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Study Guides 2006 by CFA Level 1,2,3

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In 2006, Schweser Study Notes offer you more value than ever! Our enhanced Study Notes keep you focused on the critical concepts in the required CFA Institute assigned readings. In the 2006 Study Notes you will also find more realistic problems at a higher degree of difficulty to help you prepare for the CFA Exam. Our 2006 Study Notes include Schweser’s QuickSheet. Level 1; Books 1 through 6: Ethics and Quantitative Methods; Economics; Financial Statement Analysis; Corporate Finance, Portfolio Management, Markets, Equity, and Alternative Investments; Debt Investments and Derivative Investments and Sample Exam Workbook.

The CFA Program includes a series of three exams; Levels I, II, and III. The exams:

Are offered annually — at test centers around the world — on the first Saturday in June. The Level I exam is also offered in December.

Must be passed sequentially.

Are available in English only.

The exam content, learning focus, and question format increase in complexity with each level.

Curriculum Content and Learning Focus

An example showing the increase in complexity is the ethical and professional standards curriculum content. This content is similar for each exam level; however, candidates are asked different types of questions:

Level I tests your knowledge of the ethical and professional standards.

Level II tests how you apply those standards to situations analysts face.

Level III tests how you apply the standards in a portfolio management and compliance context.

In general:

Level I exams consists of basic knowledge and comprehension questions focused on investment tools; some questions will require analysis.

Level II exams emphasize more complex analysis, along with a focus on valuing assets.

Level III exams require synthesis of all the concepts and analytical methods in a variety of applications for effective portfolio management and wealth planning.

What is forex?

Quite simply, it’s the global market that allows one to trade two currencies against each other.

If you think one currency will be stronger versus the other, and you end up correct, then you can make a profit.

If you’ve ever traveled to another country, you usually had to find a currency exchange booth at the airport, and then exchange the money you have in your wallet into the currency of the country you are visiting.

Foreign Exchange
You go up to the counter and notice a screen displaying different exchange rates for different currencies.

An exchange rate is the relative price of two currencies from two different countries.

You find “Japanese yen” and think to yourself, “WOW! My one dollar is worth 100 yen?! And I have ten dollars! I’m going to be rich!!!”
When you do this, you’ve essentially participated in the forex market!

You’ve exchanged one currency for another.

Or in forex trading terms, assuming you’re an American visiting Japan, you’ve sold dollars and bought yen.

Currency Exchange

Before you fly back home, you stop by the currency exchange booth to exchange the yen that you miraculously have left over (Tokyo is expensive!) and notice the exchange rates have changed.

It’s these changes in the exchange rates that allow you to make money in the foreign exchange market.

Salepage : Study Guides 2006 by CFA Level 1,2,3