对于CFA一级考试，知识点多，学习上一定要有方向，不要太杂。要了解每门科目的要点。今天融跃小编就和大家来说说2020年CFA一级考试有哪些重点？

CFA一级考试重点

先来了解下CFA一级考试科目：

1.道德与职业行为标准（Ethics and Professional Standards）

2.定量分析（Quantitative）

3.经济学（Economics）

4.财务报表分析（Financial Statement Analysis）

5.公司理财（Corporate Finance）

6.投资组合管理 （Portfolio Management）

7.权益投资（Equity Investments）

8.固定收益投资（Fixed Income）

9.衍生工具（Derivatives）

10.其他类投资（Alternative Investments）

小跃根据CFA协会发布的公告，整理考纲变化内容如下：

上图是cfa科目占cfa一级考试比重

从上述表格可以了解到2020年CFA一级考试主要考察考生对投资工具和基础知识的掌握，重点在职业道德伦理和财务报表的版块。从考试各科目成绩占比来看

2020年CFA一级没有任何变化，但从考纲内容的调整来看，科目细节变化较多。

2020年CFA一级考试的重点

变化科目一、职业伦理与道德

（Ethical and Professional Standards）

Reading 1.Ethics And Trust In The Investment Profession

新增考纲：c.describe professions and how they establish trust；

取消内容：对framework for ethical decision making的应用（apply）要求。

变化科目二、数量方法

（Quantitative Methods）

Reading.Discounted Cash Flow Applications

全部删除

Reading 7.Statistical Concepts and Market Returns

取消内容：2019年考纲已取消对夏普比率（Sharpe ratio）的计算和解释要求。2020年同2019年，无变化。

Reading 11.Hypothesis Testing

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；

Reading 13.Technical Analysis

内容移动：整体移动到组合管理（Portfolio Management）部分。

变化科目三、财务报表及分析

（Financial Statement and Analysis）

Reading 20.Financial Reporting Standards

删除4条考纲：

① c.describe the status of global convergence of accounting standards and ongoing barriers to developing one universally accepted set of financial reporting standards；

② f.compare key concepts of financialreporting standards under IFRS and US generally accepted accounting principles

（US GAAP）reporting systems；

③ g.identify characteristics of a coherent financial reporting framework and the barriers to creating such a framework；

④ i.analyze company disclosures of significant accounting policies.

变化内容主要为：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

删除2条考纲：

① 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；

② 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

删除2条考纲：

① o.explain and evaluate how leasing rather than purchasing assets affects financial statements and ratios；

② 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

删除2条考纲：

① h.determine the initial recognition，initial measurement，and subsequent measurement of finance leases；

② i.compare the disclosures relating to finance and operating leases；

变化科目四、公司金融

（Corporate Finance）

Reading 32.Capital Budgeting

新增考纲：f contrast the NPV decision rule to the IRR decision rule and identify problems associated with the IRR rule；

变化科目五、固定收益

（Fixed Income）

Reading 44.Introduction to Fixed-Income Valuation

新增考纲：f calculate annual yield on a bond for varying compounding periods in a year；

变化科目六、衍生工具

（Derivatives）

Reading 48.Derivative Markets and Instruments

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

新增考纲：c.calculate a forward price of an asset with zero，positive，or negative net cost of carry；

删减考纲：i.explain how the value of a European option is determined at expiration；

变化科目七、投资组合管理

（Alternative Investments）

Reading 51.Portfolio Management:An Overview

新增考纲：b.describe the steps in the portfolio management process；

Reading 52.Portfolio Risk and Return:Partl

新增考纲：b.compare the money-weighted and time-weighted rates of return and evaluate the performance of portfolios based on these measures；

Reading 54.Basics of Portfolio Planning and Construction

新增考纲：h.describe how environmental，social，and governance（ESG）considerations may be integrated into portfolio planning and construction.

以上内容整理来自CFA协会、中国CFA考试网

根据往年CFA考试的经验，职业道德标准、财务报表分析、投资工具和资产评估都在历年考试中占据着较大的比重，大家要着重复习。2020年CFA一级考试变化大家都了解了吗？