Finance Exam Prep

Finance Exam Prep

By Ran Chen, EA, CFP®BusinessEducationCoursesCareers
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Finance Exam Prep episodes

  • [CFA Level I] 16, Arithmetic and Geometric Returns Tell Different Stories
    This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams.
    In this episode you will learn:
    - How arithmetic mean return measures simple average periodic performance without compounding.
    - How geometric mean return measures actual compound growth rate and terminal wealth across multiple periods.
    - Why return variance creates volatility drag, causing geometric returns to sit below arithmetic returns.
    - How to calculate two-period returns using percentage multipliers and square roots.
    - When to apply arithmetic mean for single-period forward forecasts versus geometric mean for historical multi-period analysis.
    For independent study support and additional practice, check out https://open-exam-prep.com/practice/cfa-level1 and https://www.youtube.com/@Open-exam-prep .
    Sources checked: October 12, 2026
    - https://www.cfainstitute.org/programs/cfa-program/candidate-resources/level-i-exam
    - https://www.cfainstitute.org/sites/default/files/2027levelitopicoutline_online.pdf
    4 min
  • [CFA Level I] 15, Holding-Period Returns and the Risk Premium
    This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams.
    In this episode you will learn:
    - How to calculate holding-period return using periodic income and capital appreciation.
    - The distinction between dividend yield and capital gain yield in total return.
    - How to compute realized excess return relative to a nominal risk-free benchmark.
    - The difference between ex ante required risk premiums and ex post realized excess returns.
    - A simple decision rule and mnemonic for holding-period calculations.
    This independent study resource is designed to supplement your study schedule for the CFA Level I exam. Access practice materials at https://open-exam-prep.com/practice/cfa-level1 and watch video explanations at https://www.youtube.com/@Open-exam-prep .
    Sources checked: October 12, 2026
    https://www.cfainstitute.org/programs/cfa-program/candidate-resources/level-i-exam
    https://www.cfainstitute.org/sites/default/files/2027levelitopicoutline_online.pdf
    5 min
  • [CFA Level I] 14, Candidate Conduct and Correct Use of the CFA Designation
    This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams.
    In this episode you will learn:
    - Prohibitions under Standard VII(A) regarding disclosing confidential exam questions or compromising program integrity.
    - Requirements for using the post-nominal CFA mark, including passing all exam levels and maintaining active membership.
    - Rules governing candidate status representation on resumes and social media without using partial designations.
    - Restrictions on promotional claims to prevent guaranteeing superior investment performance or analytical ability.
    - How membership lapses affect the right to reference the charter and how to apply the PURE decision framework.
    This independent preparation resource is designed to supplement your study journey: https://open-exam-prep.com/practice/cfa-level1 and https://www.youtube.com/@Open-exam-prep .
    Sources checked: October 12, 2026
    - https://www.cfainstitute.org/standards/professionals/code-ethics-standards
    - https://www.cfainstitute.org/programs/cfa-program/candidate-resources/level-i-exam
    5 min
  • [CFA Level I] 13, Priority of Transactions and Referral Fees
    This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams.
    In this episode you will learn:
    * How Standard VI(B) establishes trade priority for clients, employers, and personal accounts.
    * What constitutes beneficial ownership and personal pecuniary interest under CFA Institute standards.
    * Best practices for firm compliance policies including pre-clearance, restricted lists, and blackout periods.
    * Mandatory upfront disclosure requirements for referral fees and consideration under Standard VI(C).
    * How to identify common traps regarding non-cash compensation and referral agreement timing.
    For independent exam preparation resources, visit https://open-exam-prep.com/practice/cfa-level1 and watch video tutorials at https://www.youtube.com/@Open-exam-prep .
    Sources checked: October 12, 2026
    https://www.cfainstitute.org/standards/professionals/code-ethics-standards
    https://www.cfainstitute.org/standards/professionals/code-ethics-standards/standards-of-practice-vi-c
    5 min
  • [CFA Level I] 12, Avoiding or Disclosing Conflicts of Interest
    This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams.
    In this episode you will learn:
    - Core requirements of CFA Standard VI(A) regarding disclosure of potential and actual conflicts of interest.
    - Why conflict disclosures must be prominent, delivered in plain language, and provided to clients, prospects, and employers.
    - Common conflict scenarios involving personal stock ownership, corporate board service, and sales incentives.
    - Why disclosure provides transparency but does not permit biased analysis or unsuitable recommendations.
    - The practical Avoid, Disclose, Maintain decision rule for resolving conflict situations on the CFA exam.
    This independent study resource helps candidates prepare for the CFA Level I exam. Practice questions and study tools are available at https://open-exam-prep.com/practice/cfa-level1 and video content is published on https://www.youtube.com/@Open-exam-prep .
    Sources checked: October 12, 2026
    https://www.cfainstitute.org/standards/professionals/code-ethics-standards
    https://www.cfainstitute.org/programs/cfa-program/candidate-resources/level-i-exam
    5 min
  • [CFA Level I] 11, Communicating Risks and Keeping Research Records
    This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams.
    In this episode you will learn:
    • How to distinguish historical facts from analytical opinions in research communications.
    • The obligation to disclose investment process changes and material risk factors to clients.
    • Key record retention rules and the CFA Institute seven-year recommendation when policies are silent.
    • Why research files and analytical models created during employment remain firm property.
    • An exam-relevant trap regarding departing analysts taking proprietary work product.
    This independent study resource helps candidates prepare for the CFA Level I exam. Practice tools are available at https://open-exam-prep.com/practice/cfa-level1 and video tutorials at https://www.youtube.com/@Open-exam-prep .
    Sources checked: October 12, 2026
    • https://www.cfainstitute.org/standards/professionals/code-ethics-standards
    5 min
  • [CFA Level I] 10, Diligence and Reasonable Basis for Research
    This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams.
    In this episode you will learn:
    - Core requirements of Standard V(A) Diligence and Reasonable Basis
    - Why a reasonable basis does not require absolute certainty in investment outcomes
    - Essential steps for evaluating and vetting third-party research reports
    - How to address testing data, quantitative models, and overfitting risks
    - A simple decision rule and exam trap analysis for research diligence
    This independent study resource helps candidates prepare for the CFA Level I exam. Access more tools at https://open-exam-prep.com/practice/cfa-level1 and https://www.youtube.com/@Open-exam-prep .
    Sources checked: October 12, 2026
    https://www.cfainstitute.org/sites/default/files/2027levelitopicoutline_online.pdf
    https://www.cfainstitute.org/standards/professionals/code-ethics-standards
    5 min
  • [CFA Level I] 9, Loyalty to Employers and Additional Compensation
    This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams.
    In this episode you will learn:
    - Key requirements of Standard IV(A) Loyalty regarding employer benefits and duty of care.
    - Rules governing outside independent practice and competitive work for compensation.
    - Standards under IV(B) Additional Compensation Arrangements for client bonuses and gifts.
    - The distinction between permissible preparations to leave a firm and unethical client solicitation or unauthorized record removal.
    - A straightforward decision rule for handling competitive side work and third-party compensation.
    This independent audio study lesson complements your CFA study plan. Practice questions and video explanations are available at https://open-exam-prep.com/practice/cfa-level1 and https://www.youtube.com/@Open-exam-prep .
    Sources checked: October 12, 2026
    https://www.cfainstitute.org/sites/default/files/2027levelitopicoutline_online.pdf
    https://www.cfainstitute.org/standards/professionals/code-ethics-standards
    5 min
  • [CFA Level I] 8, Performance Presentation Without Cherry-Picking
    This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams.
    In this episode you will learn:
    * Requirements for fair, accurate, and complete performance presentation under Standard III(D) in the 2027 CFA Level I curriculum.
    * Why hiding unsuccessful terminated accounts in an aggregate strategy record creates survivorship bias.
    * Transparency considerations including fee disclosures, benchmark consistency, and summary reporting.
    * How Standard III(D) performance presentation principles relate to GIPS firmwide compliance.
    * Essential traps and decision rules for evaluating historical return disclosures.
    This independent prep content is designed to supplement your study plan. Access practice questions at https://open-exam-prep.com/practice/cfa-level1 and video tutorials at https://www.youtube.com/@Open-exam-prep .
    Sources checked: October 12, 2026
    https://www.cfainstitute.org/standards/professionals/code-ethics-standards/standards-of-practice-iii-d
    https://www.gipsstandards.org/standards/gips-standards-for-firms
    5 min
  • [CFA Level I] 7, Suitability and the Client Investment Mandate
    This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams.
    In this episode you will learn:
    - Core requirements of CFA Standard III(C) on suitability and client Investment Policy Statements.
    - How Standard III(C) mandates regular updates while guidance recommends annual review.
    - Evaluating suitability within a whole-portfolio context versus pooled fund mandates.
    - Compliance procedures for handling minor versus material unsolicited trade requests.
    - Practical decision steps when a client insists on a material trade but refuses an IPS update.
    This independent preparation resource helps candidates master CFA Level I concepts. Practice questions and AI tools are available at https://open-exam-prep.com/practice/cfa-level1 and video tutorials are available at https://www.youtube.com/@Open-exam-prep .
    Sources checked: October 12, 2026
    https://www.cfainstitute.org/standards/professionals/code-ethics-standards
    https://www.cfainstitute.org/programs/cfa-program/candidate-resources/level-i-exam
    5 min

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