CFA Level I

Study Sessions Outline for the upcoming Level I CFA® course edition:

The course fee includes:

1. A series of 12 sessions of 8 clock hours each, held on 6 consecutive weekends. The sessions take place in an air-conditioned classroom, in the city centre. Refreshments and drinks will be offered during the sessions.
2. A set of materials and handbooks prepared by the trainers and practice tests.
3. An option to consult the trainer on the phone or by email during the week, between the weekends and after the course.
4. Samples of CFA exam questions
5. Tested exam strategy
6. Course completion certificate

Enrollment

To enrol on a course:

1. Send your contact data by email or fill in the enrollment form.
2. Pay the total fee or the first instalment of PLN 1700 into the bank account available in Contact us, where you will find detailed information about payment.

You will receive an email confirming your payment and registration on the list of participants. Should you need any further information or have any queries, please contact us.

Total course fee: PLN 3700

Students and candidates who graduated not earlier than a year ago are entitled to a discount of PLN 200.

Course venue

Conference Centre: right in the centre of Warsaw, Al. Jerozolimskie 44.

Should the venue or time of the course be changed, each participant will be informed about the change 5 days before the start of the course at the latest.

CFA Program curriculum

Quantitative Methods (16 hours)

• The Time Value of Money
• Discounted Cash Flows
• Statistical Concepts
• Market Returns
• Probability Concepts
• Common Probability Distributions
• Sampling and Estimation
• Hypothesis Testing
• Technical Analysis

Economics (16 hours)

Microeconomics:

• Demand and Supply Analysis: Consumer, The Firm
• The Firm and Market Structures

Macroeconomics:

• Aggregate Output
• Prices and Economic Growth
• Business Cycles
• Monetary and Fiscal Policy
• International Trade and Capital Flows
• Currency Exchange Rates

Financial Reporting and Analysis (24 hours)

• Financial reporting mechanics
• Financial reporting standards
• Income statement
• Balance sheet
• Cash flow statement
• Financial analysis techniques
• Inventories
• Long-lived assets
• Income taxes
• Long-term liabilities
• Financial reporting quality: accounting warning signs
• Accounting shenanigans on the cash flow statement

Corporate Finance, Portfolio Management, Equity Investments (16 hours)

Corporate finance:

• Capital budgeting
• Cost of capital
• Operating, financial, total leverage
• Dividends and share repurchases
• Working capital

Portfolio management:

• Risk and return
• Market organization and structure
• Optimal portfolio
• Systematic and nonsystematic risk
• Beta
• CAPM

Equity:

• Security market indices
• Market efficiency
• Types of equity securities
• Industry and company analysis
• Equity valuation models

Fixed Income Investments, Derivatives, Alternative Investments (16 hours)

Equity and Fixed income:

• Features of debt securities
• Risks associated with investing in bonds
• Yield spreads
• Types of debt securities
• Valuation of debt securities
• Yield measures, spot rates, forward rates
• Measurement of interest rate risk

Derivatives and Alternative investments:

• Forward markets and contracts
• Futures markets and contracts
• Option markets and contracts
• Swaps markets and contracts
• Option strategies
• Alternative investments
• Investing in commodities

Revision and Mock exam (8 hours)

Total 96 hours