0905CFA二级冲刺班总复习讲义―汤震宇

CONTENTS1.ETHICAL&PROFESSIONALSTANDARDS…………………………………….…………….………………1-402.QUANTITATIVEMETHODS………………………….…….……….………….………………………….…40-543.ECONOMICS………………………….…………………………………………………………….…………54-784.FIXEDINCOME………………………………………………………………………………………………78-1105.DERIVATIVESINVESTMENT……………………………………..………………………………………110-1426.PORTFOLIOMANAGEMENT…………………………...………………………...………………………142-16011金程教育CFA二级冲刺班讲义Ethical&ProfessionalStandards讲师：汤震宇Ph.D.CFAFRMCTP撰写：戴莉丽日期：2009年5月地点：■上海□北京□深圳上海金程国际金融专修学院上海金程国际金融专修学院2专业来自百分百的投入CopyRight2009ByGFEDU汤震宇¾职称：博士,金程教育首席培训师，综合开发研究院（中国·深圳）副教授，CFA（注册金融分析师），FRM（金融风险管理师），CTP（国际财资管理师）。¾授课：曾任中国CFP标准委员会投资规划副协调人。目前为止，共讲授CFA®LevelI250次，CFA®LevelII30次，复旦MBA《公司财务》二次，中国CFP《投资规划》三次，某保险公司《会计与财务分析》35次，《金程会计快速突破方法》300次，倍受赞誉。¾著作：主编中国首套CFA中文辅导教材，出版合作出版《固定收益证券定价理论》、《财务报表分析技术》和《公司财务》等书。¾客户：上海证券交易所、摩根士丹利、中国银行、上海银行、工商银行、招商银行、太平洋保险等机构讲授金融和财务课程，深受好评。¾联系：电话：[phone]转Email:[e-mail]3专业来自百分百的投入CopyRight2009ByGFEDUTOTAL:PortfolioManagementDerivativeInvestmentsFixedIncomeAnalysisEquityAnalysisCorporateFinanceFinancialStatementAnalysisEconomicAnalysisQuantitativeMethodsEthics&ProfessionalStandards5-15StudySession181005-15StudySession16-175-15StudySession14-1520-30StudySession10-135-15StudySession8-915-25StudySession5-75-10StudySession45-10StudySession310StudySession1-2CFA二级课程框架4专业来自百分百的投入CopyRight2009ByGFEDUFrameworkofEthics¾Reading1:CodeofEthicsandStandardsofProfessionalConduct¾Reading2:“Guidance”forstandardsⅠ-Ⅻ¾Reading3:CFAInstituteSoftDollarStandards¾Reading4:CFAInstituteResearchObjectivityStandards¾Reading5:TheGlenarmCompany¾Reading6:PrestonPartners¾Reading7:SuperSelection¾Reading8:TradeAllocation:FairDealingandDisclosure¾Reading9:ChangingInvestmentObjectives¾Reading10:PrudenceinPerspective第1页5专业来自百分百的投入CopyRight2009ByGFEDUMembersofCFAInstitute(“MembersandCandidates”)must:•Actwithintegrity,competence,diligence,respect,andinanethicalmannerwiththepublic,clients,prospectiveclients,employers,employees,colleaguesintheinvestmentprofession,andotherparticipantsintheglobalcapitalmarkets.•Placetheintegrityoftheinvestmentprofessionandtheinterestsofclientsabovetheirownpersonalinterests.•Usereasonablecareandexerciseindependentprofessionaljudgmentwhenconductinginvestmentanalysis,makinginvestmentrecommendations,takinginvestmentactions,andengaginginotherprofessionalactivities.•Practiceandencourageotherstopracticeinaprofessionalandethicalmannerthatwillreflectcreditonthemselvesandtheprofession.•Promotetheintegrityof,andupholdtherulesgoverning,capitalmarkets.•Maintainandimprovetheirprofessionalcompetenceandstrivetomaintainandimprovethecompetenceofotherinvestmentprofessionals.SixcomponentsoftheCodeofEthicsLOS1a.statethesixcomponentsoftheCodeofEthicsandthesLOS1a.statethesixcomponentsoftheCodeofEthicsandthesevenevenStandardsofProfessionalConduct;StandardsofProfessionalConduct;6专业来自百分百的投入CopyRight2009ByGFEDUSevenStandardsofProfessionalConductCodeandEthicsProfessionalismKnowledgeofthelaw;Independenceandobjectivity;★Misrepresentation;MisconductIntegrityofcapitalmarketsMaterialNonpublicinformation;MarketmanipulationDutyToClientsLoyalty,prudenceandcare;★Fairdealing;Suitability;Performancepresentation;PreservationofConfidentialityDutyToemployersLoyalty;★Additionalcompensationarrangements;ResponsibilityofsupervisorsInvestmentDiligenceandreasonablebasis;Communicationwithclients;RecordretentionConflictsofinterestDisclosureofconflicts;★Priorityoftransactions;ReferralfeesResponsibilityasmembersConductasmembersandcandidates;Referencetoinstitute,designation,programPersonalconductForclients&employersdutiesInvestmentprocess7专业来自百分百的投入CopyRight2009ByGFEDULOS1b.explaintheethicalresponsibilitiesrequiredbytheCodLOS1b.explaintheethicalresponsibilitiesrequiredbytheCodeandStandards;eandStandards;LOS2a.demonstrateathoroughknowledgeoftheCodeofEthicsaLOS2a.demonstrateathoroughknowledgeoftheCodeofEthicsandStandardsofndStandardsofProfessionalConductbyapplyingtheCodeandStandardstospeciProfessionalConductbyapplyingtheCodeandStandardstospecificsituations;ficsituations;LOS2b.recommendpracticesandproceduresdesignedtopreventvLOS2b.recommendpracticesandproceduresdesignedtopreventviolationsoftheiolationsoftheCodeofEthicsandStandardsofProfessionalConduct.CodeofEthicsandStandardsofProfessionalConduct.GuidanceforstandardⅠ-Ⅻ8专业来自百分百的投入CopyRight2009ByGFEDUStandardI：Professionalism¾ContentMembersandCandidatesmustunderstandandcomplywithallapplicablelaws,rules,andregulations(includingtheCFAInstituteCodeofEthicsandStandardsofProfessionalConduct)ofanygovernment,regulatoryorganization,licensingagency,orprofessionalassociationgoverningtheirprofessionalactivities.Intheeventofconflict,MembersandCandidatesmustcomplywiththemorestrictlaw,rule,orregulation.MembersandCandidatesmustnotknowinglyparticipateorassistinandmustdissociatefromanyviolationofsuchlaws,rules,orregulations.A.Knowledgeoflaw第2页9专业来自百分百的投入CopyRight2009ByGFEDUStandardI：Professionalism¾Mustknowandshouldknowthelawsandregulationsrelationstotheirprofessionalactivitiesinallcountriesinwhichtheyconductbusiness.¾Notexpertonalllawsthat