Main differences for CFA Level III - MUST know

What are the main differences that we MUST need to know? I know there are hundreds of them but I believe the MOST important ones are these:

  1. DC vs DB Plan

  2. Fixed vs Variable Annuities

  3. Returns vs Holdings based style analysis

  4. TWR vs MWR

  5. Econometric modeling vs leading/lagging indicators vs checklists

  6. AO vs ALM approach

  7. MVO vs REF vs BL vs Monte Carlo

  8. Cash flow immunization vs Single/Multiple Liability Immunization

  9. Hedge Funds vs Managed Futures

  10. CM/BH/CPPI strategies

  11. ETF vs Open end Mutual Funds

  12. Electronic Crossing Network vs Electronic Communication Networks (Both fall within Order driven markets)

  13. Different Trading Techniques advantages and disadvantages (LNCAL: Liquidity at any cost, Need Trustworthy Agent, Costs are not important, Advertise to draw liquidity and Low cost whatever the liquidity)

If anyone wants to add some more bullet points that I have missed, it would be great.

  • Core-satellite vs completeness portfolio

  • settlement risk vs credit risk

  • VWAP vs implementation shortfall vs crossing system

  • conservatism bias vs status quo bias

Cognitive vs. Emotional

International bonds to hedge vs. to not hedge

Institutional vs. Individual