CFA备考从CFA考试大纲开始！只有把握CFA考试的侧重点，才能合理的分配CFA考试备考时间，下面是CFA小编，为各位2017年6月CFA二级的考生整理的，2017年CFA考试大纲变化。

2017年CFA考试大纲具体变化如下

一、Ethical and Professional Standards

无变化

二、Quantitative Methods

无变化

三、Economics

无变化

四、Financial Reporting and Analysis

1.原2016年Reading 16删除

Inventories:Implications for Financial Statements and Ratios

2.原2016年Reading 17删除

Long-lived Assets:Implications for Financial Statements and Ratios

五、Corporate Finance

无变化

六、Portfolio Management

2017年新增内容

1.Measuring and Managing Market Risk

a)explain the use of value at risk(VaR)in measuring portfolio risk;

b)compare the parametric(variance–covariance),historical simulation,and Monte Carlo simulation methods for estimating VaR;

c)estimate and interpret VaR under the parametric,historical simulation,and Monte Carlo simulation methods;

d)describe advantages and limitations of VaR;

e)describe extensions of VaR;

f)describe sensitivity risk measures and scenario risk measures and compare these measures to VaR;

g)demonstrate how equity,fixed-income,and options exposure measures may be used in measuring and managing market risk and volatility risk;

h)describe the use of sensitivity risk measures and scenario risk measures;

i)describe advantages and limitations of sensitivity risk measures and scenario risk measures;

j)describe risk measures used by banks,asset managers,pension funds,and insurers;

k)explain constraints used in managing market risks,including risk budgeting,position limits,scenario limits,and stop-loss limits;

l)explain how risk measures may be used in capital allocation decisions.

2.Algorithmic trading and high-frequency trading

a)define algorithmic trading;

b)distinguish between execution algorithms and high-frequency trading algorithms;

c)describe types of execution algorithms and high-frequency trading algorithms;

d)describe market fragmentation and its effects on how trades are placed;

e)describe the use of technology in risk management and regulatory oversight;

f)describe issues and concerns related to the impact of algorithmic and high-frequency trading on securities markets.

七、Equity

1.原2016年Reading 31删除

The Five Competitive Forces That Shape Strategy

2.原2016年Reading 32删除

Your Strategy Needs a Strategy

八、Fixed Income

新增：

READING 39.CREDIT DEFAULT SWAPS

The candidate should be able to:

a)describe credit default swaps(CDS),single-name and index CDS,and the parameters that define a given CDS product;

b)describe credit events and settlement protocols with respect to CDS;

c)explain the principles underlying,and factors that influence,the market’s pricing of CDS;

d)describe the use of CDS to manage credit exposures and to express views regarding changes in shape and/or level of the credit curve;

e)describe the use of CDS to take advantage of valuation disparities among separate markets,such as bonds,loans,equities,and equity-linked instruments.

九、Derivatives

虽然这一部分结构调整很大，但核心知识点无变化

关键变动：

1.CDS删除，实际移动到固定收益

2.16年考纲提及到的Eurodollar Future,cap and floor,contango and backwardation,FRA

十、Alternative Investments

原2016年Reading 42改变

从2016 A Primer on Commodity Investing；改变为2017 Commodities and Commodity Derivatives:An Introduction

2017年新增加内容

a)compare characteristics of commodity sectors;

b)compare the life cycle of commodity sectors from production through trading or consumption;

c)contrast the valuation of commodities with the valuation of equities and bonds;

d)describe types of participants in commodity futures markets;

e)analyze the relationship between spot prices and expected future prices in markets in contango and markets in backwardation;

f)compare theories of commodity futures returns;

g)describe,calculate,and interpret the components of total return for a fully collateralized commodity futures contract;

h)contrast roll return in markets in contango and markets in backwardation;

i)describe how commodity swaps are used to obtain or modify exposure to commodities;

j)describe how the construction of commodity indexes affects index returns.

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