{"id":10850,"date":"2026-09-22T06:00:00","date_gmt":"2026-09-21T21:00:00","guid":{"rendered":"https:\/\/triumphmind.com\/cfa\/2026\/09\/22\/cfa-l2-alt-lm1\/"},"modified":"2026-09-22T07:44:31","modified_gmt":"2026-09-21T22:44:31","slug":"cfa-l2-alt-lm1","status":"publish","type":"post","link":"https:\/\/triumphmind.com\/cfa\/2026\/09\/22\/cfa-l2-alt-lm1\/","title":{"rendered":"\u3010CFA\u00ae\ufe0e L2 Alternatives LM1\u3011Introduction to Commodities and Commodity Derivatives \u3092\u8981\u70b9\u89e3\u8aac\uff5c\u30b3\u30f3\u30bf\u30f3\u30b4\u30fb\u30d0\u30c3\u30af\u30ef\u30fc\u30c7\u30fc\u30b7\u30e7\u30f3\u30fb\u30ed\u30fc\u30eb\u30fb\u30ea\u30bf\u30fc\u30f3\u30fb\u30b3\u30e2\u30c7\u30a3\u30c6\u30a3\u6307\u6570"},"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 1\u300cIntroduction to Commodities and Commodity Derivatives\uff08\u30b3\u30e2\u30c7\u30a3\u30c6\u30a3\u3068\u30c7\u30ea\u30d0\u30c6\u30a3\u30d6\u5165\u9580\uff09\u300d\u306f\u3001\u30b3\u30e2\u30c7\u30a3\u30c6\u30a3\u306e\u5404\u30bb\u30af\u30bf\u30fc\u306e\u7279\u5fb4\u3068\u30e9\u30a4\u30d5\u30b5\u30a4\u30af\u30eb\u3001\u682a\u5f0f\u30fb\u50b5\u5238\u3068\u306e\u30d0\u30ea\u30e5\u30a8\u30fc\u30b7\u30e7\u30f3\u306e\u9055\u3044\u3001\u5148\u7269\u5e02\u5834\u306e\u53c2\u52a0\u8005\u3001\u30b3\u30f3\u30bf\u30f3\u30b4\u3068\u30d0\u30c3\u30af\u30ef\u30fc\u30c7\u30fc\u30b7\u30e7\u30f3\u3001\u5148\u7269\u30ea\u30bf\u30fc\u30f3\u306e\u7406\u8ad6\u3068\u30c8\u30fc\u30bf\u30eb\u30fb\u30ea\u30bf\u30fc\u30f3\u306e\u69cb\u6210\u8981\u7d20\u3001\u30b3\u30e2\u30c7\u30a3\u30c6\u30a3\u30fb\u30b9\u30ef\u30c3\u30d7\u3068\u6307\u6570\u306e\u69cb\u7bc9\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>LM1\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\u3002LM1\u306b\u306f10\u500b\u306eLOS\u304c\u3042\u308a\u307e\u3059\u3002<\/p>\n<ol class=\"cfalm-los\">\n<li><span class=\"ja\">LOS 1\uff1a\u30b3\u30e2\u30c7\u30a3\u30c6\u30a3\u306e\u5404\u30bb\u30af\u30bf\u30fc\u306e\u7279\u5fb4\u3092\u6bd4\u8f03\u3059\u308b<\/span><span class=\"en\">compare characteristics of commodity sectors<\/span><\/li>\n<li><span class=\"ja\">LOS 2\uff1a\u751f\u7523\u304b\u3089\u53d6\u5f15\u30fb\u6d88\u8cbb\u306b\u81f3\u308b\u307e\u3067\u306e\u30b3\u30e2\u30c7\u30a3\u30c6\u30a3\u30fb\u30bb\u30af\u30bf\u30fc\u306e\u30e9\u30a4\u30d5\u30b5\u30a4\u30af\u30eb\u3092\u6bd4\u8f03\u3059\u308b<\/span><span class=\"en\">compare the life cycle of commodity sectors from production through trading or consumption<\/span><\/li>\n<li><span class=\"ja\">LOS 3\uff1a\u30b3\u30e2\u30c7\u30a3\u30c6\u30a3\u306e\u30d0\u30ea\u30e5\u30a8\u30fc\u30b7\u30e7\u30f3\u3068\u682a\u5f0f\u30fb\u50b5\u5238\u306e\u30d0\u30ea\u30e5\u30a8\u30fc\u30b7\u30e7\u30f3\u3092\u5bfe\u6bd4\u3059\u308b<\/span><span class=\"en\">contrast the valuation of commodities with the valuation of equities and bonds<\/span><\/li>\n<li><span class=\"ja\">LOS 4\uff1a\u30b3\u30e2\u30c7\u30a3\u30c6\u30a3\u5148\u7269\u5e02\u5834\u306e\u53c2\u52a0\u8005\u306e\u7a2e\u985e\u3092\u8aac\u660e\u3059\u308b<\/span><span class=\"en\">describe types of participants in commodity futures markets<\/span><\/li>\n<li><span class=\"ja\">LOS 5\uff1a\u30b3\u30f3\u30bf\u30f3\u30b4\u304a\u3088\u3073\u30d0\u30c3\u30af\u30ef\u30fc\u30c7\u30fc\u30b7\u30e7\u30f3\u306e\u5e02\u5834\u306b\u304a\u3051\u308b\u73fe\u7269\u4fa1\u683c\u3068\u5148\u7269\u4fa1\u683c\u306e\u95a2\u4fc2\u3092\u5206\u6790\u3059\u308b<\/span><span class=\"en\">analyze the relationship between spot prices and futures prices in markets in contango and markets in backwardation<\/span><\/li>\n<li><span class=\"ja\">LOS 6\uff1a\u30b3\u30e2\u30c7\u30a3\u30c6\u30a3\u5148\u7269\u30ea\u30bf\u30fc\u30f3\u306b\u95a2\u3059\u308b\u8af8\u7406\u8ad6\u3092\u6bd4\u8f03\u3059\u308b<\/span><span class=\"en\">compare theories of commodity futures returns<\/span><\/li>\n<li><span class=\"ja\">LOS 7\uff1a\u5b8c\u5168\u62c5\u4fdd\u4ed8\u304d\u30b3\u30e2\u30c7\u30a3\u30c6\u30a3\u5148\u7269\u306e\u30c8\u30fc\u30bf\u30eb\u30fb\u30ea\u30bf\u30fc\u30f3\u306e\u69cb\u6210\u8981\u7d20\u3092\u8aac\u660e\u30fb\u8a08\u7b97\u30fb\u89e3\u91c8\u3059\u308b<\/span><span class=\"en\">describe, calculate, and interpret the components of total return for a fully collateralized commodity futures contract<\/span><\/li>\n<li><span class=\"ja\">LOS 8\uff1a\u30b3\u30f3\u30bf\u30f3\u30b4\u3068\u30d0\u30c3\u30af\u30ef\u30fc\u30c7\u30fc\u30b7\u30e7\u30f3\u306e\u5e02\u5834\u306b\u304a\u3051\u308b\u30ed\u30fc\u30eb\u30fb\u30ea\u30bf\u30fc\u30f3\u3092\u5bfe\u6bd4\u3059\u308b<\/span><span class=\"en\">contrast roll return in markets in contango and markets in backwardation<\/span><\/li>\n<li><span class=\"ja\">LOS 9\uff1a\u30b3\u30e2\u30c7\u30a3\u30c6\u30a3\u30fb\u30b9\u30ef\u30c3\u30d7\u3092\u7528\u3044\u3066\u30b3\u30e2\u30c7\u30a3\u30c6\u30a3\u3078\u306e\u30a8\u30af\u30b9\u30dd\u30fc\u30b8\u30e3\u30fc\u3092\u5f97\u308b\u30fb\u8abf\u6574\u3059\u308b\u65b9\u6cd5\u3092\u8aac\u660e\u3059\u308b<\/span><span class=\"en\">describe how commodity swaps are used to obtain or modify exposure to commodities<\/span><\/li>\n<li><span class=\"ja\">LOS 10\uff1a\u30b3\u30e2\u30c7\u30a3\u30c6\u30a3\u6307\u6570\u306e\u69cb\u7bc9\u65b9\u6cd5\u304c\u6307\u6570\u30ea\u30bf\u30fc\u30f3\u306b\u4e0e\u3048\u308b\u5f71\u97ff\u3092\u8aac\u660e\u3059\u308b<\/span><span class=\"en\">describe how the construction of commodity indexes affects index returns<\/span><\/li>\n<\/ol>\n<h2>LM1\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>\u30b3\u30e2\u30c7\u30a3\u30c6\u30a3\u306f\u30a8\u30cd\u30eb\u30ae\u30fc\u3001\u7a40\u7269\u3001\u7523\u696d\u7528\uff08\u30d9\u30fc\u30b9\uff09\u30e1\u30bf\u30eb\u3001\u755c\u7523\u3001\u8cb4\u91d1\u5c5e\u3001\u30bd\u30d5\u30c8\uff08\u55dc\u597d\u4f5c\u7269\uff09\u306a\u3069\u306e\u30bb\u30af\u30bf\u30fc\u304b\u3089\u6210\u308a\u3001\u4fdd\u7ba1\u306e\u3057\u3084\u3059\u3055\u3001\u5730\u653f\u5b66\u3001\u5929\u5019\u306a\u3069\u304c\u9700\u7d66\u3092\u5de6\u53f3\u3059\u308b<\/li>\n<li>\u30d5\u30a1\u30f3\u30c0\u30e1\u30f3\u30bf\u30eb\u5206\u6790\u306e\u4e2d\u5fc3\u306f\u5404\u5546\u54c1\u306e\u9700\u7d66\u5206\u6790\u3068\u3001\u9700\u7d66\u5747\u8861\u3078\u306e\u30b7\u30e7\u30c3\u30af\u306b\u5bfe\u3059\u308b\u53cd\u5fdc\u306e\u4e88\u6e2c<\/li>\n<li>\u30e9\u30a4\u30d5\u30b5\u30a4\u30af\u30eb\u306f\u5546\u54c1\u3054\u3068\u306b\u5927\u304d\u304f\u7570\u306a\u308a\u3001\u77ed\u3044\u307b\u3069\u5916\u90e8\u74b0\u5883\u306e\u5909\u5316\u306b\u3059\u3070\u3084\u304f\u8abf\u6574\u3067\u304d\u3001\u9577\u3044\u307b\u3069\u5e02\u5834\u306e\u53cd\u5fdc\u304c\u5236\u7d04\u3055\u308c\u308b<\/li>\n<li>\u682a\u5f0f\u30fb\u50b5\u5238\u306f\u5c06\u6765\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u306b\u57fa\u3065\u304f\u91d1\u878d\u8cc7\u7523\u3001\u30b3\u30e2\u30c7\u30a3\u30c6\u30a3\u306f\u5b9f\u7269\u8cc7\u7523\u3067\u3042\u308a\u3001\u9700\u7d66\u306a\u3069\u306b\u57fa\u3065\u304f\u5c06\u6765\u4fa1\u683c\u306e\u4e88\u60f3\u304b\u3089\u8a55\u4fa1\u3055\u308c\u308b<\/li>\n<li>\u5148\u7269\u5e02\u5834\u306e\u53c2\u52a0\u8005\u306f\u3001\u60c5\u5831\u306b\u57fa\u3065\u304f\u6295\u8cc7\u5bb6\u30fb\u30d8\u30c3\u30b8\u30e3\u30fc\u3001\u30b9\u30da\u30ad\u30e5\u30ec\u30fc\u30bf\u30fc\u3001\u30a2\u30fc\u30d3\u30c8\u30e9\u30fc\u30b8\u30e3\u30fc\u306b\u5927\u5225\u3055\u308c\u308b<\/li>\n<li>\u73fe\u7269\u4fa1\u683c\u304c\u5148\u7269\u4fa1\u683c\u3092\u4e0a\u56de\u308b\u72b6\u614b\u304c\u30d0\u30c3\u30af\u30ef\u30fc\u30c7\u30fc\u30b7\u30e7\u30f3\u3001\u4e0b\u56de\u308b\u72b6\u614b\u304c\u30b3\u30f3\u30bf\u30f3\u30b4<\/li>\n<li>\u5148\u7269\u30ea\u30bf\u30fc\u30f3\u306e\u7406\u8ad6\u306b\u306f\u4fdd\u967a\u7406\u8ad6\u3001\u30d8\u30c3\u30b8\u30f3\u30b0\u30fb\u30d7\u30ec\u30c3\u30b7\u30e3\u30fc\u4eee\u8aac\u3001\u4fdd\u7ba1\u7406\u8ad6\u304c\u3042\u308b<\/li>\n<li>\u5148\u7269\u306e\u30c8\u30fc\u30bf\u30eb\u30fb\u30ea\u30bf\u30fc\u30f3\u306f\u4fa1\u683c\u30ea\u30bf\u30fc\u30f3\u3001\u30ed\u30fc\u30eb\u30fb\u30ea\u30bf\u30fc\u30f3\u3001\u62c5\u4fdd\u30ea\u30bf\u30fc\u30f3\u3067\u69cb\u6210\u3055\u308c\u3001\u6307\u6570\u3067\u306f\u69cb\u6210\u9298\u67c4\u306e\u9078\u3073\u65b9\u3084\u30a6\u30a8\u30a4\u30c8\u4ed8\u3051\u3001\u30ed\u30fc\u30eb\u65b9\u6cd5\u3001\u30ea\u30d0\u30e9\u30f3\u30b9\u304c\u30ea\u30bf\u30fc\u30f3\u3092\u5de6\u53f3\u3059\u308b<\/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\u30b3\u30e2\u30c7\u30a3\u30c6\u30a3\u30fb\u30bb\u30af\u30bf\u30fc\u306e\u7279\u5fb4<\/h3>\n<p>\u30b3\u30e2\u30c7\u30a3\u30c6\u30a3\u306f<strong>\u30a8\u30cd\u30eb\u30ae\u30fc\u3001\u7a40\u7269\u3001\u30d9\u30fc\u30b9\u30e1\u30bf\u30eb\u3001\u755c\u7523\u3001\u8cb4\u91d1\u5c5e\u3001\u30bd\u30d5\u30c8<\/strong>\u306a\u3069\u306e\u30bb\u30af\u30bf\u30fc\u306b\u5206\u304b\u308c\u3001\u9700\u7d66\u3092\u6c7a\u3081\u308b\u8981\u56e0\u304c\u30bb\u30af\u30bf\u30fc\u3054\u3068\u306b\u7570\u306a\u308a\u307e\u3059\u3002\u4fdd\u7ba1\u306e\u3057\u3084\u3059\u3055\u3001\u5929\u5019\u3001\u5730\u653f\u5b66\u306a\u3069\u304c\u3069\u306e\u7a0b\u5ea6\u5f71\u97ff\u3059\u308b\u304b\u3092\u6bd4\u8f03\u3067\u304d\u308b\u3053\u3068\u304c\u6c42\u3081\u3089\u308c\u307e\u3059\u3002<\/p>\n<ul>\n<li>\u30a8\u30cd\u30eb\u30ae\u30fc\uff1a\u539f\u6cb9\u30fb\u5929\u7136\u30ac\u30b9\u30fb\u7cbe\u88fd\u54c1\u3002\u5730\u653f\u5b66\u3084\u666f\u6c17\u3001\u8f38\u9001\u30fb\u4fdd\u7ba1\u30a4\u30f3\u30d5\u30e9\u306e\u5f71\u97ff\u304c\u5927\u304d\u3044<\/li>\n<li>\u7a40\u7269\u30fb\u30bd\u30d5\u30c8\uff1a\u5929\u5019\u3084\u75c5\u5bb3\u306e\u5f71\u97ff\u3092\u5f37\u304f\u53d7\u3051\u3001\u53ce\u7a6b\u671f\u306b\u3088\u308b\u5b63\u7bc0\u6027\u304c\u3042\u308b<\/li>\n<li>\u30d9\u30fc\u30b9\u30e1\u30bf\u30eb\uff1a\u666f\u6c17\uff08\u7279\u306b\u5de5\u696d\u751f\u7523\u30fb\u5efa\u8a2d\uff09\u306b\u9023\u52d5\u3057\u3084\u3059\u3044<\/li>\n<li>\u8cb4\u91d1\u5c5e\uff1a\u91d1\u306f\u4fa1\u5024\u4fdd\u5b58\u30fb\u901a\u8ca8\u7684\u306a\u9700\u8981\u3001\u30d7\u30e9\u30c1\u30ca\u306a\u3069\u306f\u5de5\u696d\u7528\u9014\u3082\u3042\u308b<\/li>\n<li>\u755c\u7523\uff1a\u98fc\u6599\uff08\u7a40\u7269\uff09\u4fa1\u683c\u3084\u75be\u75c5\u306e\u5f71\u97ff\u3092\u53d7\u3051\u308b<\/li>\n<li>\u4fdd\u7ba1\u306e\u3057\u3084\u3059\u3055\uff08\u4fdd\u7ba1\u30b3\u30b9\u30c8\u3084\u52a3\u5316\uff09\u304c\u5148\u7269\u30ab\u30fc\u30d6\u306e\u5f62\u72b6\u306b\u5f71\u97ff<\/li>\n<\/ul>\n<h3>LOS 2\uff1a\u30b3\u30e2\u30c7\u30a3\u30c6\u30a3\u306e\u30e9\u30a4\u30d5\u30b5\u30a4\u30af\u30eb<\/h3>\n<p>\u751f\u7523\u304b\u3089\u52a0\u5de5\u30fb\u6d41\u901a\u30fb\u6d88\u8cbb\u307e\u3067\u306e<strong>\u30e9\u30a4\u30d5\u30b5\u30a4\u30af\u30eb<\/strong>\u306f\u5546\u54c1\u3054\u3068\u306b\u5927\u304d\u304f\u7570\u306a\u308a\u307e\u3059\u3002\u30b5\u30a4\u30af\u30eb\u304c\u77ed\u3044\u5546\u54c1\u306f\u5916\u90e8\u30b7\u30e7\u30c3\u30af\u306b\u7d20\u65e9\u304f\u4f9b\u7d66\u8abf\u6574\u3067\u304d\u3001\u9577\u3044\u5546\u54c1\u306f\u8abf\u6574\u306b\u6642\u9593\u304c\u304b\u304b\u308a\u4fa1\u683c\u304c\u5927\u304d\u304f\u52d5\u304d\u3084\u3059\u304f\u306a\u308a\u307e\u3059\u3002<\/p>\n<ul>\n<li>\u7a40\u7269\uff1a\u4f5c\u4ed8\u3051\u304b\u3089\u53ce\u7a6b\u307e\u3067\u5e74\u5358\u4f4d\u306e\u5b63\u7bc0\u30b5\u30a4\u30af\u30eb<\/li>\n<li>\u755c\u7523\uff1a\u98fc\u80b2\u671f\u9593\u304c\u9577\u304f\u4f9b\u7d66\u306e\u8abf\u6574\u306b\u6642\u9593\u304c\u304b\u304b\u308b<\/li>\n<li>\u30a8\u30cd\u30eb\u30ae\u30fc\u30fb\u30e1\u30bf\u30eb\uff1a\u63a2\u9271\u30fb\u958b\u767a\u306b\u9577\u671f\u9593\u3092\u8981\u3057\u3001\u4f9b\u7d66\u306e\u5f3e\u529b\u6027\u304c\u4f4e\u3044<\/li>\n<li>\u30b5\u30a4\u30af\u30eb\u306e\u9577\u77ed\u3068\u4fdd\u7ba1\u306e\u53ef\u5426\u304c\u4fa1\u683c\u5909\u52d5\u3084\u5148\u7269\u30ab\u30fc\u30d6\u306b\u5f71\u97ff<\/li>\n<\/ul>\n<h3>LOS 3\uff1a\u30b3\u30e2\u30c7\u30a3\u30c6\u30a3\u3068\u682a\u5f0f\u30fb\u50b5\u5238\u306e\u8a55\u4fa1\u306e\u9055\u3044<\/h3>\n<p>\u682a\u5f0f\u3084\u50b5\u5238\u306f\u5c06\u6765\u306e\u5229\u76ca\u3084\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u3092\u5272\u308a\u5f15\u3044\u3066\u8a55\u4fa1\u3059\u308b<strong>\u91d1\u878d\u8cc7\u7523<\/strong>\u3067\u3059\u3002\u4e00\u65b9\u30b3\u30e2\u30c7\u30a3\u30c6\u30a3\u306f<strong>\u5b9f\u7269\u8cc7\u7523<\/strong>\u3067\u3001\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u3092\u751f\u307e\u306a\u3044\u305f\u3081\u3001\u9700\u7d66\u306a\u3069\u306b\u57fa\u3065\u304f\u5c06\u6765\u4fa1\u683c\u306e\u4e88\u60f3\u3092\u5272\u308a\u5f15\u304f\u5f62\u3067\u8a55\u4fa1\u3055\u308c\u307e\u3059\u3002<\/p>\n<ul>\n<li>\u30b3\u30e2\u30c7\u30a3\u30c6\u30a3\u306f\u30a4\u30f3\u30ab\u30e0\uff08\u914d\u5f53\u30fb\u5229\u606f\uff09\u3092\u751f\u307e\u306a\u3044<\/li>\n<li>\u4fdd\u7ba1\u30b3\u30b9\u30c8\u3084\u8f38\u9001\u30b3\u30b9\u30c8\u306a\u3069\u5b9f\u7269\u7279\u6709\u306e\u8981\u7d20\u304c\u3042\u308b<\/li>\n<li>\u8a55\u4fa1\u306e\u57fa\u790e\u306f\u9700\u7d66\u5206\u6790\u3068\u5c06\u6765\u4fa1\u683c\u306e\u4e88\u60f3<\/li>\n<li>\u682a\u5f0f\u30fb\u50b5\u5238\u306e\u3088\u3046\u306aDCF\u306b\u3088\u308b\u672c\u6e90\u7684\u4fa1\u5024\u306e\u7b97\u51fa\u306f\u56f0\u96e3<\/li>\n<\/ul>\n<h3>LOS 4\uff1a\u5148\u7269\u5e02\u5834\u306e\u53c2\u52a0\u8005<\/h3>\n<p>\u30b3\u30e2\u30c7\u30a3\u30c6\u30a3\u5148\u7269\u5e02\u5834\u306b\u306f<strong>\u30d8\u30c3\u30b8\u30e3\u30fc<\/strong>\u3001<strong>\u30b9\u30da\u30ad\u30e5\u30ec\u30fc\u30bf\u30fc<\/strong>\u3001<strong>\u30a2\u30fc\u30d3\u30c8\u30e9\u30fc\u30b8\u30e3\u30fc<\/strong>\u306e3\u7a2e\u985e\u306e\u53c2\u52a0\u8005\u304c\u3044\u307e\u3059\u3002\u305d\u306e\u307b\u304b\u53d6\u5f15\u6240\u3084\u898f\u5236\u5f53\u5c40\u3001\u5206\u6790\u8005\u306a\u3069\u3082\u5e02\u5834\u3092\u652f\u3048\u308b\u5f79\u5272\u3092\u62c5\u3044\u307e\u3059\u3002<\/p>\n<ul>\n<li>\u30d8\u30c3\u30b8\u30e3\u30fc\uff1a\u751f\u7523\u8005\u3084\u6d88\u8cbb\u8005\u306a\u3069\u3001\u73fe\u7269\u306e\u4fa1\u683c\u30ea\u30b9\u30af\u3092\u79fb\u8ee2\u3057\u305f\u3044\u53c2\u52a0\u8005<\/li>\n<li>\u30b9\u30da\u30ad\u30e5\u30ec\u30fc\u30bf\u30fc\uff1a\u30ea\u30b9\u30af\u3092\u5f15\u304d\u53d7\u3051\u3066\u5229\u76ca\u3092\u72d9\u3046\u3002\u6d41\u52d5\u6027\u306e\u4f9b\u7d66\u306b\u3082\u5bc4\u4e0e<\/li>\n<li>\u30a2\u30fc\u30d3\u30c8\u30e9\u30fc\u30b8\u30e3\u30fc\uff1a\u73fe\u7269\u3068\u5148\u7269\u3001\u9650\u6708\u9593\u306a\u3069\u306e\u4fa1\u683c\u5dee\u3092\u5229\u7528\u3057\u3001\u4fa1\u683c\u306e\u6574\u5408\u6027\u3092\u4fdd\u3064<\/li>\n<li>\u73fe\u7269\u3092\u4fdd\u7ba1\u30fb\u8f38\u9001\u3067\u304d\u308b\u696d\u8005\u306f\u88c1\u5b9a\u53d6\u5f15\u3092\u884c\u3044\u3084\u3059\u3044<\/li>\n<\/ul>\n<h3>LOS 5\uff1a\u30b3\u30f3\u30bf\u30f3\u30b4\u3068\u30d0\u30c3\u30af\u30ef\u30fc\u30c7\u30fc\u30b7\u30e7\u30f3<\/h3>\n<p>\u73fe\u7269\u4fa1\u683c\u3068\u5148\u7269\u4fa1\u683c\u306e\u5dee\u3092<strong>\u30d9\u30fc\u30b7\u30b9<\/strong>\u3068\u547c\u3073\u307e\u3059\u3002\u73fe\u7269\u4fa1\u683c\u304c\u5148\u7269\u4fa1\u683c\u3088\u308a\u9ad8\u3044\u72b6\u614b\u304c<strong>\u30d0\u30c3\u30af\u30ef\u30fc\u30c7\u30fc\u30b7\u30e7\u30f3<\/strong>\u3001\u4f4e\u3044\u72b6\u614b\u304c<strong>\u30b3\u30f3\u30bf\u30f3\u30b4<\/strong>\u3067\u3001\u540c\u4e00\u5546\u54c1\u306e\u7570\u306a\u308b\u9650\u6708\u9593\u306e\u95a2\u4fc2\u306b\u3082\u4f7f\u308f\u308c\u307e\u3059\u3002<\/p>\n<ul>\n<li>\u30d0\u30c3\u30af\u30ef\u30fc\u30c7\u30fc\u30b7\u30e7\u30f3\uff1a\u73fe\u7269\u4fa1\u683c \uff1e \u5148\u7269\u4fa1\u683c\uff08\u53f3\u4e0b\u304c\u308a\u306e\u5148\u7269\u30ab\u30fc\u30d6\uff09<\/li>\n<li>\u30b3\u30f3\u30bf\u30f3\u30b4\uff1a\u73fe\u7269\u4fa1\u683c \uff1c \u5148\u7269\u4fa1\u683c\uff08\u53f3\u4e0a\u304c\u308a\u306e\u5148\u7269\u30ab\u30fc\u30d6\uff09<\/li>\n<li>\u4fdd\u7ba1\u30b3\u30b9\u30c8\u304c\u5927\u304d\u304f\u5728\u5eab\u304c\u6f64\u6ca2\u3060\u3068\u30b3\u30f3\u30bf\u30f3\u30b4\u306b\u306a\u308a\u3084\u3059\u3044<\/li>\n<li>\u5728\u5eab\u304c\u903c\u8feb\u3057\u30b3\u30f3\u30d3\u30cb\u30a8\u30f3\u30b9\u30fb\u30a4\u30fc\u30eb\u30c9\u304c\u9ad8\u3044\u3068\u30d0\u30c3\u30af\u30ef\u30fc\u30c7\u30fc\u30b7\u30e7\u30f3\u306b\u306a\u308a\u3084\u3059\u3044<\/li>\n<li>\u6c7a\u6e08\u65b9\u6cd5\u306f\u73fe\u91d1\u6c7a\u6e08\u3068\u73fe\u7269\u53d7\u6e21\u3057\u304c\u3042\u308b<\/li>\n<\/ul>\n<div class=\"cfalm-f\">\u5148\u7269\u4fa1\u683c \u2248 \u73fe\u7269\u4fa1\u683c \u00d7\uff081 \uff0b r\uff09\uff0b \u4fdd\u7ba1\u30b3\u30b9\u30c8 \u2212 \u30b3\u30f3\u30d3\u30cb\u30a8\u30f3\u30b9\u30fb\u30a4\u30fc\u30eb\u30c9<\/div>\n<h3>LOS 6\uff1a\u30b3\u30e2\u30c7\u30a3\u30c6\u30a3\u5148\u7269\u30ea\u30bf\u30fc\u30f3\u306e\u7406\u8ad6<\/h3>\n<p>\u5148\u7269\u30ea\u30bf\u30fc\u30f3\u3092\u8aac\u660e\u3059\u308b\u4e3b\u306a\u7406\u8ad6\u306b\u306f<strong>\u4fdd\u967a\u7406\u8ad6<\/strong>\u3001<strong>\u30d8\u30c3\u30b8\u30f3\u30b0\u30fb\u30d7\u30ec\u30c3\u30b7\u30e3\u30fc\u4eee\u8aac<\/strong>\u3001<strong>\u4fdd\u7ba1\u7406\u8ad6<\/strong>\u306e3\u3064\u304c\u3042\u308a\u307e\u3059\u3002\u305d\u308c\u305e\u308c\u3001\u5148\u7269\u30ab\u30fc\u30d6\u304c\u30b3\u30f3\u30bf\u30f3\u30b4\u30fb\u30d0\u30c3\u30af\u30ef\u30fc\u30c7\u30fc\u30b7\u30e7\u30f3\u306e\u3069\u3061\u3089\u306b\u306a\u308a\u3084\u3059\u3044\u304b\u306e\u8aac\u660e\u304c\u7570\u306a\u308a\u307e\u3059\u3002<\/p>\n<ul>\n<li>\u4fdd\u967a\u7406\u8ad6\uff08\u30b1\u30a4\u30f3\u30ba\uff09\uff1a\u751f\u7523\u8005\u304c\u58f2\u308a\u30d8\u30c3\u30b8\u306e\u305f\u3081\u306b\u5148\u7269\u3092\u5272\u5b89\u306b\u58f2\u308a\u3001\u8cb7\u3044\u624b\u304c\u30ea\u30b9\u30af\u30fb\u30d7\u30ec\u30df\u30a2\u30e0\u3092\u5f97\u308b\uff08\u30ce\u30fc\u30de\u30eb\u30fb\u30d0\u30c3\u30af\u30ef\u30fc\u30c7\u30fc\u30b7\u30e7\u30f3\uff09<\/li>\n<li>\u30d8\u30c3\u30b8\u30f3\u30b0\u30fb\u30d7\u30ec\u30c3\u30b7\u30e3\u30fc\u4eee\u8aac\uff1a\u751f\u7523\u8005\u306e\u58f2\u308a\u30d8\u30c3\u30b8\u304c\u591a\u3051\u308c\u3070\u30d0\u30c3\u30af\u30ef\u30fc\u30c7\u30fc\u30b7\u30e7\u30f3\u3001\u6d88\u8cbb\u8005\u306e\u8cb7\u3044\u30d8\u30c3\u30b8\u304c\u591a\u3051\u308c\u3070\u30b3\u30f3\u30bf\u30f3\u30b4<\/li>\n<li>\u4fdd\u7ba1\u7406\u8ad6\uff1a\u5728\u5eab\u6c34\u6e96\u3068\u4fdd\u7ba1\u30b3\u30b9\u30c8\u3001\u30b3\u30f3\u30d3\u30cb\u30a8\u30f3\u30b9\u30fb\u30a4\u30fc\u30eb\u30c9\u306e\u95a2\u4fc2\u304b\u3089\u5148\u7269\u30ab\u30fc\u30d6\u306e\u5f62\u3092\u8aac\u660e<\/li>\n<li>\u5728\u5eab\u304c\u5c11\u306a\u3044\u307b\u3069\u30b3\u30f3\u30d3\u30cb\u30a8\u30f3\u30b9\u30fb\u30a4\u30fc\u30eb\u30c9\u304c\u9ad8\u307e\u308a\u3001\u30d0\u30c3\u30af\u30ef\u30fc\u30c7\u30fc\u30b7\u30e7\u30f3\u306b\u306a\u308a\u3084\u3059\u3044<\/li>\n<\/ul>\n<h3>LOS 7\uff1a\u5148\u7269\u306e\u30c8\u30fc\u30bf\u30eb\u30fb\u30ea\u30bf\u30fc\u30f3\u306e\u69cb\u6210\u8981\u7d20<\/h3>\n<p>\u5b8c\u5168\u62c5\u4fdd\u4ed8\u304d\uff08\u8a3c\u62e0\u91d1\u3067\u306f\u306a\u304f\u60f3\u5b9a\u5143\u672c\u5168\u984d\u3092\u62c5\u4fdd\u3068\u3057\u3066\u4fdd\u6709\uff09\u306e\u5148\u7269\u30dd\u30b8\u30b7\u30e7\u30f3\u306e\u30c8\u30fc\u30bf\u30eb\u30fb\u30ea\u30bf\u30fc\u30f3\u306f\u3001<strong>\u4fa1\u683c\u30ea\u30bf\u30fc\u30f3<\/strong>\u3001<strong>\u30ed\u30fc\u30eb\u30fb\u30ea\u30bf\u30fc\u30f3<\/strong>\u3001<strong>\u62c5\u4fdd\u30ea\u30bf\u30fc\u30f3<\/strong>\u306b\u5206\u89e3\u3067\u304d\u307e\u3059\u3002\u6307\u6570\u3067\u306f<strong>\u30ea\u30d0\u30e9\u30f3\u30b9\u30fb\u30ea\u30bf\u30fc\u30f3<\/strong>\u304c\u52a0\u308f\u308a\u307e\u3059\u3002<\/p>\n<ul>\n<li>\u4fa1\u683c\u30ea\u30bf\u30fc\u30f3\uff1a\u5148\u7269\u4fa1\u683c\u305d\u306e\u3082\u306e\u306e\u5909\u5316<\/li>\n<li>\u30ed\u30fc\u30eb\u30fb\u30ea\u30bf\u30fc\u30f3\uff1a\u6e80\u671f\u304c\u8fd1\u3044\u9650\u6708\u304b\u3089\u6b21\u306e\u9650\u6708\u306b\u4e57\u308a\u63db\u3048\u308b\u969b\u306b\u751f\u3058\u308b\u640d\u76ca<\/li>\n<li>\u62c5\u4fdd\u30ea\u30bf\u30fc\u30f3\uff1a\u62c5\u4fdd\u3068\u3057\u3066\u4fdd\u6709\u3059\u308b\u77ed\u671f\u56fd\u50b5\u306a\u3069\u306e\u5229\u56de\u308a<\/li>\n<li>\u30ea\u30d0\u30e9\u30f3\u30b9\u30fb\u30ea\u30bf\u30fc\u30f3\uff1a\u6307\u6570\u306e\u69cb\u6210\u30a6\u30a8\u30a4\u30c8\u3092\u623b\u3059\u53d6\u5f15\u304b\u3089\u751f\u3058\u308b<\/li>\n<\/ul>\n<div class=\"cfalm-f\">\u30c8\u30fc\u30bf\u30eb\u30fb\u30ea\u30bf\u30fc\u30f3 \uff1d \u4fa1\u683c\u30ea\u30bf\u30fc\u30f3 \uff0b \u30ed\u30fc\u30eb\u30fb\u30ea\u30bf\u30fc\u30f3 \uff0b \u62c5\u4fdd\u30ea\u30bf\u30fc\u30f3\uff08\uff0b \u30ea\u30d0\u30e9\u30f3\u30b9\u30fb\u30ea\u30bf\u30fc\u30f3\uff09<\/div>\n<h3>LOS 8\uff1a\u30b3\u30f3\u30bf\u30f3\u30b4\u3068\u30d0\u30c3\u30af\u30ef\u30fc\u30c7\u30fc\u30b7\u30e7\u30f3\u306e\u30ed\u30fc\u30eb\u30fb\u30ea\u30bf\u30fc\u30f3<\/h3>\n<p>\u30ed\u30fc\u30eb\u30fb\u30ea\u30bf\u30fc\u30f3\u306f\u5148\u7269\u30ab\u30fc\u30d6\u306e\u5f62\u72b6\u3067\u7b26\u53f7\u304c\u6c7a\u307e\u308a\u307e\u3059\u3002<strong>\u30d0\u30c3\u30af\u30ef\u30fc\u30c7\u30fc\u30b7\u30e7\u30f3\u3067\u306f\u30d7\u30e9\u30b9<\/strong>\u3001<strong>\u30b3\u30f3\u30bf\u30f3\u30b4\u3067\u306f\u30de\u30a4\u30ca\u30b9<\/strong>\u306b\u306a\u308b\u306e\u304c\u57fa\u672c\u3067\u3059\u3002<\/p>\n<ul>\n<li>\u30d0\u30c3\u30af\u30ef\u30fc\u30c7\u30fc\u30b7\u30e7\u30f3\uff1a\u5b89\u3044\u671f\u5148\u3092\u8cb7\u3044\u3001\u9ad8\u3044\u671f\u8fd1\u3092\u58f2\u308b\u305f\u3081\u30ed\u30fc\u30eb\u30fb\u30ea\u30bf\u30fc\u30f3\u306f\u30d7\u30e9\u30b9<\/li>\n<li>\u30b3\u30f3\u30bf\u30f3\u30b4\uff1a\u9ad8\u3044\u671f\u5148\u3092\u8cb7\u3044\u3001\u5b89\u3044\u671f\u8fd1\u3092\u58f2\u308b\u305f\u3081\u30ed\u30fc\u30eb\u30fb\u30ea\u30bf\u30fc\u30f3\u306f\u30de\u30a4\u30ca\u30b9<\/li>\n<li>\u30ed\u30fc\u30eb\u30fb\u30ea\u30bf\u30fc\u30f3\u306f\u5148\u7269\u30ab\u30fc\u30d6\u306e\u50be\u304d\u3068\u6e80\u671f\u307e\u3067\u306e\u6642\u9593\u306e\u7d4c\u904e\u3067\u751f\u3058\u308b<\/li>\n<li>\u9577\u671f\u6295\u8cc7\u3067\u306f\u30ed\u30fc\u30eb\u30fb\u30ea\u30bf\u30fc\u30f3\u304c\u30c8\u30fc\u30bf\u30eb\u30fb\u30ea\u30bf\u30fc\u30f3\u306b\u5927\u304d\u304f\u5f71\u97ff\u3059\u308b<\/li>\n<\/ul>\n<div class=\"cfalm-f\">\u30ed\u30fc\u30eb\u30fb\u30ea\u30bf\u30fc\u30f3 \u2252\uff08\u671f\u8fd1\u306e\u5148\u7269\u4fa1\u683c \u2212 \u671f\u5148\u306e\u5148\u7269\u4fa1\u683c\uff09\u00f7 \u671f\u8fd1\u306e\u5148\u7269\u4fa1\u683c<\/div>\n<h3>LOS 9\uff1a\u30b3\u30e2\u30c7\u30a3\u30c6\u30a3\u30fb\u30b9\u30ef\u30c3\u30d7\u306e\u6d3b\u7528<\/h3>\n<p><strong>\u30b3\u30e2\u30c7\u30a3\u30c6\u30a3\u30fb\u30b9\u30ef\u30c3\u30d7<\/strong>\u306f\u3001\u30b3\u30e2\u30c7\u30a3\u30c6\u30a3\u306e\u30ea\u30bf\u30fc\u30f3\u3084\u4fa1\u683c\u3068\u3001\u56fa\u5b9a\u984d\u3084\u91d1\u5229\u306a\u3069\u3092\u4ea4\u63db\u3059\u308b\u5951\u7d04\u3067\u3059\u3002\u5148\u7269\u3092\u81ea\u3089\u7ba1\u7406\u305b\u305a\u306b\u30a8\u30af\u30b9\u30dd\u30fc\u30b8\u30e3\u30fc\u3092\u5f97\u305f\u308a\u3001\u65e2\u5b58\u306e\u30a8\u30af\u30b9\u30dd\u30fc\u30b8\u30e3\u30fc\u3092\u8abf\u6574\u3057\u305f\u308a\u3067\u304d\u307e\u3059\u3002<\/p>\n<ul>\n<li>\u30c8\u30fc\u30bf\u30eb\u30fb\u30ea\u30bf\u30fc\u30f3\u30fb\u30b9\u30ef\u30c3\u30d7\uff1a\u30b3\u30e2\u30c7\u30a3\u30c6\u30a3\u6307\u6570\u306e\u30ea\u30bf\u30fc\u30f3\u3068\u77ed\u671f\u91d1\u5229\uff0b\u30b9\u30d7\u30ec\u30c3\u30c9\u3092\u4ea4\u63db<\/li>\n<li>\u8d85\u904e\u30ea\u30bf\u30fc\u30f3\u30fb\u30b9\u30ef\u30c3\u30d7\uff1a\u6307\u6570\u306e\u8d85\u904e\u30ea\u30bf\u30fc\u30f3\u3092\u53d7\u3051\u53d6\u308a\u3001\u56fa\u5b9a\u306e\u624b\u6570\u6599\u3092\u652f\u6255\u3046<\/li>\n<li>\u30dc\u30e9\u30c6\u30a3\u30ea\u30c6\u30a3\u30fb\u30b9\u30ef\u30c3\u30d7\uff0f\u30d0\u30ea\u30a2\u30f3\u30b9\u30fb\u30b9\u30ef\u30c3\u30d7\uff1a\u5b9f\u73fe\u30dc\u30e9\u30c6\u30a3\u30ea\u30c6\u30a3\uff08\u5206\u6563\uff09\u3068\u56fa\u5b9a\u5024\u3092\u4ea4\u63db<\/li>\n<li>\u30d9\u30fc\u30b7\u30b9\u30fb\u30b9\u30ef\u30c3\u30d7\uff1a2\u3064\u306e\u95a2\u9023\u3059\u308b\u4fa1\u683c\u6307\u6a19\u306e\u5dee\u306b\u5bfe\u3059\u308b\u30a8\u30af\u30b9\u30dd\u30fc\u30b8\u30e3\u30fc<\/li>\n<li>\u30ab\u30a6\u30f3\u30bf\u30fc\u30d1\u30fc\u30c6\u30a3\u30fb\u30ea\u30b9\u30af\u304c\u4f34\u3046<\/li>\n<\/ul>\n<h3>LOS 10\uff1a\u30b3\u30e2\u30c7\u30a3\u30c6\u30a3\u6307\u6570\u306e\u69cb\u7bc9\u3068\u30ea\u30bf\u30fc\u30f3<\/h3>\n<p>\u30b3\u30e2\u30c7\u30a3\u30c6\u30a3\u6307\u6570\u306f<strong>\u69cb\u6210\u9298\u67c4\u306e\u9078\u5b9a<\/strong>\u3001<strong>\u30a6\u30a8\u30a4\u30c8\u4ed8\u3051\u306e\u65b9\u6cd5<\/strong>\u3001<strong>\u30ed\u30fc\u30eb\u306e\u65b9\u6cd5<\/strong>\u3001<strong>\u30ea\u30d0\u30e9\u30f3\u30b9\u306e\u983b\u5ea6<\/strong>\u304c\u6307\u6570\u3054\u3068\u306b\u7570\u306a\u308a\u3001\u3053\u308c\u3089\u304c\u30ea\u30bf\u30fc\u30f3\u306b\u5927\u304d\u304f\u5f71\u97ff\u3057\u307e\u3059\u3002<\/p>\n<ul>\n<li>\u30a6\u30a8\u30a4\u30c8\u4ed8\u3051\uff1a\u751f\u7523\u91cf\u30d9\u30fc\u30b9\u3001\u6d41\u52d5\u6027\u30d9\u30fc\u30b9\u3001\u5747\u7b49\u30a6\u30a8\u30a4\u30c8\u306a\u3069<\/li>\n<li>\u30a8\u30cd\u30eb\u30ae\u30fc\u306e\u6bd4\u7387\u304c\u9ad8\u3044\u6307\u6570\u306f\u30a8\u30cd\u30eb\u30ae\u30fc\u4fa1\u683c\u306e\u5f71\u97ff\u3092\u5f37\u304f\u53d7\u3051\u308b<\/li>\n<li>\u30ed\u30fc\u30eb\u65b9\u6cd5\uff1a\u671f\u8fd1\u3092\u6a5f\u68b0\u7684\u306b\u30ed\u30fc\u30eb\u3059\u308b\u304b\u3001\u30ab\u30fc\u30d6\u306e\u5f62\u306b\u5fdc\u3058\u3066\u9650\u6708\u3092\u9078\u3076\u304b<\/li>\n<li>\u30ea\u30d0\u30e9\u30f3\u30b9\u306e\u983b\u5ea6\u306f\u30ea\u30bf\u30fc\u30f3\u3068\u53d6\u5f15\u30b3\u30b9\u30c8\u306b\u5f71\u97ff\u3059\u308b<\/li>\n<li>\u540c\u3058\u300c\u30b3\u30e2\u30c7\u30a3\u30c6\u30a3\u6307\u6570\u300d\u3067\u3082\u4e2d\u8eab\u306e\u9055\u3044\u3067\u6210\u679c\u304c\u5927\u304d\u304f\u7570\u306a\u308b<\/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\/level2movie\/\" target=\"_blank\" rel=\"noopener\">Level 2 \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\">\u6b21\u306e\u5358\u5143\uff1a<a href=\"https:\/\/triumphmind.com\/cfa\/2026\/09\/22\/cfa-l2-alt-lm2\/\">LM2 Overview of Types of Real Estate Investment\uff08\u4e0d\u52d5\u7523\u6295\u8cc7\u306e\u7a2e\u985e\uff09<\/a><br \/>\n\u5168\u4f53\u306e\u76ee\u6b21\uff1a<a href=\"https:\/\/triumphmind.com\/cfa\/cfa-curriculum\/#l2-alt\">CFA\u00ae\ufe0e \u5b66\u7fd2\u5185\u5bb9\u306e\u76ee\u6b21\uff08Level 2 Alternative Investments\uff09<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"<p>CFA\u00ae\ufe0e Level 2 Alternative Investments LM1\u300cIntroduction to Commodities and Commodity Derivatives\uff08\u30b3\u30e2\u30c7\u30a3\u30c6\u30a3\u3068\u30c7\u30ea\u30d0\u30c6\u30a3\u30d6\u5165\u9580\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":11196,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jin_ogp_image_url":"","_jin_last_featured_id":0,"footnotes":""},"categories":[99],"tags":[],"class_list":["post-10850","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-level2-topics"],"_links":{"self":[{"href":"https:\/\/triumphmind.com\/cfa\/wp-json\/wp\/v2\/posts\/10850","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=10850"}],"version-history":[{"count":2,"href":"https:\/\/triumphmind.com\/cfa\/wp-json\/wp\/v2\/posts\/10850\/revisions"}],"predecessor-version":[{"id":11346,"href":"https:\/\/triumphmind.com\/cfa\/wp-json\/wp\/v2\/posts\/10850\/revisions\/11346"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/triumphmind.com\/cfa\/wp-json\/wp\/v2\/media\/11196"}],"wp:attachment":[{"href":"https:\/\/triumphmind.com\/cfa\/wp-json\/wp\/v2\/media?parent=10850"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/triumphmind.com\/cfa\/wp-json\/wp\/v2\/categories?post=10850"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/triumphmind.com\/cfa\/wp-json\/wp\/v2\/tags?post=10850"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}