CFA Program Curriculum Overview

Reviewing the LOS ensures that you can demonstrate the necessary knowledge, skills, and abilities, while also allowing you to track your progress and identify areas of weakness.

Successful candidates report an average of more than 300 hours of preparation for each exam.

Candidates should use the curriculum errata reporting process found on the Curriculum Errata webpage to submit their concerns.

<p>The curriculum development process involves multiple rounds of reviews by content experts to minimize errors and ensure high-quality learning material.</p> Signup and view all the answers

<p>Candidates can send comments or suggestions to <a href="mailto:[email protected]">[email protected]</a>, where their feedback will be reviewed thoughtfully.</p> Signup and view all the answers

<p>He was appointed to the board of directors.</p> Signup and view all the answers

<p>USD 590 million.</p> Signup and view all the answers

<p>It has increased to over five times its IPO valuation.</p> Signup and view all the answers

<p>Physicians and research scientists.</p> Signup and view all the answers

<p>Private market returns generally have lower correlations due to illiquidity and longer investment periods.</p> Signup and view all the answers

<p>NEA's board membership and involvement in partnerships and drug trials.</p> Signup and view all the answers

<p>They provide equity capital and industry expertise.</p> Signup and view all the answers

<p>Private market investments are assessed based on diversification potential due to illiquidity.</p> Signup and view all the answers

<p>To preserve and grow the global purchasing power of Singapore’s strategic reserves.</p> Signup and view all the answers

<p>70% developed market bonds and cash.</p> Signup and view all the answers

<p>65% global equity and 35% global bond.</p> Signup and view all the answers

<p>17% for private equity and 13% for real estate.</p> Signup and view all the answers

<p>To pursue skills-based and opportunistic investments within and outside the primary asset classes.</p> Signup and view all the answers

<p>Over 2,000 investment professionals.</p> Signup and view all the answers

<p>They focus specifically on infrastructure investments within GIC's broader strategy.</p> Signup and view all the answers

<p>In 2013.</p> Signup and view all the answers

<p>To limit the liability of investors to only the risks associated with the project.</p> Signup and view all the answers

<p>SPEs do not govern the specific allocation of cash flows; that is determined by the equity and debt investments.</p> Signup and view all the answers

<p>The value, if any, of the project typically reverts to the grantor.</p> Signup and view all the answers

<p>Public markets have greater liquidity and price transparency, while private markets have different performance measurement approaches.</p> Signup and view all the answers

<p>Higher liquidity in public markets often leads to more frequent pricing and trading opportunities.</p> Signup and view all the answers

<p>It refers to the ratio of cash distributions received by investors to the total amount they have paid in.</p> Signup and view all the answers

<p>They include listed equity and debt securities from mature issuers with stable cash flows and usually pay periodic dividends.</p> Signup and view all the answers

<p>To provide stability to debtholders by ensuring consistent interest payments without early redemption.</p> Signup and view all the answers

<p>IRR represents the uniform discount rate that makes the net present value (NPV) of a series of cash flows equal to zero.</p> Signup and view all the answers

<p>Private market performance is best assessed over multiple years due to the variable cash flows that can appear over time.</p> Signup and view all the answers

<p>The IRR calculation assumes that interim cash flows can be reinvested at the same IRR rate.</p> Signup and view all the answers

<p>Lower reinvestment rates will reduce the overall return of an investment.</p> Signup and view all the answers

<p>The combination leads to a fluctuating cash flow profile, necessitating longer evaluation periods for accurate performance measurement.</p> Signup and view all the answers

<p>NPV is zero when calculated at the IRR, indicating that the present value of cash inflows equals the present value of cash outflows.</p> Signup and view all the answers

<p>The assumption holds better in highly liquid public fixed-income markets.</p> Signup and view all the answers

<p>Exhibit 11 illustrates the IRR trajectory, indicating how returns evolve over the investment holding period.</p> Signup and view all the answers

<p>It reduces the IRR compared to a scenario with zero return on committed capital but still yields a higher IRR than if the funds were fully deployed in long-term public investments.</p> Signup and view all the answers

<p>The future value is USD 530,450.</p> Signup and view all the answers

<p>The future value of USD 530,450 is calculated using the formula: USD 530,450 × (1 + 0.1041)^5.</p> Signup and view all the answers

<p>ROI is calculated as the ratio of future value USD 870,355 to original value USD 500,000, resulting in 1.741×.</p> Signup and view all the answers

<p>The IRR is calculated to be 8.24%.</p> Signup and view all the answers

<p>Delayed cash outflows decrease the IRR of private equity funds as compared to fully deployed public market investments.</p> Signup and view all the answers

<p>The manager may seek liquidity and stability while waiting for capital calls rather than experiencing total opportunity loss.</p> Signup and view all the answers

<p>The IRR of the private equity allocation is expected to be below the 10.41% IRR of the public investment.</p> Signup and view all the answers