2020CFA考试变化
2020年上半年的CFA考试时间表已出，安排如下：
CFA一级考纲变化
CFA一级考纲连续多年都在大改，相较过往而言，2020年的CFA一级考纲整体变化幅度较小，主要是各项细节调整，具体调整如下：
01 伦理道德与专业准则
Reading 1. Ethics And Trust In The Investment Profession中，新增考纲：c. describe professions and how they establish trust;取消对framework for ethical decision making的应用（apply）要求。
02 数量方法
删除整个Reading. Discounted Cash Flow ApplicationsReading 7. Statistical Concepts and Market Returns中，19相比18年考纲取消对夏普比率（Sharpe ratio）的计算和解释要求。Reading 11. Hypothesis Testing中，新增考纲：k.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;原Reading 13. Technical Analysis 整体移动到组合管理（Portfolio Management）部分。
03 公司财报分析
Reading 20. Financial Reporting Standards中，删除原考纲要求：c. describe the status of global convergence of accounting standards and>f. compare key concepts of financial reporting standards under IFRS and US generally accepted accounting principles (US GAAP) reporting systems;g. identify characteristics of a coherent financial reporting framework and the barriers to creating such a framework;i. analyze company disclosures of significant accounting policies.
取消财报准则设置机构的描述、对国际证监会组织的角色描述、财报的目标描述、财报的前提准备等要求。
Reading 21. Understanding Income Statements中，删除原考纲要求：
b. accrual accounting, specific revenue recognition applications (including accounting for long-term contracts, installment sales, barter transactions, gross and net reporting of revenue), and implications of revenue recognition principles for financial analysis;d. describe key aspects of the converged accounting standards for revenue recognition issued by the International Accounting Standards Board and Financial Accounting Standards Board in May 2014;
Reading 26. Long-lived Assets中，删除原考纲要求：o. explain and evaluate how leasing rather than purchasing assets affects financial statements and ratios;p. explain and evaluate how finance leases and operating leases affect financial statements and ratios from the perspective of both the lessor and the lessee.
Reading 30. Non-current (Long-term) Liabilities中，删除原考纲要求：h. determine the initial recognition, initial measurement, and subsequent measurement of finance leases;i. compare the disclosures relating to finance and operating leases。
04 公司金融
Reading 32. Capital Budgeting中，新增考纲：f.contrast the NPV decision rule to the IRR decision rule and identify problems associated with the IRR rule。
05 固定收益投资
Reading 44. Introduction to Fixed-Income Valuation中，新增考纲：f.calculate annual yield>
06 衍生工具
Reading 48. Derivative Markets and Instruments中，新增考纲：d.determine the value at expiration and profit from a long or a short position in a call or put option;Reading 49. Basics of Derivative Pricing and Valuation中，新增考纲：c. calculate a forward price of an asset with zero, positive, or negative net cost of carry;删除原考纲：i . explain how the value of a European option is determined at expiration。
07 投资组合
该部分整体移动到其他类投资之后：Reading 51. Portfolio Management: An Overview中，新增考纲：b.describe the steps in the portfolio management process;Reading 52. Portfolio Risk and Return: Part I中，新增考纲：b. compare the money-weighted and time-weighted rates of return and evaluate the performance of portfolios based>Reading 54. Basics of Portfolio Planning and Construction中，新增考纲：h.describe how environmental, social, and governance (ESG) considerations may be integrated into portfolio planning and construction.
因为基本新增的部分都是CFA肯定会安排的部分，所以值得我们特别注意。
前不久，上海和北京相继开了2019年度CFA资格认证授证仪式。截止2019年8月22日，中国大陆（不含港澳台）的CFA持证人数量为6078名。主要集中在北上广，累计达4759位，占比近九成。其中上海市的CFA大牛最多，简直是收割机。
虽然数字好看，但是还提醒蠢蠢欲动的各位，考证有风险，毕竟Notes、Mock题目、错题、教材加起来多到吓人，而缺乏有章法有体系的指导和有重点的冲刺技巧，你面对的就是复习越多心里越没底。
2019年12月考试已经飙到了26万人，但今年的缺考率缺考的人也是5万以上，沉没成本除了1万考试费用还有大量的时间，所以一定要提前想清楚再考，准备充足。
《金融时报》杂志也将CFA专业资格比喻成投资专才的“黄金标准”，《人民日报》也多次将CFA资格推荐为含金量很高证书之一。而通过CFA考试的金融人才已经成为各大金融机构重点争夺对象，对未来职业规划帮助重大。
中国CFA官网 CFA考试 CFA报名 CFA 是什么
