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excellent study guide filled with basic exam facts for the CFA Level 3
exam. The book is also available at Amazon.com
Example
Questions from the Exam Fact CFA Level 3 Book:
Define beta research
research to set capital market expectations related to systematic
risk and returns to systematic risk. (usually centralized within a firm)
Define alpha research
concerned with earning excess risk-adjusted returns through the
use of specific strategies within specific asset groups. (usually conducted
within tea's with requisite expertise.)
Define 7 step process to formulate capital market expectations
1. determine final set of expectations that are needed including
time horizon.
2. Research Historical Record (look at results and factors)
3. Specify the method(s)/model(s) to use and the info
requirements.
4. Determine best source for information requirements.
5. Interpret the current investment environment using the selected
data and methods, applying experience and judgment.
6. formulate capital market expectations (answers to step 1)
7. monitor actual outcomes vs expectations/refine process
