{"id":10871,"date":"2026-09-22T06:00:00","date_gmt":"2026-09-21T21:00:00","guid":{"rendered":"https:\/\/triumphmind.com\/cfa\/2026\/09\/22\/cfa-l3-aa-lm3\/"},"modified":"2026-09-22T07:08:00","modified_gmt":"2026-09-21T22:08:00","slug":"cfa-l3-aa-lm3","status":"publish","type":"post","link":"https:\/\/triumphmind.com\/cfa\/2026\/09\/22\/cfa-l3-aa-lm3\/","title":{"rendered":"\u3010CFA\u00ae\ufe0e L3 Asset Allocation LM3\u3011Overview of Asset Allocation \u3092\u8981\u70b9\u89e3\u8aac\uff5c\u6295\u8cc7\u30ac\u30d0\u30ca\u30f3\u30b9\u30fb\u7d4c\u6e08\u7684\u30d0\u30e9\u30f3\u30b9\u30b7\u30fc\u30c8\u30fb\u30a2\u30bb\u30c3\u30c8\u30fb\u30aa\u30f3\u30ea\u30fc\uff0f\u8ca0\u50b5\u5bfe\u6bd4\uff0f\u30b4\u30fc\u30eb\u30fb\u30d9\u30fc\u30b9\u30fb\u30ea\u30d0\u30e9\u30f3\u30b9"},"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 3\u300cOverview of Asset Allocation\uff08\u30a2\u30bb\u30c3\u30c8\u30fb\u30a2\u30ed\u30b1\u30fc\u30b7\u30e7\u30f3\u306e\u6982\u8981\uff09\u300d\u306f\u3001\u6295\u8cc7\u30ac\u30d0\u30ca\u30f3\u30b9\u3001\u7d4c\u6e08\u7684\u30d0\u30e9\u30f3\u30b9\u30b7\u30fc\u30c8\u3001\u30a2\u30bb\u30c3\u30c8\u30fb\u30aa\u30f3\u30ea\u30fc\u30fb\u8ca0\u50b5\u5bfe\u6bd4\u30fb\u30b4\u30fc\u30eb\u30fb\u30d9\u30fc\u30b9\u306e3\u3064\u306e\u30a2\u30d7\u30ed\u30fc\u30c1\u306e\u76ee\u7684\u3068\u30ea\u30b9\u30af\u6982\u5ff5\u3001\u8cc7\u7523\u30af\u30e9\u30b9\u3068\u30ea\u30b9\u30af\u30fb\u30d5\u30a1\u30af\u30bf\u30fc\u3001\u30b0\u30ed\u30fc\u30d0\u30eb\u5e02\u5834\u30dd\u30fc\u30c8\u30d5\u30a9\u30ea\u30aa\u3001\u30d1\u30c3\u30b7\u30d6\u30fb\u30a2\u30af\u30c6\u30a3\u30d6\u306e\u5b9f\u884c\u4e0a\u306e\u9078\u629e\u3001\u30ea\u30d0\u30e9\u30f3\u30b9\u306e\u6226\u7565\u7684\u8003\u616e\u4e8b\u9805\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>LM3\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\u3002LM3\u306b\u306f10\u500b\u306eLOS\u304c\u3042\u308a\u307e\u3059\u3002<\/p>\n<ol class=\"cfalm-los\">\n<li><span class=\"ja\">LOS 1\uff1a\u52b9\u679c\u7684\u306a\u6295\u8cc7\u30ac\u30d0\u30ca\u30f3\u30b9\u306e\u8981\u7d20\u3068\u3001\u30a2\u30bb\u30c3\u30c8\u30fb\u30a2\u30ed\u30b1\u30fc\u30b7\u30e7\u30f3\u306b\u304a\u3051\u308b\u6295\u8cc7\u30ac\u30d0\u30ca\u30f3\u30b9\u4e0a\u306e\u8003\u616e\u4e8b\u9805\u3092\u8aac\u660e\u3059\u308b<\/span><span class=\"en\">describe elements of effective investment governance and investment governance considerations in asset allocation<\/span><\/li>\n<li><span class=\"ja\">LOS 2\uff1a\u9867\u5ba2\u306e\u7d4c\u6e08\u7684\u30d0\u30e9\u30f3\u30b9\u30b7\u30fc\u30c8\u3092\u4f5c\u6210\u3057\u3001\u30a2\u30bb\u30c3\u30c8\u30fb\u30a2\u30ed\u30b1\u30fc\u30b7\u30e7\u30f3\u3078\u306e\u542b\u610f\u3092\u89e3\u91c8\u3059\u308b<\/span><span class=\"en\">formulate an economic balance sheet for a client and interpret its implications for asset allocation<\/span><\/li>\n<li><span class=\"ja\">LOS 3\uff1a\u30a2\u30bb\u30c3\u30c8\u30fb\u30aa\u30f3\u30ea\u30fc\u3001\u8ca0\u50b5\u5bfe\u6bd4\u3001\u30b4\u30fc\u30eb\u30fb\u30d9\u30fc\u30b9\u306e\u30a2\u30bb\u30c3\u30c8\u30fb\u30a2\u30ed\u30b1\u30fc\u30b7\u30e7\u30f3\u30fb\u30a2\u30d7\u30ed\u30fc\u30c1\u306e\u6295\u8cc7\u76ee\u7684\u3092\u6bd4\u8f03\u3059\u308b<\/span><span class=\"en\">compare the investment objectives of asset-only, liability-relative, and goals-based asset allocation approaches<\/span><\/li>\n<li><span class=\"ja\">LOS 4\uff1a\u30a2\u30bb\u30c3\u30c8\u30fb\u30aa\u30f3\u30ea\u30fc\u3001\u8ca0\u50b5\u5bfe\u6bd4\u3001\u30b4\u30fc\u30eb\u30fb\u30d9\u30fc\u30b9\u306e\u30a2\u30bb\u30c3\u30c8\u30fb\u30a2\u30ed\u30b1\u30fc\u30b7\u30e7\u30f3\u30fb\u30a2\u30d7\u30ed\u30fc\u30c1\u306b\u95a2\u9023\u3059\u308b\u30ea\u30b9\u30af\u306e\u6982\u5ff5\u3092\u5bfe\u6bd4\u3059\u308b<\/span><span class=\"en\">contrast concepts of risk relevant to asset-only, liability-relative, and goals-based asset allocation approaches<\/span><\/li>\n<li><span class=\"ja\">LOS 5\uff1a\u8cc7\u7523\u30af\u30e9\u30b9\u304c\u30b7\u30b9\u30c6\u30de\u30c6\u30a3\u30c3\u30af\u30fb\u30ea\u30b9\u30af\u3078\u306e\u30a8\u30af\u30b9\u30dd\u30fc\u30b8\u30e3\u30fc\u3092\u8868\u3059\u305f\u3081\u306b\u3069\u306e\u3088\u3046\u306b\u4f7f\u308f\u308c\u308b\u304b\u3092\u8aac\u660e\u3057\u3001\u8cc7\u7523\u30af\u30e9\u30b9\u306e\u5b9a\u7fa9\u306e\u57fa\u6e96\u3092\u8ad6\u3058\u308b<\/span><span class=\"en\">explain how asset classes are used to represent exposures to systematic risk and discuss criteria for asset class specification<\/span><\/li>\n<li><span class=\"ja\">LOS 6\uff1a\u30a2\u30bb\u30c3\u30c8\u30fb\u30a2\u30ed\u30b1\u30fc\u30b7\u30e7\u30f3\u306b\u304a\u3051\u308b\u30ea\u30b9\u30af\u30fb\u30d5\u30a1\u30af\u30bf\u30fc\u306e\u5229\u7528\u3068\u3001\u4f1d\u7d71\u7684\u306a\u8cc7\u7523\u30af\u30e9\u30b9\u30fb\u30d9\u30fc\u30b9\u306e\u30a2\u30d7\u30ed\u30fc\u30c1\u3068\u306e\u95a2\u4fc2\u3092\u8aac\u660e\u3059\u308b<\/span><span class=\"en\">explain the use of risk factors in asset allocation and their relation to traditional asset class\u2013based approaches<\/span><\/li>\n<li><span class=\"ja\">LOS 7\uff1a\u6295\u8cc7\u5bb6\u306e\u76ee\u7684\u3068\u5236\u7d04\u306b\u57fa\u3065\u3044\u3066\u30a2\u30bb\u30c3\u30c8\u30fb\u30a2\u30ed\u30b1\u30fc\u30b7\u30e7\u30f3\u3092\u63a8\u5968\u30fb\u6b63\u5f53\u5316\u3059\u308b<\/span><span class=\"en\">recommend and justify an asset allocation based on an investor\u2019s objectives and constraints<\/span><\/li>\n<li><span class=\"ja\">LOS 8\uff1a\u30a2\u30bb\u30c3\u30c8\u30fb\u30a2\u30ed\u30b1\u30fc\u30b7\u30e7\u30f3\u306e\u57fa\u6e96\u30dd\u30fc\u30c8\u30d5\u30a9\u30ea\u30aa\u3068\u3057\u3066\u306e\u30b0\u30ed\u30fc\u30d0\u30eb\u5e02\u5834\u30dd\u30fc\u30c8\u30d5\u30a9\u30ea\u30aa\u306e\u5229\u7528\u3092\u8aac\u660e\u3059\u308b<\/span><span class=\"en\">describe the use of the global market portfolio as a baseline portfolio in asset allocation<\/span><\/li>\n<li><span class=\"ja\">LOS 9\uff1a\u30d1\u30c3\u30b7\u30d6\uff0f\u30a2\u30af\u30c6\u30a3\u30d6\u306e\u9078\u629e\u3084\u3001\u30d1\u30c3\u30b7\u30d6\u30fb\u30a2\u30af\u30c6\u30a3\u30d6\u904b\u7528\u3092\u5b9f\u884c\u3059\u308b\u624b\u6bb5\u306a\u3069\u3001\u30a2\u30bb\u30c3\u30c8\u30fb\u30a2\u30ed\u30b1\u30fc\u30b7\u30e7\u30f3\u306e\u6226\u7565\u7684\u306a\u5b9f\u884c\u4e0a\u306e\u9078\u629e\u3092\u8ad6\u3058\u308b<\/span><span class=\"en\">discuss strategic implementation choices in asset allocation, including passive\/ active choices and vehicles for implementing passive and active mandates<\/span><\/li>\n<li><span class=\"ja\">LOS 10\uff1a\u30a2\u30bb\u30c3\u30c8\u30fb\u30a2\u30ed\u30b1\u30fc\u30b7\u30e7\u30f3\u306e\u30ea\u30d0\u30e9\u30f3\u30b9\u306b\u304a\u3051\u308b\u6226\u7565\u7684\u8003\u616e\u4e8b\u9805\u3092\u8ad6\u3058\u308b<\/span><span class=\"en\">discuss strategic considerations in rebalancing asset allocations<\/span><\/li>\n<\/ol>\n<h2>LM3\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>\u52b9\u679c\u7684\u306a\u6295\u8cc7\u30ac\u30d0\u30ca\u30f3\u30b9\u306f\u3001\u5fc5\u8981\u306a\u80fd\u529b\u3092\u6301\u3064\u500b\u4eba\u3084\u7d44\u7e54\u304c\u610f\u601d\u6c7a\u5b9a\u3092\u884c\u3046\u3053\u3068\u3092\u78ba\u4fdd\u3057\u3001\u76ee\u7684\u306e\u660e\u78ba\u5316\u3001\u610f\u601d\u6c7a\u5b9a\u6a29\u9650\u306e\u914d\u5206\u3001IPS\u3068\u6226\u7565\u7684\u8cc7\u7523\u914d\u5206\u306e\u7b56\u5b9a\u30fb\u627f\u8a8d\u30d7\u30ed\u30bb\u30b9\u3001\u5831\u544a\u4f53\u5236\u3001\u5b9a\u671f\u7684\u306a\u30ac\u30d0\u30ca\u30f3\u30b9\u76e3\u67fb\u3092\u542b\u3080<\/li>\n<li>\u7d4c\u6e08\u7684\u30d0\u30e9\u30f3\u30b9\u30b7\u30fc\u30c8\u306f\u4eba\u7684\u8cc7\u672c\u306a\u3069\u306e\u975e\u91d1\u878d\u8cc7\u7523\u3084\u5c06\u6765\u306e\u8ca0\u50b5\u3092\u542b\u307f\u3001\u6700\u9069\u306a\u8cc7\u7523\u914d\u5206\u306e\u5224\u65ad\u306b\u5f79\u7acb\u3064<\/li>\n<li>\u30a2\u30bb\u30c3\u30c8\u30fb\u30aa\u30f3\u30ea\u30fc\u306f\u8cc7\u7523\u5074\u3001\u8ca0\u50b5\u5bfe\u6bd4\u306f\u8ca0\u50b5\u306e\u7a4d\u7acb\u3001\u30b4\u30fc\u30eb\u30fb\u30d9\u30fc\u30b9\u306f\u76ee\u6a19\u306e\u9054\u6210\u306b\u7126\u70b9\u3092\u5f53\u3066\u308b<\/li>\n<li>\u30ea\u30b9\u30af\u306e\u6982\u5ff5\u3082\u3001\u30a2\u30bb\u30c3\u30c8\u30fb\u30aa\u30f3\u30ea\u30fc\u306f\u8cc7\u7523\u306e\u30ea\u30b9\u30af\u3001\u8ca0\u50b5\u5bfe\u6bd4\u306f\u8ca0\u50b5\u306e\u652f\u6255\u3044\u306b\u95a2\u3059\u308b\u30ea\u30b9\u30af\u3001\u30b4\u30fc\u30eb\u30fb\u30d9\u30fc\u30b9\u306f\u76ee\u6a19\u3092\u9054\u6210\u3067\u304d\u306a\u3044\u78ba\u7387\u306b\u7126\u70b9<\/li>\n<li>\u8cc7\u7523\u30af\u30e9\u30b9\u306f\u540c\u8cea\u3067\u3001\u76f8\u4e92\u306b\u6392\u4ed6\u7684\u3067\u3001\u5206\u6563\u52b9\u679c\u304c\u3042\u308a\u3001\u5168\u4f53\u3068\u3057\u3066\u4e16\u754c\u306e\u6295\u8cc7\u53ef\u80fd\u306a\u5bcc\u306e\u5927\u90e8\u5206\u3092\u5360\u3081\u3001\u5341\u5206\u306a\u5bb9\u91cf\u3092\u6301\u3064\u3079\u304d<\/li>\n<li>\u30ea\u30b9\u30af\u30fb\u30d5\u30a1\u30af\u30bf\u30fc\u306f\u5206\u6563\u3067\u304d\u306a\u3044\u30b7\u30b9\u30c6\u30de\u30c6\u30a3\u30c3\u30af\u30fb\u30ea\u30b9\u30af\u3067\u671f\u5f85\u30ea\u30bf\u30fc\u30f3\u30fb\u30d7\u30ec\u30df\u30a2\u30e0\u3092\u4f34\u3044\u3001\u8cc7\u7523\u30af\u30e9\u30b9\u306f\u8907\u6570\u306e\u30d5\u30a1\u30af\u30bf\u30fc\u3092\u53cd\u6620\u3059\u308b<\/li>\n<li>\u30b0\u30ed\u30fc\u30d0\u30eb\u5e02\u5834\u30dd\u30fc\u30c8\u30d5\u30a9\u30ea\u30aa\u306f\u30a2\u30bb\u30c3\u30c8\u30fb\u30aa\u30f3\u30ea\u30fc\u306e\u57fa\u6e96\u3068\u306a\u308b\u9ad8\u5ea6\u306b\u5206\u6563\u3057\u305f\u8cc7\u7523\u914d\u5206<\/li>\n<li>\u30ea\u30d0\u30e9\u30f3\u30b9\u306b\u306f\u30ab\u30ec\u30f3\u30c0\u30fc\u30fb\u30ea\u30d0\u30e9\u30f3\u30b9\u3068\u30ec\u30f3\u30b8\uff08\u30b3\u30ea\u30c9\u30fc\uff09\u30fb\u30ea\u30d0\u30e9\u30f3\u30b9\u304c\u3042\u308a\u3001\u53d6\u5f15\u30b3\u30b9\u30c8\u3001\u30ea\u30b9\u30af\u56de\u907f\u5ea6\u3001\u76f8\u95a2\u3001\u30dc\u30e9\u30c6\u30a3\u30ea\u30c6\u30a3\u3001\u30e2\u30e1\u30f3\u30bf\u30e0\u3001\u7a0e\u3001\u6d41\u52d5\u6027\u304c\u8003\u616e\u4e8b\u9805<\/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\u6295\u8cc7\u30ac\u30d0\u30ca\u30f3\u30b9\u306e\u8981\u7d20<\/h3>\n<p>\u52b9\u679c\u7684\u306a<strong>\u6295\u8cc7\u30ac\u30d0\u30ca\u30f3\u30b9<\/strong>\u3068\u306f\u3001\u9069\u5207\u306a\u80fd\u529b\u3092\u6301\u3064\u8005\u304c\u610f\u601d\u6c7a\u5b9a\u3092\u884c\u3046\u4ed5\u7d44\u307f\u3067\u3059\u3002\u9577\u671f\u30fb\u77ed\u671f\u306e\u76ee\u7684\u3092\u660e\u78ba\u306b\u3057\u3001\u7d71\u6cbb\u968e\u5c64\u306e\u5404\u90e8\u9580\u306b<strong>\u610f\u601d\u6c7a\u5b9a\u306e\u6a29\u9650\u3068\u8cac\u4efb<\/strong>\u3092\u9069\u5207\u306b\u914d\u5206\u3057\u307e\u3059\u3002<\/p>\n<ul>\n<li>\u9577\u671f\u30fb\u77ed\u671f\u306e\u6295\u8cc7\u76ee\u7684\u306e\u660e\u78ba\u5316<\/li>\n<li>\u610f\u601d\u6c7a\u5b9a\u6a29\u9650\u306e\u914d\u5206\uff08\u77e5\u8b58\u30fb\u80fd\u529b\u30fb\u6642\u9593\u30fb\u7acb\u5834\u3092\u8003\u616e\uff09<\/li>\n<li>IPS\uff08\u6295\u8cc7\u65b9\u91dd\u66f8\uff09\u306e\u7b56\u5b9a\u30fb\u627f\u8a8d\u30d7\u30ed\u30bb\u30b9<\/li>\n<li>\u6226\u7565\u7684\u8cc7\u7523\u914d\u5206\u306e\u7b56\u5b9a\u30fb\u627f\u8a8d\u30d7\u30ed\u30bb\u30b9<\/li>\n<li>\u9032\u6357\u3092\u76e3\u8996\u3059\u308b\u5831\u544a\u4f53\u5236<\/li>\n<li>\u5b9a\u671f\u7684\u306a\u30ac\u30d0\u30ca\u30f3\u30b9\u76e3\u67fb<\/li>\n<\/ul>\n<h3>LOS 2\uff1a\u7d4c\u6e08\u7684\u30d0\u30e9\u30f3\u30b9\u30b7\u30fc\u30c8<\/h3>\n<p><strong>\u7d4c\u6e08\u7684\u30d0\u30e9\u30f3\u30b9\u30b7\u30fc\u30c8<\/strong>\u306f\u3001\u91d1\u878d\u8cc7\u7523\u30fb\u8ca0\u50b5\u306b\u52a0\u3048\u3001<strong>\u4eba\u7684\u8cc7\u672c<\/strong>\u3084\u5c06\u6765\u306e\u6d88\u8cbb\u30fb\u8ca0\u50b5\u306e\u73fe\u5728\u4fa1\u5024\u306a\u3069<strong>\u975e\u91d1\u878d\u306e\u8cc7\u7523\u30fb\u8ca0\u50b5<\/strong>\u3092\u542b\u3081\u305f\u30d0\u30e9\u30f3\u30b9\u30b7\u30fc\u30c8\u3067\u3059\u3002\u3053\u308c\u3092\u8e0f\u307e\u3048\u308b\u3053\u3068\u3067\u3001\u91d1\u878d\u30dd\u30fc\u30c8\u30d5\u30a9\u30ea\u30aa\u306e\u6700\u9069\u306a\u8cc7\u7523\u914d\u5206\u3092\u5224\u65ad\u3067\u304d\u307e\u3059\u3002<\/p>\n<ul>\n<li>\u500b\u4eba\uff1a\u4eba\u7684\u8cc7\u672c\uff08\u5c06\u6765\u306e\u52b4\u50cd\u6240\u5f97\u306e\u73fe\u5728\u4fa1\u5024\uff09\u3001\u5e74\u91d1\u306e\u53d7\u7d66\u6a29\u3001\u4e0d\u52d5\u7523\u306a\u3069<\/li>\n<li>\u500b\u4eba\u306e\u8ca0\u50b5\uff1a\u4f4f\u5b85\u30ed\u30fc\u30f3\u3001\u5c06\u6765\u306e\u751f\u6d3b\u8cbb\u3084\u6559\u80b2\u8cbb\u306e\u73fe\u5728\u4fa1\u5024<\/li>\n<li>\u50b5\u5238\u306b\u8fd1\u3044\u4eba\u7684\u8cc7\u672c\u3092\u6301\u3064\u6295\u8cc7\u5bb6\u306f\u682a\u5f0f\u306e\u6bd4\u7387\u3092\u9ad8\u3081\u3084\u3059\u3044<\/li>\n<li>\u52e4\u52d9\u5148\u306e\u696d\u7e3e\u3068\u9023\u52d5\u3059\u308b\u4eba\u7684\u8cc7\u672c\u304c\u3042\u308b\u5834\u5408\u306f\u540c\u696d\u7a2e\u682a\u5f0f\u3092\u907f\u3051\u308b<\/li>\n<li>\u6a5f\u95a2\u6295\u8cc7\u5bb6\uff1a\u5c06\u6765\u306e\u62e0\u51fa\u3084\u5bc4\u4ed8\u3001\u30b9\u30dd\u30f3\u30b5\u30fc\u306e\u652f\u63f4\u306a\u3069\u3082\u542b\u3080<\/li>\n<\/ul>\n<div class=\"cfalm-f\">\u7d4c\u6e08\u7684\u7d14\u8cc7\u7523 \uff1d\uff08\u91d1\u878d\u8cc7\u7523 \uff0b \u975e\u91d1\u878d\u8cc7\u7523\uff09\u2212\uff08\u91d1\u878d\u8ca0\u50b5 \uff0b \u975e\u91d1\u878d\u8ca0\u50b5\uff09<\/div>\n<h3>LOS 3\uff1a3\u3064\u306e\u30a2\u30d7\u30ed\u30fc\u30c1\u306e\u6295\u8cc7\u76ee\u7684<\/h3>\n<p><strong>\u30a2\u30bb\u30c3\u30c8\u30fb\u30aa\u30f3\u30ea\u30fc<\/strong>\u306f\u8cc7\u7523\u306e\u30ea\u30b9\u30af\u30fb\u30ea\u30bf\u30fc\u30f3\u306e\u6700\u9069\u5316\u3001<strong>\u8ca0\u50b5\u5bfe\u6bd4\uff08LDI\uff09<\/strong>\u306f\u8ca0\u50b5\u306e\u7a4d\u7acb\u3001<strong>\u30b4\u30fc\u30eb\u30fb\u30d9\u30fc\u30b9<\/strong>\u306f\u500b\u3005\u306e\u76ee\u6a19\u306e\u9054\u6210\u3092\u76ee\u7684\u3068\u3057\u307e\u3059\u3002<\/p>\n<ul>\n<li>\u30a2\u30bb\u30c3\u30c8\u30fb\u30aa\u30f3\u30ea\u30fc\uff1a\u5e73\u5747\u5206\u6563\u6700\u9069\u5316\u3067\u8cc7\u7523\u30dd\u30fc\u30c8\u30d5\u30a9\u30ea\u30aa\u306e\u52b9\u7387\u6027\u3092\u8ffd\u6c42<\/li>\n<li>\u8ca0\u50b5\u5bfe\u6bd4\uff1a\u8ca0\u50b5\u3092\u8cc4\u3046\uff08\u30b5\u30fc\u30d7\u30e9\u30b9\u306e\u7ba1\u7406\uff09\u3002\u5e74\u91d1\u57fa\u91d1\u3001\u4fdd\u967a\u4f1a\u793e\u3001\u9280\u884c\u306a\u3069<\/li>\n<li>\u30b4\u30fc\u30eb\u30fb\u30d9\u30fc\u30b9\uff1a\u76ee\u6a19\u3054\u3068\u306e\u30b5\u30d6\u30fb\u30dd\u30fc\u30c8\u30d5\u30a9\u30ea\u30aa\u3067\u76ee\u6a19\u3092\u9054\u6210\u3002\u4e3b\u306b\u500b\u4eba<\/li>\n<li>\u3069\u306e\u30a2\u30d7\u30ed\u30fc\u30c1\u3067\u3082\u30ea\u30b9\u30af\u3068\u30ea\u30bf\u30fc\u30f3\u306e\u8003\u3048\u65b9\u304c\u7570\u306a\u308b<\/li>\n<\/ul>\n<h3>LOS 4\uff1a3\u3064\u306e\u30a2\u30d7\u30ed\u30fc\u30c1\u306e\u30ea\u30b9\u30af\u6982\u5ff5<\/h3>\n<p>\u30ea\u30b9\u30af\u306e\u6349\u3048\u65b9\u3082\u7570\u306a\u308a\u307e\u3059\u3002\u30a2\u30bb\u30c3\u30c8\u30fb\u30aa\u30f3\u30ea\u30fc\u3067\u306f<strong>\u8cc7\u7523\u306e\u30dc\u30e9\u30c6\u30a3\u30ea\u30c6\u30a3<\/strong>\u3084\u30d9\u30f3\u30c1\u30de\u30fc\u30af\u5bfe\u6bd4\u306e\u30ea\u30b9\u30af\u3001\u8ca0\u50b5\u5bfe\u6bd4\u3067\u306f<strong>\u30b5\u30fc\u30d7\u30e9\u30b9\u306e\u30dc\u30e9\u30c6\u30a3\u30ea\u30c6\u30a3\u3084\u7a4d\u7acb\u4e0d\u8db3\u306e\u30ea\u30b9\u30af<\/strong>\u3001\u30b4\u30fc\u30eb\u30fb\u30d9\u30fc\u30b9\u3067\u306f<strong>\u76ee\u6a19\u3092\u9054\u6210\u3067\u304d\u306a\u3044\u78ba\u7387<\/strong>\u304c\u91cd\u8996\u3055\u308c\u307e\u3059\u3002<\/p>\n<ul>\n<li>\u30a2\u30bb\u30c3\u30c8\u30fb\u30aa\u30f3\u30ea\u30fc\uff1a\u6a19\u6e96\u504f\u5dee\u3001\u30c8\u30e9\u30c3\u30ad\u30f3\u30b0\u30fb\u30a8\u30e9\u30fc\u3001\u30c0\u30a6\u30f3\u30b5\u30a4\u30c9\u30fb\u30ea\u30b9\u30af<\/li>\n<li>\u8ca0\u50b5\u5bfe\u6bd4\uff1a\u30b5\u30fc\u30d7\u30e9\u30b9\u306e\u30dc\u30e9\u30c6\u30a3\u30ea\u30c6\u30a3\u3001\u7a4d\u7acb\u6bd4\u7387\u306e\u4f4e\u4e0b\u3001\u8ca0\u50b5\u306e\u652f\u6255\u4e0d\u80fd<\/li>\n<li>\u30b4\u30fc\u30eb\u30fb\u30d9\u30fc\u30b9\uff1a\u5404\u76ee\u6a19\u306e\u672a\u9054\u78ba\u7387\uff08\u30b7\u30e3\u30fc\u30c8\u30d5\u30a9\u30fc\u30eb\u30fb\u30ea\u30b9\u30af\uff09<\/li>\n<li>\u30dc\u30e9\u30c6\u30a3\u30ea\u30c6\u30a3\u3088\u308a\u76ee\u7684\u306b\u5373\u3057\u305f\u30ea\u30b9\u30af\u6307\u6a19\u3092\u7528\u3044\u308b<\/li>\n<\/ul>\n<h3>LOS 5\uff1a\u8cc7\u7523\u30af\u30e9\u30b9\u3068\u305d\u306e\u5b9a\u7fa9\u306e\u57fa\u6e96<\/h3>\n<p>\u8cc7\u7523\u30af\u30e9\u30b9\u306f<strong>\u30b7\u30b9\u30c6\u30de\u30c6\u30a3\u30c3\u30af\u30fb\u30ea\u30b9\u30af<\/strong>\u3078\u306e\u30a8\u30af\u30b9\u30dd\u30fc\u30b8\u30e3\u30fc\u3092\u8868\u3059\u305f\u3081\u306e\u4f1d\u7d71\u7684\u306a\u5206\u6790\u5358\u4f4d\u3067\u3059\u3002\u6709\u52b9\u306a\u8cc7\u7523\u30af\u30e9\u30b9\u306b\u306f\u3001\u3044\u304f\u3064\u304b\u306e\u57fa\u6e96\u3092\u6e80\u305f\u3059\u3053\u3068\u304c\u6c42\u3081\u3089\u308c\u307e\u3059\u3002<\/p>\n<ul>\n<li>\u30af\u30e9\u30b9\u5185\u306e\u8cc7\u7523\u306f\u6bd4\u8f03\u7684\u540c\u8cea\u3067\u3042\u308b\u3053\u3068<\/li>\n<li>\u8cc7\u7523\u30af\u30e9\u30b9\u306f\u76f8\u4e92\u306b\u6392\u4ed6\u7684\u3067\u3042\u308b\u3053\u3068<\/li>\n<li>\u8cc7\u7523\u30af\u30e9\u30b9\u306f\u5206\u6563\u52b9\u679c\u3092\u3082\u305f\u3089\u3059\u3053\u3068\uff08\u76f8\u95a2\u304c\u9ad8\u3059\u304e\u306a\u3044\u3053\u3068\uff09<\/li>\n<li>\u5168\u4f53\u3068\u3057\u3066\u4e16\u754c\u306e\u6295\u8cc7\u53ef\u80fd\u306a\u5bcc\u306e\u5927\u90e8\u5206\u3092\u30ab\u30d0\u30fc\u3059\u308b\u3053\u3068<\/li>\n<li>\u6295\u8cc7\u5bb6\u306e\u30dd\u30fc\u30c8\u30d5\u30a9\u30ea\u30aa\u306e\u76f8\u5f53\u90e8\u5206\u3092\u5438\u53ce\u3067\u304d\u308b\u5bb9\u91cf\u304c\u3042\u308b\u3053\u3068<\/li>\n<\/ul>\n<h3>LOS 6\uff1a\u30ea\u30b9\u30af\u30fb\u30d5\u30a1\u30af\u30bf\u30fc\u306e\u5229\u7528<\/h3>\n<p><strong>\u30ea\u30b9\u30af\u30fb\u30d5\u30a1\u30af\u30bf\u30fc<\/strong>\u306f\u5206\u6563\u3067\u304d\u306a\u3044\u30b7\u30b9\u30c6\u30de\u30c6\u30a3\u30c3\u30af\u30fb\u30ea\u30b9\u30af\u3067\u3001\u671f\u5f85\u30ea\u30bf\u30fc\u30f3\u306e\u30d7\u30ec\u30df\u30a2\u30e0\u3092\u4f34\u3044\u307e\u3059\u3002\u8cc7\u7523\u30af\u30e9\u30b9\u306f\u8907\u6570\u306e\u30d5\u30a1\u30af\u30bf\u30fc\u3092\u53cd\u6620\u3059\u308b\u305f\u3081\u3001\u30d5\u30a1\u30af\u30bf\u30fc\u5358\u4f4d\u3067\u914d\u5206\u3059\u308b\u3053\u3068\u3067<strong>\u30ea\u30b9\u30af\u306e\u91cd\u8907<\/strong>\u3092\u628a\u63e1\u3067\u304d\u307e\u3059\u3002<\/p>\n<ul>\n<li>\u4e3b\u306a\u30d5\u30a1\u30af\u30bf\u30fc\uff1a\u30a4\u30f3\u30d5\u30ec\u3001\u5b9f\u8cea\u91d1\u5229\u3001\u666f\u6c17\uff08\u6210\u9577\uff09\u3001\u30dc\u30e9\u30c6\u30a3\u30ea\u30c6\u30a3\u3001\u6d41\u52d5\u6027\u3001\u30af\u30ec\u30b8\u30c3\u30c8\u3001\u30c7\u30e5\u30ec\u30fc\u30b7\u30e7\u30f3\uff08\u671f\u9593\uff09<\/li>\n<li>\u8cc7\u7523\u30af\u30e9\u30b9\u9593\u3067\u30d5\u30a1\u30af\u30bf\u30fc\u304c\u91cd\u8907\u3057\u3066\u3044\u308b\u3068\u898b\u304b\u3051\u307b\u3069\u5206\u6563\u3057\u3066\u3044\u306a\u3044<\/li>\n<li>\u7279\u5b9a\u306e\u30d5\u30a1\u30af\u30bf\u30fc\u3092\u62bd\u51fa\u3059\u308b\u306b\u306f\u30ed\u30f3\u30b0\u30fb\u30b7\u30e7\u30fc\u30c8\u306e\u30b9\u30d7\u30ec\u30c3\u30c9\u30fb\u30dd\u30b8\u30b7\u30e7\u30f3\u304c\u5fc5\u8981\u306a\u3053\u3068\u304c\u3042\u308b<\/li>\n<li>\u30d5\u30a1\u30af\u30bf\u30fc\u30fb\u30d9\u30fc\u30b9\u3068\u8cc7\u7523\u30af\u30e9\u30b9\u30fb\u30d9\u30fc\u30b9\u306f\u540c\u3058\u30dd\u30fc\u30c8\u30d5\u30a9\u30ea\u30aa\u306e\u7570\u306a\u308b\u898b\u65b9<\/li>\n<\/ul>\n<h3>LOS 7\uff1a\u76ee\u7684\u3068\u5236\u7d04\u306b\u57fa\u3065\u304f\u30a2\u30bb\u30c3\u30c8\u30fb\u30a2\u30ed\u30b1\u30fc\u30b7\u30e7\u30f3<\/h3>\n<p>\u6295\u8cc7\u5bb6\u306e<strong>\u76ee\u7684<\/strong>\uff08\u30ea\u30bf\u30fc\u30f3\u3001\u30ea\u30b9\u30af\u8a31\u5bb9\u5ea6\uff09\u3068<strong>\u5236\u7d04<\/strong>\uff08\u6d41\u52d5\u6027\u3001\u671f\u9593\u3001\u7a0e\u3001\u898f\u5236\u3001\u56fa\u6709\u306e\u4e8b\u60c5\uff09\u3092\u8e0f\u307e\u3048\u3001\u9069\u5207\u306a\u30a2\u30d7\u30ed\u30fc\u30c1\u3068\u8cc7\u7523\u914d\u5206\u3092\u9078\u3073\u3001\u305d\u306e\u7406\u7531\u3092\u8aac\u660e\u3067\u304d\u308b\u3053\u3068\u304c\u6c42\u3081\u3089\u308c\u307e\u3059\u3002<\/p>\n<ul>\n<li>\u7d4c\u6e08\u7684\u30d0\u30e9\u30f3\u30b9\u30b7\u30fc\u30c8\u304b\u3089\u4eba\u7684\u8cc7\u672c\u3084\u8ca0\u50b5\u306e\u6027\u8cea\u3092\u628a\u63e1<\/li>\n<li>\u8ca0\u50b5\u304c\u3042\u308b\u6295\u8cc7\u5bb6\u306f\u8ca0\u50b5\u5bfe\u6bd4\u3001\u500b\u4eba\u306e\u8907\u6570\u76ee\u6a19\u306f\u30b4\u30fc\u30eb\u30fb\u30d9\u30fc\u30b9<\/li>\n<li>\u30ea\u30b9\u30af\u8a31\u5bb9\u5ea6\uff08\u80fd\u529b\u3068\u610f\u601d\uff09\u306b\u5fdc\u3058\u3066\u682a\u5f0f\u7b49\u306e\u30ea\u30b9\u30af\u8cc7\u7523\u6bd4\u7387\u3092\u6c7a\u5b9a<\/li>\n<li>\u6d41\u52d5\u6027\u30cb\u30fc\u30ba\u3084\u6295\u8cc7\u671f\u9593\u304b\u3089\u975e\u6d41\u52d5\u8cc7\u7523\u306e\u4e0a\u9650\u3092\u5224\u65ad<\/li>\n<\/ul>\n<h3>LOS 8\uff1a\u30b0\u30ed\u30fc\u30d0\u30eb\u5e02\u5834\u30dd\u30fc\u30c8\u30d5\u30a9\u30ea\u30aa<\/h3>\n<p><strong>\u30b0\u30ed\u30fc\u30d0\u30eb\u5e02\u5834\u30dd\u30fc\u30c8\u30d5\u30a9\u30ea\u30aa<\/strong>\u306f\u3001\u6295\u8cc7\u53ef\u80fd\u306a\u5168\u8cc7\u7523\u3092\u6642\u4fa1\u7dcf\u984d\u3067\u4fdd\u6709\u3059\u308b\u9ad8\u5ea6\u306b\u5206\u6563\u3057\u305f\u30dd\u30fc\u30c8\u30d5\u30a9\u30ea\u30aa\u3067\u3001\u30a2\u30bb\u30c3\u30c8\u30fb\u30aa\u30f3\u30ea\u30fc\u306e\u30a2\u30d7\u30ed\u30fc\u30c1\u306b\u304a\u3051\u308b<strong>\u57fa\u6e96\uff08\u30d9\u30fc\u30b9\u30e9\u30a4\u30f3\uff09<\/strong>\u3068\u3057\u3066\u4f7f\u3048\u307e\u3059\u3002<\/p>\n<ul>\n<li>\u7406\u8ad6\u7684\u306b\u306f\uff08CAPM\u306e\u8003\u3048\u65b9\u3067\uff09\u6700\u3082\u5206\u6563\u3055\u308c\u305f\u30ea\u30b9\u30af\u8cc7\u7523\u30dd\u30fc\u30c8\u30d5\u30a9\u30ea\u30aa<\/li>\n<li>\u975e\u4e0a\u5834\u8cc7\u7523\u306a\u3069\u306e\u5b8c\u5168\u306a\u628a\u63e1\u306f\u56f0\u96e3\u3067\u3001\u4ee3\u7406\u6307\u6a19\u3092\u7528\u3044\u308b<\/li>\n<li>\u51fa\u767a\u70b9\u3068\u3057\u3066\u4f7f\u3044\u3001\u6295\u8cc7\u5bb6\u306e\u4e8b\u60c5\u306b\u5fdc\u3058\u3066\u8abf\u6574<\/li>\n<li>\u30db\u30fc\u30e0\u30fb\u30d0\u30a4\u30a2\u30b9\u304b\u3089\u306e\u4e56\u96e2\u3092\u8a55\u4fa1\u3059\u308b\u57fa\u6e96\u306b\u3082\u306a\u308b<\/li>\n<\/ul>\n<h3>LOS 9\uff1a\u30d1\u30c3\u30b7\u30d6\uff0f\u30a2\u30af\u30c6\u30a3\u30d6\u306e\u6226\u7565\u7684\u306a\u5b9f\u884c\u4e0a\u306e\u9078\u629e<\/h3>\n<p>\u30d1\u30c3\u30b7\u30d6\uff0f\u30a2\u30af\u30c6\u30a3\u30d6\u306e\u9078\u629e\u306b\u306f2\u3064\u306e\u6b21\u5143\u304c\u3042\u308a\u307e\u3059\u30021\u3064\u306f<strong>\u6226\u7565\u7684\u8cc7\u7523\u914d\u5206\u305d\u306e\u3082\u306e\u304b\u3089\u4e56\u96e2\u3059\u308b\u304b<\/strong>\uff08\u6226\u8853\u7684\u30fb\u52d5\u7684\u8cc7\u7523\u914d\u5206\uff09\u3001\u3082\u30461\u3064\u306f<strong>\u5404\u8cc7\u7523\u30af\u30e9\u30b9\u5185\u306e\u904b\u7528\u3092\u30d1\u30c3\u30b7\u30d6\u306b\u3059\u308b\u304b\u30a2\u30af\u30c6\u30a3\u30d6\u306b\u3059\u308b\u304b<\/strong>\u3067\u3059\u3002<\/p>\n<ul>\n<li>\u6226\u8853\u7684\u8cc7\u7523\u914d\u5206\uff08TAA\uff09\uff1a\u77ed\u671f\u306e\u898b\u901a\u3057\u306b\u57fa\u3065\u304d\u914d\u5206\u3092\u4e00\u6642\u7684\u306b\u5909\u66f4<\/li>\n<li>\u52d5\u7684\u8cc7\u7523\u914d\u5206\uff1a\u5e02\u5834\u74b0\u5883\u3084\u8ca0\u50b5\u306e\u5909\u5316\u306b\u5fdc\u3058\u3066\u914d\u5206\u3092\u8abf\u6574<\/li>\n<li>\u30d1\u30c3\u30b7\u30d6\u306e\u624b\u6bb5\uff1a\u30a4\u30f3\u30c7\u30c3\u30af\u30b9\u30fb\u30d5\u30a1\u30f3\u30c9\u3001ETF\u3001\u5148\u7269\u3001\u30b9\u30ef\u30c3\u30d7<\/li>\n<li>\u30a2\u30af\u30c6\u30a3\u30d6\u306e\u624b\u6bb5\uff1a\u30d5\u30a1\u30af\u30bf\u30fc\u30fb\u30c6\u30a3\u30eb\u30c8\u3001\u30a2\u30af\u30c6\u30a3\u30d6\u30fb\u30de\u30cd\u30fc\u30b8\u30e3\u30fc\u3078\u306e\u59d4\u8a17<\/li>\n<li>\u30ea\u30b9\u30af\u30fb\u30d0\u30b8\u30a7\u30c3\u30c8\uff1a\u3069\u306e\u30ea\u30b9\u30af\u3092\u3069\u308c\u3060\u3051\u53d6\u308b\u304b\u3001\u30d9\u30f3\u30c1\u30de\u30fc\u30af\u5bfe\u6bd4\u306e\u30a2\u30af\u30c6\u30a3\u30d6\u30fb\u30ea\u30b9\u30af\u3092\u3069\u308c\u3060\u3051\u8a31\u5bb9\u3059\u308b\u304b<\/li>\n<\/ul>\n<h3>LOS 10\uff1a\u30ea\u30d0\u30e9\u30f3\u30b9\u306e\u6226\u7565\u7684\u8003\u616e\u4e8b\u9805<\/h3>\n<p><strong>\u30ea\u30d0\u30e9\u30f3\u30b9<\/strong>\u306f\u30dd\u30fc\u30c8\u30d5\u30a9\u30ea\u30aa\u306e\u30a6\u30a8\u30a4\u30c8\u3092\u6226\u7565\u7684\u8cc7\u7523\u914d\u5206\u306b\u8fd1\u3065\u3051\u308b\u898f\u5f8b\u3067\u3059\u3002<strong>\u30ab\u30ec\u30f3\u30c0\u30fc\u30fb\u30ea\u30d0\u30e9\u30f3\u30b9<\/strong>\u3068<strong>\u30ec\u30f3\u30b8\uff08\u30b3\u30ea\u30c9\u30fc\uff09\u30fb\u30ea\u30d0\u30e9\u30f3\u30b9<\/strong>\u304c\u3042\u308a\u3001\u5f8c\u8005\u306e\u65b9\u304c\u8cc7\u7523\u69cb\u6210\u3092\u53b3\u5bc6\u306b\u7ba1\u7406\u3067\u304d\u307e\u3059\u3002<\/p>\n<ul>\n<li>\u30ab\u30ec\u30f3\u30c0\u30fc\u30fb\u30ea\u30d0\u30e9\u30f3\u30b9\uff1a\u5b9a\u671f\u7684\u306b\u76ee\u6a19\u30a6\u30a8\u30a4\u30c8\u3078\u623b\u3059<\/li>\n<li>\u30ec\u30f3\u30b8\u30fb\u30ea\u30d0\u30e9\u30f3\u30b9\uff1a\u76ee\u6a19\u30a6\u30a8\u30a4\u30c8\u306e\u5468\u308a\u306b\u3057\u304d\u3044\u5024\u3092\u8a2d\u3051\u3001\u8d85\u3048\u305f\u3089\u8abf\u6574\uff08\u56fa\u5b9a\u5e45\u3001\u6bd4\u7387\u30d9\u30fc\u30b9\u3001\u30dc\u30e9\u30c6\u30a3\u30ea\u30c6\u30a3\u30fb\u30d9\u30fc\u30b9\uff09<\/li>\n<li>\u8003\u616e\u4e8b\u9805\uff1a\u53d6\u5f15\u30b3\u30b9\u30c8\u3001\u30ea\u30b9\u30af\u56de\u907f\u5ea6\u3001\u8cc7\u7523\u30af\u30e9\u30b9\u9593\u306e\u76f8\u95a2\u3001\u30dc\u30e9\u30c6\u30a3\u30ea\u30c6\u30a3<\/li>\n<li>\u30e2\u30e1\u30f3\u30bf\u30e0\u306b\u95a2\u3059\u308b\u898b\u65b9\u3001\u7a0e\u3001\u6d41\u52d5\u6027\u3082\u8003\u616e<\/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\/level3-mail\/\" target=\"_blank\" rel=\"noopener\">Level 3 \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-l3-aa-lm2\/\">LM2 Capital Market Expectations, Part 2: Forecasting Asset Class Returns\uff08\u8cc7\u672c\u5e02\u5834\u671f\u5f85 Part 2\uff1a\u8cc7\u7523\u30af\u30e9\u30b9\u5225\u30ea\u30bf\u30fc\u30f3\u4e88\u6e2c\uff09<\/a><br \/>\n\u6b21\u306e\u5358\u5143\uff1a<a href=\"https:\/\/triumphmind.com\/cfa\/2026\/09\/22\/cfa-l3-aa-lm4\/\">LM4 Principles of Asset Allocation\uff08\u30a2\u30bb\u30c3\u30c8\u30fb\u30a2\u30ed\u30b1\u30fc\u30b7\u30e7\u30f3\u306e\u539f\u5247\uff09<\/a><br \/>\n\u5168\u4f53\u306e\u76ee\u6b21\uff1a<a href=\"https:\/\/triumphmind.com\/cfa\/cfa-curriculum\/#l3-aa\">CFA\u00ae\ufe0e \u5b66\u7fd2\u5185\u5bb9\u306e\u76ee\u6b21\uff08Level 3 Asset Allocation\uff09<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"<p>CFA\u00ae\ufe0e Level 3 Asset Allocation LM3\u300cOverview of Asset Allocation\uff08\u30a2\u30bb\u30c3\u30c8\u30fb\u30a2\u30ed\u30b1\u30fc\u30b7\u30e7\u30f3\u306e\u6982\u8981\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":11217,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jin_ogp_image_url":"","_jin_last_featured_id":0,"footnotes":""},"categories":[100],"tags":[],"class_list":["post-10871","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-level3-topics"],"_links":{"self":[{"href":"https:\/\/triumphmind.com\/cfa\/wp-json\/wp\/v2\/posts\/10871","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=10871"}],"version-history":[{"count":1,"href":"https:\/\/triumphmind.com\/cfa\/wp-json\/wp\/v2\/posts\/10871\/revisions"}],"predecessor-version":[{"id":11044,"href":"https:\/\/triumphmind.com\/cfa\/wp-json\/wp\/v2\/posts\/10871\/revisions\/11044"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/triumphmind.com\/cfa\/wp-json\/wp\/v2\/media\/11217"}],"wp:attachment":[{"href":"https:\/\/triumphmind.com\/cfa\/wp-json\/wp\/v2\/media?parent=10871"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/triumphmind.com\/cfa\/wp-json\/wp\/v2\/categories?post=10871"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/triumphmind.com\/cfa\/wp-json\/wp\/v2\/tags?post=10871"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}