CFA Level 1 Exam Prep Masterclass PLUS 162pg CFA Smart Tips

In this lesson, Jhan introduces himself as a highly experienced CFA expert and trainer, who has taught at the world's top investment banks and asset managers like BlackRock, Fidelity, Goldman Sachs, JP Morgan, Aberdeen Standard, and PIMCO. Now he is here in this course to help you pass your CFA exam; so find out more about who he is and how he can help you. In other sections of this course, there are snippets from live interviews with Jhan where he talks more about his brand, what he offers, and the CFA exams.

This is your opportunity to share something about yourself with the rest of the students in this course. Tell us all about your goals and what you want to achieve. You can come back to this board and add more thoughts as you go through the course and achieve your goals. Seeing all the other students in the course will also motivate you and keep you going as you participate in this community of learning.

In this course you get an amazing 110 page workbook that you can download as a reference for going through the lessons and recalling everything you need on exam day. Each lesson also has its own individual worksheet which you can download in the lesson but this workbook combines all those pages into one place for your convenience and maximum EXAM SUCCESS!!

In this lesson, I show you a number of recommendations from Jhan's LinkedIn page where he has received very positive recommendations from CFA students who have experienced his training. Many of them credit Jhan with helping them get through CFA but also highlight his humorous and memorable teaching style as well as his dedication to students. A very common theme in these recommendations is that Jhan is clearly able to take complex topics, break them down for you and teach them in a way that you remember them on exam day and beyond!

Throughout this course we will celebrate your progress at 25%, 50%, 75% and 100%. I really want you to succeed but you need to take action and keep going so look forward to these milestones of progress. I will see you there and cheer you on as you keep going from one milestone to the next >>

In this wipeboard lesson I show you the transformational journey of moving from stress, fear, distractions and procrastination to mastering your time and your tasks. You will see an overview of the 2 main techniques I teach in this course and get an overall understanding of what's coming up in the course before you dive in and start your journey.

This training is extremely different from the other programs and has been battle tested by thousands of CFA Candidates.

No matter where you stand in your preparation this program is powerful and will give you the confidence and the elements you are missing.

The program has been designed to make complicated concepts easy. It is especially intended for those who have difficulties going through the material alone.

Whatever the material you like and picked for your preparation, this program will help you take the most out of your investment and time spent actually studying.

Investing in this training is like getting a personal one-on-one helicopter ride to the top of the mountain. You don't have to climb it yourself.

In this course, all the lessons include a "key takeaways" 1 page PDF worksheet. This is for your handy reference and you can access each of them under the resources of the relevant lesson as you go through the course. These contain the key things you need to remember from what we have taught you so you can revise quickly for your exam. It's important for you to take notes in the lessons but in case you need additional reference info, we have provided it for you in these key takeaways.

PLUS ... we have combined all the individual 1 page worksheets into a single workbook for the entire course, and that's what you get in the resources of this lesson. It simply puts all the lesson worksheets together for you to have in one file. Remember that these worksheets and the combined workbook do not replace your CFA curriculum material which has been provided to you by the institute. This course and all the material is your "Booster Pack" to focus you on the most important topic areas and help you remember it.

Take advantage of everything we have packaged for you in this course - focus on the lessons and GOOD LUCK

In this lecture, you will get an introduction to one of the most important areas of the CFA Level 1 Exam i.e. Ethics, which is covered from LOS 56 to 60. The instructor in this 6 minutes video highlights the importance of Ethics, its topic area weightage, how much you should score at the minimum, and ethics' pivotal role in passing the exam. You will also understand that there are three sections into which Ethics can be divided: Code of Ethics, Standards of Professional Conduct, and Global Investment Performance Standards (GIPS). In the end, the instructor shares a mnemonic to memorize the seven standards of professional conduct.

Discussion of the seven standards starts here. Out of the seven standards, the first four: (I) Professionalism, (II) Integrity of the Capital Markets, (III) Duty to Clients, and (IV) Duty to Employers are discussed. It is recommended to memorize these standards and read stories from the book to understand the cases in which they are violated.

Out of the seven standards, the last three: (V) Investment Analysis, Recommendations, and Actions, (VI) Conflicts of Interest, and (III) Responsibilities as a CFA Institute Member or CFA Candidate. Make sure to read the answers first before attempting the question in the ethics section and target at least 14% marks out of 15%

This lesson introduces you to one of the most challenging topic areas for the CFA Level 1 Exam which carries a weight of 8-12%. Jhan in his signature style introduces you to Quantitative Methods and highlights the most important topics for the exam which include: Hypothesis Testing, Population Mean, Sample Mean, Sum of Mean Deviations, and Mean Absolute Deviation.

Jhan in this lecture explains the concept of Variance and Standard Deviation. Watch this lesson to understand how variance is a more refined measure as compared to MAD for calculating dispersion from the mean. Understand the difference between Variance and Std Deviation and how to calculate them.

A very important concept of CFA Level 1 Exam's Topic Area Quantitative Methods: Confidence Intervals. It is the key to understanding Hypotheses and other important topics like a normal distribution. Jhan in this lesson beautifully explains it.

Jhan explains the concept of Chebyshev’s inequality in his own unique and simplified way. You will also be able to understand its difference from the Normal Distribution

In this lecture, you will learn to build a Confidence Interval given the Confidence Level, Std Deviation, and Normal Distribution.

You will learn about the second most important distribution discussed for CFA Level 1 Exam i.e. Students' t-distribution. You will also learn the differences between t-distribution and normal distribution after watching this lecture.

You will learn about the third most important distribution discussed for CFA Level 1 Exam i.e. log-normal distribution. You will also learn the differences between t-distribution and normal distribution after watching this lecture.

Learn the most important concept used in Hypothesis Testing, The Central Limit Theorem. and to understand the Central Limit Theorem, first, we learn about the Sampling Distribution of Sample Statistics in this lesson.

Watch this lesson to understand the concept of Standard Error, when to use it, and its difference from standard deviation.

Understand the difference between Population Parameters and Sample Statistics in this lesson.

In this lesson, you will get introduced to Hypothesis Testing by learning how to State a Hypothesis. Viewers will also learn the difference between Null and Alternate Hypothesis.

Learn what is Type I and Type II Error in this lesson.

Jhan in the video lesson shares a beautifully crafted Chart that helps in identifying the type of Test required for a given Hypothesis Problem. It is one of the tricks Jhan pulls off from his magic box to save a lot of time and effort for this particularly important topic of the CFA Level 1 Exam.

This video lesson is Part 2 of the comprehensive example we started in the last video session. In this part, Jhan starts with Step 2 of the Hypothesis Testing i.e. To Do the Test. Watch this lesson to learn how to apply the test and the decision criteria for rejecting or not rejecting the Null Hypothesis.

Finally, the 3rd and final part of the comprehensive example concludes on whether to reject the null hypothesis or not by comparing the Test value with the critical values.

The final video lesson for Hypothesis Testing Topic. A very important lecture. Jhan explains the use and importance of P-Value in Hypothesis Testing. At the end of the lecture, Jhan shares extremely useful last-minute exam tips.

In this lesson, we explain the worksheets and workbook that you get with this course. You will also be able to download the workbook from the resources section of this lesson.

This is an introductory lecture to the CFA Level 1 Exam Topic Area: Economics. A must-watch lecture. Jhan shares a plan to tackle this incredibly voluminous section of the CFA Level 1 Exam. Economics content can be divided into three different segments:

1. Micro Economics

2. Macro Economics (The BIG Five Concepts)

3. International Economics

Watch and Learn:

• Aggregate Demand Curve

• Aggregate Supply Curve

• GDP

• Income Approach to measure GDP

• Expenditure Approach to measure GDP

• Fundamental Relationship between Savings and Investments, Fiscal Balance, Trade Balance

This lecture discusses the factors that can shift the Aggregate Demand (AD) curve.

Watch and learn the following concepts from this lecture:

• Very Short-Run Aggregate Supply Curve

• Short-Run Aggregate Supply Curve

• Long-Run Aggregate Supply Curve

• Aggregate Demand Curve

Jhan in this lecture shares a mnemonic to memorise the four factors that can shift the Long-Run Aggregate Supply Curve (Potential Full Employment GDP): Tender Love Care mean gifting Roses to your GF which transforms into:

Technology

Labour

Capital

Resources

Unemployment is one of the most important leading indicators of an Economy.  A very important concept for the CFA Level 1 Exam. Make sure you understand the difference between the four different types of Unemployment:

1. Seasonal

2. Structural

3. Frictional

4. Cyclical

In this lecture, you will learn the different theoretical explanations for business cycles, including:

1. Neoclassical school

2. Keynesian school

3. The New Keynesian school

4. Monetarist school

5. Austrian school

This lecture highlights another very important concept from Macro-Economics i.e. Output Gap. Remember the output gap can be positive (Inflationary) or Negative (Recessionary).

After watching this lecture, you will be able to understand the following concepts:

• Monetary Policy

• Tools used for Monetary Policy Implementation

Watch and Learn:

• Impact of Expansionary and Contractionary Monetary Policy on Aggregate Demand and Supply

This lecture discusses the following topics:

• Fiscal Policy

• Fiscal Policy Implementation Tools

• Impact of Expansionary and Contractionary Fiscal Policy on Aggregate Demand and Aggregate Supply

This lecture proposes a solution to a situation where the economy has a positive output gap (inflationary). Jhan discusses the use of appropriate monetary and fiscal policy to eliminate this output gap.

Watch this lecture and understand the following very important topics for the CFA Level 1 Exam:

• Inflation

• GDP Deflator

• Consumer Price Index (CPI)

• Producer Price Index (PPI)

• Laspeyres Index

• Paasche Index

The third section of CFA Level 1 Economics starts here. An introductory lecture on currencies, which includes the following topics:

• Price Currency

• Base Currency

• Direct Quote

• Indirect Quote

• Dealer Bid-Ask Spread

Learn how to calculate the percentage appreciation or depreciation of a currency against another currency. Remember, the currency you want to calculate appreciation or depreciation for should always be in the denominator or in other words the base currency.

Jhan discusses an example of calculating the appreciation/depreciation of the ZAR (South African Rand) against the Pound Sterling. Watch and learn the basics.

Learn the X-Rules of calculating the currency cross rate, given three different parities and currencies.

Jhan discusses how to price a currency forward contract with a comprehensive example. Covered Interest Rate Parity (CIRP) and other important concepts are discussed, as well.

This lecture is a continuation of the comprehensive example started in the previous lecture.

This lecture completes the comprehensive example started and discussed in the previous two lectures.

Micro-Economics: The third section of 'Economics' starts from this lecture. Jhan at the start of the lecture says that there are not many pain points in this section and he is going to focus only on 'Market Structures'. The concept of market structures is not only important for the exam but it has a lot of technical points to understand and comprehend.

The lecture discusses the four types of market structures and their characteristics:

1. Monopoly

2. Oligopoly

3. Monopolistic

4. Pure Competition

The demand curves for the following type of market structures are discussed in this lecture:

• Pure Competition

• Monopolistic

The demand curves for the following type of market structures are discussed in this lecture:

• Monopoly

• Oligopoly

Lastly, marginal revenue, marginal cost, price, and average total cost curves are discussed. Using these curves, Jhan explains the concept of Economic Profit.

In this course, all the lessons include a "key takeaways" 1 page PDF worksheet. This is for your handy reference and you can access each of them under the resources of the relevant lesson as you go through the course. These contain the key things you need to remember from what we have taught you so you can revise quickly for your exam. It's important for you to take notes in the lessons but in case you need additional reference info, we have provided it for you in these key takeaways.

PLUS ... we have combined all the individual 1-page worksheets into a single workbook for the entire course, and that's what you get in the resources of this lesson. It simply puts all the lesson worksheets together for you to have in one file. Remember that these worksheets and the combined workbook do not replace your CFA curriculum material which has been provided to you by the institute. This course and all the material is your "Booster Pack" to focus you on the most important topic areas and help you remember them.

Take advantage of everything we have packaged for you in this course - focus on the lessons and GOOD LUCK

Jhan introduces another topic area to be tested in the CFA Level 1 Exam i.e. Corporate Finance which from 2022 onwards will be known as Corporate Issuers. This is a relatively easier topic to tackle but it has strong connections with other areas of the CFA Level 1 Exam. Jhan focuses on the most important concept/formula of this topic area i.e. Weighted Average Cost of Capital (WACC)

To compute WACC, we have to first compute its three components, namely:

1. Cost of Common Equity

2. Cost of Preferred Equity

3. Cost of Debt

In this lecture, Jhan explains in detail the three different methods to calculate the first component i.e. Cost of Common Equity.

To compute WACC, we have to first compute its three components, namely:

1. Cost of Common Equity

2. Cost of Preferred Equity

3. Cost of Debt

In this lecture, Jhan explains how to calculate the cost of preferred equity and the cost of debt.

Introductory lecture on one of the most important topic areas for the CFA Level 1 Exam. The topic area weight for Equity is 10%. The difficulty level is moderate. Mostly theoretical content.

Watch this video lesson to learn how to value a Preferred Stock using the perpetuity formula. Also, learn the formula for Gordon Growth Model (GGM) and how to apply it.

Jhan in this lecture derives the formula for the Justified Price to Earnings Ratio. In this lecture, you will learn how to transform the Gordon Growth Model into a Justified Price to Earnings Ratio.

Watch and learn one of the most important sections and concepts for the CFA Level 1 Exam: Sustainable Growth Rate (SGR) Formula and The Du-Pont Analysis. These two topics can be considered a must-appear section for CFA Level 1 Exam. Understand the use and application of the SGR formula. Also, using the Du-Pont three-factor framework, learn how to break down the Return on Equity (RoE) metric into three different components.

Jhan in this video lecture shares his own way of tackling the five-factor Du-Pont formula. A funny but useful mnemonic will be shared to memorize the five factors of the Du-Pont formula.

Learn in this lecture how to calculate the cost of common equity using three different formulas. One of the formulas i.e. Capital Asset Pricing Model (CAPM) is comes from Portfolio Management Course. Jhan in the latter half of this lecture will discuss CAPM and relate it to Portfolio Management topics like CML, SML, CAL, and Markowitz Efficient Frontier.

Lastly, watch this lecture to learn about Beta and its formula. Also, learn how to transform the Beta formula from CoVariance to the Coefficient of Correlation form.

In this lecture, you are going to learn that:

- Fixed income is a major asset class and it is one of the Big 5 areas for the CFA Level 1 Exam.

- It carries a weight of between 10% to 12% for the CFA level 1 exam i.e. Similar weightage as of the topic area Equity Investments.

- In this course, we are going to focus on more technical (analytical) concepts.

- Please remember that according to the post-exam surveys from the CFA exam candidates, Fixed Income has been rated as one of the most challenging areas for the CFA level 1 exam for the past many years. But don’t worry, we are going to start from the very basics and assume that you absolutely know nothing.

The lecture discusses the defining elements of fixed-income security which include the following:

1. Issuers of Bonds

2. Bond Maturity

3. Par Value

4. Coupon Payments

5. Yield to Maturity

The value of a coupon bond can be calculated by summing the present values of all of the bond’s promised cash  flows. The market discount rate appropriate for discounting a bond’s cashflows is called the bond’s yield-to-maturity (YTM). If we know a bond’s yield-to-maturity, we can calculate its value. Learn more about this concept in this lecture.

You will learn the following concepts from this lecture:

1. Yield to Maturity (YTM) is the discount rate that makes the present value of a bond’s cashflows equal to its price.

2. If a bond’s coupon rate is greater than its YTM, its price will be at a premium to par value. If a bond’s coupon rate is less than its YTM, its price will be at a discount to par value.