CFA Society New Mexico on LinkedIn: Enroll and Register for the CFA Exam (2024)

The Level I exam consists of 180 multiple-choice questions, split between two 135-minute sessions (session times are approximate). There is an optional break between sessions.First Session (2 Hours, 15 minutes): 90multiple-choice questionsSecond Session (2 Hours, 15 minutes): 90 multiple-choice questions👉Topics-🌟Session 1-Ethical and Professional Standards 15-20%Quantitative Methods 6-9%Economics 6-9%Financial Statement Analysis 11-14%Corporate Issuers 6-9%🌟Session 2-Portfolio Management 8-12%Equity Investments 11-14%Fixed Income 11-14%Derivatives 5-8%Alternative Investments 7-10%👉Exam Fees-Early registration fee $940Standard Registration fee $1250CFA Institute has announced a new fee structure for the CFA program, effective for the 2025 exams and beyond.✔Question Format-Each multiple-choice item on the CFA Level I exam consists of a stem (a question, a statement, and/or table) as well as three answer choices (A, B, or C).Follow Kuldeep Singh for more.#CFA #Finance #Growth #Strategy

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This brings back memories from my 1st year at WSU, department of accounting, a module called statistics for accountants. Having been its tutor for 2 years, when you talk about normal distributions, z-scores it brings back all the good memories i have.I think this demonstrates the importance of studying to understand than just passing. I see some economics from 1st year as well here. The department knew the importance of those supporting modules but unfortunately not all students understand at the time of teaching. I think we need to introduce some measures that will ensure students take these supporting modules seriously as they do with their core modules like accounting.

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CFA L3 Study TipsFixed Income Today was an interesting one; during the day I taught a CFA L1 class, fixed income and then this evening I also taught fixed income but to a CFA L3 class. It really struck home how important it is retain your foundation knowledge from L1. Tonight’s class was mostly on duration, convexity and cash flow dispersion. As mentioned in a previous post, the old published questions were often vague when it came to the term “duration”. You would see model answers just stating “duration of the assets needs to equal that of the liabilities“ etc but the current curriculum is more precise so it is important that you clearly state which version of duration you are referring to - hence the link the L1 foundation. For immunising a single liability we would match the Mac D to the time horizon of the liability. Note my wording here, it is just too vague to just say match the duration! When it comes to multiple liabilities for ease of analysis we use Mod D rather than Mac D since modified is easier to apply at the portfolio level. The conditions that need to hold for multiple liabilities are :1. Have the PV of the assets equal (or exceed) the PV of the liabilities.2. Match the modified duration of the assets to that of the liabilities.3. If the two conditions above hold then we can say the BPV of the assets must equal BPV of the liabilities.4. The dispersion of portfolio cash flows needs to be higher than that of the liabilities, which by definition means higher convexity for the portfolio than for the liabilities. Please take care with this last condition because for a single liability we want the opposite ie we want the lowest dispersion possible.Common mistakes I see is the over focus on the use of BPV. It is important to realise that on its own , matching the BPVs is not a sufficient condition. If BPV is matched then it just means the portfolio will approximately change by the same degree as the liabilities but this does not mean you can fund the liabilities! Therefore it is important you start by matching the PV of the assets to the PV of the liabilities and then if you also match the BPVs the portfolio should still be able to fund the liabilities even if yields change.Hope this helps

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CFA L3 Study TipsFixed Income - for many years this topic has been somewhat of a problem child for CFAI. The old readings were poorly written and lacked technical accuracy. A few years back they were completely re-written but someone at CFAI clearly forgot to get them tech-checked because they contained a vast number of errors. Finally by 2023, it would seem we now have some excellent content with minimal errors. Why am I saying this? Two points: firstly if you are looking for fixed income questions in the old published essay papers (last exam to be published was 2018) then my advice is to avoid these. The curriculum has changed so much (for the better) that these old questions and the accompanying answers, will give a false impression. Secondly, if any of you are using copies of the curriculum or prep provider notes from two years ago, this was peak error year for fixed income so there’s a good chance you are reading some very confusing or completely wrong stuff!

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💼 Forbes revealed the Top 3 High-Paying Industries of 2024!- Information Technology: A field of financial rewards and innovation.- Finance: Brimming with challenges and opportunities for success.- Healthcare: A essential industry in a world constantly striving for better health and well-being. These industries demand skills and professional training for success and to showcase your expertise. For Finance, the CFA Program can be your key to success. Ready to join the industry or enhance your knowledge?CFA Program May 2024 exam registration closes tomorrow, but more opportunities await, like the August 2024 exam.Learn more: https://bit.ly/3u7vDQn Read the complete Forbes article: Top 3 High-Paying Industries In 2024 (And How To Get In) [https://bit.ly/3SE6zJ9] #Finance #CFAProgram

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Consider taking the plunge and investing in your skills and sit for the CFA program. An amazing journey that will set you up for success in investment management. #cfainstitute

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Title: Understanding Internal Rate of Return (IRR): A Key Concept for CFA Level 1 CandidatesIntroduction:As finance professionals and CFA Level 1 candidates, we constantly grapple with various financial metrics that play a pivotal role in decision-making processes. One such metric that holds significant importance is the Internal Rate of Return (IRR). In this article, we will delve into the basics of IRR and its relevance for CFA Level 1 candidates.Internal Rate of Return (IRR) Defined:IRR is a powerful metric used to evaluate the attractiveness of an investment opportunity. Simply put, it represents the discount rate at which the net present value (NPV) of cash flows from an investment becomes zero. In other words, IRR is the rate of return that makes the present value of cash inflows equal to the present value of cash outflows.Key Components of IRR:Cash Flows:Understanding IRR begins with comprehending the cash flows associated with an investment. These cash flows include both initial investment outlays and future cash inflows.Discount Rate:The IRR is essentially the discount rate that equates the present value of cash inflows with the present value of cash outflows. It represents the rate at which an investment breaks even.Relevance to CFA Level 1:Capital Budgeting Decisions:IRR is a crucial tool in capital budgeting, helping analysts assess the viability of potential projects. CFA Level 1 candidates should grasp the concept of IRR to make informed decisions on resource allocation and project selection.Comparison with Required Rate of Return:CFA Level 1 curriculum emphasizes the importance of comparing IRR with the required rate of return. If the IRR exceeds the required rate of return, the project is deemed financially viable.#cfalevel1 #cfa #irr

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