{"id":10798,"date":"2026-09-22T06:00:00","date_gmt":"2026-09-21T21:00:00","guid":{"rendered":"https:\/\/triumphmind.com\/cfa\/2026\/09\/22\/cfa-l1-alt-lm4\/"},"modified":"2026-09-22T07:04:15","modified_gmt":"2026-09-21T22:04:15","slug":"cfa-l1-alt-lm4","status":"publish","type":"post","link":"https:\/\/triumphmind.com\/cfa\/2026\/09\/22\/cfa-l1-alt-lm4\/","title":{"rendered":"\u3010CFA\u00ae\ufe0e L1 Alternatives LM4\u3011Real Estate and Infrastructure \u3092\u8981\u70b9\u89e3\u8aac\uff5c\u4e0d\u52d5\u7523\u30fbREIT\u30fb\u30a4\u30f3\u30d5\u30e9\u30fb\u30b0\u30ea\u30fc\u30f3\u30d5\u30a3\u30fc\u30eb\u30c9\u3068\u30d6\u30e9\u30a6\u30f3\u30d5\u30a3\u30fc\u30eb\u30c9"},"content":{"rendered":"<style>\n.cfalm-los{counter-reset:los;list-style:none;padding:0!important;margin:1em 0!important}\n.cfalm-los li{border:1px solid #d5d9e3;border-left:4px solid #172152;border-radius:4px;padding:.8em 1em!important;margin:0 0 .8em!important;background:#fff}\n.cfalm-los li::before{display:none!important;content:none!important}\n.cfalm-los .ja{display:block;font-weight:bold;color:#172152;line-height:1.6}\n.cfalm-los .en{display:block;font-size:.85em;color:#667;margin-top:.3em;line-height:1.5;word-break:normal!important;overflow-wrap:anywhere}\n.cfalm-sum{background:#f6f7fb;border-radius:6px;padding:1em 1.2em!important;margin:1em 0!important;list-style:none!important}\n.cfalm-sum li{position:relative;margin:.4em 0!important;padding:0 0 0 1.1em!important;line-height:1.7;list-style:none!important}.cfalm-sum li::before{content:\"\"!important;display:block!important;position:absolute!important;left:0!important;top:.7em!important;width:6px!important;height:6px!important;border-radius:50%!important;background:#172152!important;border:none!important;transform:none!important}\n.cfalm-f{background:#f6f7fb;border-left:4px solid #172152;padding:.7em 1em;margin:.8em 0;font-family:\"Menlo\",\"Consolas\",monospace;font-size:.95em;overflow-x:auto}\n.cfalm-nav{background:#f6f7fb;padding:1em 1.2em;border-radius:6px;margin:1em 0;word-break:normal;overflow-wrap:anywhere}\n<\/style>\n<div class=\"box05\">\n<p>Learning Module 4\u300cReal Estate and Infrastructure\uff08\u4e0d\u52d5\u7523\u3068\u30a4\u30f3\u30d5\u30e9\uff09\u300d\u306f\u3001\u4e0d\u52d5\u7523\u306e\u7279\u5fb4\u3068\u6295\u8cc7\u7279\u6027\u3001\u30a4\u30f3\u30d5\u30e9\u8cc7\u7523\u306e\u7279\u5fb4\u3068\u6295\u8cc7\u7279\u6027\u3001\u305d\u308c\u305e\u308c\u306e\u6295\u8cc7\u5f62\u614b\u3068\u30ea\u30b9\u30af\u30fb\u30ea\u30bf\u30fc\u30f3\u30fb\u5206\u6563\u52b9\u679c\u3092\u6271\u3046\u5358\u5143\u3067\u3059\u3002<\/p>\n<p>\u672c\u8a18\u4e8b\u3067\u306f\u3001\u6700\u65b0\u7248\u30ab\u30ea\u30ad\u30e5\u30e9\u30e0\u306eLOS\uff08Learning Outcome Statement\uff09\u3068\u3001\u3053\u306e\u5358\u5143\u306e\u91cd\u8981\u8ad6\u70b9\u3092\u65e5\u672c\u8a9e\u3067\u6574\u7406\u3057\u307e\u3057\u305f\u3002<\/p>\n<\/div>\n<h2>LM4\u306eLOS\uff08\u5b66\u7fd2\u76ee\u6a19\uff09<\/h2>\n<p>LOS\u306f\u3001\u3053\u306e\u5358\u5143\u3067\u300c\u3067\u304d\u308b\u3088\u3046\u306b\u306a\u308b\u3079\u304d\u3053\u3068\u300d\u3068\u3057\u3066\u793a\u3055\u308c\u3066\u3044\u308b\u5b66\u7fd2\u76ee\u6a19\u3067\u3059\u3002LM4\u306b\u306f4\u3064\u306eLOS\u304c\u3042\u308a\u307e\u3059\u3002<\/p>\n<ol class=\"cfalm-los\">\n<li><span class=\"ja\">LOS 1\uff1a\u4e0d\u52d5\u7523\u306e\u7279\u5fb4\u3068\u6027\u8cea\u3092\u8aac\u660e\u3059\u308b<\/span><span class=\"en\">explain features and characteristics of real estate<\/span><\/li>\n<li><span class=\"ja\">LOS 2\uff1a\u4e0d\u52d5\u7523\u6295\u8cc7\u306e\u6295\u8cc7\u7279\u6027\u3092\u8aac\u660e\u3059\u308b<\/span><span class=\"en\">explain the investment characteristics of real estate investments<\/span><\/li>\n<li><span class=\"ja\">LOS 3\uff1a\u30a4\u30f3\u30d5\u30e9\u306e\u7279\u5fb4\u3068\u6027\u8cea\u3092\u8aac\u660e\u3059\u308b<\/span><span class=\"en\">explain features and characteristics of infrastructure<\/span><\/li>\n<li><span class=\"ja\">LOS 4\uff1a\u30a4\u30f3\u30d5\u30e9\u6295\u8cc7\u306e\u6295\u8cc7\u7279\u6027\u3092\u8aac\u660e\u3059\u308b<\/span><span class=\"en\">explain the investment characteristics of infrastructure investments<\/span><\/li>\n<\/ol>\n<h2>LM4\u306e\u307e\u3068\u3081<\/h2>\n<p>\u3053\u306e\u5358\u5143\u306e\u8981\u70b9\u3092\u307e\u3068\u3081\u308b\u3068\u3001\u6b21\u306e\u3068\u304a\u308a\u3067\u3059\u3002<\/p>\n<ul class=\"cfalm-sum\">\n<li>\u4e0d\u52d5\u7523\u306f\u4f4f\u5b85\u3068\u5546\u696d\u306e2\u5927\u30bb\u30af\u30bf\u30fc\u304b\u3089\u6210\u308a\u3001\u4f4f\u5b85\u304c\u4e16\u754c\u306e\u5e02\u5834\u306e75\uff05\u3092\u5360\u3081\u308b\u6700\u5927\u306e\u30bb\u30af\u30bf\u30fc\u3002\u5546\u696d\u4e0d\u52d5\u7523\u306b\u306f\u30aa\u30d5\u30a3\u30b9\u3001\u5546\u696d\u65bd\u8a2d\u3001\u5009\u5eab\u306a\u3069\u304c\u542b\u307e\u308c\u308b<\/li>\n<li>\u4e0d\u52d5\u7523\u306b\u306f\u3001\u7570\u8cea\u6027\uff08\u540c\u3058\u7269\u4ef6\u306f2\u3064\u3068\u306a\u3044\uff09\u3001\u5e02\u5834\u306e\u5206\u65ad\u3001\u4fa1\u683c\u767a\u898b\u306e\u96e3\u3057\u3055\u3001\u9ad8\u30b3\u30b9\u30c8\u3067\u6642\u9593\u306e\u304b\u304b\u308b\u53d6\u5f15\u3068\u3044\u3063\u305f\u72ec\u7279\u306e\u7279\u5fb4\u304c\u3042\u308b<\/li>\n<li>\u4e0d\u52d5\u7523\u6295\u8cc7\u306f\u76f4\u63a5\u30fb\u9593\u63a5\u3001\u516c\u958b\u5e02\u5834\uff08REIT\u306a\u3069\uff09\u30fb\u975e\u516c\u958b\u306e\u53d6\u5f15\u3001\u30a8\u30af\u30a4\u30c6\u30a3\u30fb\u30c7\u30c3\u30c8\u306e\u5f62\u614b\u3092\u53d6\u308a\u5f97\u308b<\/li>\n<li>\u4e0d\u52d5\u7523\u306e\u30ea\u30bf\u30fc\u30f3\u306f\u30a4\u30f3\u30ab\u30e0\u3068\u5024\u4e0a\u304c\u308a\u304b\u3089\u6210\u308a\u3001\u5546\u696d\u4e0d\u52d5\u7523\u6295\u8cc7\u5bb6\u306e\u30ea\u30bf\u30fc\u30f3\u306e\u534a\u5206\u8d85\u306f\u30a4\u30f3\u30ab\u30e0\u306b\u3088\u308b\u3002\u666f\u6c17\u5faa\u74b0\u3092\u901a\u3058\u3066\u3001\u30a4\u30f3\u30ab\u30e0\u306f\u5024\u4e0a\u304c\u308a\u3088\u308a\u5b89\u5b9a\u3057\u305f\u30ea\u30bf\u30fc\u30f3\u306e\u6e90\u6cc9<\/li>\n<li>\u4e0d\u52d5\u7523\u306f\u3001\u8cc3\u8cb8\u501f\u5951\u7d04\u306b\u3088\u308b\u50b5\u5238\u306e\u3088\u3046\u306a\u4f4e\u30ea\u30b9\u30af\u306e\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u306b\u3082\u3001\u958b\u767a\u3084\u5024\u4e0a\u304c\u308a\u306b\u3088\u308b\u682a\u5f0f\u306e\u3088\u3046\u306a\u9ad8\u30ea\u30b9\u30af\u306e\u30ea\u30bf\u30fc\u30f3\u306b\u3082\u306a\u308a\u5f97\u308b\u3002\u5206\u6563\u52b9\u679c\u304c\u3042\u308b\u4e00\u65b9\u3001\u6025\u843d\u5c40\u9762\u3067\u306f\u30a8\u30af\u30a4\u30c6\u30a3REIT\u3068\u5e02\u5834\u6307\u6a19\u306e\u76f8\u95a2\u304c\u4e0a\u6607<\/li>\n<li>\u30a4\u30f3\u30d5\u30e9\u306f\u8cc7\u672c\u96c6\u7d04\u7684\u3067\u9577\u671f\u306b\u308f\u305f\u308a\u3001\u516c\u5171\u306e\u305f\u3081\u306e\u4e0d\u53ef\u6b20\u306a\u30b5\u30fc\u30d3\u30b9\u3092\u63d0\u4f9b\u3059\u308b\u8cc7\u7523\u3002\u7d4c\u6e08\u30a4\u30f3\u30d5\u30e9\uff08\u4ea4\u901a\u30fb\u516c\u76ca\u30fb\u30a8\u30cd\u30eb\u30ae\u30fc\uff09\u3068\u793e\u4f1a\u30a4\u30f3\u30d5\u30e9\uff08\u6559\u80b2\u306a\u3069\uff09\u306b\u5206\u985e\u3055\u308c\u3001\u958b\u767a\u6bb5\u968e\u306b\u3088\u308a\u30b0\u30ea\u30fc\u30f3\u30d5\u30a3\u30fc\u30eb\u30c9\u3001\u30bb\u30ab\u30f3\u30c0\u30ea\u30fc\u30fb\u30b9\u30c6\u30fc\u30b8\u3001\u30d6\u30e9\u30a6\u30f3\u30d5\u30a3\u30fc\u30eb\u30c9\u306b\u5206\u3051\u3089\u308c\u308b<\/li>\n<li>\u30a4\u30f3\u30d5\u30e9\u306e\u591a\u304f\u306f\u653f\u5e9c\u304c\u8cc7\u91d1\u8abf\u9054\u30fb\u6240\u6709\u30fb\u904b\u55b6\u3059\u308b\u304c\u3001\u5b98\u6c11\u9023\u643a\uff08PPP\uff09\u306b\u3088\u308b\u6c11\u9593\u8cc7\u91d1\u306e\u6d3b\u7528\u304c\u5897\u52a0\u3002\u30b0\u30ea\u30fc\u30f3\u30d5\u30a3\u30fc\u30eb\u30c9\u306f\u671f\u5f85\u30ea\u30bf\u30fc\u30f3\u3068\u30ea\u30b9\u30af\u304c\u6700\u3082\u9ad8\u304f\u3001\u30bb\u30ab\u30f3\u30c0\u30ea\u30fc\u30fb\u30b9\u30c6\u30fc\u30b8\u306f\u6700\u3082\u4f4e\u3044<\/li>\n<li>\u30a4\u30f3\u30d5\u30e9\u6295\u8cc7\u5bb6\u306f\u4e3b\u306b\u3001\u7d4c\u6e08\u6210\u9577\u3084\u30a4\u30f3\u30d5\u30ec\u306b\u9023\u52d5\u3059\u308b\u5b89\u5b9a\u3057\u305f\u9577\u671f\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u3092\u671f\u5f85\u3057\u3001\u30a4\u30f3\u30ab\u30e0\u3001\u5206\u6563\u52b9\u679c\u3001GDP\u6210\u9577\u306e\u5909\u5316\u3084\u30a4\u30f3\u30d5\u30ec\u3078\u306e\u3042\u308b\u7a0b\u5ea6\u306e\u4fdd\u8b77\u3092\u3082\u305f\u3089\u3059<\/li>\n<\/ul>\n<p>\u4ee5\u4e0b\u3001LOS\u3054\u3068\u306b\u91cd\u8981\u8ad6\u70b9\u3092\u6574\u7406\u3057\u307e\u3059\u3002<\/p>\n<h3>LOS 1\uff1a\u4e0d\u52d5\u7523\u306e\u7279\u5fb4\u3068\u5206\u985e<\/h3>\n<p>\u4e0d\u52d5\u7523\u306f<strong>\u4f4f\u5b85<\/strong>\u3068<strong>\u5546\u696d<\/strong>\uff08\u30aa\u30d5\u30a3\u30b9\u3001\u5546\u696d\u65bd\u8a2d\u3001\u7269\u6d41\u65bd\u8a2d\u306a\u3069\uff09\u306b\u5927\u5225\u3055\u308c\u307e\u3059\u3002\u7269\u4ef6\u3054\u3068\u306b\u7570\u306a\u308b<strong>\u7570\u8cea\u6027<\/strong>\u3001\u5e02\u5834\u306e\u5206\u65ad\u3001\u4fa1\u683c\u767a\u898b\u306e\u96e3\u3057\u3055\u3001\u53d6\u5f15\u30b3\u30b9\u30c8\u306e\u9ad8\u3055\u3068\u3044\u3063\u305f\u7279\u5fb4\u3092\u6301\u3061\u307e\u3059\u3002<\/p>\n<ul>\n<li>\u4f4f\u5b85\u4e0d\u52d5\u7523\u304c\u4e16\u754c\u306e\u4e0d\u52d5\u7523\u5e02\u5834\u306e\u6700\u5927\u30bb\u30af\u30bf\u30fc\uff0875\uff05\uff09<\/li>\n<li>\u5546\u696d\u4e0d\u52d5\u7523\uff1a\u30aa\u30d5\u30a3\u30b9\u3001\u5c0f\u58f2\u30fb\u5546\u696d\u65bd\u8a2d\u3001\u5009\u5eab\u30fb\u7269\u6d41\u65bd\u8a2d\u306a\u3069<\/li>\n<li>\u7570\u8cea\u6027\uff1a\u540c\u4e00\u306e\u7269\u4ef6\u306f\u5b58\u5728\u3057\u306a\u3044<\/li>\n<li>\u4fa1\u683c\u767a\u898b\u304c\u96e3\u3057\u304f\u3001\u9451\u5b9a\u8a55\u4fa1\u306b\u983c\u308b<\/li>\n<li>\u53d6\u5f15\u306b\u8cbb\u7528\u3068\u6642\u9593\u304c\u304b\u304b\u308b\u3001\u6d41\u52d5\u6027\u304c\u4f4e\u3044<\/li>\n<\/ul>\n<h3>LOS 2\uff1a\u4e0d\u52d5\u7523\u6295\u8cc7\u306e\u6295\u8cc7\u7279\u6027<\/h3>\n<p>\u4e0d\u52d5\u7523\u6295\u8cc7\u306f<strong>\u76f4\u63a5\uff0f\u9593\u63a5<\/strong>\u3001<strong>\u516c\u958b\uff0f\u975e\u516c\u958b<\/strong>\u3001<strong>\u30a8\u30af\u30a4\u30c6\u30a3\uff0f\u30c7\u30c3\u30c8<\/strong>\u306e\u7d44\u307f\u5408\u308f\u305b\u3067\u5206\u985e\u3067\u304d\u3001\u4ee3\u8868\u7684\u306a\u516c\u958b\u30fb\u9593\u63a5\u306e\u30a8\u30af\u30a4\u30c6\u30a3\u6295\u8cc7\u304c<strong>REIT<\/strong>\u3067\u3059\u3002\u30ea\u30bf\u30fc\u30f3\u306f\u30a4\u30f3\u30ab\u30e0\u3068\u5024\u4e0a\u304c\u308a\u304b\u3089\u6210\u308a\u3001\u8cc3\u8cb8\u53ce\u5165\u306b\u3088\u308b\u5b89\u5b9a\u3057\u305f\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u3068\u5206\u6563\u52b9\u679c\u304c\u671f\u5f85\u3055\u308c\u307e\u3059\u3002<\/p>\n<ul>\n<li>\u516c\u958b\u30a8\u30af\u30a4\u30c6\u30a3\uff1aREIT\u3001\u4e0d\u52d5\u7523\u4f1a\u793e\u306e\u682a\u5f0f\u3001\u516c\u958b\u30c7\u30c3\u30c8\uff1aMBS<\/li>\n<li>\u975e\u516c\u958b\u30a8\u30af\u30a4\u30c6\u30a3\uff1a\u76f4\u63a5\u4fdd\u6709\u3001\u975e\u4e0a\u5834\u30d5\u30a1\u30f3\u30c9\u3001\u975e\u516c\u958b\u30c7\u30c3\u30c8\uff1a\u30e2\u30fc\u30b2\u30fc\u30b8\u30fb\u30ed\u30fc\u30f3<\/li>\n<li>\u30a4\u30f3\u30ab\u30e0\uff08\u8cc3\u6599\uff09\u306f\u5024\u4e0a\u304c\u308a\u3088\u308a\u5b89\u5b9a\u3057\u305f\u30ea\u30bf\u30fc\u30f3\u306e\u6e90\u6cc9<\/li>\n<li>\u30b3\u30a2\uff08\u5b89\u5b9a\u7a3c\u50cd\u7269\u4ef6\u3001\u50b5\u5238\u7684\uff09\u304b\u3089\u958b\u767a\u578b\uff08\u682a\u5f0f\u7684\uff09\u307e\u3067\u30ea\u30b9\u30af\u306e\u5e45\u304c\u3042\u308b<\/li>\n<li>\u5206\u6563\u52b9\u679c\u306f\u3042\u308b\u304c\u3001\u5e02\u5834\u6025\u843d\u6642\u306b\u306fREIT\u3068\u682a\u5f0f\u306e\u76f8\u95a2\u304c\u4e0a\u6607<\/li>\n<li>\u9451\u5b9a\u8a55\u4fa1\u30d9\u30fc\u30b9\u306e\u6307\u6570\u306f\u30dc\u30e9\u30c6\u30a3\u30ea\u30c6\u30a3\u304c\u5e73\u6ed1\u5316\u3055\u308c\u3084\u3059\u3044<\/li>\n<\/ul>\n<h3>LOS 3\uff1a\u30a4\u30f3\u30d5\u30e9\u306e\u7279\u5fb4\u3068\u5206\u985e<\/h3>\n<p><strong>\u30a4\u30f3\u30d5\u30e9<\/strong>\u306f\u3001\u8cc7\u672c\u96c6\u7d04\u7684\u3067\u8010\u7528\u5e74\u6570\u304c\u9577\u304f\u3001\u516c\u5171\u306b\u4e0d\u53ef\u6b20\u306a\u30b5\u30fc\u30d3\u30b9\u3092\u63d0\u4f9b\u3059\u308b\u8cc7\u7523\u3067\u3059\u3002<strong>\u7d4c\u6e08\u30a4\u30f3\u30d5\u30e9<\/strong>\u3068<strong>\u793e\u4f1a\u30a4\u30f3\u30d5\u30e9<\/strong>\u3001\u958b\u767a\u6bb5\u968e\u306b\u3088\u308b<strong>\u30b0\u30ea\u30fc\u30f3\u30d5\u30a3\u30fc\u30eb\u30c9<\/strong>\u30fb<strong>\u30d6\u30e9\u30a6\u30f3\u30d5\u30a3\u30fc\u30eb\u30c9<\/strong>\u306a\u3069\u306b\u5206\u985e\u3055\u308c\u307e\u3059\u3002<\/p>\n<ul>\n<li>\u7d4c\u6e08\u30a4\u30f3\u30d5\u30e9\uff1a\u4ea4\u901a\uff08\u9053\u8def\u30fb\u7a7a\u6e2f\u30fb\u6e2f\u6e7e\uff09\u3001\u516c\u76ca\uff08\u4e0a\u4e0b\u6c34\u9053\u30fb\u9001\u96fb\uff09\u3001\u30a8\u30cd\u30eb\u30ae\u30fc\u3001\u901a\u4fe1<\/li>\n<li>\u793e\u4f1a\u30a4\u30f3\u30d5\u30e9\uff1a\u5b66\u6821\u3001\u75c5\u9662\u3001\u5211\u52d9\u6240\u306a\u3069<\/li>\n<li>\u30b0\u30ea\u30fc\u30f3\u30d5\u30a3\u30fc\u30eb\u30c9\uff1a\u65b0\u898f\u5efa\u8a2d\u306e\u8cc7\u7523<\/li>\n<li>\u30d6\u30e9\u30a6\u30f3\u30d5\u30a3\u30fc\u30eb\u30c9\uff1a\u65e2\u5b58\u8cc7\u7523\u306e\u53d6\u5f97\u30fb\u6539\u4fee<\/li>\n<li>\u30bb\u30ab\u30f3\u30c0\u30ea\u30fc\u30fb\u30b9\u30c6\u30fc\u30b8\uff1a\u7a3c\u50cd\u6e08\u307f\u3067\u5b9f\u7e3e\u306e\u3042\u308b\u8cc7\u7523<\/li>\n<li>\u5b98\u6c11\u9023\u643a\uff08PPP\uff09\u3001\u5efa\u8a2d\u30fb\u904b\u55b6\u30fb\u79fb\u8ee2\uff08BOT\uff09\u306e\u30e9\u30a4\u30d5\u30b5\u30a4\u30af\u30eb<\/li>\n<\/ul>\n<h3>LOS 4\uff1a\u30a4\u30f3\u30d5\u30e9\u6295\u8cc7\u306e\u6295\u8cc7\u7279\u6027<\/h3>\n<p>\u30a4\u30f3\u30d5\u30e9\u6295\u8cc7\u306f\u3001\u898f\u5236\u3084\u9577\u671f\u5951\u7d04\u306b\u652f\u3048\u3089\u308c\u305f<strong>\u5b89\u5b9a\u3057\u305f\u9577\u671f\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc<\/strong>\u304c\u4e3b\u306a\u30ea\u30bf\u30fc\u30f3\u6e90\u3067\u3001\u7d4c\u6e08\u6210\u9577\u3084\u30a4\u30f3\u30d5\u30ec\u306b\u9023\u52d5\u3057\u3084\u3059\u3044\u70b9\u304c\u7279\u5fb4\u3067\u3059\u3002\u958b\u767a\u6bb5\u968e\u304c\u65e9\u3044\u307b\u3069\u671f\u5f85\u30ea\u30bf\u30fc\u30f3\u3068\u30ea\u30b9\u30af\u304c\u9ad8\u304f\u306a\u308a\u307e\u3059\u3002<\/p>\n<ul>\n<li>\u671f\u5f85\u30ea\u30bf\u30fc\u30f3\u30fb\u30ea\u30b9\u30af\uff1a\u30b0\u30ea\u30fc\u30f3\u30d5\u30a3\u30fc\u30eb\u30c9\u304c\u6700\u3082\u9ad8\u304f\u3001\u30bb\u30ab\u30f3\u30c0\u30ea\u30fc\u30fb\u30b9\u30c6\u30fc\u30b8\u304c\u6700\u3082\u4f4e\u3044<\/li>\n<li>\u4e3b\u306a\u671f\u5f85\uff1a\u7d4c\u6e08\u6210\u9577\u30fb\u30a4\u30f3\u30d5\u30ec\u306b\u9023\u52d5\u3059\u308b\u5b89\u5b9a\u3057\u305f\u30a4\u30f3\u30ab\u30e0\u3001\u526f\u6b21\u7684\u306b\u5024\u4e0a\u304c\u308a<\/li>\n<li>\u4ed6\u306e\u516c\u958b\u8cc7\u7523\u3068\u306e\u76f8\u95a2\u304c\u4f4e\u304f\u5206\u6563\u52b9\u679c\u304c\u3042\u308b<\/li>\n<li>GDP\u6210\u9577\u306e\u5909\u5316\u3084\u30a4\u30f3\u30d5\u30ec\u306b\u5bfe\u3059\u308b\u3042\u308b\u7a0b\u5ea6\u306e\u4fdd\u8b77<\/li>\n<li>\u30ea\u30b9\u30af\uff1a\u5efa\u8a2d\u30ea\u30b9\u30af\u3001\u898f\u5236\u30fb\u653f\u6cbb\u30ea\u30b9\u30af\u3001\u9700\u8981\u30ea\u30b9\u30af\u3001\u6d41\u52d5\u6027\u306e\u4f4e\u3055<\/li>\n<li>\u6295\u8cc7\u5f62\u614b\uff1a\u76f4\u63a5\u6295\u8cc7\u3001\u975e\u4e0a\u5834\u30d5\u30a1\u30f3\u30c9\u3001\u4e0a\u5834\u30a4\u30f3\u30d5\u30e9\u4f01\u696d\u30fb\u30d5\u30a1\u30f3\u30c9<\/li>\n<\/ul>\n<h2>\u52b9\u7387\u3088\u304f\u5b66\u3076\u306b\u306f FA-Academy<\/h2>\n<p>CFA\u00ae\ufe0e\u306e\u5354\u4f1a\u30c6\u30ad\u30b9\u30c8\u306f\u82f1\u8a9e\u3067\u5206\u91cf\u3082\u591a\u304f\u30011\u3064\u3072\u3068\u3064\u306e\u5358\u5143\u3092\u82f1\u8a9e\u3060\u3051\u3067\u7406\u89e3\u3057\u3066\u3044\u304f\u306e\u306f\u5927\u304d\u306a\u8ca0\u62c5\u3067\u3059\u3002<\/p>\n<p>FA-Academy\uff08Financial Analyst Academy\uff09\u306f\u3001<strong>\u65e5\u672c\u8a9e\u3067\u5b66\u3079\u308b\u6570\u5c11\u306a\u3044CFA\u00ae\ufe0e\u8a66\u9a13\u30b5\u30dd\u30fc\u30c8<\/strong>\u3067\u3059\u3002\u3053\u308c\u307e\u3067 Level 1 \u304b\u3089 Level 3 \u307e\u3067\u591a\u304f\u306e\u5408\u683c\u8005\u3092\u8f29\u51fa\u3057\u3066\u304a\u308a\u3001\u5408\u683c\u8005\u306e\u65b9\u3005\u3068\u306e\u5bfe\u8ac7\u3082\u6570\u591a\u304f\u516c\u958b\u3057\u3066\u3044\u307e\u3059\u3002\u3069\u3093\u306a\u65b9\u304c\u3001\u3069\u306e\u3088\u3046\u306b\u5408\u683c\u3055\u308c\u305f\u306e\u304b\u306f<a href=\"https:\/\/triumphmind.com\/cfa\/category\/gokaku\/\" target=\"_blank\" rel=\"noopener\">\u5408\u683c\u8005\u5bfe\u8ac7\u30fb\u5408\u683c\u4f53\u9a13\u8ac7\u306e\u4e00\u89a7<\/a>\u304b\u3089\u3054\u89a7\u3044\u305f\u3060\u3051\u307e\u3059\u3002<\/p>\n<ul>\n<li><a href=\"https:\/\/triumphmind.com\/cfa\/present1\/\" target=\"_blank\" rel=\"noopener\">Level 1 \u65e5\u672c\u8a9e\u8981\u70b9\u96c6\u306e\u7121\u6599\u30b5\u30f3\u30d7\u30eb\u3092\u53d7\u3051\u53d6\u308b\uff087\u65e5\u9593\u30e1\u30fc\u30eb\u8b1b\u5ea7\uff09<\/a><\/li>\n<li><a href=\"https:\/\/timerex.net\/s\/cfa.tips.slack_2a23\/e72e883e\/\" target=\"_blank\" rel=\"noopener\">\u7121\u6599\u500b\u5225\u9762\u8ac7\u3092\u4e88\u7d04\u3059\u308b\uff08\u5b66\u7fd2\u8a08\u753b\u306e\u3054\u76f8\u8ac7\uff09<\/a><\/li>\n<li><a href=\"https:\/\/triumphmind.com\/cfa\/course\/\" target=\"_blank\" rel=\"noopener\">\u53d7\u8b1b\u6848\u5185\uff08\u30b3\u30fc\u30b9\u4e00\u89a7\u30fb\u53d7\u8b1b\u6599\uff09\u3092\u898b\u308b<\/a><\/li>\n<\/ul>\n<div class=\"cfalm-nav\">\u524d\u306e\u5358\u5143\uff1a<a href=\"https:\/\/triumphmind.com\/cfa\/2026\/09\/22\/cfa-l1-alt-lm3\/\">LM3 Investments in Private Capital: Equity and Debt\uff08\u30d7\u30e9\u30a4\u30d9\u30fc\u30c8\u30fb\u30ad\u30e3\u30d4\u30bf\u30eb\uff1a\u30a8\u30af\u30a4\u30c6\u30a3\u3068\u30c7\u30c3\u30c8\uff09<\/a><br \/>\n\u6b21\u306e\u5358\u5143\uff1a<a href=\"https:\/\/triumphmind.com\/cfa\/2026\/09\/22\/cfa-l1-alt-lm5\/\">LM5 Natural Resources\uff08\u5929\u7136\u8cc7\u6e90\uff09<\/a><br \/>\n\u5168\u4f53\u306e\u76ee\u6b21\uff1a<a href=\"https:\/\/triumphmind.com\/cfa\/cfa-curriculum\/#l1-alt\">CFA\u00ae\ufe0e \u5b66\u7fd2\u5185\u5bb9\u306e\u76ee\u6b21\uff08Level 1 Alternative Investments\uff09<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"<p>CFA\u00ae\ufe0e Level 1 Alternative Investments LM4\u300cReal Estate and Infrastructure\uff08\u4e0d\u52d5\u7523\u3068\u30a4\u30f3\u30d5\u30e9\uff09\u300d\u306eLOS\uff08\u5b66\u7fd2\u76ee\u6a19\uff09\u3068\u91cd\u8981\u8ad6\u70b9\u3092\u3001\u6700\u65b0\u7248\u30ab\u30ea\u30ad\u30e5\u30e9\u30e0\u306b\u57fa\u3065\u3044\u3066\u65e5\u672c\u8a9e\u3067\u6574\u7406\u3057\u307e\u3057\u305f\u3002<\/p>\n","protected":false},"author":1,"featured_media":11144,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jin_ogp_image_url":"","_jin_last_featured_id":0,"footnotes":""},"categories":[98],"tags":[],"class_list":["post-10798","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-level1-topics"],"_links":{"self":[{"href":"https:\/\/triumphmind.com\/cfa\/wp-json\/wp\/v2\/posts\/10798","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/triumphmind.com\/cfa\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/triumphmind.com\/cfa\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/triumphmind.com\/cfa\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/triumphmind.com\/cfa\/wp-json\/wp\/v2\/comments?post=10798"}],"version-history":[{"count":1,"href":"https:\/\/triumphmind.com\/cfa\/wp-json\/wp\/v2\/posts\/10798\/revisions"}],"predecessor-version":[{"id":10971,"href":"https:\/\/triumphmind.com\/cfa\/wp-json\/wp\/v2\/posts\/10798\/revisions\/10971"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/triumphmind.com\/cfa\/wp-json\/wp\/v2\/media\/11144"}],"wp:attachment":[{"href":"https:\/\/triumphmind.com\/cfa\/wp-json\/wp\/v2\/media?parent=10798"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/triumphmind.com\/cfa\/wp-json\/wp\/v2\/categories?post=10798"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/triumphmind.com\/cfa\/wp-json\/wp\/v2\/tags?post=10798"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}