The Investment Advisor Body of Knowledge + Test Bank: Readings for the CIMA Certification

1155 Pages·2015·6.22 MB·English

by  IMCA

The Investment Advisor Body
of Knowledge
Readings for the CIMA® Certification
®
IMCA INVESTMENT MANAGEMENT
CONSULTANTS ASSOCIATION
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Contents
Acknowledgments vii
Introduction xi
CHAPTER1 IMCA Code of Professional Responsibility and
Standards of Practice 1
CHAPTER2 Regulatory Considerations 37
CHAPTER3 Statistics and Methods 47
CHAPTER4 Applied Finance and Economics 105
CHAPTER5 Global Capital Markets: History and Valuation 235
CHAPTER6 Attributes of Risk 307
CHAPTER7 Risk Measurements 321
CHAPTER8 Performance Measurement and Attribution 333
CHAPTER9 Traditional Global Investments: Equity and Fixed Income 393
CHAPTER10 Fixed-Income Vehicles 471
CHAPTER11 Foreign Exchange Market 547
CHAPTER12 Alternative Investments 569
CHAPTER13 Options, Futures, and Other Derivatives 651
CHAPTER14 Tools and Strategies Based on Technical Analysis 703
CHAPTER15 Portfolio Theories and Models 759
CHAPTER16 Behavioral Finance Theory 815
CHAPTER17 Client Discovery 899
v
vi Contents
CHAPTER18 Investment Policy Statement (IPS) 997
CHAPTER19 Portfolio Risk Management Strategies 1017
CHAPTER20 Manager Search, Selection, and Monitoring 1049
CHAPTER21 Perform Portfolio Review and Revisions Process 1083
IMCA 1103
AbouttheAuthor 1105
Index 1107
Acknowledgments
IMCA Board of Directors
John Nersesian, CIMA, CFP, CPWA (Chair)
Scott Thayer, CIMA (Vice Chair)
Kevin Sanchez, CIMA, CFP, CPWA (Treasurer)
David Koulish, CPWA, CFP (Secretary)
Betsy Piper/Bach, JD, CIMA, CFP, CTFA (Past Chair)
David Archer, CIMA, AIFA
Dorothy Bossung, CIMA, CFP, CPWA
Bruce Curwood, CIMA, CFA
Tony Davidow, CIMA
Stewart Koesten, CIMA, CFP, AIF
John Moninger, CIMA, CPWA, AIF
Margaret Towle, PhD, CIMA, CPWA
Brett Wright, CIMA, CPWA
Keith Clemens, CIMA, CPWA
Todd Wagenberg, CIMA
CIMA Certification Commission
Jay Shein, PhD, CIMA, CFP (Chair)
David Archer, CIMA, AIFA
Lewis Assaley, PhD, CIMA
David Cordell, PhD, CFP, CFA
Alfred Eaton, CIMA, CFP
Phil Fazio, DBA, CFP, CIMA
Todd Wagenberg, CIMA
Ellen Walsh, CIMA
Deidre Spurlin Waltz, CIMA, CPWA, CFP
Frederick Weiss, CIMA
Grace Wellerts, CIMA, CFP
IMCA Technical Advisory Board
Bruce Curwood, CIMA, CFA
Phil Fazio, DBA, CFP, CIMA
Jonathan Golub, CFA
Nigel Lewis, PhD
Rex Macey, CIMA, CFA, CFP
vii
viii Acknowledgments
Ash Rajan, MBA
Jay Shein, PhD, CIMA, CFP
Scott Thayer, CIMA
Margaret Towle, PhD, CIMA, CPWA
IMCA Staff
Sean Walters, CAE (Executive Director)
Ian MacKenzie (Chief Operations Officer)
Gary Diffendaffer, CFP (Chief Certification Officer)
Theresa Bartlett (Director of Certification)
Angie Lutterman, CPA (Chief Financial Officer)
Ceil Oetting, PHR (Senior Director, Human Resources)
Stephanie Lasser, CAE, CMP (Director of Education and Conferences)
Jamie Lewis (Education & Product Development Manager)
Cheryl Brandes (Education Programs Manager)
Tricia Fleming (Education Programs Coordinator and Administrator)
Jill Ladouceur (Director of Creative Services)
Ryan Hoffman (Director of Communications)
Debbie Nochlin (Managing Editor, Investments&WealthMonitor and Journalof
InvestmentConsulting)
AspecialthanksgoestoJamieLewisfororganizingandmanagingthisproject.Your
patienceandpersistencewerecritical.Thiswouldneverhavecometogetherwithout
your tireless work. Thank you, Jamie!
Contributing Authors
M.J. Alhabeeb, PhD
Noel Amenc, PhD
Howard J. Atkinson, CIMA, CFA
Mark J. Anson, PhD, JD, CPA, CFA, CAIA
Kris Boudt, PhD
Alistair Bryne, PhD, CFA
Gerald W. Buetow Jr., PhD, CFA
Roger G. Clarke, PhD
W. Sean Cleary, PhD, CFA
Bruce M. Collins, PhD
Robert M. Conroy, DBA, CFA
Garry B. Crowder, JD
Christopher L. Culp, PhD
Joakim Darras
Pamela P. Drake, PhD, CFA
Frank J. Fabozzi, PhD, CFA, CPA
Ryan C. Fuhrmann, CFA
Khalid Ghayur, CFA
Felix Goltz
Larry Harris, PhD
Ronan G. Heaney