For those who are new to CFA, the exams of the ten courses may indeed make people's scalp tingle, but as long as you can have a clear understanding of these courses and arrange the review order reasonably, you can effectively improve the learning efficiency and achieve twice the result with half the effort. Next, Mr. Rongyue will tell you which subject to learn at CFA level 1?Ten subjects in order
For candidates who are just getting startedQuantitative methods and portfolio management and wealth plarningIt is recommended to study the subject together.
When you see the quantity analysis, don't panic yet. Actually, you only need basic knowledge of arithmetic to master it. Don't be intimidated by its name, quantitative analysis doesn't require complex knowledge of calculus or mathematical statistics. So, don't worry, take it one step at a time.
It's well worth learning quantitative analysis. This course provides you with a lot of basic concepts, such as the time value of money, the calculation of the final value of the present value, etc. These concepts will be used in many subsequent courses, so it's helpful to build a solid foundation first.
Quantitative analysis is like a trusted friend, and the time and effort you put into it will not be in vain. It is a "high-input, high-output" way of learning, and as long as you master the calculation skills, you can easily tackle most of the exam questions. Moreover, the qualitative question style of this course is more fixed and less flexible, which is good news for many people.
Once you've learned about quantity analysis, I recommend that you move on to portfolio management. There is a strong connection between the two courses. Portfolio management is actually an investment strategy that emphasizes the importance of diversification and asset allocation. By studying portfolio management, you will be able to better apply your knowledge in quantitative analysis to make more effective investment decisions.
Portfolio management is not an incomprehensible concept. To put it simply, it's an investment basket. Our goal is to select the most suitable investment products and determine the appropriate investment ratio. In this way, we can achieve the right allocation of assets, reduce risk and improve returns.
What should I invest in and in what proportion?This is the process of "management". Therefore, after taking this course, we will be able to find the most suitable investment products and invest them with the right weighting, that is, do asset allocation.
To sum up, the learning advice for everyone is to learn quantity & portfolio management firstEconomics, understanding paramount;Financial statement analysis + corporate finance, difficult and easy to combine;Fixed income, equity, derivatives, alternatives, can be put together to learn;Ethics is placed in the last subject and re-studied 2 months before the exam.