Hardly no changes. http://www.cfainstitute.org/cfaprog/resources/leveliiioutline.html
good for the re-takers
is there a website that shows the changes, like LOSs added, removed etc???
Shweser does something up ever year that explains the changes. CFAI releases nothing to my knowledge.
Differences between 2008 and 2009 Level III Study Sessions: There is quite a bit of shuffling of LOSes among study sessions, but there are only three real changes: 1. In SS 3, removed “A Survey of Behavioral Finance,” Ch. 18, Handbook of the Economics of Finance Nicholas Barberis and Richard Thaler (Elsevier Science B.V., 2003)" 2. In SS 4, added “Human Capital, Asset Allocation, and Life Insurance Financial Analysts Journal” 3. Changed book’s edition from 5th to 6th one for “The Case for International Diversification,” Ch. 9, International Investments, 5th edition, Bruno Solnik and Dennis McLeavey (Addison Wesley, 2003)" Disclaimer: As for changes in editions of the books used for various readin, I have tried to check the edition of the books, but it is possible I may have missed some differences. Note: Used following for the differences: 2008: http://www.schweser.com.cn/download/CFA/levelthree2008curriculumsources.pdf 2009: http://www.cfainstitute.org/cfaprog/resources/pdf/Level_III_combined.pdf ------------------------------------------------------------------------------------------------------- Detailed differences: STUDY SESSION 1: Same STUDY SESSION 2: Same STUDY SESSION 3: REMOVED 13. “A Survey of Behavioral Finance,” Ch. 18, Handbook of the Economics of Finance Nicholas Barberis and Richard Thaler (Elsevier Science B.V., 2003) STUDY SESSION 4: ADDED 20. Human Capital, Asset Allocation, and Life Insurance Financial Analysts Journal STUDY SESSION 6: [Moved to SS 7] 24. “Macroanalysis and Microvaluation of the Stock Market,” Ch. 12, Investment Analysis and Portfolio Management, 8th edition, Frank K. Reilly and Keith C. Brown (South-Western, 2006) STUDY SESSION 7: [Moved to SS 8] 25. “Asset Allocation,” Ch. 5, Managing Investment Portfolios: A Dynamic Process, 3rd edition, William F. Sharpe, Peng Chen, Jerald E. Pinto, and Dennis W. McLeavey (CFA Institute, 2007) [Moved to SS 8] 26. “Linking Pension Liabilities to Assets,” Aaron Meder and Renato Staub (UBS Global Asset Management, 2006) STUDY SESSION 8: [Moved to SS 9] 27. “Fixed-Income Portfolio Management-Part I,” Ch. 6, Managing Investment Portfolios: A Dynamic Process, 3rd edition, H. Gifford Fong and Larry D. Guin (CFA Institute, 2007) [Moved to SS 9] 28. “Relative-Value Methodologies for Global Credit Bond Portfolio Management,” Ch. 5, Jack Malvey, Fixed Income Readings for the Chartered Financial Analyst® Program, 2nd edition, Frank J. Fabozzi, editor (CFA Institute, 2005) STUDY SESSION 9: [Moved to SS 10] 29. “Fixed-Income Portfolio Management-Part II,” Ch. 6, Managing Investment Portfolios: A Dynamic Process, 3rd edition, H. Gifford Fong, Larry D. Guin (CFA Institute, 2007) [Moved to SS 10] 30. “Hedging Mortgage Securities to Capture Relative Value,” Ch. 8, Kenneth B. Dunn, Roberto M. Sella, and Frank J. Fabozzi, Fixed Income Readings for the Chartered Financial Analyst® Program, 2nd edition, Frank J. Fabozzi, editor (CFA Institute, 2005) STUDY SESSION 10: [Moved to SS 11] 31. “Equity Portfolio Management,” Ch. 7, Managing Investment Portfolios: A Dynamic Process, 3rd edition, Gary Gastineau, Andrew R. Olma, and Robert G. Zielinski (CFA Institute, 2007) [Moved to SS 12] 32. “International Equity Benchmarks,” Ch. 10, Benchmarks and Investment Management, Laurence B. Siegel (The Research Foundation of AIMR, 2003) [Moved to SS 12] 33. “Corporate Governance,” Ch. 1, The Theory of Corporate Finance, Jean Tirole (Princeton University Press, 2006) STUDY SESSION 11: = SS 13. [Moved to SS 13] 34. “Alternative Investments Portfolio Management,” Ch. 8, Managing Investment Portfolios: A Dynamic Process, 3rd edition, Jot K. Yau, Thomas Schneeweis, Thomas R. Robinson, and Lisa R. Weiss (CFA Institute, 2007) [Moved to SS 13] 35. “Swaps,” Ch. 8, Derivatives Markets, 2nd edition, Robert L. McDonald (Addison Wesley, 2006) [Moved to SS 13] 36. “Commodity Forwards and Futures,” Ch. 6, Derivatives Markets, 2nd edition, Robert L. McDonald (Addison Wesley, 2006) STUDY SESSION 12: [Moved to SS 14] 37. “Risk Management,” Ch. 9, Managing Investment Portfolios: A Dynamic Process, 3rd edition, Don M. Chance, Kenneth Grant, and John Marsland, (CFA Institute, 2007) STUDY SESSION 13: = SS 15 [Moved to SS 15] 38. “Risk Management Applications of Forward and Futures Strategies,” Ch. 6, Analysis of Derivatives for the CFA® Program, Don M. Chance (AIMR, 2003) [Moved to SS 15] 39. “Risk Management Applications of Option Strategies,” Ch. 7, Analysis of Derivatives for the CFA® Program, Don M. Chance (AIMR, 2003) [Moved to SS 15] 40. “Risk Management Applications of Swap Strategies,” Ch. 8, Analysis of Derivatives for the CFA® Program, Don M. Chance (AIMR, 2003) STUDY SESSION 14: [Moved to SS 16] 41. “Execution of Portfolio Decisions,” Ch. 10, Managing Investment Portfolios: A Dynamic Process, 3rd edition, Ananth Madhavan, Jack L. Treynor, and Wayne H. Wagner (CFA Institute, 2007) STUDY SESSION 15: [Moved to SS 16] 42. “Monitoring and Rebalancing,” Ch. 11, Managing Investment Portfolios: A Dynamic Process, 3rd edition, Robert D. Arnott, Terence E. Burns, Lisa Plaxco, and Philip Moore (CFA Institute, 2007) STUDY SESSION 16: = SS 17 [Moved to SS 17] 43. “Evaluating Portfolio Performance,” Ch. 12, Managing Investment Portfolios: A Dynamic Process, 3rd edition, Jeffrey V. Bailey, Thomas M. Richards, and David E. Tierney (CFA Institute, 2007) [Moved to SS 17] 44. “Global Performance Evaluation,” Ch. 12, International Investments, 5th edition, Bruno Solnik and Dennis McLeavey (Addison Wesley, 2003) STUDY SESSION 17: [Moved to SS 8] 45. “The Case for International Diversification,” Ch. 9, International Investments, 5th edition, Bruno Solnik and Dennis McLeavey (Addison Wesley, 2003) (NOTE: Edition changed from 5th Edition to 6th Edition) [Moved to SS 14] 46. “Currency Risk Management,” Ch. 11, International Investments, 5th edition, Bruno Solnik and Dennis McLeavey (Addison Wesley, 2003) [Moved to SS 12] 47. “Emerging Markets Finance,” Geert Bekaert and Campbell R. Harvey, Journal of Empirical Finance (Elsevier, December 2003, Volume 10, Issue 5) [Moved To SS 7] 48. ”Dreaming With BRICs: The Path to 2050,” Dominic Wilson and Roopa Purushothaman, Global Economics Paper No 99 (Goldman Sachs, 2003) STUDY SESSION 18: Same
Add to above: STUDY SESSION 5: = SS 5
buddham wow!!
It’s unfortunate that they did not drop some of the terrible readings from this year. BRICs and corp. gov. should be replaced or eliminated. I hope we all passed and do not have to do this again!
bromion Wrote: ------------------------------------------------------- > It’s unfortunate that they did not drop some of > the terrible readings from this year. BRICs and > corp. gov. should be replaced or eliminated. I > hope we all passed and do not have to do this > again! This does actually make me feel a little bit better for if I failed. Becuase I killed myself making notes for the last exam and i never got a chance to fully review them for the exam, at least know i know i can use those notes and not stress out as much for studying. I will use the time saved to do practice questions/exams etc.
The CFA Institute isn’t going to bother to change the curriculum now that they force you to buy the books when you register.
Hey buddham, Would you mind doing the same thing for the Level 2 LOS, comparing 2008 to 2009? PLEASE? 
bostonkev Wrote: ------------------------------------------------------- > Hey buddham, > > Would you mind doing the same thing for the Level > 2 LOS, comparing 2008 to 2009? > > PLEASE? bostonkev… dont u read which forum you are posting on!!! i believe u sat for L1 test this year but you have been posting on L2 L3 forums too!!!
bostonkev Wrote: ------------------------------------------------------- > > > equity_research_nds, > > How do I know you are an L3 taker? > > Why don’t you go back to posting stupid things > about hating Pakistanis? > You are a miserable human being. No wonder your > girlfriend left you. > > ================================================== > ======== > Re: Level I pass rates claimed > Posted by: equity_research_nds (IP Logged) > Date: July 9, 2008 01:50AM > > Sorcerer Wrote: > -------------------------------------------------- > ----- > > Well, here in Lahore one instructor with 300+ > > total students is claiming on Google a pass > rate > > of 90%-plus, which is totally absurd since I > > believe roughly one in three pass that level > from > > him. So I wonder what yardstick could someone > > possibly use to inflate the results? > > > > And if there are any students from Lahore here, > > kindly let me know. I aim to do the level in > the > > forthcoming sitting in December. > > plus the fact is that you are from " PAKISTAN " so > dumbness is expected from you guys ( your > instructor included)!!! ======================================================== well you are entitled to your own opnion!!! go kiddo … go back to study L2 (all the best for L1 results ) and FRM, CAIA etc etc
Hahahaha. Kiddo makes me feel so young. I wish more people called me that. Anyways, I meant the last post to be a joke…but reading it over it sounds very serious. Let me be clear…I was just kidding. [K, not more posts at L3, sorry.] BTW, was your girlfriend Pakistani?
IH8FSA Wrote: ------------------------------------------------------- > bromion Wrote: > -------------------------------------------------- > ----- > > It’s unfortunate that they did not drop some of > > the terrible readings from this year. BRICs and > > corp. gov. should be replaced or eliminated. I > > hope we all passed and do not have to do this > > again! > > > > This does actually make me feel a little bit > better for if I failed. Becuase I killed myself > making notes for the last exam and i never got a > chance to fully review them for the exam, at least > know i know i can use those notes and not stress > out as much for studying. I will use the time > saved to do practice questions/exams etc. hopefully none of us would have to go through the CR again…
I’m soo excited that the new curriculum is out. I barely contain the excitement.
IH8FSA Wrote: ------------------------------------------------------- > > This does actually make me feel a little bit > better for if I failed. Becuase I killed myself > making notes for the last exam and i never got a > chance to fully review them for the exam, at least > know i know i can use those notes and not stress > out as much for studying. I will use the time > saved to do practice questions/exams etc. if you were disciplined enough to prepare notes, you will pass my friend, i hope you do, you deserve it for your diligence.
Rohufish, thank you for the boost, I appreciate it. My notes are extremely detailed and about 4 binders think with many underlinings and post it notes. It did take alot out of me but by finishing later than anticipated, i might have given up crucial time on review/practice exams. Like I said, I feel a bit better knowing pretty much that the curriculum is the same (added 1 reading, dropped another, while eveyrthing else is just moved around but still the same). We shall see!!! 1 month left…
Well…considering I feel I have at best a 50-50 chance of passing, seeing they have made very few changes this year makes me feel pretty good for anyone who is going to have to do this thing again. When I failed L2 two years ago, they went and totally changed more than 50% of the material so it was almost like starting from scratch. That was depressing and it really sucked. Here, all my own study notes remain relevant except for the couple of new readings they have added. I’m going camping the weekend following the results release date, so I’m hoping I can take them, the CFAI books and whatever else I’ll may be able to rid myself of, and start a nice big campfire with it all. The thing should burn all weekend. Well, back to enjoying my summer. This will be the last time I worry about this stuff till August 19th around 11AM PST. (Figure that’s how long it will take before I actually get in to see my results that morning).
bostonkev Wrote: ------------------------------------------------------- > Hey buddham, > > Would you mind doing the same thing for the Level > 2 LOS, comparing 2008 to 2009? > > PLEASE? buddham, do you mind doing the same thing for Level 1 LOS please? 
I havent given exam, planning to give in June 09 but i have 2008 syllabus available and trying to guess whether i should use it for now or no…