He also represents many fund managers in connection with spinoffs. Johnson, mba, ca, cma, cbv, cpa, cfa campbell valuation partners limited overview financial statement analysis is fundamental to a corporate acquirers assessment of an acquisition or merger candidate. May 26, 2010 contains 20 practice question with answers on alternative investments for cfa level 1 exam. Chapter four discounting and alternative investment criteria 4. Test on alternative investments for cfa level 1 proprofs. There is only this one reading regarding alternative investments, but you still dont want to overlook the material in this section.
This preparatory course is helpful for people who are looking forward to give cfa level 1 exam. Book 4 corporate finance, portfolio management, and equity investments reading assignments and learning outcome statements page 6 f. Online, 20hour, selfpaced course earns ce hours for. The asf is essentially the result of the merger of the general supply fund gsf and the information technology fund itf that supported operations of the federal supply. Online, 20hour, selfpaced course earns ce hours for the cima, cimc, cpwa, cfp designations understand the core concepts in alternative investments gain confidence in discussing and. Fundamentals fills a critical education gap for those who need to understand the evolving landscape of alternative investments. Contains 20 practice question with answers on alternative investments for cfa level 1 exam. The alternative investment fund managers regulations 20. Caia level i free ebook pdf download kaplan schweser. They also may have been less liquid or difficult to value other factors that have made them alternative.
Alternative asset classes and strategies historically may have been relatively difficult to access for the majority of investors, in some cases because of large investment minimums and long lockup periods for capital invested. He has extensive experience with all alternative asset classes, including venture capital and laterstage growth equity investments, leveraged buyouts, mezzanine investments, real estate ventures and opportunity funds, secondary investments, funds of funds and hedge funds. Is the role of a director who oversees an alternative strategy fund different from. The requirement of the securities and exchange commission. Structuring leveraged finance transactions for private. Ais alternative investments mbs mortgage backed securities 2. Choice a is incorrect because merger arbitrage is an eventdriven strategy. These portfolios have the lowest risk for a given level of expected return. Investments that combine features of the prior two groups.
Coinvestment opportunities continue to grow in popularity with institutional investors and fund sponsors, and coinvestments continue to play an important role in alternative asset investments. Dec 10, 2015 gsas acquisition services fund asf is a revolving fund in the treasury authorized by statute 40 u. A primer for investment professionals provides an overview of alternative investments for institutional asset allocators and other overseers of portfolios containing both traditional and alternative assets. Private equity, real estate, and commodities are all considered alternative because they represent an alternative to. Instead, they diversify their portfolios by investing in assets and securities that behave. There are 10 questions in this test from the alternative investments section of the cfa level 1 syllabus. Over 5,700 practice questions that cover the entire cfa curriculum. Caia level i, 3rd edition is the curriculum book for the chartered alternative investment analyst. I will try and jot down the important points and ideas in each of the cfa readings, both for my reference as well as for my fellow aspirants who may benefit from it. Cfa level ii 2014 alternative investments quartic training. Alternative investments may encompass any nontraditional investments of financial assets such as hedge funds, private equity, venture capital, real estate, commodities, and other assets. Level i assesses understanding of various alternative asset classes. Acquired fund fee expenses and business development. Within alternative investments, there is a new chapter on commodities, a primer on commodity investing.
Figures exclude add ons, grants, mergers, secondary stock purchases and venture. Investors rarely allocate all their money to one type of asset or security. You will receive an email from kaplan schweser with a link to. Download your free copy of caia fundamentals ebook. Dcp midstream, llc consolidated financial statements for. You will receive an email from kaplan schweser with a link to access your ebook anytime. Learn vocabulary, terms, and more with flashcards, games, and other study tools.
Question 11 options 1 contractual alliance 2 merger 3. Black, hossein kazemi alternative investments caia level i third edition caia knowledge series. Stewart, introduction to alternative investments, in cfa program, level 1, volume 6 cfa institute, 2012. Alternative investment fund managers directive aifmd. Third avenue focused credit fund the fund is a separate nondiversified within the meaning of section 5b2 of the investment company act of 1940 investment series of thirdavenuetrustthe trust. Structuring leveraged finance transactions for private equity. Cfa level 1 alternative investments 20 practice question.
Identify factors that an analyst should consider when evaluating the qualifications of board members. Future of finance develops cfa institute thought leadership to help shape a more trustworthy, forwardthinking investment profession that better serves society. The cfa curriculum is always changing and this last reading of level 1 has been completely overhauled by the institute and is considered a new reading. As part of its due diligence investigation, a corporate. Gsas acquisition services fund asf is a revolving fund in the treasury authorized by statute 40 u. The official caia level 1 curriculum book alternative investments. We continue our discussion of new level ii readings. So you can reasonably expect encounter 8 to 10 questions from this material on exam day. Our focus is on opportunities for change, and our goal is to motivate and empower the world of finance to become an environment where investor interests come first, markets function at. It then breaks down commodities into the various sectors. Investing in the debt and equity of distress firms requires a completely different level of analysis compared to investing in nondistressed securities.
December 2020 cfa level 1 exam preparation with analystnotes. Enter your information in the form below and click submit form. The study session on alternative investments has a 4% weighting on the level 1 cfa exam. These funds may focus on mergers, spinoffs, distressed debt situations, or. Chapter four discounting and alternative investment criteria. Meaning of aifm, managing an aif, external aifm and internal aifm 8 part 2. Ncfa submission to finance canada march 2018 final slideshare. Start studying cfa level 2 2015 alternative investments reading 38 private real estate investments. Caia level 1, third edition provides a comprehensive introduction to institutionalquality alternative investments and has been designed to serve as a. Level i assesses understanding of various alternative asset classes and knowledge of the tools and techniques used to evaluate the riskreturn attributes of each one.
Caia level 1, third edition provides a comprehensive introduction to institutionalquality alternative investments and has been designed to serve as a resource for professionals, a textbook for university courses, and the primary readings for level 1 of the charter program of the chartered alternative investment analyst. I will try and jot down the important points and ideas in each of the cfa readings, both for my. For this article, we will look at alternative investments for cfa level i. Johnson, mba, ca, cma, cbv, cpa, cfa campbell valuation partners limited overview financial statement analysis is fundamental to a corporate acquirers assessment of an acquisition or merger. The closing of an acquisition with a significance level of more than 20% also triggers a requirement for the acquiring company to file target and pro forma financial statements within 71 days of the due date. The funding source is usually individuals angels rather than vc funds. Describe the responsibilities of the audit, compensation, and nominations committees and identify factors an investor should consider when evaluating the quality of each committee. Gsas acquisition services fundan opportunity to innovate. The alternative investment fund managers regulations 20 made coming into force 22nd july 20 contents part 1 introductory provisions 1. Board oversight of alternative investments mutual fund directors. Two of the important topics like corporate finance and alternative investments are explained in this course in great detail with the help of relevant examples and references.
Value line funds completes acquisition of alpha defensive. Cfa institute investment foundations, third edition. Browse the collection from the leading journal on investment management practice, to thought leadership articles, to ondemand videos and podcasts, highquality content is available to you. By contrast, you can expect 24 questions on each of the core asset classes, equity and fixedincome. Evaluate a companys management of accounts receivable.
Exhibit 81 shows alternative investments grouped according to these distinctions. Highest standard of achievement in alternative investment education. A number of detailed disclosure requirements, including. Oct 29, 2015 1 the aggregate of the investments with any one counterparty is limited to 25 percent of the federal credit union s net worth and 50 percent of its net worth with all counterparties. The primary benefit of alternatives investments is the diversification effect due to the low correlation of returns compared to traditional. Financial statements triggered by acquisitions when you need them.
Dec 18, 2014 transactions for private equity acquisitions. Figures exclude addons, grants, mergers, secondary stock purchases and venture. Comprehensive study notes that are based on the cfa institutes study guide for the 2020 level 1. State of alternative investment 5 fundamentals of alternative investments the fundamentals of alternative investments certificate program provides a foundation of core concepts in alternative investments. Alternative investments pdf download stocks, bonds and cash are the most commonly known traditional investments. Cfa level 2 2015 alternative investments reading 38. Corporate finance and alternate investments for cfa level 1.
The closing of an acquisition with a significance level of more than 20% also triggers a requirement for the acquiring company to file target and pro forma financial statements within 71 days of the due date of the closing 8k, or a total of four business days plus 71 calendar days after closing. Start studying cfa level 1 alternative investments. The official caia level 1 curriculum bookalternative investments. Caia level i, 3rd edition is the curriculum book for the chartered alternative investment analyst caia level i professional. Transparent and unambiguous the underlying investments of the. Shipping may be from multiple locations in the us or from the uk, depending on stock availability.
See also asc the alberta capital market, june 2019. Thetrust,adelawarebusinesstrust,isregisteredunderthe. Value line defensive strategies fund performance as of 33116. Comprehensive study notes that are based on the cfa institutes study guide for the 2020 level 1 exam. Financial statements triggered by acquisitions when you. The reading begins with a list of market participants. Cfa level 1 alternative investments flashcards quizlet.
Alternative investments study notes cfa level 1 exam. Strategy and tactics of international mergers and acquisitions. Two of the important topics like corporate finance and alternative investments are explained in this course in. Click the link in your email to access your free ebook. Third avenue focused credit fund the fund is a separate nondiversified within the meaning of section 5b2 of the investment company act of 1940 investment series of thirdavenuetrustthe. In that environment, using the revised capital market expectations and established. Caia level i, 3rd edition is the curriculum book for the chartered alternative investment. Comprehensive program comprised of a twotier exam process.
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