Curriculum Developed by Candidate Curriculum Committee CCC); over 130 people involved world wide; extensive review; each level consists of 18 study sessions in CFA Institute-produced study guides Exam Topic Focus Learning Focus I Tools, Inputs, and Professional Standards Knowledge and Comprehension II Asset Valuation and Related Professional Standards Analysis and Application III Portfolio Management Synthesis and and Related Professional Standards Evaluation CFA Institute
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IUC’s scope will focus on two functions (Finance and IT) Adherence to process definitions within the Hackett taxonomy is key to comparability; processes are defined end to end Selling and General Administrative Scope Finance Finance Human Human Resources Resources Sales* Sales* Executive Executive and and Corporate Corporate Services Services**  Total  Sales  General Cash Cash Disbursements Disbursements Total Rewards Rewards Administration Administration Sales Execution Execution General Administration Administration Management Management    Revenue Cycle Payroll Services Sales Operations   Travel and  Revenue Cycle Payroll Services Sales Operations Travel and Transportation Transportation Services Services  Planning  Real Accounting Accounting and and External External Reporting Reporting  Data Data Mgmt., Mgmt., Reporting Reporting & & Compliance Compliance Planning and and Strategy Strategy Real Estate Estate & & Facilities Facilities Management Management  Staffing  Function  Government Tax Tax Management Management Staffing Services Services Function Management Management Government Affairs Affairs  Labor  Legal Treasury Treasury Management Management Labor Relations Relations Legal  Workforce  Quality Compliance Compliance Management Management Workforce Development Development Services Services Service* Quality Management Management Service*  Organisational  Planning Risk  Order  Planning & & Performance Performance Management Management Organisational Effectiveness Effectiveness Risk and and Security Security Management Management Order and and Contract Contract Management Management (OTC) (OTC)  Total  Corporate Fiscal Communications  Service Fiscal Analysis Analysis Total Rewards Rewards Planning Planning Execution Corporate Communications Service Execution  Strategic  Planning Function  Service Function Management Management Strategic Workforce Workforce Planning Planning Planning and and Strategy Strategy Service Operations Operations  Function  Executive Office  Planning Function Management Management and Strategy Executive Office Planning and Strategy  Function Function Management Management Information Technology          Information Technology            Infrastructure Infrastructure Management Management End End User User Support Support Infrastructure Infrastructure Development Development Application Application Maintenance Maintenance Application Application Development Development & & Implement. Implement. Quality Quality Assurance Assurance Risk Risk Management Management IT IT Business Business Planning Planning Enterprise Enterprise Architecture Architecture Planning Planning Emerging Emerging Technologies Technologies Function Function Management Management Procurement Procurement            Supply Supply Data Data Management Management Requisition Requisition and and PO PO Processing Processing Supplier Scheduling Supplier Scheduling Receipt Receipt Processing Processing Compliance Compliance Management Management Customer Customer Management Management Sourcing Sourcing Execution Execution Supplier Supplier Management Management and and Development Development Sourcing Sourcing & & Supply Supply Base Base Strategy Strategy Function Function Strategy Strategy and and Performance Performance Management Management Function Function Management Management Marketing* Marketing*      Marketing Marketing Communication Communication Brand Brand and and Product Product Management Management Planning and Planning and Strategy Strategy Market Market Research Research and and Analytics Analytics Function Management Function Management Capture FTEs and Costs as defined regardless of where they are organizationally located
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Portfolio of Risky + Riskless Asset • To calculate the portfolio return and portfolio variance when we combine the risky asset and riskless asset, we can use the usual formulas, noting that the volatility of the riskfree rate is zero. • Portfolio Return = w1 Rf + w2 Rp. • Portfolio Variance = (w1)^2 (0) + (w2 )^2 (vol of risky asset)^2 + 2 (correlation) (w1 )(w2 ) (0)(vol of risky asset). • Portfolio Volatility = w2 *(vol of risky asset). • This simplification in the formula for the portfolio volatility occurs because the vol of the riskfree asset is zero. • To understand the tradeoff between risk and return, we can graph the portfolio return vs the the portfolio volatility. • The following graph shows this graph for the case when the mean return for the riskfree asset is 5%, the mean return for the risky asset is 12%, and the volatility of the risky asset is 15%. 6
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Portfolio of Risky + Riskless Asset • To calculate the portfolio return and portfolio variance when we combine the risky asset and riskless asset, we can use the usual formulas, noting that the volatility of the riskfree rate is zero. • Portfolio Return = w1 Rf + w2 Rp. • Portfolio Variance = (w1)^2 (0) + (w2 )^2 (vol of risky asset)^2 + 2 (correlation) (w1 )(w2 ) (0)(vol of risky asset). • Portfolio Volatility = w2 * (vol of risky asset). • This simplification in the formula for the portfolio volatility occurs because the vol of the riskfree asset is zero. • To understand the tradeoff between risk and return, we can graph the portfolio return vs the the portfolio volatility. • The following graph shows this graph for the case when the mean return for the riskfree asset is 5%, the mean return for the risky asset is 12%, and the volatility of the risky asset is 15%.
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Recommendation #6 – Establish a system-wide Professional Development Advisory Committee to work in conjunction with the Chancellor’s Office in providing leadership for professional development in the CCC System. The implementation of this broad enterprise will require input from the CCC System’s critical stakeholders. Consequently there should be created a system-wide advisory committee to work in partnership with the Chancellor’s Office in providing leadership to the CCC System in the area of professional development. The committee would: 1. develop guidelines detailing research-based standards for professional development, 2. develop practices and procedures for evaluating and assessing professional development activities, and 3. advocate for effective professional development programs that advance student success. Work of the professional development advisory committee will encourage a focus on the development of statewide guidelines and priorities that explicitly link to student learning and support students in achieving their educational goals. The professional development advisory committee will acknowledge that professional development for faculty falls under the purview of the academic senate per Title 5 Section 53200 (b). Any policies, guidelines, or priorities considered by the professional development advisory committee that impact faculty professional development will therefore be subject to direct consultation with the Academic Senate for California Community Colleges. 6.1 & 6.2
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