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Level II : 2015 - 2016 Program Changes

The 2016 Level II curriculum has 56 readings.


The major changes are in Portfolio Management.
For any questions or comments please email us at support@ift.world

Notes and Key

Topic

Ethics

Quantitative
Methods

Economics

FRA

Corporate
Finance

2015 # 2015 Reading Name


1
Code of Ethics and Professional Standards
2
Guidance for Standards IVII
3
CFA Institute Research Objectivity Standards
4
The Glenarm Company
5
Preston Partners
6
Super Selection
7
Trade Allocation: Fair Dealing and Disclosure
8
Changing Investment Objectives

Red
Green
Yellow

2016 #
1
2
3
4
5
6
7
8

Removed
New/Added
Updated
2016 Reading Name
Code of Ethics and Professional Standards
Guidance for Standards IVII
CFA Institute Research Objectivity Standards
The Glenarm Company
Preston Partners
Super Selection
Trade Allocation: Fair Dealing and Disclosure
Changing Investment Objectives

9
10
11

Correlation and Regression


Multiple Regression and Issues in Regression Analysis
Time-Series Analysis

9
10
11
12

Correlation and Regression


Multiple Regression and Issues in Regression Analysis
Time-Series Analysis
Excerpt from Probabilistic Approaches: Scenario

12
13
14

Currency Exchange Rates: Determination and Forecasting


Economic Growth and the Investment Decision
Economics of Regulation

13
14
15

Currency Exchange Rates: Determination and Forecasting


Economic Growth and the Investment Decision
Economics of Regulation

15
16
17
18
19
20
21

Inventories: Implications for Financial Statements and Ratios


Long-lived Assets: Implications for Financial Statements and ratios
Intercorporate Investments
Employee Compensation: Post Employment and Share-Based
Multinational Operations
Evaluating Quality of Financial Reports
Integration of Financial Statement Analysis Techniques

16
17
18
19
20
21
22

Inventories: Implications for Financial Statements and Ratios


Long-lived Assets: Implications for Financial Statements and ratios
Intercorporate Investments
Employee Compensation: Post Employment and Share-Based
Multinational Operations
Evaluating Quality of Financial Reports
Integration of Financial Statement Analysis Techniques

22
23
24
25
26
27

Capital Budgeting
Capital Structure
Dividends and Share Repurchases: Analysis
Corporate Performance, Governance, and Business Ethics
Corporate Governance
Mergers and Acquisitions

23
24
25
26
27
28

Capital Budgeting
Capital Structure
Dividends and Share Repurchases: Analysis
Corporate Performance, Governance, and Business Ethics
Corporate Governance
Mergers and Acquisitions

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Comments

Minor LOS change

Level II : 2015 - 2016 Program Changes


Topic

2015 # 2015 Reading Name

2016 # 2016 Reading Name

28
29
30
31
32
33
34
35
36
37

Equity Valuation: Applications and Processes


Return Concepts
The Five Competitive Forces That Shape Strategy
Your Strategy Needs a Strategy
Industry and Company Analysis
Discounted Dividend Valuation
Free Cash Flow Valuation
Market-Based Valuation: Price and Enterprise Value Multiples
Residual Income Valuation
Private Company Valuation

29
30
31
32
33
34
35
36
37
38

Equity Valuation: Applications and Processes


Return Concepts
The Five Competitive Forces That Shape Strategy
Your Strategy Needs a Strategy
Industry and Company Analysis
Discounted Dividend Valuation
Free Cash Flow Valuation
Market-Based Valuation: Price and Enterprise Value Multiples
Residual Income Valuation
Private Company Valuation

38
39
40
41

Private Real Estate Investments


Publicly Traded Real Estate Securities
Private Equity Valuation
A Primer on Commodity Investing

39
40
41
42

Private Real Estate Investments


Publicly Traded Real Estate Securities
Private Equity Valuation
A Primer on Commodity Investing

Fixed Income

42
43
44
45
46

The Term Structure and Interest Rate Dynamics


The Arbitrage-Free Valuation Framework
Valuation and Analysis: Bonds with Embedded Options
Credit Analysis Models
Introduction to Asset-Backed Securities

43
44
45
46

The Term Structure and Interest Rate Dynamics


The Arbitrage-Free Valuation Framework
Valuation and Analysis: Bonds with Embedded Options
Credit Analysis Models

Derivatives

47
48
49
50
51
52

Forward Markets and Contracts


Futures Markets and Contracts
Option Markets and Contracts
Swap Markets and Contracts
Interest Rate Derivative Instruments
Credit Default Swaps

47
48
49
50
51
52

Forward Markets and Contracts


Futures Markets and Contracts
Option Markets and Contracts
Swap Markets and Contracts
Interest Rate Derivative Instruments
Credit Default Swaps

Portfolio
Management

53
54
55
56

Portfolio Concepts
Residual Risk and Return: The Information Ratio
The Fundamental Law of Active Management
The Portfolio Management Process and the Investment Policy Statement

53
54
55
56

An Introduction to Multifactor Models


Analysis of Active Portfolio Management
Economics and Investment Markets
The Portfolio Management Process and the Investment Policy Statement

Equity

Alternative
Investments

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Comments

Minor LOS changes