File Name: cisi introduction to securities and investment 2015.zip
- Chartered Institute for Securities & Investment
- Cisi Studies Speciment And Reports
- Mondo Visione - Worldwide Financial Markets Intelligence
It aims to set standards of conduct and ethics for participants in the securities , financial planning and investments sector, and to provide qualifications and professional development for such financial services practitioners. It changed its name to the Securities and Investment Institute in November
Chartered Institute for Securities & Investment
While every effort has been made to ensure its accuracy, no responsibility for loss occasioned to any person acting or refraining from action as a result of any material in this publication can be accepted by the publisher or authors. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, or transmitted, in any form or by any means, electronic, mechanical, photocopying, recording or otherwise without the prior permission of the copyright owner.
Warning: any unauthorised act in relation to all or any part of the material in this publication may result in both a civil claim for damages and criminal prosecution. A learning map, which contains the full syllabus, appears at the end of this manual.
The syllabus can also be viewed on cisi. Please note that the examination is based upon the syllabus. Candidates are reminded to check the Candidate Update area details cisi. The questions contained in this manual are designed as an aid to revision of different areas of the syllabus and to help you consolidate your learning chapter by chapter.
They should not be seen as a mock examination or necessarily indicative of the level of the questions in the corresponding examination. Learning manual version: CISI examinations are used extensively by firms to meet the requirements of government regulators. CISI learning manuals are normally revised every year by experts who themselves work in the industry and also by our Accredited Training partners, who offer training and elearning to help prepare candidates for the examinations.
Information for candidates is also posted on a special area of our website: cisi. This learning manual not only provides a thorough preparation for the CISI examination it refers to, it is also a valuable desktop reference for practitioners, and studying from it counts towards your Continuing Professional Development. CISI examination candidates are automatically registered, without additional charge, as student members for one year should they not be members of the CISI already , and this enables you to use a vast range of online resources, including CISI TV, free of any additional charge.
The CISI has more than 40, members, and nearly half of them have already completed relevant qualifications and transferred to a core membership grade. You will find more information about the next steps for this at the end of this manual.
With best wishes for your studies. The Financial Services Industry. The Economic Environment. The workbook commences with an introduction to the financial services industry and examines the role of the industry and the main participants that are seen in financial centres around the globe.
Financial Assets and Markets. An appreciation of some key aspects of macro economics is essential to an understanding of the environment in which investment services are delivered. This chapter looks at some key measures of economic data and the role of central banks in management of the economy. This chapter provides an overview of the main types of assets and then looks in some detail at the range of financial markets that exist, including the money markets, property and foreign exchange.
The workbook then moves on to examine some of the main asset classes in detail, starting with equities. It begins with the features, benefits and risks of owning shares or stocks, looks at corporate actions and some of the main world stock markets and indices, and outlines the methods by which shares are traded and settled. A review of bonds follows which includes looking at the key characteristics and types of government and corporate bonds and the risks and returns associated with them.
Next there is a brief review of derivatives to provide an understanding of the key features of futures, options and swaps and the terminology associated with them.
Investment Funds. The chapter looks at open-ended and closed-ended funds, exchange-traded funds and hedge funds, and how they are traded. Taxation, Investment Wrappers and Trusts. An understanding of regulation is essential in todays investment industry.
This chapter provides an overview of international regulation and looks at specific areas such as money laundering, insider trading and bribery as well as a section on professional integrity and ethics. Having reviewed the essential regulations covering provision of financial services, the workbook then moves on to look at the main types of investment wrappers seen in the UK, including ISAs and pensions, and also looks at the principles of taxation and the use of trusts.
Other Retail Financial Products. The workbook concludes with a review of the other types of financial products, including loans, mortgages, and protection products including life assurance.
Glossary and Abbreviations. Multiple Choice Questions. Syllabus Learning Map. What next? See the back of this book for details of CISI membership. Need more support to pass your exam? See our section on Accredited Training Providers.
Want to leave feedback? Please email your comments to learningresources cisi. Introduction The financial services industry in developed countries is a major contributor to the economy. In the UK, for example, the activities of the firms located in and around the City of London provide considerable employment, as well as overseas earnings for the economy. The financial services industry provides the link between organisations needing capital and those with capital available for investment.
For example, an organisation needing capital might be a growing company, and the capital might be provided by individuals saving for their retirement in a pension fund. It is the financial services industry that channels money invested to those organisations that need it, and provides transmission, payment, advisory and management services.
Stock markets and investment instruments are not unique to one country, and there is increasing similarity in the instruments that are traded on all world markets and in the way that trading and settlement systems are developing. Until recently, the world economy grew rapidly and became increasingly integrated and interdependent as trade and investment flows rose.
The subsequent credit crisis has further emphasised the global nature of the financial services industry and shows how a crisis in one country, such as the sub-prime crisis in the US or the collapse of Lehman Brothers, can have an impact across world markets.
The European sovereign debt crisis again showed this is still the case and is a major concern for all governments, as it has the potential to destabilise economies beyond the eurozone.
With this background, therefore, it is important to understand the core role that the financial services industry undertakes within the economy and some of the key features of the global financial services sector. This will be considered in the following sections. Know the function of and differences between retail and professional business and who the main customers are in each case: retail clients and professional clients. Within the financial services industry there are two distinct areas, namely the wholesale or professional sector also known as the institutional sector and the retail sector.
By contrast, the retail sector focuses on services provided to personal customers, including: retail banking the traditional range of current accounts, deposit accounts, lending and credit. Equity markets are the best known financial markets and facilitate the trading of shares in quoted companies.
The figures for the end of mean that it has reached the level last seen during the first part of before the Lehman Brothers bankruptcy. The largest stock exchanges in the world are in the US. The same report shows that Asian exchanges also have an important share of world trading. The economic growth of China and India is also reflected in the domestic market capitalisation of their exchanges, with the Hong Kong and the Shanghai exchanges ranked sixth and seventh. Rivals to traditional stock exchanges have also arisen with the development of technology and communication networks known as multilateral trading facilities MTFs.
These are systems that bring together multiple parties that are interested in buying and selling financial instruments including shares, bonds and derivatives. These systems are also known as crossing networks or matching engines that are operated by an investment firm or another market operator. We will look in more detail at equities and equity markets in Chapter 4. Although less well known than equity markets, bond markets are larger both in size and value of trading.
However, the volume of bond trading is lower, as most trades tend to be very large indeed when compared to equity market trades. The instruments traded range from domestic bonds issued by companies and governments, to international bonds issued by companies, by governments and by supranational agencies such as the World Bank.
The US has the largest bond market, but trading in international bonds is predominantly undertaken in European markets. The amount of outstanding bonds increased significantly following the financial crisis amid growing concerns about the ability of some countries to continue to finance and service their debt. This has been most notable with the downgrading of the US and European sovereign debt.
In some euro area countries, sovereign debt had increased sharply, leading to serious concerns about their governments ability to repay debt. The crisis was originally centred in Greece, whose government debt was downgraded by the international credit rating agencies to junk status see Chapter 5, Section 5.
Other countries with high budget deficits, such as Portugal, Ireland, Italy and Spain, also saw downgrades. Worry about this spreading to other eurozone countries required a comprehensive rescue package from the European Union EU and the International Monetary Fund IMF worth trillions of dollars aimed at attempting to restore financial stability across Europe.
We will look in more detail at bonds in Chapter 5. World Bond Market , The rate at which one currency is exchanged for another is set by supply and demand and by the strength of one currency in relation to another. For example, if there is strong demand from Japanese investors for US assets, such as property or bonds or shares, the US dollar will rise in value. Foreign exchange Forex or FX rates tend to reflect: prospects for growth; and comparative interest rates.
As a result, there is an active foreign exchange market that enables companies to deal with their cash inflows and outflows denominated in overseas currencies. The market is provided by the major banks, who each provide rates of exchange at which they are willing to buy or sell currencies. Historically, most foreign exchange deals were arranged over the telephone; now, however, electronic trading is becoming increasingly prevalent. The volume of foreign exchange trading overall has been on a long-term upward trend, and since has been at or near record levels as the global economy recovered and risk appetite returned to the markets.
Trading has grown further with the eurozone sovereign debt crisis and turbulence in financial markets. Instead, FX trading is distributed among major financial centres. The Bank for International Settlements BIS releases figures on the composition of the foreign exchange market every three years.
The latest report for shows that market activity has become ever more concentrated in a handful of global centres. As you can see in the chart below, FX transactions are concentrated in five countries, with the UK as the main global centre. Hong Kong 4. Derivatives markets trade a range of complex products based on underlying instruments that include currencies, indices, interest rates, equities, commodities and credit risk.
Derivatives based on these underlying elements are available on both the exchange-traded market and the over-the-counter OTC market see Chapter 6, Section 1. Based on the value of the notional amounts outstanding, the OTC derivatives markets worldwide are about four times the size of stock quoted on stock exchanges. Interest rate derivatives contracts account for three-quarters of outstanding derivatives contracts, mostly through interest rate swaps.
Cisi Studies Speciment And Reports
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Report Download. It links aspects from structured in 3 units, as shown in the diagram below. It is recommended professional qualification. The unit is broken Portfolio Construction Theory down into the following syllabus areas:The theory of portfolio constructionPortfolio Construction Theory and behaviour Taxation and TrustsApplied Wealth Management Applied Wealth Management reviews practical Practical portfolio construction and management portfolio construction and management and is broken down into the following syllabus areas:The Advisor-Client Relationship NB. We recommend that you only book and sit for one unit ata time.
Welcome to the Chartered Institute for Securities & Investment's International The workbook commences with an introduction to the financial services industry and In , Kenya reintroduced capital gains tax (CGT) at a rate of 5% on the.
Mondo Visione - Worldwide Financial Markets Intelligence
While every effort has been made to ensure its accuracy, no responsibility for loss occasioned to any person acting or refraining from action as a result of any material in this publication can be accepted by the publisher or authors. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, or transmitted, in any form or by any means, electronic, mechanical, photocopying, recording or otherwise without the prior permission of the copyright owner. Warning: any unauthorised act in relation to all or any part of the material in this publication may result in both a civil claim for damages and criminal prosecution. A learning map, which contains the full syllabus, appears at the end of this manual.
Edition 1, July 2015 - Chartered Institute For Securities ...
Such a process involves photography, note taking and reports, sketches, measurements and recording names of people in charge of collecting evidence, and the dates and times those people were present. In many cases, poor scene documentation can lead to inadmissible evidence in a court of law, or missed evidence that may allow a guilty party. Looking for the definition of CISI? Chartered Institute for Securities Investment is one option -- get in to view more The Web s largest and most authoritative acronyms and abbreviations resource. Subjects which will complement this qualification are Mathematics, Economics, and Business Studies. The Certificate is regulated by Ofqual as a level.
Date: New dates to be published soon. The Chartered Institute of Securities and Investment CISI Introduction to Securities and Investment is a stand-alone qualification as well as the introductory unit of the Investment Operations Certificate IOC programme, this exam provides an overview of all areas of investment to new entrants to the financial services industry. Many people just like you turn to the markets to help buy a home, send children to college, or build a retirement nest egg.
Report Download. It links aspects from structured in 3 units, as shown in the diagram below. It is recommended professional qualification.