Introduction to CFA^® Level III Exam

An exploration of setting capital market expectations and the major tools of economic analysis. We first review the framework for developing expectations, then focus on macroeconomic analysis. We conclude with expectation setting for specific asset classes.

An illustration of how to use derivatives in investment decisions. We start by examining option strategies, then review swaps, forwards, and futures strategies. The topic concludes with an exploration of managing currency exposures.

An overview of fixed-income portfolio management. We examine liability-driven and index-based strategies in greater detail, then cover yield curve and credit strategies for fixed-income portfolios.

An overview of equity portfolio management leads into a discussion of two approaches for managing equity portfolio. Both passive and active equity strategies are included.

An exploration of hedge fund strategies, followed by a discussion of asset allocation to alternative investments. Learn why alternative investments present risk and return characteristics unique from traditional investments.

An introduction to behavioral biases of individuals as well as behavioral finance, followed by private wealth management and a deeper exploration of the topic. We explore risk management for individuals and portfolio management for institutional investors.

An overview of asset allocation and its principles. We discuss how real-world constraints impact asset allocation decisions. We conclude by covering various trade strategies and executions, performance evaluation, and investment manager selection.

An exploration of ethics in the investment profession. Through case studies, we illustrate practical application of the Code of Ethics and Standards of Professional Conduct. We conclude with two real-world violations with resulting regulatory actions.