{"id":10910,"date":"2026-09-22T06:00:00","date_gmt":"2026-09-21T21:00:00","guid":{"rendered":"https:\/\/triumphmind.com\/cfa\/2026\/09\/22\/cfa-l3-pmk-lm6\/"},"modified":"2026-09-22T07:44:49","modified_gmt":"2026-09-21T22:44:49","slug":"cfa-l3-pmk-lm6","status":"publish","type":"post","link":"https:\/\/triumphmind.com\/cfa\/2026\/09\/22\/cfa-l3-pmk-lm6\/","title":{"rendered":"\u3010CFA\u00ae\ufe0e L3 Private Markets Pathway LM6\u3011Private Real Estate Investments \u3092\u8981\u70b9\u89e3\u8aac\uff5c\u958b\u767a\u30e9\u30a4\u30d5\u30b5\u30a4\u30af\u30eb\u30fb\u4fa1\u5024\u30c9\u30e9\u30a4\u30d0\u30fc\u30fb\u4e0d\u52d5\u7523\u8a55\u4fa1\u30fb\u68ee\u6797\u3068\u8fb2\u5730"},"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 6\u300cPrivate Real Estate Investments\uff08\u30d7\u30e9\u30a4\u30d9\u30fc\u30c8\u4e0d\u52d5\u7523\u6295\u8cc7\uff09\u300d\u306f\u3001\u30d7\u30e9\u30a4\u30d9\u30fc\u30c8\u4e0d\u52d5\u7523\u6295\u8cc7\u306e\u4e3b\u306a\u7279\u5fb4\u3068\u958b\u767a\u306e\u30e9\u30a4\u30d5\u30b5\u30a4\u30af\u30eb\u3001\u7d4c\u6e08\u7684\u306a\u4fa1\u5024\u30c9\u30e9\u30a4\u30d0\u30fc\u3068\u30dd\u30fc\u30c8\u30d5\u30a9\u30ea\u30aa\u3067\u306e\u5f79\u5272\u3001\u30c7\u30e5\u30fc\u30fb\u30c7\u30ea\u30b8\u30a7\u30f3\u30b9\u3068\u8a55\u4fa1\u3001\u68ee\u6797\uff08\u30c6\u30a3\u30f3\u30d0\u30fc\u30e9\u30f3\u30c9\uff09\u3068\u8fb2\u5730\u306e\u6295\u8cc7\u7279\u6027\u3001\u305d\u3057\u3066\u8cc7\u7523\u914d\u5206\u306b\u304a\u3051\u308b\u30d7\u30e9\u30a4\u30d9\u30fc\u30c8\u4e0d\u52d5\u7523\u306e\u30ea\u30b9\u30af\u3068\u30ea\u30bf\u30fc\u30f3\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>LM6\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\u3002LM6\u306b\u306f5\u3064\u306eLOS\u304c\u3042\u308a\u307e\u3059\u3002<\/p>\n<ol class=\"cfalm-los\">\n<li><span class=\"ja\">LOS 1\uff1a\u30d7\u30e9\u30a4\u30d9\u30fc\u30c8\u4e0d\u52d5\u7523\u6295\u8cc7\u306e\u91cd\u8981\u306a\u7279\u5fb4\u3092\u8ad6\u3058\u308b<\/span><span class=\"en\">discuss important private real estate investment features<\/span><\/li>\n<li><span class=\"ja\">LOS 2\uff1a\u30d7\u30e9\u30a4\u30d9\u30fc\u30c8\u4e0d\u52d5\u7523\u6295\u8cc7\u306e\u7d4c\u6e08\u7684\u306a\u4fa1\u5024\u30c9\u30e9\u30a4\u30d0\u30fc\u3068\u3001\u30dd\u30fc\u30c8\u30d5\u30a9\u30ea\u30aa\u306b\u304a\u3051\u308b\u5f79\u5272\u3092\u8ad6\u3058\u308b<\/span><span class=\"en\">discuss economic value drivers of private real estate investments and their role in a portfolio<\/span><\/li>\n<li><span class=\"ja\">LOS 3\uff1a\u30d7\u30e9\u30a4\u30d9\u30fc\u30c8\u4e0d\u52d5\u7523\u306e\u30c7\u30e5\u30fc\u30fb\u30c7\u30ea\u30b8\u30a7\u30f3\u30b9\u3068\u8a55\u4fa1\u306e\u30d7\u30ed\u30bb\u30b9\u3092\u8ad6\u3058\u308b<\/span><span class=\"en\">discuss the due diligence and valuation processes for private real estate<\/span><\/li>\n<li><span class=\"ja\">LOS 4\uff1a\u30c6\u30a3\u30f3\u30d0\u30fc\u30e9\u30f3\u30c9\uff08\u68ee\u6797\uff09\u3068\u30d5\u30a1\u30fc\u30e0\u30e9\u30f3\u30c9\uff08\u8fb2\u5730\uff09\u306b\u7279\u6709\u306e\u6295\u8cc7\u7279\u6027\u3092\u8ad6\u3058\u308b<\/span><span class=\"en\">discuss the distinctive investment characteristics of timberland and farmland<\/span><\/li>\n<li><span class=\"ja\">LOS 5\uff1a\u30d7\u30e9\u30a4\u30d9\u30fc\u30c8\u4e0d\u52d5\u7523\u6295\u8cc7\u9593\u306e\u30ea\u30b9\u30af\u3068\u30ea\u30bf\u30fc\u30f3\u3001\u304a\u3088\u3073\u6226\u7565\u7684\u8cc7\u7523\u914d\u5206\u306e\u4e00\u90e8\u3068\u3057\u3066\u306e\u4ed6\u306e\u6295\u8cc7\u3068\u306e\u6bd4\u8f03\u3092\u8ad6\u3058\u308b<\/span><span class=\"en\">discuss the risk and return among private real estate investments and as compared to other investments as part of a strategic asset allocation<\/span><\/li>\n<\/ol>\n<h2>LM6\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>\u30d7\u30e9\u30a4\u30d9\u30fc\u30c8\u4e0d\u52d5\u7523\u6295\u8cc7\u306f\u3001\u5927\u898f\u6a21\u306a\u6539\u4fee\u30fb\u30ea\u30dd\u30b8\u30b7\u30e7\u30cb\u30f3\u30b0\u3084\u65b0\u898f\u958b\u767a\u3092\u4f34\u3046\u3053\u3068\u304c\u591a\u304f\u3001\u5b89\u5b9a\u53ce\u76ca\u578b\u306e\u7269\u4ef6\u3088\u308a\u682a\u5f0f\u306b\u8fd1\u3044\u6027\u8cea\u3092\u6301\u3064<\/li>\n<li>\u4e0d\u52d5\u7523\u958b\u767a\u3067\u4f7f\u308f\u308c\u308b\u8ca0\u50b5\u30fb\u682a\u5f0f\u306e\u8cc7\u91d1\u306f\u3001\u30bf\u30a4\u30df\u30f3\u30b0\u30fb\u6761\u4ef6\u30fb\u7a2e\u985e\u306e\u9762\u3067\u516c\u958b\u4e0d\u52d5\u7523\u6295\u8cc7\u3068\u7570\u306a\u308a\u3001\u8cc7\u91d1\u306e\u30b3\u30df\u30c3\u30c8\u30e1\u30f3\u30c8\u30fb\u6295\u4e0b\u30fb\u5206\u914d\u306e\u5404\u6bb5\u968e\u3067\u5909\u5316\u3059\u308b<\/li>\n<li>\u958b\u767a\u306b\u306f\u3001\u8a08\u753b\u3001\u7528\u5730\u53d6\u5f97\u3001\u5efa\u8a2d\u3001\u5b8c\u6210\u3068\u30ea\u30fc\u30b9\u30a2\u30c3\u30d7\u3001\u904b\u55b6\u3068\u3044\u30465\u3064\u306e\u6bb5\u968e\u304c\u3042\u308b<\/li>\n<li>\u30d7\u30e9\u30a4\u30d9\u30fc\u30c8\u4e0d\u52d5\u7523\u306e\u30c7\u30e5\u30fc\u30fb\u30c7\u30ea\u30b8\u30a7\u30f3\u30b9\u3067\u306f\u3001\u8907\u96d1\u306a\u6295\u8cc7\u30b9\u30c8\u30e9\u30af\u30c1\u30e3\u30fc\u3084\u8cc7\u672c\u30fb\u958b\u767a\u306e\u30e9\u30a4\u30d5\u30b5\u30a4\u30af\u30eb\u3092\u78ba\u8a8d\u3059\u308b\u3002\u8a55\u4fa1\u306f\u53ce\u76ca\u9084\u5143\u6cd5\u3084\u53d6\u5f15\u4e8b\u4f8b\u6bd4\u8f03\u6cd5\u306b\u52a0\u3048\u3001\u30b7\u30ca\u30ea\u30aa\u5206\u6790\u3084\u611f\u5fdc\u5ea6\u5206\u6790\u3092\u7528\u3044\u308b<\/li>\n<li>\u30c6\u30a3\u30f3\u30d0\u30fc\u30e9\u30f3\u30c9\u3068\u30d5\u30a1\u30fc\u30e0\u30e9\u30f3\u30c9\u306f\u3001\u4e3b\u306b\u30d7\u30e9\u30a4\u30d9\u30fc\u30c8\u3067\u4fdd\u6709\u3055\u308c\u308b\u7279\u6b8a\u306a\u4e0d\u52d5\u7523\u3002\u4fa1\u5024\u306f\u6728\u6750\u306e\u6210\u9577\u30b5\u30a4\u30af\u30eb\u3084\u8fb2\u696d\u5229\u7528\u306b\u3088\u308b\u7d4c\u6e08\u7684\u306a\u4f7f\u9014\u3068\u3001\u571f\u5730\u306e\u5024\u4e0a\u304c\u308a\u304b\u3089\u751f\u307e\u308c\u308b<\/li>\n<li>\u30d7\u30e9\u30a4\u30d9\u30fc\u30c8\u4e0d\u52d5\u7523\u306e\u30ea\u30b9\u30af\u30fb\u30ea\u30bf\u30fc\u30f3\u5206\u6790\u3067\u306f\u3001\u7d4c\u6e08\u7684\u306a\u8981\u56e0\u306b\u3082\u3068\u3065\u304f\u53ce\u76ca\u3068\u5024\u4e0a\u304c\u308a\u306e\u30bf\u30a4\u30df\u30f3\u30b0\u30fb\u5909\u52d5\u6027\u3001\u305d\u3057\u3066\u8907\u96d1\u306a\u5831\u916c\u4f53\u7cfb\u3092\u8a55\u4fa1\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\u30d7\u30e9\u30a4\u30d9\u30fc\u30c8\u4e0d\u52d5\u7523\u6295\u8cc7\u306e\u7279\u5fb4<\/h3>\n<p>\u4e0d\u52d5\u7523\u6295\u8cc7\u306f\u3001\u5b89\u5b9a\u53ce\u76ca\u578b\u306e<strong>\u30b3\u30a2<\/strong>\u304b\u3089\u3001<strong>\u30b3\u30a2\u30fb\u30d7\u30e9\u30b9<\/strong>\u3001<strong>\u30d0\u30ea\u30e5\u30fc\u30a2\u30c3\u30c9<\/strong>\u3001\u65b0\u898f\u958b\u767a\u306a\u3069\u306e<strong>\u30aa\u30dd\u30c1\u30e5\u30cb\u30b9\u30c6\u30a3\u30c3\u30af<\/strong>\u307e\u3067\u5e45\u304c\u3042\u308a\u307e\u3059\u3002\u30d7\u30e9\u30a4\u30d9\u30fc\u30c8\u6295\u8cc7\u306f\u30ea\u30b9\u30af\u306e\u9ad8\u3044\u5074\u306b\u591a\u304f\u3001\u9577\u3044\u6295\u8cc7\u671f\u9593\u3001\u4f4e\u3044\u6d41\u52d5\u6027\u3001\u5927\u304d\u306a\u652f\u914d\u6a29\u3092\u4f34\u3044\u3001<strong>\u682a\u5f0f\u306b\u8fd1\u3044\u30ea\u30bf\u30fc\u30f3\u7279\u6027<\/strong>\u3092\u6301\u3061\u307e\u3059\u3002<\/p>\n<ul>\n<li>\u30b3\u30a2\uff1a\u5b89\u5b9a\u53ce\u76ca\u7269\u4ef6\u3001\u50b5\u5238\u306b\u8fd1\u3044\u6027\u8cea<\/li>\n<li>\u30d0\u30ea\u30e5\u30fc\u30a2\u30c3\u30c9\uff1a\u7a7a\u5ba4\u306e\u89e3\u6d88\u3001\u6539\u4fee\u30fb\u30ea\u30dd\u30b8\u30b7\u30e7\u30cb\u30f3\u30b0<\/li>\n<li>\u30aa\u30dd\u30c1\u30e5\u30cb\u30b9\u30c6\u30a3\u30c3\u30af\uff1a\u65b0\u898f\u958b\u767a\u3001\u30c7\u30a3\u30b9\u30c8\u30ec\u30b9\u30c8\u3001\u30e1\u30b6\u30cb\u30f3\u30fb\u30c7\u30c3\u30c8<\/li>\n<li>\u6295\u8cc7\u30d3\u30fc\u30af\u30eb\uff1a\u30a4\u30f3\u30bf\u30fc\u30d0\u30eb\u30fb\u30d5\u30a1\u30f3\u30c9\uff08\u6e80\u671f\u306a\u3057\u3001\u89e3\u7d04\u5236\u9650\u3042\u308a\uff09\u3068\u30af\u30ed\u30fc\u30ba\u30c9\u30a8\u30f3\u30c9\u30fb\u30d5\u30a1\u30f3\u30c9\uff08\u671f\u9650\u3042\u308a\u3001\u30ed\u30c3\u30af\u30a2\u30c3\u30d7\uff09<\/li>\n<li>\u958b\u767a\u306e5\u6bb5\u968e\uff1a\u8a08\u753b \u2192 \u7528\u5730\u53d6\u5f97 \u2192 \u5efa\u8a2d \u2192 \u5b8c\u6210\u3068\u30ea\u30fc\u30b9\u30a2\u30c3\u30d7 \u2192 \u904b\u55b6<\/li>\n<li>\u958b\u767a\u6bb5\u968e\u306b\u3088\u3063\u3066\u5fc5\u8981\u306a\u8cc7\u91d1\u306e\u7a2e\u985e\uff08\u5efa\u8a2d\u30ed\u30fc\u30f3\u3001\u30e1\u30b6\u30cb\u30f3\u3001\u682a\u5f0f\u306a\u3069\uff09\u304c\u5909\u308f\u308b<\/li>\n<\/ul>\n<h3>LOS 2\uff1a\u4fa1\u5024\u30c9\u30e9\u30a4\u30d0\u30fc\u3068\u30dd\u30fc\u30c8\u30d5\u30a9\u30ea\u30aa\u3067\u306e\u5f79\u5272<\/h3>\n<p>\u4e0d\u52d5\u7523\u306e\u4fa1\u5024\u306f\u3001<strong>\u7d4c\u6e08\u6210\u9577\u3001\u4eba\u53e3\u52d5\u614b\u3001\u96c7\u7528\u3001\u91d1\u5229\u3001\u9700\u7d66<\/strong>\u306a\u3069\u306e\u30de\u30af\u30ed\u8981\u56e0\u3068\u3001\u7acb\u5730\u30fb\u7269\u4ef6\u306e\u8cea\u30fb\u8cc3\u8cb8\u6761\u4ef6\u306a\u3069\u306e\u500b\u5225\u8981\u56e0\u3067\u6c7a\u307e\u308a\u307e\u3059\u3002\u30dd\u30fc\u30c8\u30d5\u30a9\u30ea\u30aa\u3067\u306f\u3001<strong>\u30a4\u30f3\u30ab\u30e0\u3001\u30a4\u30f3\u30d5\u30ec\u30fb\u30d8\u30c3\u30b8\u3001\u5206\u6563\u52b9\u679c<\/strong>\u306e\u5f79\u5272\u304c\u671f\u5f85\u3055\u308c\u307e\u3059\u3002<\/p>\n<ul>\n<li>\u9700\u8981\u5074\uff1a\u7d4c\u6e08\u6210\u9577\u3001\u96c7\u7528\u3001\u4eba\u53e3\u30fb\u4e16\u5e2f\u6570\u3001\u50cd\u304d\u65b9\u306a\u3069\u306e\u69cb\u9020\u5909\u5316<\/li>\n<li>\u4f9b\u7d66\u5074\uff1a\u65b0\u898f\u4f9b\u7d66\u3001\u5efa\u8a2d\u30b3\u30b9\u30c8\u3001\u7528\u9014\u898f\u5236<\/li>\n<li>\u91d1\u5229\uff1a\u8cc7\u672c\u30b3\u30b9\u30c8\u3068\u30ad\u30e3\u30c3\u30d7\u30ec\u30fc\u30c8\u306b\u5f71\u97ff<\/li>\n<li>\u8cc3\u8cb8\u5951\u7d04\uff1a\u671f\u9593\u3001\u8cc3\u6599\u6539\u5b9a\u6761\u9805\uff08\u30a4\u30f3\u30d5\u30ec\u9023\u52d5\u306a\u3069\uff09<\/li>\n<li>\u5f79\u5272\uff1a\u5b89\u5b9a\u3057\u305f\u30a4\u30f3\u30ab\u30e0\u3001\u30a4\u30f3\u30d5\u30ec\u3078\u306e\u4e00\u5b9a\u306e\u8010\u6027\u3001\u682a\u5f0f\u30fb\u50b5\u5238\u3068\u306e\u5206\u6563<\/li>\n<\/ul>\n<h3>LOS 3\uff1a\u30c7\u30e5\u30fc\u30fb\u30c7\u30ea\u30b8\u30a7\u30f3\u30b9\u3068\u8a55\u4fa1<\/h3>\n<p>\u30d7\u30e9\u30a4\u30d9\u30fc\u30c8\u4e0d\u52d5\u7523\u306e\u30c7\u30e5\u30fc\u30fb\u30c7\u30ea\u30b8\u30a7\u30f3\u30b9\u3067\u306f\u3001\u7269\u4ef6\u305d\u306e\u3082\u306e\u306b\u52a0\u3048\u3001<strong>\u6295\u8cc7\u30b9\u30c8\u30e9\u30af\u30c1\u30e3\u30fc<\/strong>\u3084<strong>\u958b\u767a\u30fb\u8cc7\u672c\u306e\u30e9\u30a4\u30d5\u30b5\u30a4\u30af\u30eb<\/strong>\u3092\u78ba\u8a8d\u3057\u307e\u3059\u3002\u8a55\u4fa1\u306f<strong>\u53ce\u76ca\u9084\u5143\u6cd5<\/strong>\uff08\u76f4\u63a5\u9084\u5143\u6cd5\u30fbDCF\u6cd5\uff09\u3068<strong>\u53d6\u5f15\u4e8b\u4f8b\u6bd4\u8f03\u6cd5<\/strong>\u3092\u57fa\u672c\u306b\u3001\u958b\u767a\u6848\u4ef6\u3067\u306f<strong>\u30b7\u30ca\u30ea\u30aa\u5206\u6790\u30fb\u611f\u5fdc\u5ea6\u5206\u6790<\/strong>\u3092\u52a0\u3048\u307e\u3059\u3002<\/p>\n<ul>\n<li>\u78ba\u8a8d\u4e8b\u9805\uff1a\u6a29\u5229\u95a2\u4fc2\u3001\u6cd5\u4ee4\u30fb\u7528\u9014\u898f\u5236\u3001\u74b0\u5883\u3001\u7269\u7406\u7684\u72b6\u614b\u3001\u8cc3\u8cb8\u501f\u5951\u7d04\u3001\u30d5\u30a1\u30f3\u30c9\u6761\u4ef6<\/li>\n<li>\u958b\u767a\u6848\u4ef6\uff1a\u7269\u7406\u7684\u30fb\u7d4c\u6e08\u7684\u306a\u5b9f\u73fe\u53ef\u80fd\u6027\uff08\u6700\u6709\u52b9\u4f7f\u7528\uff09<\/li>\n<li>\u76f4\u63a5\u9084\u5143\u6cd5\uff1a\u5b89\u5b9a\u671f\u306eNOI\u3092\u30ad\u30e3\u30c3\u30d7\u30ec\u30fc\u30c8\u3067\u5272\u308b<\/li>\n<li>DCF\u6cd5\uff1a\u4fdd\u6709\u671f\u9593\u306e\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u3068\u58f2\u5374\u4fa1\u5024\u3092\u5272\u308a\u5f15\u304f<\/li>\n<li>\u30b7\u30ca\u30ea\u30aa\u30fb\u611f\u5fdc\u5ea6\u5206\u6790\uff1a\u8cc3\u6599\u3001\u7a7a\u5ba4\u7387\u3001\u5efa\u8a2d\u30b3\u30b9\u30c8\u3001\u5b8c\u6210\u6642\u671f\u3001\u30ad\u30e3\u30c3\u30d7\u30ec\u30fc\u30c8\u306e\u5909\u5316\u3092\u691c\u8a3c<\/li>\n<\/ul>\n<div class=\"cfalm-f\">\u4fa1\u5024 = NOI \u00f7 \u30ad\u30e3\u30c3\u30d7\u30ec\u30fc\u30c8<\/div>\n<h3>LOS 4\uff1a\u30c6\u30a3\u30f3\u30d0\u30fc\u30e9\u30f3\u30c9\u3068\u30d5\u30a1\u30fc\u30e0\u30e9\u30f3\u30c9<\/h3>\n<p><strong>\u30c6\u30a3\u30f3\u30d0\u30fc\u30e9\u30f3\u30c9<\/strong>\u306e\u30ea\u30bf\u30fc\u30f3\u306f\u3001<strong>\u6a39\u6728\u306e\u751f\u7269\u5b66\u7684\u6210\u9577<\/strong>\u3001\u6728\u6750\u4fa1\u683c\u3001\u571f\u5730\u4fa1\u683c\u306e\u5909\u5316\u304b\u3089\u751f\u307e\u308c\u3001\u4f10\u63a1\u6642\u671f\u3092\u8abf\u6574\u3067\u304d\u308b\u67d4\u8edf\u6027\u304c\u3042\u308a\u307e\u3059\u3002<strong>\u30d5\u30a1\u30fc\u30e0\u30e9\u30f3\u30c9<\/strong>\u306f\u3001\u4f5c\u7269\u306e\u53ce\u5165\uff08\u81ea\u55b6\u307e\u305f\u306f\u8cc3\u8cb8\uff09\u3068\u571f\u5730\u306e\u5024\u4e0a\u304c\u308a\u304c\u4e3b\u306a\u30ea\u30bf\u30fc\u30f3\u6e90\u3067\u3059\u3002\u3044\u305a\u308c\u3082\u5b9f\u7269\u8cc7\u7523\u3068\u3057\u3066\u30a4\u30f3\u30d5\u30ec\u30fb\u30d8\u30c3\u30b8\u3084\u5206\u6563\u52b9\u679c\u304c\u671f\u5f85\u3055\u308c\u307e\u3059\u3002<\/p>\n<ul>\n<li>\u30c6\u30a3\u30f3\u30d0\u30fc\u30e9\u30f3\u30c9\uff1a\u6210\u9577\u305d\u306e\u3082\u306e\u304c\u30ea\u30bf\u30fc\u30f3\u3092\u751f\u307f\u3001\u6728\u6750\u4fa1\u683c\u304c\u4f4e\u3044\u3068\u304d\u306f\u4f10\u63a1\u3092\u5148\u9001\u308a\u3067\u304d\u308b<\/li>\n<li>\u30c6\u30a3\u30f3\u30d0\u30fc\u30e9\u30f3\u30c9\uff1a\u30ab\u30fc\u30dc\u30f3\u30fb\u30aa\u30d5\u30bb\u30c3\u30c8\u306a\u3069\u65b0\u305f\u306a\u53ce\u76ca\u6a5f\u4f1a<\/li>\n<li>\u30d5\u30a1\u30fc\u30e0\u30e9\u30f3\u30c9\uff1a\u4e00\u5e74\u751f\u4f5c\u7269\uff08\u7a40\u7269\u306a\u3069\uff09\u3068\u6c38\u5e74\u4f5c\u7269\uff08\u679c\u6a39\u306a\u3069\uff09\u3067\u7279\u6027\u304c\u7570\u306a\u308b<\/li>\n<li>\u30d5\u30a1\u30fc\u30e0\u30e9\u30f3\u30c9\uff1a\u5929\u5019\u3001\u4f5c\u7269\u4fa1\u683c\u3001\u6c34\u8cc7\u6e90\u306a\u3069\u306e\u30ea\u30b9\u30af<\/li>\n<li>\u5171\u901a\uff1a\u6d41\u52d5\u6027\u304c\u4f4e\u304f\u3001\u8a55\u4fa1\u306f\u9451\u5b9a\u30d9\u30fc\u30b9\u3001\u30a4\u30f3\u30d5\u30ec\u3068\u306e\u9023\u52d5\u6027<\/li>\n<\/ul>\n<h3>LOS 5\uff1a\u30d7\u30e9\u30a4\u30d9\u30fc\u30c8\u4e0d\u52d5\u7523\u306e\u30ea\u30b9\u30af\u3068\u30ea\u30bf\u30fc\u30f3\u3001\u8cc7\u7523\u914d\u5206\u3067\u306e\u5f79\u5272<\/h3>\n<p>\u30b3\u30a2\u304b\u3089\u30aa\u30dd\u30c1\u30e5\u30cb\u30b9\u30c6\u30a3\u30c3\u30af\u306b\u5411\u304b\u3046\u307b\u3069\u3001<strong>\u53ce\u76ca\u306e\u6bd4\u91cd\u304c\u4e0b\u304c\u308a\u5024\u4e0a\u304c\u308a\u76ca\u306e\u6bd4\u91cd\u304c\u4e0a\u304c\u308a<\/strong>\u3001\u30ea\u30b9\u30af\u3068\u30ea\u30bf\u30fc\u30f3\u304c\u9ad8\u307e\u308a\u307e\u3059\u3002\u8a55\u4fa1\u3067\u306f\u3001\u7d4c\u6e08\u7684\u8981\u56e0\u306b\u3082\u3068\u3065\u304f\u53ce\u76ca\u3068\u5024\u4e0a\u304c\u308a\u306e\u30bf\u30a4\u30df\u30f3\u30b0\u30fb\u5909\u52d5\u6027\u306b\u52a0\u3048\u3001\u6210\u529f\u5831\u916c\uff08\u30d7\u30ed\u30e2\u30fc\u30c8\uff09\u306a\u3069\u306e<strong>\u8907\u96d1\u306a\u5831\u916c\u4f53\u7cfb<\/strong>\u3082\u8003\u616e\u3057\u307e\u3059\u3002<\/p>\n<ul>\n<li>\u30b3\u30a2\uff1a\u30a4\u30f3\u30ab\u30e0\u4e2d\u5fc3\u3001\u4f4e\u30ea\u30b9\u30af\u3001\u50b5\u5238\u306b\u8fd1\u3044<\/li>\n<li>\u30aa\u30dd\u30c1\u30e5\u30cb\u30b9\u30c6\u30a3\u30c3\u30af\uff1a\u5024\u4e0a\u304c\u308a\u76ca\u4e2d\u5fc3\u3001\u9ad8\u30ea\u30b9\u30af\u3001\u682a\u5f0f\u306b\u8fd1\u3044<\/li>\n<li>\u9451\u5b9a\u8a55\u4fa1\u306b\u3088\u308b\u5e73\u6ed1\u5316\u3067\u3001\u30dc\u30e9\u30c6\u30a3\u30ea\u30c6\u30a3\u30fb\u76f8\u95a2\u304c\u904e\u5c0f\u306b\u8868\u308c\u3084\u3059\u3044<\/li>\n<li>\u30ec\u30d0\u30ec\u30c3\u30b8\u3001\u958b\u767a\u30ea\u30b9\u30af\u3001\u6d41\u52d5\u6027\u30ea\u30b9\u30af<\/li>\n<li>\u4e0a\u5834REIT\u3068\u6bd4\u3079\u3001\u652f\u914d\u6a29\u3084\u4fa1\u5024\u5275\u9020\u306e\u6a5f\u4f1a\u304c\u3042\u308b\u4e00\u65b9\u3001\u6d41\u52d5\u6027\u306f\u4f4e\u3044<\/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-pmk-lm5\/\">LM5 Private Special Situations\uff08\u30d7\u30e9\u30a4\u30d9\u30fc\u30c8\u306e\u7279\u6b8a\u72b6\u6cc1\u6295\u8cc7\uff09<\/a><br \/>\n\u6b21\u306e\u5358\u5143\uff1a<a href=\"https:\/\/triumphmind.com\/cfa\/2026\/09\/22\/cfa-l3-pmk-lm7\/\">LM7 Infrastructure\uff08\u30a4\u30f3\u30d5\u30e9\u6295\u8cc7\uff09<\/a><br \/>\n\u5168\u4f53\u306e\u76ee\u6b21\uff1a<a href=\"https:\/\/triumphmind.com\/cfa\/cfa-curriculum\/#l3-pmk\">CFA\u00ae\ufe0e \u5b66\u7fd2\u5185\u5bb9\u306e\u76ee\u6b21\uff08Level 3 Private Markets Pathway\uff09<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"<p>CFA\u00ae\ufe0e Level 3 Private Markets Pathway LM6\u300cPrivate Real Estate Investments\uff08\u30d7\u30e9\u30a4\u30d9\u30fc\u30c8\u4e0d\u52d5\u7523\u6295\u8cc7\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":11256,"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-10910","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\/10910","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=10910"}],"version-history":[{"count":2,"href":"https:\/\/triumphmind.com\/cfa\/wp-json\/wp\/v2\/posts\/10910\/revisions"}],"predecessor-version":[{"id":11385,"href":"https:\/\/triumphmind.com\/cfa\/wp-json\/wp\/v2\/posts\/10910\/revisions\/11385"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/triumphmind.com\/cfa\/wp-json\/wp\/v2\/media\/11256"}],"wp:attachment":[{"href":"https:\/\/triumphmind.com\/cfa\/wp-json\/wp\/v2\/media?parent=10910"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/triumphmind.com\/cfa\/wp-json\/wp\/v2\/categories?post=10910"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/triumphmind.com\/cfa\/wp-json\/wp\/v2\/tags?post=10910"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}