Cfa 2019 Schweser - Level 3 Schwesernotes Book 1: Ethical And Professional Standards, The Asset Management Industry And Professionalism, And Behavioral Finance

Contents 1. Welcome to the 2019 Level III SchweserNotes™ 2. Learning Outcome Statements 3. Study Session 1—Code of Ethics and Standards of Professional Conduct 1. Readings 1 & 2: CFA Institute Code of Ethics and Standards of Professional Conduct Guidance for Standards I–VII 1. Exam Focus 2. Module 1.1: Code and Standards 3. Module 2.1: Guidance for Standards I(A) and I(B) 4. Module 2.2: Guidance for Standards I(C) and I(D) 5. Module 2.3: Guidance for Standard II 6. Module 2.4: Guidance for Standards III(A) and III(B) 7. Module 2.5: Guidance for Standards III(C), III(D), and III(E) 8. Module 2.6: Guidance for Standard IV 9. Module 2.7: Guidance for Standard V 10. Module 2.8: Guidance for Standard VI 11. Module 2.9: Guidance for Standard VII 12. Answer Key for Module Quizzes 4. Study Session 2—Ethical and Professional Standards in Practice 1. Reading 3: Application of the Code and Standards 1. Exam Focus 2. Module 3.1: Cases 3. Key Concepts 4. Answer Key for Module Quiz 2. Reading 4: Asset Manager Code of Professional Conduct 1. Exam Focus 2. Module 4.1: The Asset Manager Code 3. Key Concepts 4. Answer Key for Module Quiz 5. Study Session 3—The Asset Management Industry and Professionalism 1. Reading 5: Overview of the Asset Management Industry and Portfolio Management 1. Exam Focus 2. Module 5.1: The Asset Management Industry 3. Module 5.2: The Portfolio Management Process and Investment Governance 4. Key Concepts 5. Answer Key for Module Quiz 2. Reading 6: Professionalism in Investment Management 1. Exam Focus 2. Module 6.1: Establishing Trust, Expectations, and Challenges of Investment Management Professionals 3. Key Concepts 6. 7. 8. 9. 10. 4. Answer Key for Module Quiz Topic Assessment: Ethical and Professional Standards Topic Assessment Answers: Ethical and Professional Standards Study Session 4—Behavioral Finance 1. Reading 7: The Behavioral Finance Perspective 1. Exam Focus 2. Module 7.1: Intro: Traditional Finance vs. Behavioral Finance 3. Module 7.2: Utility Theory and Prospect Theory 4. Module 7.3: Implications 5. Key Concepts 6. Answer Key for Module Quizzes 2. Reading 8: The Behavioral Biases of Individuals 1. Exam Focus 2. Module 8.1: Cognitive Errors vs. Emotional Biases 3. Module 8.2: Emotional Biases 4. Key Concepts 5. Answer Key for Module Quiz 3. Reading 9: Behavioral Finance and Investment Processes 1. Exam Focus 2. Module 9.1: Classifying Investors 3. Module 9.2: Implications: Clients and Their Portfolios 4. Module 9.3: Implications: Other 5. Key Concepts 6. Answer Key for Module Quizzes Topic Assessment: Behavioral Finance Topic Assessment Answers: Behavioral Finance List of pages 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. 16. 17. 18. 19. 20. 21. 22. 23. 24. 25. 26. 27. 28. 29. 30. 31. 32. 33. 34. 35. 36. 37. 38. 39. 40. 41. 42. ix x xi xii xiii xiv xv xvi 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 43. 44. 45. 46. 47. 48. 49. 50. 51. 52. 53. 54. 55. 56. 57. 58. 59. 60. 61. 62. 63. 64. 65. 66. 67. 68. 69. 70. 71. 72. 73. 74. 75. 76. 77. 78. 79. 80. 81. 82. 83. 84. 85. 86. 87. 88. 35 36 37 38 39 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 89. 90. 91. 92. 93. 94. 95. 96. 97. 98. 99. 100. 101. 102. 103. 104. 105. 106. 107. 108. 109. 110. 111. 112. 113. 114. 115. 116. 117. 118. 119. 120. 121. 122. 123. 124. 125. 126. 127. 128. 129. 130. 131. 132. 133. 134. 83 84 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 100 101 102 103 104 105 107 108 109 110 111 112 113 114 115 116 117 118 119 120 121 122 123 124 125 126 127 128 129