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Level I: 2015 - 2016 Program Changes

The 2016 curriculum readings have been increased from 60 to 61.

Notes and Key

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Topic
Ethics

2015 #
1
2
3
4

Reading Name
Code of Ethics and Standards of Professional Conduct
Guidance for Standards IVII
Introduction to the Global Investment Performance Standards (GIPS)
Global Investment Performance Standards (GIPS)

Yellow

2016 #
1
2
3
4

Reading Name
Code of Ethics and Standards of Professional Conduct
Guidance for Standards IVII
Introduction to the Global Investment Performance Standards (GIPS)
Global Investment Performance Standards (GIPS)

Quantitative
Methods

5
6
7
8
9
10
11
12

The Time Value of Money


Discounted Cash Flow Applications
Statistical Concepts and Market Returns
Probability Concepts
Common Probability Distributions
Sampling and Estimation
Hypothesis Testing
Technical Analysis

6
7
8
9
10
11
12

The Time Value of Money


Discounted Cash Flow Applications
Statistical Concepts and Market Returns
Probability Concepts
Common Probability Distributions
Sampling and Estimation
Hypothesis Testing
Technical Analysis

Economics

13
14
15
16
17
18
19
20
21

Demand and Supply Analysis: Introduction


Demand and Supply Analysis: Consumer Demand
Demand and Supply Analysis: The Firm
The Firm and Market Structures
Aggregate Output, Prices, and Economic Growth
Understanding Business Cycles
Monetary and Fiscal Policy
International Trade and Capital Flows
Currency Exchange Rates

13
14
15
16
17
18
19
20
21

Demand and Supply Analysis: Introduction


Demand and Supply Analysis: Consumer Demand
Demand and Supply Analysis: The Firm
The Firm and Market Structures
Aggregate Output, Prices, and Economic Growth
Understanding Business Cycles
Monetary and Fiscal Policy
International Trade and Capital Flows
Currency Exchange Rates

FRA

22
23
24
25
26
27
28
29
30
31
32
33
34

Financial Statement Analysis: An Introduction


Financial Reporting Mechanics
Financial Reporting Standards
Understanding Income Statements
Understanding Balance Sheets
Understanding Cash Flow Statements
Financial Analysis Techniques
Inventories
Long-Lived Assets
Income Taxes
Non-current (Long-Term) Liabilities
Financial Reporting Quality
Financial Statement Analysis: Applications

22
23
24
25
26
27
28
29
30
31
32
33
34

Financial Statement Analysis: An Introduction


Financial Reporting Mechanics
Financial Reporting Standards
Understanding Income Statements
Understanding Balance Sheets
Understanding Cash Flow Statements
Financial Analysis Techniques
Inventories
Long-Lived Assets
Income Taxes
Non-current (Long-Term) Liabilities
Financial Reporting Quality
Financial Statement Analysis: Applications

35
36
37
38
39
40

Capital Budgeting
Cost of Capital
Measures of Leverage
Dividends and Share Repurchases: Basics
Working Capital Management
The Corporate Governance of Listed Companies: A Manual for Investors

35
36
37
38
39
40

Capital Budgeting
Cost of Capital
Measures of Leverage
Dividends and Share Repurchases: Basics
Working Capital Management
The Corporate Governance of Listed Companies: A Manual for Investors

Corporate
Finance

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Comments

Minor LOS change


Major LOS changes

Major LOS changes


Major LOS changes
Minor LOS change

Level I: 2015 - 2016 Program Changes


Topic

Portfolio
Management

Equity

Fixed Income

Derivatives

Alternative
Investments

2015 #

Reading Name

2016 # Reading Name

41
42
43
44

Portfolio Management: An Overview


Portfolio Risk and Return: Part I
Portfolio Risk and Return: Part II
Basics of Portfolio Planning and Construction

41
42
43
44
45

Portfolio Management: An Overview


Risk Management: An Introduction
Portfolio Risk and Return: Part I
Portfolio Risk and Return: Part II
Basics of Portfolio Planning and Construction

45
46
47
48
49
50

Market Organization and Structure


Security Market Indices
Market Efficiency
Overview of Equity Securities
Introduction to Industry and Company Analysis
Equity Valuation: Concepts and Basic Tools

46
47
48
49
50
51

Market Organization and Structure


Security Market Indices
Market Efficiency
Overview of Equity Securities
Introduction to Industry and Company Analysis
Equity Valuation: Concepts and Basic Tools

51
52
53
54
55
56

Fixed-Income Securities: Defining Elements


Fixed-Income Markets: Issuance, Trading, and Funding
Introduction to Fixed-Income Valuation
An Introduction to Asset-Backed Securities
Understanding Fixed-Income Risk and Return
Fundamentals of Credit Analysis

52
53
54
55
56
57

Fixed-Income Securities: Defining Elements


Fixed-Income Markets: Issuance, Trading, and Funding
Introduction to Fixed-Income Valuation
An Introduction to Asset-Backed Securities
Understanding Fixed-Income Risk and Return
Fundamentals of Credit Analysis

57 Derivative Markets and Instruments


58 Basics of Derivative Pricing and Valuation
59 Risk Management Applications of Option Strategies

58 Derivative Markets and Instruments


59 Basics of Derivative Pricing and Valuation
60 Risk Management Applications of Option Strategies

60 Introduction to Alternative Investments

61 Introduction to Alternative Investments

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Comments

Minor LOS change


Minor LOS change
Minor LOS change

Major LOS changes


Major LOS changes
Minor LOS change
Major LOS changes

Minor LOS changes