Our goal with these notes is to help you put the grueling CFA exam process behind you as efficiently as possible. We do that by telling you what you need to know, explaining how it’s been tested before, and then giving you comprehensive yet concise notes that explain the material clearly. The idea is to work smarter, not harder.
We went through every old CFA Institute morning exam from 2006-2014, and picked out the 15 most common themes you should be aware of for the morning section.
As we know when we are hedging, we come across different sets of risk. The main one of which is basis risk. Basis risk is “the risk that offsetting investments in a hedging strategy will not experience price changes in entirely opposite directions from each other.
A 1 page Behavioral Finance Cram Guide covering Cognitive and Emotional Biases for the CFA L3 exam