth Management in a Global Context
L3 11 Taxes and Private Wealth Management in a Global Context
Flashcard Maker: Steven Popovic
0 Cards –9 Decks –1 LearnerSample Decks: a compare basic global taxation regimes as they relate to the taxation of dividend income, interest income, realized capital gains, and unrealized capital gains;, b determine the effects of different types of taxes and tax regimes on future wealth accumulation;, c calculate accrual equivalent tax rates and after tax returns;Show Class 
L3 12 Estate Planning in a Global Context
L3 12 Estate Planning in a Global Context
Flashcard Maker: Steven Popovic
0 Cards –12 Decks –1 LearnerSample Decks: a discuss the purpose of estate planning and explain the basic concepts of domestic estate planning, including estates, wills, and probate;, b explain the two principal forms of wealth transfer taxes and discuss the effects of important non tax issues, such as legal system, forced heirship, and marital property regime;, c determine a family’s core capital and excess capital, based on mortality probabilities and Monte Carlo analysis;Show Class 
L3 13 Concentrated Single Asset Positions
L3 13 Concentrated Single Asset Positions
Flashcard Maker: Steven Popovic
0 Cards –12 Decks –1 LearnerSample Decks: a explain investment risks associated with a concentrated position in a single asset and discuss the appropriateness of reducing such risks;, b describe typical objectives in managing concentrated positions;, c discuss tax consequences and illiquidity as considerations affecting the management of concentrated positions in publicly traded common shares, privately held businesses, and real estate;Show Class 
L3 14 Lifetime Financial Advice: Human Capital
L3 14 Lifetime Financial Advice: Human Capital
Flashcard Maker: Steven Popovic
0 Cards –7 Decks –1 LearnerSample Decks: a explain the concept and discuss the characteristics of “human capital” as a component of an investor’s total wealth;, b discuss the earnings risk, mortality risk, and longevity risk associated with human capital and explain how these risks can be reduced by appropriate portfolio diversification, life insurance, and annuity products;, c explain how asset allocation policy is influenced by the risk characteristics of human capital and the relative relationships of human capital, financial capital, and total wealth;Show Class 
L3 15 Managing Institutional Investor Portfolios
L3 15 Managing Institutional Investor Portfolios
Flashcard Maker: Steven Popovic
0 Cards –14 Decks –1 LearnerSample Decks: a contrast a defined benefit plan to a defined contribution plan and discuss the advantages and disadvantages of each from the perspectives of the employee and the employer;, b discuss investment objectives and constraints for defined benefit plans;, c evaluate pension fund risk tolerance when risk is considered from the perspective of the 1) plan surplus, 2) sponsor financial status and profitability, 3) sponsor and pension fund common risk exposures, 4) plan features, and 5) workforce characteristics;Show Class 
L3 16 Linking Pension Liabilities to Assets
L3 16 Linking Pension Liabilities to Assets
Flashcard Maker: Steven Popovic
0 Cards –3 Decks –1 LearnerSample Decks: a contrast the assumptions concerning pension liability risk in asset only and liability relative approaches to asset allocation;, b discuss the fundamental and economic exposures of pension liabilities and identify asset types that mimic these liability exposures;, c compare pension portfolios built from a traditional asset only perspective to portfolios designed relative to liabilities and discuss why corporations may choose not to implement fully the liability mimicking portfolio.Show Class 
L3 17 Capital Market Expectations
L3 17 Capital Market Expectations
Flashcard Maker: Steven Popovic
0 Cards –18 Decks –1 LearnerSample Decks: a discuss the role of, and a framework for, capital market expectations in the portfolio management process;, b discuss challenges in developing capital market forecasts;, c demonstrate the application of formal tools for setting capital market expectations, including statistical tools, discounted cash flow models, the risk premium approach, and financial equilibrium models;Show Class 
L3 18 Equity Market Valuation
L3 18 Equity Market Valuation
Flashcard Maker: Steven Popovic
0 Cards –7 Decks –1 LearnerSample Decks: b evaluate the relative importance of growth in total factor productivity, in capital stock, and in labor input given relevant historical data;, a explain the terms of the Cobb Douglas production function and demonstrate how the function can be used to model growth in real output under the assumption of constant returns to scale;, c demonstrate the use of the Cobb Douglas production function in obtaining a discounted dividend model estimate of the intrinsic value of an equity market;Show Class 
L3 19 Asset Allocation
L3 19 Asset Allocation
Flashcard Maker: Steven Popovic
0 Cards –20 Decks –1 LearnerSample Decks: a explain the function of strategic asset allocation in portfolio management and discuss its role in relation to specifying and controlling the investor’s exposures to systematic risk;, b compare strategic and tactical asset allocation;, c discuss the importance of asset allocation for portfolio performance;Show Class 
L3 20 Fixed Income Portfolio Management—Part I
L3 20 Fixed Income Portfolio Management—Part I
Flashcard Maker: Steven Popovic
0 Cards –13 Decks –1 LearnerSample Decks: a compare, with respect to investment objectives, the use of liabilities as a benchmark and the use of a bond index as a benchmark;\, b compare pure bond indexing, enhanced indexing, and active investing with respect to the objectives, advantages, disadvantages, and management of each;, c discuss the criteria for selecting a benchmark bond index and justify the selection of a specific index when given a description of an investor’s risk aversion, income needs, and liabilities;Show Class 
L3 21 Relative Value Methodologies for Global Credit Bond Portfolio Management
L3 21 Relative Value Methodologies for Global Credit Bond Portfolio Management
Flashcard Maker: Steven Popovic
0 Cards –5 Decks –1 LearnerSample Decks: a explain classic relative value analysis, based on top down and bottom up approaches to credit bond portfolio management;, b discuss the implications of cyclical supply and demand changes in the primary corporate bond market and the impact of secular changes in the market’s dominant product structures;, c explain the influence of investors’ short and long term liquidity needs on portfolio management decisions;Show Class 
L3 22 Fixed Income Portfolio Management—Part II
L3 22 Fixed Income Portfolio Management—Part II
Flashcard Maker: Steven Popovic
0 Cards –13 Decks –1 LearnerSample Decks: b discuss the use of repurchase agreements (repos) to finance bond purchases and the factors that affect the repo rate;, a evaluate the effect of leverage on portfolio duration and investment returns;, c critique the use of standard deviation, target semivariance, shortfall risk, and value at risk as measures of fixed income portfolio risk;Show Class 
L3 23 Equity Portfolio Management
L3 23 Equity Portfolio Management
Flashcard Maker: Steven Popovic
0 Cards –22 Decks –1 LearnerSample Decks: a discuss the role of equities in the overall portfolio;, b discuss the rationales for passive, active, and semiactive (enhanced index) equity investment approaches and distinguish among those approaches with respect to expected active return and tracking risk;, c recommend an equity investment approach when given an investor’s investment policy statement and beliefs concerning market efficiency;Show Class 
L3 24 International Equity Benchmarks
L3 24 International Equity Benchmarks
Flashcard Maker: Steven Popovic
0 Cards –3 Decks –1 LearnerSample Decks: a discuss the need for float adjustment in the construction of international equity benchmarks;, b discuss trade offs involved in constructing international indices, including 1) breadth versus investability, 2) precise float adjustment versus transaction costs from rebalancing, and 3) objectivity and transparency versus judgment;, c discuss the effect that a country’s classification as either a developed or an emerging market can have on market indices and on investment in the country’s capital markets.Show Class 
L3 25 Corporate Performance, Governance and Business Ethics
L3 25 Corporate Performance, Governance and Business Ethics
Flashcard Maker: Steven Popovic
0 Cards –4 Decks –1 LearnerSample Decks: a compare interests of key stakeholder groups and explain the purpose of a stakeholder impact analysis;, b discuss problems that can arise in principal agent relationships and mechanisms that may mitigate such problems;, c discuss roots of unethical behavior and how managers might ensure that ethical issues are considered in business decision making;Show Class 
L3 26 Alternative Investments Portfolio Management
L3 26 Alternative Investments Portfolio Management
Flashcard Maker: Steven Popovic
0 Cards –22 Decks –1 LearnerSample Decks: a describe common features of alternative investments and their markets and how alternative investments may be grouped by the role they typically play in a portfolio;, b explain and justify the major due diligence checkpoints involved in selecting active managers of alternative investments;, c explain distinctive issues that alternative investments raise for investment advisers of private wealth clients;Show Class 
L3 27 Risk Management
L3 27 Risk Management
Flashcard Maker: Steven Popovic
0 Cards –13 Decks –1 LearnerSample Decks: a discuss features of the risk management process, risk governance, risk reduction, and an enterprise risk management system;, b evaluate strengths and weaknesses of a company’s risk management process;, c describe steps in an effective enterprise risk management system;Show Class 
L3 28 Currency Management: An Introduction
L3 28 Currency Management: An Introduction
Flashcard Maker: Steven Popovic
0 Cards –9 Decks –1 LearnerSample Decks: a analyze the effects of currency movements on portfolio risk and return;, b discuss strategic choices in currency management;, c formulate an appropriate currency management program given market facts and client objectives and constraints;Show Class 
L3 29 Risk Management Applications of Forward and Futures Strategies
L3 29 Risk Management Applications of Forward and Futures Strategies
Flashcard Maker: Steven Popovic
0 Cards –7 Decks –1 LearnerSample Decks: a demonstrate the use of equity futures contracts to achieve a target beta for a stock portfolio and calculate and interpret the number of futures contracts required;, b construct a synthetic stock index fund using cash and stock index futures (equitizing cash);, c explain the use of stock index futures to convert a long stock position into synthetic cash;Show Class 
L3 30 Risk Management Applications of Option Strategies
L3 30 Risk Management Applications of Option Strategies
Flashcard Maker: Steven Popovic
0 Cards –6 Decks –1 LearnerSample Decks: a compare the use of covered calls and protective puts to manage risk exposure to individual securities;, b calculate and interpret the value at expiration, profit, maximum profit, maximum loss, breakeven underlying price at expiration, and general shape of the graph for the following option strategies: bull spread, bear spread, butterfly spread, collar, straddle, box spread;, c calculate the effective annual rate for a given interest rate outcome when a borrower (lender) manages the risk of an anticipated loan using an interest rate call (put) option;Show Class 
L3 31 Risk Management Applications of Swap Strategies
L3 31 Risk Management Applications of Swap Strategies
Flashcard Maker: Steven Popovic
0 Cards –8 Decks –1 LearnerSample Decks: a demonstrate how an interest rate swap can be used to convert a floating rate (fixed rate) loan to a fixed rate (floating rate) loan;, b calculate and interpret the duration of an interest rate swap;, c explain the effect of an interest rate swap on an entity’s cash flow risk;Show Class 
L3 32 Execution of Portfolio Decisions
L3 32 Execution of Portfolio Decisions
Flashcard Maker: Steven Popovic
0 Cards –0 Decks –1 LearnerSample Decks:Show Class 
L3 33 Monitoring and Rebalancing
L3 33 Monitoring and Rebalancing
Flashcard Maker: Steven Popovic
0 Cards –0 Decks –1 LearnerSample Decks:Show Class 
L3 34 Evaluating Portfolio Performance
L3 34 Evaluating Portfolio Performance
Flashcard Maker: Steven Popovic
0 Cards –0 Decks –1 LearnerSample Decks:Show Class 
L3 35 Overview of the Global Investment Performance Standards
L3 35 Overview of the Global Investment Performance Standards
Flashcard Maker: Steven Popovic
0 Cards –0 Decks –1 LearnerSample Decks:Show Class 
Uncategorized
Show Class

Uncategorized
Show Class

Sierra investments
Sierra investments
Flashcard Maker: Steven Popovic
17 Cards –4 Decks –1 LearnerSample Decks: Stats Stuff, Excel Logic functions, Chandoos Top 10 Analyst FunctionsShow Class 
Future
Future
Flashcard Maker: Steven Popovic
2 Cards –2 Decks –1 LearnerSample Decks: Shell, Historical Prices,Show Class 
65
65
Flashcard Maker: Steven Popovic
11 Cards –3 Decks –1 LearnerSample Decks: State Reg Exemptions, Bull Market, Dollar VsShow Class

L1 01 Code and Standards
L1 01 Code and Standards
Flashcard Maker: Steven Popovic
50 Cards –7 Decks –2 LearnersSample Decks: a describe the structure of the CFA Institute Professional Conduct Program and the process for the enforcement of the Code and Standards;, Ethics and PIDDICR, The Standards (Underlying)Show Class 
L1 02 Guidance for Standards IVII
L1 02 Guidance for Standards IVII
Flashcard Maker: Steven Popovic
2 Cards –11 Decks –1 LearnerSample Decks: Practice, Professionalism, Integrity of Capital MarketsShow Class 
L1 03 Introduction to (GIPS)
L1 03 Introduction to (GIPS)
Flashcard Maker: Steven Popovic
7 Cards –4 Decks –1 LearnerSample Decks: Intro to GIPS, a explain why the GIPS standards were created, what parties the GIPS standards apply to, and who is served by the standards;, c explain the requirements for verification.Show Class 
L1 04 The GIPS Standards
L1 04 The GIPS Standards
Flashcard Maker: Steven Popovic
17 Cards –8 Decks –1 LearnerSample Decks: A, B, CShow Class 
L1 05 The Time Value of Money
L1 05 The Time Value of Money
Flashcard Maker: Steven Popovic
35 Cards –10 Decks –3 LearnersSample Decks: TVM, a interpret interest rates as required rates of return, discount rates, or opportunity costs;, b explain an interest rate as the sum of a real riskfree rate, and premiums that compensate investors for bearing distinct types of risk;Show Class 
L1 06 Discounted Cash Flow Applications
L1 06 Discounted Cash Flow Applications
Flashcard Maker: Steven Popovic
26 Cards –14 Decks –1 LearnerSample Decks: DCF Applications, E, FShow Class 
L1 07 Statistical Concepts and Market Returns
L1 07 Statistical Concepts and Market Returns
Flashcard Maker: Steven Popovic
78 Cards –23 Decks –1 LearnerSample Decks: Statistical Concepts And Market Returns, A, 7BShow Class 
L1 08 Probability Concepts
L1 08 Probability Concepts
Flashcard Maker: Steven Popovic
9 Cards –17 Decks –1 LearnerSample Decks: A, B, a define a random variable, an outcome, an event, mutually exclusive events, and exhaustive events;Show Class 
L1 09 Common Probability Distributions
L1 09 Common Probability Distributions
Flashcard Maker: Steven Popovic
34 Cards –20 Decks –2 LearnersSample Decks: Common Probability Distributions, 9 A Probability Dist. Cont V. Discreet Random Variable + Prob Functions, a define a probability distribution and distinguish between discrete and continuous random variables and their probability functions;Show Class 
L1 10 Sampling and Estimation
L1 10 Sampling and Estimation
Flashcard Maker: Steven Popovic
10 Cards –14 Decks –1 LearnerSample Decks: Describe issues regarding selection of the appropriate sample size, a,b, FocusShow Class 
L1 11 Hypothesis Testing
L1 11 Hypothesis Testing
Flashcard Maker: Steven Popovic
23 Cards –13 Decks –3 LearnersSample Decks: A,B,C,D,E,F,G,H,I,J,K, Focus, a define a hypothesis, describe the steps of hypothesis testing, and describe and interpret the choice of the null and alternative hypotheses;Show Class 
L1 12 Technical Analysis
L1 12 Technical Analysis
Flashcard Maker: Steven Popovic
27 Cards –9 Decks –5 LearnersSample Decks: Technical Analysis, a explain principles of technical analysis, its applications, and its underlying assumptions;, b describe the construction of different types of technical analysis charts and interpret them;Show Class 
L1 13 Demand and Supply Analysis: Introduction
L1 13 Demand and Supply Analysis: Introduction
Flashcard Maker: Steven Popovic
145 Cards –17 Decks –4 LearnersSample Decks: Demand and Supply Analysis: Intro, Practice, A Distinguish Among Types of MarketsShow Class 
L1 14 Demand and Supply Analysis: Consumer Demand
L1 14 Demand and Supply Analysis: Consumer Demand
Flashcard Maker: Steven Popovic
16 Cards –6 Decks –1 LearnerSample Decks: A Describe Consumer Choice Theory and Utility Theory, B Describe the Use of Indifference Curves, Opportunity Sets, Budget Constraints in Decision Making, C Calculate and Interpret a Budget ConstraintShow Class 
L1 15 Demand and Supply Analysis: The Firm
L1 15 Demand and Supply Analysis: The Firm
Flashcard Maker: Steven Popovic
91 Cards –16 Decks –1 LearnerSample Decks: Practice, A, BShow Class 
L1 16 The Firm and Market Structures
L1 16 The Firm and Market Structures
Flashcard Maker: Steven Popovic
49 Cards –14 Decks –3 LearnersSample Decks: A, C Describe a firms supply function under each market structure, G Describe the use and limitations of concentration measures in identifying market structureShow Class 
L1 17 Aggregate Output, Prices, and Economic Growth
L1 17 Aggregate Output, Prices, and Economic Growth
Flashcard Maker: Steven Popovic
50 Cards –15 Decks –1 LearnerSample Decks: A Calculate and explain GDP as expenditure and income, B, C, D Compare GDP, National Income, Personal Income, and Personal Disposable Income, E Explain the fundamental relationship among saving, investment, the fiscal balance, and trade balanceShow Class 
L1 18 Understanding Business Cycles
L1 18 Understanding Business Cycles
Flashcard Maker: Steven Popovic
37 Cards –9 Decks –1 LearnerSample Decks: A Describe the Business Cycle and Its Phases, B Describe how resource use, housing sector acticity, and external trade sector activity vary as an economy moves through the business cycle, C Describe Theories of the Business CycleShow Class 
L1 19 Monetary and Fiscal Policy
L1 19 Monetary and Fiscal Policy
Flashcard Maker: Steven Popovic
19 Cards –20 Decks –3 LearnersSample Decks: Monetary and Fiscal Policy, a compare monetary and fiscal policy;, b describe functions and definitions of money;Show Class 
L1 20 International Trade and Capital Flows
L1 20 International Trade and Capital Flows
Flashcard Maker: Steven Popovic
11 Cards –10 Decks –1 LearnerSample Decks: International Trade and Capital Flows, a compare gross domestic product and gross national product;, b describe benefits and costs of international trade;Show Class 
L1 21 Currency Exchange Rates
L1 21 Currency Exchange Rates
Flashcard Maker: Steven Popovic
13 Cards –11 Decks –1 LearnerSample Decks: Currency Exchange Rates, a define an exchange rate, and distinguish between nominal and real exchange rates and spot and forward exchange rates;, b describe functions of and participants in the foreign exchange market;Show Class 
L1 22 Financial Statement Analysis: An Introduction
L1 22 Financial Statement Analysis: An Introduction
Flashcard Maker: Steven Popovic
28 Cards –6 Decks –2 LearnersSample Decks: A describe the roles of financial reporting and financial statement analysis;, B describe the roles of the key financial statements (statement of financial position, statement of comprehensive income, statement of changes in equity, and statement of cash flows) in evaluating a company’s performance and financial position;, C describe the importance of financial statement notes and supplementary information —including disclosures of accounting policies, methods, and estimates— and management’s commentary;Show Class 
L1 23 Financial Reporting Mechanics
L1 23 Financial Reporting Mechanics
Flashcard Maker: Steven Popovic
73 Cards –7 Decks –1 LearnerSample Decks: A explain the relationship of financial statement elements and accounts, and classify accounts into the financial statement elements;, B explain the accounting equation in its basic and expanded forms;, C describe the process of recording business transactions using an accounting system based on the accounting equation;Show Class 
L1 24 Financial Reporting Standards
L1 24 Financial Reporting Standards
Flashcard Maker: Steven Popovic
37 Cards –9 Decks –1 LearnerSample Decks: A describe the objective of financial statements and the importance of financial reporting standards in security analysis and valuation;, B describe roles and desirable attributes of financial reporting standardsetting bodies and regulatory authorities in establishing and enforcing reporting standards, and describe the role of the International Organization of Securities Commissions;, C describe the status of global convergence of accounting standards and ongoing barriers to developing one universally accepted set of financial reporting standards;Show Class 
L1 25 Understanding Income Statements
L1 25 Understanding Income Statements
Flashcard Maker: Steven Popovic
93 Cards –10 Decks –3 LearnersSample Decks: A describe the components of the income statement and alternative presentation formats of that statement;, B describe general principles of revenue recognition and accrual accounting, specific revenue recognition applications (including accounting for longterm contracts, installment sales, barter transactions, gross and net reporting of revenue), and implications of revenue recognition principles for fi, D describe general principles of expense recognition, specific expense recognition applications, and implications of expense recognition choices for financial analysis;Show Class 
L1 26 Understanding Balance Sheets
L1 26 Understanding Balance Sheets
Flashcard Maker: Steven Popovic
76 Cards –9 Decks –3 LearnersSample Decks: A describe the elements of the balance sheet: assets, liabilities, and equity;, B describe uses and limitations of the balance sheet in financial analysis;, E. Describe different types of assets and liabilities and the measurement bases of eachShow Class 
L1 27 Understanding Cash Flow Statements
L1 27 Understanding Cash Flow Statements
Flashcard Maker: Steven Popovic
65 Cards –10 Decks –3 LearnersSample Decks: A compare cash flows from operating, investing, and financing activities and classify cash flow items as relating to one of those three categories given a description of the items;, B describe how noncash investing and financing activities are reported;, C contrast cash flow statements prepared under International Financial Reporting Standards (IFRS) and U.S. generally accepted accounting principles (U.S. GAAP);Show Class 
L1 28 Financial Analysis Techniques
L1 28 Financial Analysis Techniques
Flashcard Maker: Steven Popovic
35 Cards –6 Decks –1 LearnerSample Decks: A describe tools and techniques used in financial analysis, including their uses and limitations;, B classify, calculate, and interpret activity, liquidity, solvency, profitability, and valuation ratios;, C describe relationships among ratios and evaluate a company using ratio analysis;Show Class 
L1 29 Investories
L1 29 Investories
Flashcard Maker: Steven Popovic
79 Cards –9 Decks –1 LearnerSample Decks: a distinguish between costs included in inventories and costs recognized as expenses in the period in which they are incurred;, B describe different inventory valuation methods (cost formulas);, AShow Class 
L1 30 LongLived Assets
L1 30 LongLived Assets
Flashcard Maker: Steven Popovic
35 Cards –12 Decks –1 LearnerSample Decks: C describe the different depreciation methods for property, plant, and equipment, the effect of the choice of depreciation method on the financial statements, and the effects of assumptions concerning useful life and residual value on depreciation expense;, Practice , A Dist. between costs that are capitalized and costs that are expensed in the period in which they are incurredShow Class 
L1 31 Income Taxes
L1 31 Income Taxes
Flashcard Maker: Steven Popovic
29 Cards –10 Decks –1 LearnerSample Decks: A. Describe the diff. between Accting profit and taxable income, and define key terms, including deferred tax assets, deferred liabilities, valuation allowance, taxes payable, and income tax expense, B. Explain how deferred tax liabilities and assets are created and the factors that determine how a companys deferred tax liabilities and assets should be treated for the purpose of financial analysis, C. Calculate the tax base of a company's assets and liabilitiesShow Class 
L1 32 NonCurrent (LongTerm) Liabilities
L1 32 NonCurrent (LongTerm) Liabilities
Flashcard Maker: Steven Popovic
15 Cards –12 Decks –1 LearnerSample Decks: Financing Liabilities and Bond Terminology, A Determine the initial recognition, initial measurement and subsequent measurement of bonds, B Describe the effective intrest method and calculate interst expense, amortisation of bond discounts/premiums, and interest paymentsShow Class 
L1 33 Financial Repo Red Flags and warnings
L1 33 Financial Repo Red Flags and warnings
Flashcard Maker: Steven Popovic
27 Cards –5 Decks –1 LearnerSample Decks: Practice , A describe incentives that might induce a company’s executives to manage reported earnings, financial positions, and cash flows;, B describe activities that will result in a low quality of earnings;Show Class 
L1 34 Shenanigans on the Cash Flow Statement
L1 34 Shenanigans on the Cash Flow Statement
Flashcard Maker: Steven Popovic
12 Cards –4 Decks –1 LearnerSample Decks: Practice , Intro, A describe reasons for investors to assess the quality of cash flow statements;Show Class 
L1 35 Financial Statement Analysis: Applications
L1 35 Financial Statement Analysis: Applications
Flashcard Maker: Steven Popovic
19 Cards –5 Decks –1 LearnerSample Decks: A evaluate a company’s past financial performance and explain how a company’s strategy is reflected in past financial performance;, B forecast a company’s future net income and cash flow;, C describe the role of financial statement analysis in assessing the credit quality of a potential debt investment;Show Class 
L1 36 Capital Budgeting
L1 36 Capital Budgeting
Flashcard Maker: Steven Popovic
132 Cards –8 Decks –3 LearnersSample Decks: Capital Budgeting, Practice , b describe the basic principles of capital budgeting, including cash flow estimation;Show Class 
L1 42 Portfolio Management: An Overview
L1 42 Portfolio Management: An Overview
Flashcard Maker: Steven Popovic
78 Cards –6 Decks –1 LearnerSample Decks: A. Portfolio Management: An Overview, B describe types of investors and distinctive characteristics and needs of each;, A. Portfolio Approach to InvestingShow Class 
L1 46 Market Organization and Structure
L1 46 Market Organization and Structure
Flashcard Maker: Steven Popovic
102 Cards –13 Decks –1 LearnerSample Decks: Market Organization and Structure, A. Fin. Sys. (People, IS, Efficient Allocation); explain the main functions of the financial system;, B (describe classifications of assets and markets;) C. Asset and Market classes (describe the major types of securities, currencies, contracts, commodities, and real assets that trade in organized markets, including their distinguishing characteristics and major subtypes;)Show Class 
L1 47 Security Market Indices
L1 47 Security Market Indices
Flashcard Maker: Steven Popovic
40 Cards –12 Decks –1 LearnerSample Decks: A. Describe a security market index., B** Calculate and interpret the value, price return, and total return of an index., D**. Compare the Diff. Weighting Methods used in Index ConstructionShow Class 
L1 48 Market Efficiency
L1 48 Market Efficiency
Flashcard Maker: Steven Popovic
31 Cards –7 Decks –1 LearnerSample Decks: A Describe market efficiency and related concepts, including their importance to investment practitioners., B Distinguish between market value and intrinsic value., C Explain factors affecting a market's efficiency.Show Class 
L1 49 Overview of Equity Securities
L1 49 Overview of Equity Securities
Flashcard Maker: Steven Popovic
35 Cards –8 Decks –1 LearnerSample Decks: A. Describe Characteristics of Types of Equity Securities, B Discuss the differences in voting rights and other ownership characteristics among various equity classes, C. Distinguish between public and private equity securitiesShow Class 
L1 50 Introduction to Industry and Company Analysis
L1 50 Introduction to Industry and Company Analysis
Flashcard Maker: Steven Popovic
57 Cards –11 Decks –1 LearnerSample Decks: A. Explain the uses of industry analysis and the relationship of industry analysis to company analysis, B. Compare and contrast the methods by which companies can be grouped, current industry classification systems, and classify a company, given a description of its activities and the classification system, CExplain the factors that affect the sensitivity of a company to the business cycle and the uses and limitations of industry and company descriptors such as “growth,” “defensive,” and “cyclical”Show Class 
L1 51 Equity Valuation: Concepts and Basic Tools
L1 51 Equity Valuation: Concepts and Basic Tools
Flashcard Maker: Steven Popovic
28 Cards –11 Decks –2 LearnersSample Decks: A: Evaluate whether a security, given its current market price and a value estimate, is overvalued, fairly valued or undervalued by the market, B: Describe major categories of equity valuation models, C Explain the rationale for using present‐value of cash flow models to value equity and describe the dividend discount and free‐cash‐flow‐to‐equity modelsShow Class 
L1 52 FixedIncome Securities: Defining Elements
L1 52 FixedIncome Securities: Defining Elements
Flashcard Maker: Steven Popovic
0 Cards –6 Decks –1 LearnerSample Decks: a describe the basic features of a fixedincome security;, b describe functions of a bond indenture;, c compare affirmative and negative covenants and identify examples of each;Show Class 
L1 53 FixedIncome Markets: Issuance, Trading, and Funding
L1 53 FixedIncome Markets: Issuance, Trading, and Funding
Flashcard Maker: Steven Popovic
0 Cards –8 Decks –1 LearnerSample Decks: a describe classifications of global fixedincome markets;, b describe the use of interbank offered rates as reference rates in floatingrate debt;, c describe mechanisms available for issuing bonds in primary markets;Show Class 
L1 54 Introduction to FixedIncome Valuation
L1 54 Introduction to FixedIncome Valuation
Flashcard Maker: Steven Popovic
0 Cards –9 Decks –1 LearnerSample Decks: a calculate a bond’s price given a market discount rate;, b identify the relationships among a bond’s price, coupon rate, maturity, and market discount rate (yieldto maturity);, c define spot rates and calculate the price of a bond using spot rates;Show Class 
L1 55 Understanding FixedIncome RIsk and Return
L1 55 Understanding FixedIncome RIsk and Return
Flashcard Maker: Steven Popovic
0 Cards –11 Decks –1 LearnerSample Decks: a calculate and interpret the sources of return from investing in a fixedrate bond;, b define, calculate, and interpret Macaulay, modified, and effective durations;, c explain why effective duration is the most appropriate measure of interest rate risk for bonds with embedded options;Show Class 
L1 56 Fundamentals of Credit Analysis
L1 56 Fundamentals of Credit Analysis
Flashcard Maker: Steven Popovic
0 Cards –10 Decks –1 LearnerSample Decks: a describe credit risk and creditrelated risks affecting corporate bonds;, b describe seniority rankings of corporate debt and explain the potential violation of the priority of claims in a bankruptcy proceeding;, c distinguish between corporate issuer credit ratings and issue credit ratings and describe the rating agency practice of “notching”;Show Class 
L1 57 Derivative Markets and Instruments
L1 57 Derivative Markets and Instruments
Flashcard Maker: Steven Popovic
112 Cards –7 Decks –1 LearnerSample Decks: Derivative Markets And Instruments, A define a derivative, and distinguish between exchangetraded and overthecounter derivatives, B contrast forward commitments with contingent claimsShow Class 
L1 58 Forward Markets and Contracts
L1 58 Forward Markets and Contracts
Flashcard Maker: Steven Popovic
27 Cards –9 Decks –1 LearnerSample Decks: 58.A: EXPLAIN DELIVERY/SETTLEMENT AND DEFAULT RISK FOR BOTH LONG AND SHORT POSITIONS IN A FORWARD CONTRACT;, B DESCRIBE THE PROCEDURES FOR SETTLING A FORWARD CONTRACT AT EXPIRATION, AND HOW TERMINATION PRIOR TO EXPIRATION CAN AFFECT CREDIT RISK;, 58.C: DISTINGUISH BETWEEN A DEALER AND AN END USER OF A FORWARD CONTRACT;Show Class 
L1 59 Futures Markets and Contracts
L1 59 Futures Markets and Contracts
Flashcard Maker: Steven Popovic
14 Cards –7 Decks –1 LearnerSample Decks: LOS 59.E: DESCRIBE HOW A FUTURES CONTRACT CAN BE TERMINATED AT OR PRIOR TO EXPIRATION;, LOS 59.F: DESCRIBE THE CHARACTERISTIC OF THE FOLLOWING TYPES OF FUTURES CONTRACTS: TREASURY BILL, EURODOLLAR, TREASURY BOND, STOCK INDEX AND CURRENCY;, a describe the characteristics of futures contracts;Show Class 
L1 60 Option Markets and Contracts
L1 60 Option Markets and Contracts
Flashcard Maker: Steven Popovic
16 Cards –17 Decks –2 LearnersSample Decks: A,B,C, A  D Options Terminology, The Mechanics of Trading Options, 60.F: COMPARE INTEREST RATE OPTIONS WITH FORWARD RATE AGREEMENTS (FRAS)Show Class 
L1 61 Swap Markets and Contracts
L1 61 Swap Markets and Contracts
Flashcard Maker: Steven Popovic
6 Cards –2 Decks –1 LearnerSample Decks: A describe characteristics of swap contracts and explain how swaps are terminated;, B describe, calculate, and interpret the payments of currency swaps, plain vanilla interest rate swaps, and equity swaps.,Show Class 
L1 62 Risk Management Applications of Option Strategies
L1 62 Risk Management Applications of Option Strategies
Flashcard Maker: Steven Popovic
7 Cards –3 Decks –1 LearnerSample Decks: Practice , A determine the value at expiration, the profit, maximum profit, maximum loss, breakeven underlying price at expiration, and payoff graph of the strategies of buying and selling calls and puts and determine the potential outcomes for investors using these strategies;, b determine the value at expiration, profit, maximum profit, maximum loss, breakeven underlying price at expiration, and payoff graph of a covered call strategy and a protective put strategy, and explain the risk management application of each strategy.Show Class 
L1 63 Introduction to Alternative Investments
L1 63 Introduction to Alternative Investments
Flashcard Maker: Steven Popovic
6 Cards –8 Decks –1 LearnerSample Decks: Practice , a. compare alternative investments with traditional investments, b describe categories of alternative investments;Show Class 
Financial Formulas
Financial Formulas
Flashcard Maker: Steven Popovic
59 Cards –13 Decks –1 LearnerSample Decks: Activity Ratios, Liquidity Ratios, Solvency RatiosShow Class 
Chart of Accounts
Chart of Accounts
Flashcard Maker: Steven Popovic
84 Cards –61 Decks –3 LearnersSample Decks: Chart of Accounts Overview, Accounts Payable, Accounts RecievableShow Class 
Qbank
Qbank
Flashcard Maker: Steven Popovic
24 Cards –3 Decks –1 LearnerSample Decks: R25A Describe the components of the income statement and alternative presentation formats of that statement., 25B b: Describe general principles of revenue recognition and accrual accounting, specific revenue recognition applications (including accounting for longterm contracts, installment sales, barter transactions, gross and net reporting of revenue), and implications of revenue recognition principles f, 25C Calculate revenue given information that might influence the choice of revenue recognition method.Show Class 
Big Ass Ratio List
Show Class

Define
Define
Flashcard Maker: Steven Popovic
14 Cards –8 Decks –1 LearnerSample Decks: Define, A, 9 A Probability Dist. Cont V. Discreet Random Variable + Prob FunctionsShow Class 
Series 65
Series 65
Flashcard Maker: Steven Popovic
29 Cards –2 Decks –2 LearnersSample Decks: Equity and Debt Securities, 3.8% Trading Securities,Show Class 
Unit 1 Equity and Debt Securities
Unit 1 Equity and Debt Securities
Flashcard Maker: Steven Popovic
247 Cards –2 Decks –26 LearnersSample Decks: Equity Securities, Fixed Income (Debt Securities),Show Class 
Unit 2 Other Securities Products
Unit 2 Other Securities Products
Flashcard Maker: Steven Popovic
0 Cards –4 Decks –1 LearnerSample Decks: Investment Company Securities, InsuranceBased Products, Direct Participation Programs (DPP's)Show Class 
Unit 3 Trading Securities
Unit 3 Trading Securities
Flashcard Maker: Steven Popovic
0 Cards –1 Decks –1 LearnerSample Decks: Markets and Market Participants,Show Class 
Unit 4 Retirement Plans
Unit 4 Retirement Plans
Flashcard Maker: Steven Popovic
0 Cards –7 Decks –1 LearnerSample Decks: Individual Retirement Arrangements (IRAs), Keogh (HR10) Plans, 403(b) Plans (TaxExempt Organizations)Show Class 
Unit 5 Customer Accounts
Unit 5 Customer Accounts
Flashcard Maker: Steven Popovic
0 Cards –2 Decks –1 LearnerSample Decks: Opening Customer Accounts, Types of Accounts,Show Class 
Unit 6 Clients, Portfolio Management Styles, and Taxation
Unit 6 Clients, Portfolio Management Styles, and Taxation
Flashcard Maker: Steven Popovic
0 Cards –5 Decks –1 LearnerSample Decks: Types of Clients, Client Personal Profile, Financial Goals/ObjectivesShow Class 
Unit 7 Economic Factors, Business Information, Strategies, and Risks
Unit 7 Economic Factors, Business Information, Strategies, and Risks
Flashcard Maker: Steven Popovic
0 Cards –8 Decks –1 LearnerSample Decks: Basic Economics, Interest Rates and Yield Curves, Economic IndicatorsShow Class 
Uncertainty
Uncertainty
Flashcard Maker: Steven Popovic
8 Cards –6 Decks –1 LearnerSample Decks: Objective Uncertainty, Subjective Uncertainty, Moral UncertaintyShow Class 
L1 37 Cost of Capital
L1 37 Cost of Capital
Flashcard Maker: Steven Popovic
0 Cards –12 Decks –1 LearnerSample Decks: a calculate and interpret the weighted average cost of capital (WACC) of a company;, b describe how taxes affect the cost of capital from different capital sources;, c explain alternative methods of calculating the weights used in the WACC, including the use of the company’s target capital structure;Show Class 
L1 38 Measures of Leverage
L1 38 Measures of Leverage
Flashcard Maker: Steven Popovic
0 Cards –5 Decks –1 LearnerSample Decks: a define and explain leverage, business risk, sales risk, operating risk, and financial risk, and classify a risk, given a description;, b calculate and interpret the degree of operating leverage, the degree of financial leverage, and the degree of total leverage;, c describe the effect of financial leverage on a company’s net income and return on equity;Show Class 
L1 39 Dividends and Share Repurchases: Basics
L1 39 Dividends and Share Repurchases: Basics
Flashcard Maker: Steven Popovic
0 Cards –6 Decks –1 LearnerSample Decks: a describe regular cash dividends, extra dividends, stock dividends, stock splits, and reverse stock splits, including their expected effect on shareholders’ wealth and a company’s financial ratios;, b describe dividend payment chronology, including the significance of declaration, holderof record, exdividend, and payment dates;, c compare share repurchase methods;Show Class 
L1 40 Working Capital Management
L1 40 Working Capital Management
Flashcard Maker: Steven Popovic
0 Cards –7 Decks –1 LearnerSample Decks: a describe primary and secondary sources of liquidity and factors that influence a company’s liquidity position;, b compare a company’s liquidity measures with those of peer companies;, c evaluate working capital effectiveness of a company based on its operating and cash conversion cycles, and compare the company’s effectiveness with that of peer companies;Show Class 
L1 41 The Corporate Governance of Listed Companies:
L1 41 The Corporate Governance of Listed Companies:
Flashcard Maker: Steven Popovic
0 Cards –7 Decks –1 LearnerSample Decks: a define corporate governance;, b describe practices related to board and committee independence, experience, compensation, external consultants, and frequency of elections, and determine whether they are supportive of shareowner protection;, c describe board independence and explain the importance of independent board members in corporate governance;Show Class 
L1 43 Portfolio Risk and Return: Part I
L1 43 Portfolio Risk and Return: Part I
Flashcard Maker: Steven Popovic
0 Cards –8 Decks –1 LearnerSample Decks: a calculate and interpret major return measures and describe their appropriate uses;, b describe characteristics of the major asset classes that investors consider in forming portfolios;, c calculate and interpret the mean, variance, and covariance (or correlation) of asset returns based on historical data;Show Class 
L1 44 Portfolio Risk and Return: Part II
L1 44 Portfolio Risk and Return: Part II
Flashcard Maker: Steven Popovic
0 Cards –8 Decks –1 LearnerSample Decks: a describe the implications of combining a riskfree asset with a portfolio of risky assets;, b explain the capital allocation line (CAL) and the capital market line (CML);, c explain systematic and nonsystematic risk, including why an investor should not expect to receive additional return for bearing nonsystematic risk;Show Class 
L1 45 Basics of Portfolio Planning and Construction
L1 45 Basics of Portfolio Planning and Construction
Flashcard Maker: Steven Popovic
0 Cards –7 Decks –1 LearnerSample Decks: a describe the reasons for a written investment policy statement (IPS);, b describe the major components of an IPS;, c describe risk and return objectives and how they may be developed for a client;Show Class 
L2 01 CODE OF ETHICS AND STANDARDS OF PROFESSIONAL CONDUCT
L2 01 CODE OF ETHICS AND STANDARDS OF PROFESSIONAL CONDUCT
Flashcard Maker: Steven Popovic
0 Cards –2 Decks –1 LearnerSample Decks: a describe the six components of the Code of Ethics and the seven Standards of Professional Conduct;, b explain the ethical responsibilities required of CFA Institute members and candidates in the CFA Program by the Code and Standards.,Show Class 
L2 02 GUIDANCE FOR STANDARDS I–VII
L2 02 GUIDANCE FOR STANDARDS I–VII
Flashcard Maker: Steven Popovic
0 Cards –2 Decks –1 LearnerSample Decks: a demonstrate a thorough knowledge of the Code of Ethics and Standards of Professional Conduct by applying the Code and Standards to specific situations;, b recommend practices and procedures designed to prevent violations of the Code of Ethics and Standards of Professional Conduct.,Show Class 
L2 03 CFA INSTITUTE SOFT DOLLAR STANDARDS
L2 03 CFA INSTITUTE SOFT DOLLAR STANDARDS
Flashcard Maker: Steven Popovic
0 Cards –3 Decks –1 LearnerSample Decks: a define softdollar arrangements, and state the general principles of the Soft Dollar Standards;, b evaluate company softdollar practices and policies;, c determine whether a product or service qualifies as “permissible research” that can be purchased with client brokerage.Show Class 
L2 04 CFA INSTITUTE RESEARCH OBJECTIVITY STANDARDS
L2 04 CFA INSTITUTE RESEARCH OBJECTIVITY STANDARDS
Flashcard Maker: Steven Popovic
0 Cards –2 Decks –1 LearnerSample Decks: a explain the objectives of the Research Objectivity Standards;, b evaluate company policies and practices related to research objectivity, and distinguish between changes required and changes recommended for compliance with the Research Objectivity Standards.,Show Class 
L2 05 The Glenarm Company
L2 05 The Glenarm Company
Flashcard Maker: Steven Popovic
0 Cards –2 Decks –1 LearnerSample Decks: a evaluate the practices and policies presented;, b explain the appropriate action to take in response to conduct that violates the CFA Institute Code of Ethics and Standards of Professional Conduct.,Show Class 
L2 06 Preston Partners
L2 06 Preston Partners
Flashcard Maker: Steven Popovic
0 Cards –2 Decks –1 LearnerSample Decks: a evaluate the practices and policies presented;, b explain the appropriate action to take in response to conduct that violates the CFA Institute Code of Ethics and Standards of Professional Conduct.,Show Class 
L2 07 Super Selection
L2 07 Super Selection
Flashcard Maker: Steven Popovic
0 Cards –2 Decks –1 LearnerSample Decks: a evaluate the practices and policies presented;, b explain the appropriate action to take in response to conduct that violates the CFA Institute Code of Ethics and Standards of Professional Conduct.,Show Class 
L2 08 Trade Allocation: Fair Dealing and Disclosure
L2 08 Trade Allocation: Fair Dealing and Disclosure
Flashcard Maker: Steven Popovic
0 Cards –2 Decks –1 LearnerSample Decks: a evaluate trade allocation practices, and determine whether they comply with the CFA Institute Standards of Professional Conduct addressing fair dealing and client loyalty;, b describe appropriate actions to take in response to trade allocation practices that do not adequately respect client interests.,Show Class 
L2 09 Changing Investment Objectives
L2 09 Changing Investment Objectives
Flashcard Maker: Steven Popovic
0 Cards –2 Decks –1 LearnerSample Decks: a evaluate the disclosure of investment objectives and basic policies, and determine whether they comply with the CFA Institute Standards of Professional Conduct;, b describe appropriate actions needed to ensure adequate disclosure of the investment process.,Show Class 
L2 10 Prudence in Perspective
L2 10 Prudence in Perspective
Flashcard Maker: Steven Popovic
0 Cards –4 Decks –1 LearnerSample Decks: a explain the basic principles of the new Prudent Investor Rule;, b explain general fiduciary standards to which a trustee must adhere;, c distinguish between the old Prudent Man Rule and the new Prudent Investor Rule;Show Class 
L2 11 Correlation and Regression
L2 11 Correlation and Regression
Flashcard Maker: Steven Popovic
0 Cards –11 Decks –1 LearnerSample Decks: a calculate and interpret a sample covariance and a sample correlation coefficient, and interpret a scatter plot;, c formulate a test of the hypothesis that the population correlation coefficient equals zero, and determine whether the hypothesis is rejected at a given level of significance;, b describe limitations to correlation analysis;Show Class 
L2 12 Multiple Regression and Issues in Regression Analysis
L2 12 Multiple Regression and Issues in Regression Analysis
Flashcard Maker: Steven Popovic
0 Cards –15 Decks –1 LearnerSample Decks: a formulate a multiple regression equation to describe the relation between a dependent variable and several independent variables, and determine the statistical significance of each independent variable;, b interpret estimated regression coefficients and their pvalues;, c formulate a null and an alternative hypothesis about the population value of a regression coefficient, calculate the value of the test statistic, and determine whether to reject the null hypothesis at a given level of significance;Show Class 
L2 13 TimeSeries Analysis
L2 13 TimeSeries Analysis
Flashcard Maker: Steven Popovic
0 Cards –15 Decks –1 LearnerSample Decks: a calculate and evaluate the predicted trend value for a time series, modeled as either a linear trend or a loglinear trend, given the estimated trend coefficients;, b describe factors that determine whether a linear or a loglinear trend should be used with a particular time series, and evaluate limitations of trend models;, c explain the requirement for a time series to be covariance stationary, and describe the significance of a series that is not stationary;Show Class 
L2 14 Currency Exchange Rates: Determination and Forecasting
L2 14 Currency Exchange Rates: Determination and Forecasting
Flashcard Maker: Steven Popovic
0 Cards –16 Decks –1 LearnerSample Decks: A calculate and interpret the bid–ask spread on a spot or forward foreign currency quotation and describe the factors that affect the bid–offer spread;, b identify a triangular arbitrage opportunity, and calculate its profit, given the bid–offer quotations for three currencies;, c distinguish between spot and forward rates and calculate the forward premium/ discount for a given currency;Show Class 
L2 15 Economic Growth and the Investment Decision
L2 15 Economic Growth and the Investment Decision
Flashcard Maker: Steven Popovic
0 Cards –12 Decks –1 LearnerSample Decks: a compare factors favoring and limiting economic growth in developed and developing economies;, b describe the relation between the longrun rate of stock market appreciation and the sustainable growth rate of the economy;, c explain why potential GDP and its growth rate matter for equity and fixed income investors;Show Class 
L2 16 Economics of Regulation
L2 16 Economics of Regulation
Flashcard Maker: Steven Popovic
0 Cards –9 Decks –1 LearnerSample Decks: a describe classifications of regulations and regulators;, b describe uses of selfregulation in financial markets;, c describe the economic rationale for regulatory intervention;Show Class 
L2 17 Inventories: Implications for Financial Statements and Ratios
L2 17 Inventories: Implications for Financial Statements and Ratios
Flashcard Maker: Steven Popovic
0 Cards –6 Decks –1 LearnerSample Decks: a calculate and explain how inflation and deflation of inventory costs affects the financial statements and ratios of companies that use different inventory valuation methods;, b explain LIFO reserve and LIFO liquidation and their effects on financial statements and ratios;, c convert a company’s reported financial statements from LIFO to FIFO for purposes of comparison;Show Class 
L2 18 Longlived Assets: Implications for Financial Statements and Ratios
L2 18 Longlived Assets: Implications for Financial Statements and Ratios
Flashcard Maker: Steven Popovic
0 Cards –6 Decks –1 LearnerSample Decks: a explain and evaluate how capitalising versus expensing costs in the period in which they are incurred affects financial statements and ratios;, b explain and evaluate how the different depreciation methods for property, plant, and equipment affect financial statements and ratios;, c explain and evaluate how impairment and revaluation of property, plant, and equipment, and intangible assets affect financial statements and ratios;Show Class 
L2 19 Intercorporate Investments
L2 19 Intercorporate Investments
Flashcard Maker: Steven Popovic
0 Cards –3 Decks –1 LearnerSample Decks: a describe the classification, measurement, and disclosure under International Financial Reporting Standards (IFRS) for 1) investments in financial assets, 2) investments in associates, 3) joint ventures, 4) business combinations, and 5) special purpose and variable interest entities;, b distinguish between IFRS and U.S. GAAP in the classification, measurement, and disclosure of investments in financial assets, investments in associates, joint ventures, business combinations, and special purpose and variable interest entities;, c analyze how different methods used to account for intercorporate investments affect financial statements and ratios.Show Class 
L2 20 Employee Compensation: PostEmployment and ShareBased
L2 20 Employee Compensation: PostEmployment and ShareBased
Flashcard Maker: Steven Popovic
0 Cards –8 Decks –1 LearnerSample Decks: a describe the types of postemployment benefit plans and implications for financial reports;, b explain and calculate measures of a defined benefit pension obligation (i.e., present value of the defined benefit obligation and projected benefit obligation) and net pension liability (or asset);, c describe the components of a company’s defined benefit pension costs;Show Class 
L2 21 Multinational Operations
L2 21 Multinational Operations
Flashcard Maker: Steven Popovic
0 Cards –10 Decks –1 LearnerSample Decks: a distinguish among presentation currency, functional currency, and local currency;, b describe foreign currency transaction exposure, including accounting for and disclosures about foreign currency transaction gains and losses;, c analyze how changes in exchange rates affect the translated sales of the subsidiary and parent company;Show Class 
L2 22 The Lessons We Learn
L2 22 The Lessons We Learn
Flashcard Maker: Steven Popovic
0 Cards –3 Decks –1 LearnerSample Decks: a distinguish among various definitions of earnings (e.g., EBITDA, operating earnings, net income, etc.);, b explain how trends in cash flow from operations can be more reliable than trends in earnings;, c describe the accounting treatment for derivatives being used to hedge exposure to changes in the value of assets and liabilities, exposure to variable cash flows, and foreign currency exposure of investments in foreign corporations.Show Class 
L2 23 Evaluating Financial Reporting Quality
L2 23 Evaluating Financial Reporting Quality
Flashcard Maker: Steven Popovic
0 Cards –6 Decks –1 LearnerSample Decks: a contrast cashbasis and accrualbasis accounting, and explain why accounting discretion exists in an accrual accounting system;, b describe the relation between the level of accruals and the persistence of earnings and relative multiples that the cash and accrual components of earnings should rationally receive in valuation;, c explain opportunities and motivations for management to intervene in the external financial reporting process and mechanisms that discipline such intervention;Show Class 
L2 24 Integration of Financial Statement Analysis Techniques
L2 24 Integration of Financial Statement Analysis Techniques
Flashcard Maker: Steven Popovic
0 Cards –5 Decks –1 LearnerSample Decks: a demonstrate the use of a framework for the analysis of financial statements, given a particular problem, question, or purpose (e.g., valuing equity based on comparables, critiquing a credit rating, obtaining a comprehensive picture of financial leverage, evaluating the perspectives given in manage, b identify financial reporting choices and biases that affect the quality and comparability of companies’ financial statements, and explain how such biases affect financial decisions;, c evaluate the quality of a company’s financial data, and recommend appropriate adjustments to improve quality and comparability with similar companies, including adjustments for differences in accounting standards, methods, and assumptions;Show Class 
L2 25 Capital Budgeting
L2 25 Capital Budgeting
Flashcard Maker: Steven Popovic
0 Cards –9 Decks –1 LearnerSample Decks: a calculate the yearly cash flows of expansion and replacement capital projects, and evaluate how the choice of depreciation method affects those cash flows;, b explain the effects of inflation on capital budgeting analysis;, c evaluate capital projects and determine the optimal capital project in situations of 1) mutually exclusive projects with unequal lives, using either the least common multiple of lives approach or the equivalent annual annuity approach, and 2) capital rationing;Show Class 
L2 26 Capital Structure
L2 26 Capital Structure
Flashcard Maker: Steven Popovic
0 Cards –5 Decks –1 LearnerSample Decks: a explain the Modigliani–Miller propositions regarding capital structure, including the effects of leverage, taxes, financial distress, agency costs, and asymmetric information on a company’s cost of equity, cost of capital, and optimal capital structure;, b describe the target capital structure and explain why a company’s actual capital structure may fluctuate around its target;, c describe the role of debt ratings in capital structure policy;Show Class 
L2 27 Dividends and Share Repurchases: Analysis
L2 27 Dividends and Share Repurchases: Analysis
Flashcard Maker: Steven Popovic
0 Cards –10 Decks –1 LearnerSample Decks: a compare theories of dividend policy, and explain implications of each for share value given a description of a corporate dividend action;, b describe types of information (signals) that dividend initiations, increases, decreases, and omissions may convey;, c explain how clientele effects and agency issues may affect a company’s payout policy;Show Class 
L2 28 Corporate Governance
L2 28 Corporate Governance
Flashcard Maker: Steven Popovic
0 Cards –8 Decks –1 LearnerSample Decks: a describe objectives and core attributes of an effective corporate governance system, and evaluate whether a company’s corporate governance has those attributes;, b compare major business forms, and describe the conflicts of interest associated with each;, c explain conflicts that arise in agency relationships, including manager–shareholder conflicts and director–shareholder conflicts;Show Class 
L2 29 Mergers and Acquisitions
L2 29 Mergers and Acquisitions
Flashcard Maker: Steven Popovic
0 Cards –15 Decks –1 LearnerSample Decks: a classify merger and acquisition (M&A) activities based on forms of integration and relatedness of business activities;, b explain common motivations behind M&A activity;, c explain bootstrapping of earnings per share (EPS) and calculate a company’s postmerger EPS;Show Class 
L2 30 Equity Valuation: Applications and Processes
L2 30 Equity Valuation: Applications and Processes
Flashcard Maker: Steven Popovic
0 Cards –8 Decks –1 LearnerSample Decks: a define valuation and intrinsic value, and explain sources of perceived mispricing;, b explain the going concern assumption, and contrast a going concern value to a liquidation value;, c describe definitions of value, and justify which definition of value is most relevant to public company valuation;Show Class 
L2 31 Return Concepts
L2 31 Return Concepts
Flashcard Maker: Steven Popovic
0 Cards –8 Decks –1 LearnerSample Decks: a distinguish among realized holding period return, expected holding period return, required return, return from convergence of price to intrinsic value, discount rate, and internal rate of return;, b calculate and interpret an equity risk premium using historical and forwardlooking estimation approaches;, c estimate the required return on an equity investment using the capital asset pricing model, the Fama–French model, the Pastor–Stambaugh model, macroeconomic multifactor models, and the buildup method (e.g., bond yield plus risk premium);Show Class 
L2 32 The Five Competitive Forces That Shape Strategy
L2 32 The Five Competitive Forces That Shape Strategy
Flashcard Maker: Steven Popovic
0 Cards –4 Decks –1 LearnerSample Decks: a distinguish among the five competitive forces and explain how they drive industry profitability in the medium and long run;, b describe why industry growth rate, technology and innovation, government, and complementary products and services are fleeting factors rather than forces shaping industry structure;, c identify changes in industry structure, and forecast their effects on the industry’s profit potential;Show Class 
L2 33 Your Strategy Needs a Strategy
L2 33 Your Strategy Needs a Strategy
Flashcard Maker: Steven Popovic
0 Cards –3 Decks –1 LearnerSample Decks: b describe how an industry’s predictability and malleability are expected to affect the choice of an appropriate corporate strategy (classical, adaptive, visionary, or shaping);, a describe predictability and malleability as factors in assessing an industry;, c evaluate the predictability and malleability of an industry and select an appropriate strategy.Show Class 
L2 34 Industry and Company Analysis
L2 34 Industry and Company Analysis
Flashcard Maker: Steven Popovic
0 Cards –13 Decks –1 LearnerSample Decks: a compare topdown, bottomup, and hybrid approaches for developing inputs to equity valuation models;, b compare “growth relative to GDP growth” and “market growth and market share” approaches to forecasting revenue;, c evaluate whether economies of scale are present in an industry by analyzing operating margins and sales levels;Show Class 
L2 35 Discounted Dividend Valuation
L2 35 Discounted Dividend Valuation
Flashcard Maker: Steven Popovic
0 Cards –16 Decks –1 LearnerSample Decks: a compare dividends, free cash flow, and residual income as inputs to discounted cash flow models, and identify investment situations for which each measure is suitable;, b calculate and interpret the value of a common stock using the dividend discount model (DDM) for single and multiple holding periods;, c calculate the value of a common stock using the Gordon growth model, and explain the model’s underlying assumptions;Show Class 
L2 36 Free Cash Flow Valuation
L2 36 Free Cash Flow Valuation
Flashcard Maker: Steven Popovic
0 Cards –13 Decks –1 LearnerSample Decks: a compare the free cash flow to the firm (FCFF) and free cash flow to equity (FCFE) approaches to valuation;, b explain the ownership perspective implicit in the FCFE approach;, c explain the appropriate adjustments to net income, earnings before interest and taxes (EBIT), earnings before interest, taxes, depreciation, and amortization (EBITDA), and cash flow from operations (CFO) to calculate FCFF and FCFE;Show Class 
L2 37 MarketBased Valuation: Price and Enterprise Value Multiples
L2 37 MarketBased Valuation: Price and Enterprise Value Multiples
Flashcard Maker: Steven Popovic
0 Cards –18 Decks –1 LearnerSample Decks: a distinguish between the method of comparables and the method based on forecasted fundamentals as approaches to using price multiples in valuation, and explain economic rationales for each approach;, b calculate and interpret a justified price multiple;, c describe rationales for and possible drawbacks to using alternative price multiples and dividend yield in valuation;Show Class 
L2 38 Residual Income Valuation
L2 38 Residual Income Valuation
Flashcard Maker: Steven Popovic
0 Cards –12 Decks –1 LearnerSample Decks: a calculate and interpret residual income, economic value added, and market value added;, b describe the uses of residual income models;, c calculate the intrinsic value of a common stock using the residual income model, and compare value recognition in residual income and other present value models;Show Class 
L2 39 Private Company Valuation
L2 39 Private Company Valuation
Flashcard Maker: Steven Popovic
0 Cards –12 Decks –1 LearnerSample Decks: a compare public and private company valuation;, b describe uses of private business valuation, and explain applications of greatest concern to financial analysts;, c explain various definitions of value, and demonstrate how different definitions can lead to different estimates of value;Show Class 
L2 40 Private Real Estate Investments
L2 40 Private Real Estate Investments
Flashcard Maker: Steven Popovic
0 Cards –13 Decks –1 LearnerSample Decks: a classify and describe basic forms of real estate investments;, b describe the characteristics, the classification, and basic segments of real estate;, c explain the role in a portfolio, economic value determinants, investment characteristics, and principal risks of private real estate;Show Class 
L2 41 Publicly Traded Real Estate Securities
L2 41 Publicly Traded Real Estate Securities
Flashcard Maker: Steven Popovic
0 Cards –8 Decks –1 LearnerSample Decks: a describe types of publicly traded real estate securities;, b explain advantages and disadvantages of investing in real estate through publicly traded securities;, c explain economic value determinants, investment characteristics, principal risks, and due diligence considerations for real estate investment trust (REIT) shares;Show Class 
L2 42 Private Equity Valuation
L2 42 Private Equity Valuation
Flashcard Maker: Steven Popovic
0 Cards –11 Decks –1 LearnerSample Decks: a explain sources of value creation in private equity;, b explain how private equity firms align their interests with those of the managers of portfolio companies;, c distinguish between the characteristics of buyout and venture capital investments;Show Class 
L2 43 Investing in Hedge Funds: A Survey
L2 43 Investing in Hedge Funds: A Survey
Flashcard Maker: Steven Popovic
0 Cards –8 Decks –1 LearnerSample Decks: a distinguish between hedge funds and mutual funds in terms of leverage, use of derivatives, disclosure requirements and practices, lockup periods, and fee structures;, b describe hedge fund strategies;, c explain possible biases in reported hedge fund performance;Show Class 
L2 44 A Primer on Commodity Investing
L2 44 A Primer on Commodity Investing
Flashcard Maker: Steven Popovic
0 Cards –9 Decks –1 LearnerSample Decks: a describe types of market participants in commodity futures markets;, b explain storability and renewability in the context of commodities and determine whether a commodity is storable and/or renewable;, c explain the convenience yield and how it relates to stock (inventory level) of a commodity;Show Class 
L2 45 Credit Analysis Models
L2 45 Credit Analysis Models
Flashcard Maker: Steven Popovic
0 Cards –9 Decks –1 LearnerSample Decks: a explain probability of default, loss given default, expected loss, and present value of the expected loss, and describe the relative importance of each across the credit spectrum;, b explain credit scoring and credit ratings, including why they are called ordinal rankings;, c explain strengths and weaknesses of credit ratings;Show Class 
L2 48 MortgageBacked Sector of the Bond Market
L2 48 MortgageBacked Sector of the Bond Market
Flashcard Maker: Steven Popovic
0 Cards –13 Decks –1 LearnerSample Decks: a describe a mortgage loan, and explain the cash flow characteristics of a fixedrate, level payment, and fully amortized mortgage loan;, b explain investment characteristics, payment characteristics, and risks of mortgage passthrough securities;, c calculate the prepayment amount on a mortgage passthrough security for a month, given the single monthly mortality rate;Show Class 
L2 49 AssetBacked Sector of the Bond Market
L2 49 AssetBacked Sector of the Bond Market
Flashcard Maker: Steven Popovic
0 Cards –7 Decks –1 LearnerSample Decks: a describe the basic structural features of and parties to a securitization transaction;, b explain and contrast prepayment tranching and credit tranching;, c distinguish between the payment structure and collateral structure of a securitization backed by amortizing assets and nonamortizing assets;Show Class 
L2 50 Valuing MortgageBacked and AssetBacked Securities
L2 50 Valuing MortgageBacked and AssetBacked Securities
Flashcard Maker: Steven Popovic
0 Cards –9 Decks –1 LearnerSample Decks: a explain the calculation, use, and limitations of the cash flow yield, nominal spread, and zerovolatility spread for a mortgagebacked security and an assetbacked security;, b describe the Monte Carlo simulation model for valuing a mortgagebacked security;, c describe path dependency in passthrough securities and the implications for valuation models;Show Class 
L2 51 Forward Markets and Contracts
L2 51 Forward Markets and Contracts
Flashcard Maker: Steven Popovic
0 Cards –4 Decks –1 LearnerSample Decks: a explain how the value of a forward contract is determined at initiation, during the life of the contract, and at expiration;, b calculate and interpret the price and value of an equity forward contract, assuming dividends are paid either discretely or continuously;, c calculate and interpret the price and value of 1) a forward contract on a fixedincome security, 2) a forward rate agreement (FRA), and 3) a forward contract on a currency;Show Class 
L2 52 Futures Markets and Contracts
L2 52 Futures Markets and Contracts
Flashcard Maker: Steven Popovic
0 Cards –8 Decks –1 LearnerSample Decks: a explain why the futures price must converge to the spot price at expiration;, b determine the value of a futures contract;, c explain why forward and futures prices differ;Show Class 
L2 53 Option Markets and Contracts
L2 53 Option Markets and Contracts
Flashcard Maker: Steven Popovic
0 Cards –10 Decks –1 LearnerSample Decks: a calculate and interpret the prices of a synthetic call option, synthetic put option, synthetic bond, and synthetic underlying stock, and explain why an investor would want to create such instruments;, b calculate and interpret prices of interest rate options and options on assets using one and twoperiod binomial models;, c explain and evaluate the assumptions underlying the Black–Scholes–Merton model;Show Class 
L2 54 Swap Markets and Contracts
L2 54 Swap Markets and Contracts
Flashcard Maker: Steven Popovic
0 Cards –10 Decks –1 LearnerSample Decks: a distinguish between the pricing and valuation of swaps;, b explain the equivalence of 1) interest rate swaps to a series of offmarket forward rate agreements (FRAs) and 2) a plain vanilla swap to a combination of an interest rate call and an interest rate put;, c calculate and interpret the fixed rate on a plain vanilla interest rate swap and the market value of the swap during its life;Show Class 
L2 55 Interest Rate Derivative Instruments
L2 55 Interest Rate Derivative Instruments
Flashcard Maker: Steven Popovic
0 Cards –2 Decks –1 LearnerSample Decks: a demonstrate how both a cap and a floor are packages of 1) options on interest rates and 2) options on fixedincome instruments;, b calculate the payoff for a cap and a floor, and explain how a collar is created.,Show Class 
L2 56 Credit Default Swaps
L2 56 Credit Default Swaps
Flashcard Maker: Steven Popovic
0 Cards –5 Decks –1 LearnerSample Decks: a describe credit default swaps (CDS), singlename 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;Show Class 
L2 57 Portfolio Concepts
L2 57 Portfolio Concepts
Flashcard Maker: Steven Popovic
1 Cards –15 Decks –1 LearnerSample Decks: A NOTE ON THE TERMINOLOGY OF ACTIVE PORTFOLIO MANAGEMENT, a explain mean–variance analysis and its assumptions, and calculate the expected return and the standard deviation of return for a portfolio of two or three assets;, b describe the minimumvariance and efficient frontiers, and explain the steps to solve for the minimumvariance frontier;Show Class 
L2 58 Residual Risk and Return: The Information Ratio
L2 58 Residual Risk and Return: The Information Ratio
Flashcard Maker: Steven Popovic
0 Cards –5 Decks –1 LearnerSample Decks: a define the terms “alpha” and “information ratio” in both their ex post and ex ante senses;, b compare the information ratio and the alpha’s Tstatistic;, c explain the objective of active management in terms of value added;Show Class 
L2 59 The Fundamental Law of Active Management
L2 59 The Fundamental Law of Active Management
Flashcard Maker: Steven Popovic
0 Cards –5 Decks –1 LearnerSample Decks: a define the terms “information coefficient” and “breadth” and describe how they combine to determine the information ratio;, b describe how the optimal level of residual risk of an investment strategy changes with information coefficient and breadth, and how the value added of an investment strategy changes with information coefficient and breadth;, c contrast market timing and security selection in terms of breadth and required investment skill;Show Class 
L2 60 The Portfolio Management Process
L2 60 The Portfolio Management Process
Flashcard Maker: Steven Popovic
0 Cards –7 Decks –1 LearnerSample Decks: a explain the importance of the portfolio perspective;, b describe the steps of the portfolio management process and the components of those steps;, c explain the role of the investment policy statement in the portfolio management process, and describe the elements of an investment policy statement;Show Class 
L2 46 Term Structure and Volatility of Interest Rates
L2 46 Term Structure and Volatility of Interest Rates
Flashcard Maker: Steven Popovic
0 Cards –7 Decks –1 LearnerSample Decks: a explain parallel and nonparallel shifts in the yield curve;, b describe factors that drive U.S. Treasury security returns, and evaluate the importance of each factor;, c explain various universes of Treasury securities that are used to construct the theoretical spot rate curve, and evaluate their advantages and disadvantages;Show Class 
L2 47 Valuing Bonds with Embedded Options
L2 47 Valuing Bonds with Embedded Options
Flashcard Maker: Steven Popovic
0 Cards –11 Decks –1 LearnerSample Decks: a evaluate, using relative value analysis, whether a security is undervalued, fairly valued, or overvalued;, b evaluate the importance of benchmark interest rates in interpreting spread measures;, c describe the backward induction valuation methodology within the binomial interest rate tree framework;Show Class 
L3 01 Code of Ethics and Standards of Professional Conduct
L3 01 Code of Ethics and Standards of Professional Conduct
Flashcard Maker: Steven Popovic
0 Cards –2 Decks –1 LearnerSample Decks: a describe the structure of the CFA Institute Professional Conduct Program and the disciplinary review process for the enforcement of the Code of Ethics and Standards of Professional Conduct;, b explain the ethical responsibilities required by the Code of Ethics and the Standards of Professional Conduct, including the multiple sub sections of each standard.,Show Class 
L3 02 Guidance for Standards I–VII
L3 02 Guidance for Standards I–VII
Flashcard Maker: Steven Popovic
0 Cards –2 Decks –1 LearnerSample Decks: a demonstrate a thorough knowledge of the Code of Ethics and Standards of Professional Conduct by interpreting the Code and Standards in various situations involving issues of professional integrity;, b recommend practices and procedures designed to prevent violations of the Code of Ethics and Standards of Professional Conduct.,Show Class 
L3 03 Ethics in Practice
L3 03 Ethics in Practice
Flashcard Maker: Steven Popovic
0 Cards –2 Decks –1 LearnerSample Decks: a explain the ethical and professional responsibilities of CFA Institute members and CFA candidates required by each of the six provisions of the Code of Ethics and the seven Standards of Professional Conduct;, b interpret the Code of Ethics and Standards of Professional Conduct in situations involving issues of professional integrity and formulate corrective actions where appropriate.,Show Class 
L3 04 The Consultant
L3 04 The Consultant
Flashcard Maker: Steven Popovic
0 Cards –2 Decks –1 LearnerSample Decks: a evaluate professional conduct and formulate an appropriate response to actions that violate the Code of Ethics and Standards of Professional Conduct;, b formulate appropriate policy and procedural changes needed to assure compliance with the Code of Ethics and Standards of Professional Conduct.,Show Class 
L3 05 Pearl Investment Management (A), (B), and (C)
L3 05 Pearl Investment Management (A), (B), and (C)
Flashcard Maker: Steven Popovic
0 Cards –2 Decks –1 LearnerSample Decks: a evaluate professional conduct and formulate an appropriate response to actions that violate the Code of Ethics and Standards of Professional Conduct;, b formulate appropriate policy and procedural changes needed to assure compliance with the Code of Ethics and Standards of Professional Conduct.,Show Class 
L3 06 Asset Manager Code of Professional Conduct
L3 06 Asset Manager Code of Professional Conduct
Flashcard Maker: Steven Popovic
0 Cards –3 Decks –1 LearnerSample Decks: a explain the ethical and professional responsibilities required by the six components of the Asset Manager Code;, b determine whether an asset manager’s practices and procedures are consistent with the Asset Manager Code;, c recommend practices and procedures designed to prevent violations of the Asset Manager Code.Show Class 
L3 07 The Behavioral Finance Perspective
L3 07 The Behavioral Finance Perspective
Flashcard Maker: Steven Popovic
0 Cards –4 Decks –1 LearnerSample Decks: a contrast traditional and behavioral finance perspectives on investor decision making;, b contrast expected utility and prospect theories of investment decision making;, c discuss the effect that cognitive limitations and bounded rationality may have on investment decision making;Show Class 
L3 08 The Behavioral Biases of Individuals
L3 08 The Behavioral Biases of Individuals
Flashcard Maker: Steven Popovic
0 Cards –4 Decks –1 LearnerSample Decks: a distinguish between cognitive errors and emotional biases;, b discuss commonly recognized behavioral biases and their implications for financial decision making;\, c identify and evaluate an individual’s behavioral biases;Show Class 
L3 09 Behavioral Finance and Investment Processes
L3 09 Behavioral Finance and Investment Processes
Flashcard Maker: Steven Popovic
0 Cards –7 Decks –1 LearnerSample Decks: a explain the uses and limitations of classifying investors into various types;, b discuss how behavioral factors affect adviser–client interactions;, c discuss how behavioral factors influence portfolio construction;Show Class 
L3 10 Managing Individual Investor Portfolios
L3 10 Managing Individual Investor Portfolios
Flashcard Maker: Steven Popovic
0 Cards –14 Decks –1 LearnerSample Decks: a discuss how source of wealth, measure of wealth, and stage of life affect an individual investors’ risk tolerance;, b explain the role of situational and psychological profiling in understanding an individual investor;, c compare the traditional finance and behavioral finance models of investor decision making;Show Class 
L3 11 Taxes and Private Wealth Management in a Global Context
L3 11 Taxes and Private Wealth Management in a Global Context
Flashcard Maker: Steven Popovic
0 Cards –9 Decks –1 LearnerSample Decks: a compare basic global taxation regimes as they relate to the taxation of dividend income, interest income, realized capital gains, and unrealized capital gains;, b determine the effects of different types of taxes and tax regimes on future wealth accumulation;, c calculate accrual equivalent tax rates and after tax returns;Show Class 
L3 12 Estate Planning in a Global Context
L3 12 Estate Planning in a Global Context
Flashcard Maker: Steven Popovic
0 Cards –12 Decks –1 LearnerSample Decks: a discuss the purpose of estate planning and explain the basic concepts of domestic estate planning, including estates, wills, and probate;, b explain the two principal forms of wealth transfer taxes and discuss the effects of important non tax issues, such as legal system, forced heirship, and marital property regime;, c determine a family’s core capital and excess capital, based on mortality probabilities and Monte Carlo analysis;Show Class 
L3 13 Concentrated Single Asset Positions
L3 13 Concentrated Single Asset Positions
Flashcard Maker: Steven Popovic
0 Cards –12 Decks –1 LearnerSample Decks: a explain investment risks associated with a concentrated position in a single asset and discuss the appropriateness of reducing such risks;, b describe typical objectives in managing concentrated positions;, c discuss tax consequences and illiquidity as considerations affecting the management of concentrated positions in publicly traded common shares, privately held businesses, and real estate;Show Class 
L3 14 Lifetime Financial Advice: Human Capital
L3 14 Lifetime Financial Advice: Human Capital
Flashcard Maker: Steven Popovic
0 Cards –7 Decks –1 LearnerSample Decks: a explain the concept and discuss the characteristics of “human capital” as a component of an investor’s total wealth;, b discuss the earnings risk, mortality risk, and longevity risk associated with human capital and explain how these risks can be reduced by appropriate portfolio diversification, life insurance, and annuity products;, c explain how asset allocation policy is influenced by the risk characteristics of human capital and the relative relationships of human capital, financial capital, and total wealth;Show Class 
L3 15 Managing Institutional Investor Portfolios
L3 15 Managing Institutional Investor Portfolios
Flashcard Maker: Steven Popovic
0 Cards –14 Decks –1 LearnerSample Decks: a contrast a defined benefit plan to a defined contribution plan and discuss the advantages and disadvantages of each from the perspectives of the employee and the employer;, b discuss investment objectives and constraints for defined benefit plans;, c evaluate pension fund risk tolerance when risk is considered from the perspective of the 1) plan surplus, 2) sponsor financial status and profitability, 3) sponsor and pension fund common risk exposures, 4) plan features, and 5) workforce characteristics;Show Class 
L3 16 Linking Pension Liabilities to Assets
L3 16 Linking Pension Liabilities to Assets
Flashcard Maker: Steven Popovic
0 Cards –3 Decks –1 LearnerSample Decks: a contrast the assumptions concerning pension liability risk in asset only and liability relative approaches to asset allocation;, b discuss the fundamental and economic exposures of pension liabilities and identify asset types that mimic these liability exposures;, c compare pension portfolios built from a traditional asset only perspective to portfolios designed relative to liabilities and discuss why corporations may choose not to implement fully the liability mimicking portfolio.Show Class 
L3 17 Capital Market Expectations
L3 17 Capital Market Expectations
Flashcard Maker: Steven Popovic
0 Cards –18 Decks –1 LearnerSample Decks: a discuss the role of, and a framework for, capital market expectations in the portfolio management process;, b discuss challenges in developing capital market forecasts;, c demonstrate the application of formal tools for setting capital market expectations, including statistical tools, discounted cash flow models, the risk premium approach, and financial equilibrium models;Show Class 
L3 18 Equity Market Valuation
L3 18 Equity Market Valuation
Flashcard Maker: Steven Popovic
0 Cards –7 Decks –1 LearnerSample Decks: b evaluate the relative importance of growth in total factor productivity, in capital stock, and in labor input given relevant historical data;, a explain the terms of the Cobb Douglas production function and demonstrate how the function can be used to model growth in real output under the assumption of constant returns to scale;, c demonstrate the use of the Cobb Douglas production function in obtaining a discounted dividend model estimate of the intrinsic value of an equity market;Show Class 
L3 19 Asset Allocation
L3 19 Asset Allocation
Flashcard Maker: Steven Popovic
0 Cards –20 Decks –1 LearnerSample Decks: a explain the function of strategic asset allocation in portfolio management and discuss its role in relation to specifying and controlling the investor’s exposures to systematic risk;, b compare strategic and tactical asset allocation;, c discuss the importance of asset allocation for portfolio performance;Show Class 
L3 20 Fixed Income Portfolio Management—Part I
L3 20 Fixed Income Portfolio Management—Part I
Flashcard Maker: Steven Popovic
0 Cards –13 Decks –1 LearnerSample Decks: a compare, with respect to investment objectives, the use of liabilities as a benchmark and the use of a bond index as a benchmark;\, b compare pure bond indexing, enhanced indexing, and active investing with respect to the objectives, advantages, disadvantages, and management of each;, c discuss the criteria for selecting a benchmark bond index and justify the selection of a specific index when given a description of an investor’s risk aversion, income needs, and liabilities;Show Class 
L3 21 Relative Value Methodologies for Global Credit Bond Portfolio Management
L3 21 Relative Value Methodologies for Global Credit Bond Portfolio Management
Flashcard Maker: Steven Popovic
0 Cards –5 Decks –1 LearnerSample Decks: a explain classic relative value analysis, based on top down and bottom up approaches to credit bond portfolio management;, b discuss the implications of cyclical supply and demand changes in the primary corporate bond market and the impact of secular changes in the market’s dominant product structures;, c explain the influence of investors’ short and long term liquidity needs on portfolio management decisions;Show Class 
L3 22 Fixed Income Portfolio Management—Part II
L3 22 Fixed Income Portfolio Management—Part II
Flashcard Maker: Steven Popovic
0 Cards –13 Decks –1 LearnerSample Decks: b discuss the use of repurchase agreements (repos) to finance bond purchases and the factors that affect the repo rate;, a evaluate the effect of leverage on portfolio duration and investment returns;, c critique the use of standard deviation, target semivariance, shortfall risk, and value at risk as measures of fixed income portfolio risk;Show Class 
L3 23 Equity Portfolio Management
L3 23 Equity Portfolio Management
Flashcard Maker: Steven Popovic
0 Cards –22 Decks –1 LearnerSample Decks: a discuss the role of equities in the overall portfolio;, b discuss the rationales for passive, active, and semiactive (enhanced index) equity investment approaches and distinguish among those approaches with respect to expected active return and tracking risk;, c recommend an equity investment approach when given an investor’s investment policy statement and beliefs concerning market efficiency;Show Class 
L3 24 International Equity Benchmarks
L3 24 International Equity Benchmarks
Flashcard Maker: Steven Popovic
0 Cards –3 Decks –1 LearnerSample Decks: a discuss the need for float adjustment in the construction of international equity benchmarks;, b discuss trade offs involved in constructing international indices, including 1) breadth versus investability, 2) precise float adjustment versus transaction costs from rebalancing, and 3) objectivity and transparency versus judgment;, c discuss the effect that a country’s classification as either a developed or an emerging market can have on market indices and on investment in the country’s capital markets.Show Class 
L3 25 Corporate Performance, Governance and Business Ethics
L3 25 Corporate Performance, Governance and Business Ethics
Flashcard Maker: Steven Popovic
0 Cards –4 Decks –1 LearnerSample Decks: a compare interests of key stakeholder groups and explain the purpose of a stakeholder impact analysis;, b discuss problems that can arise in principal agent relationships and mechanisms that may mitigate such problems;, c discuss roots of unethical behavior and how managers might ensure that ethical issues are considered in business decision making;Show Class 
L3 26 Alternative Investments Portfolio Management
L3 26 Alternative Investments Portfolio Management
Flashcard Maker: Steven Popovic
0 Cards –22 Decks –1 LearnerSample Decks: a describe common features of alternative investments and their markets and how alternative investments may be grouped by the role they typically play in a portfolio;, b explain and justify the major due diligence checkpoints involved in selecting active managers of alternative investments;, c explain distinctive issues that alternative investments raise for investment advisers of private wealth clients;Show Class 
L3 27 Risk Management
L3 27 Risk Management
Flashcard Maker: Steven Popovic
0 Cards –13 Decks –1 LearnerSample Decks: a discuss features of the risk management process, risk governance, risk reduction, and an enterprise risk management system;, b evaluate strengths and weaknesses of a company’s risk management process;, c describe steps in an effective enterprise risk management system;Show Class 
L3 28 Currency Management: An Introduction
L3 28 Currency Management: An Introduction
Flashcard Maker: Steven Popovic
0 Cards –9 Decks –1 LearnerSample Decks: a analyze the effects of currency movements on portfolio risk and return;, b discuss strategic choices in currency management;, c formulate an appropriate currency management program given market facts and client objectives and constraints;Show Class 
L3 29 Risk Management Applications of Forward and Futures Strategies
L3 29 Risk Management Applications of Forward and Futures Strategies
Flashcard Maker: Steven Popovic
0 Cards –7 Decks –1 LearnerSample Decks: a demonstrate the use of equity futures contracts to achieve a target beta for a stock portfolio and calculate and interpret the number of futures contracts required;, b construct a synthetic stock index fund using cash and stock index futures (equitizing cash);, c explain the use of stock index futures to convert a long stock position into synthetic cash;Show Class 
L3 30 Risk Management Applications of Option Strategies
L3 30 Risk Management Applications of Option Strategies
Flashcard Maker: Steven Popovic
0 Cards –6 Decks –1 LearnerSample Decks: a compare the use of covered calls and protective puts to manage risk exposure to individual securities;, b calculate and interpret the value at expiration, profit, maximum profit, maximum loss, breakeven underlying price at expiration, and general shape of the graph for the following option strategies: bull spread, bear spread, butterfly spread, collar, straddle, box spread;, c calculate the effective annual rate for a given interest rate outcome when a borrower (lender) manages the risk of an anticipated loan using an interest rate call (put) option;Show Class 
L3 31 Risk Management Applications of Swap Strategies
L3 31 Risk Management Applications of Swap Strategies
Flashcard Maker: Steven Popovic
0 Cards –8 Decks –1 LearnerSample Decks: a demonstrate how an interest rate swap can be used to convert a floating rate (fixed rate) loan to a fixed rate (floating rate) loan;, b calculate and interpret the duration of an interest rate swap;, c explain the effect of an interest rate swap on an entity’s cash flow risk;Show Class 
L3 32 Execution of Portfolio Decisions
L3 32 Execution of Portfolio Decisions
Flashcard Maker: Steven Popovic
0 Cards –0 Decks –1 LearnerSample Decks:Show Class 
L3 33 Monitoring and Rebalancing
L3 33 Monitoring and Rebalancing
Flashcard Maker: Steven Popovic
0 Cards –0 Decks –1 LearnerSample Decks:Show Class 
L3 34 Evaluating Portfolio Performance
L3 34 Evaluating Portfolio Performance
Flashcard Maker: Steven Popovic
0 Cards –0 Decks –1 LearnerSample Decks:Show Class 
L3 35 Overview of the Global Investment Performance Standards
L3 35 Overview of the Global Investment Performance Standards
Flashcard Maker: Steven Popovic
0 Cards –0 Decks –1 LearnerSample Decks:Show Class 
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Sierra investments
Sierra investments
Flashcard Maker: Steven Popovic
17 Cards –4 Decks –1 LearnerSample Decks: Stats Stuff, Excel Logic functions, Chandoos Top 10 Analyst FunctionsShow Class 
Future
Future
Flashcard Maker: Steven Popovic
2 Cards –2 Decks –1 LearnerSample Decks: Shell, Historical Prices,Show Class 
65
65
Flashcard Maker: Steven Popovic
11 Cards –3 Decks –1 LearnerSample Decks: State Reg Exemptions, Bull Market, Dollar VsShow Class