List the often tested topics HERE

List your often tested topics BELOW. I got this list from Analyst ninja–by the way I wish I had done the mocks on the analystninja website last year as I have noticed that some topics are tested every year or every other year. I believe if one masters these areas, you have would have nailed at least 40% of the exam: )

  1. Pension Fund Institutions
  2. Cobb-Douglass
  3. Fed Model / Yardeni / Tobin’s Q
  4. Grinold-Kroner Model
  5. Taylor rule
  6. Solving corner portfolios
  7. Adjust Beta/Duration with futures
  8. Implementation shortfall
  9. Performance attribution
  10. Individuals: Identifying risk tolerance, stating return objective, computing return rate etc

i would add :

Capital Market expectations: Singer Terhaar approach

Individuals: liquidity requirement

Are those mocks from anaystninja helpful?

I have been using the mocks after each topic and find them quite helpful.

Ok! Tq!

  1. Breakeven analysis
  2. Rebalancing - CPPI, Buy and Hold ; constant mix
  3. Pension fund linking Assets liability management -eg if you have DPF that pays future wageincreases, you need to real rate bonds; higher nominal bonds % if benefits are not indexed for inflation.

I notice Grinold-Kroner model or Cobb-Douglass are in every AM paper – from 2007 or so to date. Funny ha!

Calculating return objectives - which despite seeming super easy they always find ways to trip me up.

Gift and Bequest calcs

Core capital

Value At Risk calcs and questions


Focus on the not most tested too… They threw an entire small section on Alternative Investment in an item set question. Still those are important and CFA loves to test them.

Portfolio management:

  1. Formulating return objective for individuals and institutions; and computing the required rate of return

  2. Liqu


You missed the tipical alternative investment question which adds “Which of the following does not protect you against inflation (commodities)?- answer: Agriculture”

Another is that hedge funds and Managed futures does not provide diversification but enhace portfolio expected return.

+1, CFA loves swaps

+1, I think we must not forget taxes too and all of the RV formulas on them ( as you mentioned)

Ethics cheeky