{"id":11453,"date":"2026-09-24T09:00:00","date_gmt":"2026-09-24T00:00:00","guid":{"rendered":"https:\/\/triumphmind.com\/cfa\/?p=11453"},"modified":"2026-09-24T18:40:00","modified_gmt":"2026-09-24T09:40:00","slug":"cfa-l3-pmp-glossary","status":"publish","type":"post","link":"https:\/\/triumphmind.com\/cfa\/2026\/09\/24\/cfa-l3-pmp-glossary\/","title":{"rendered":"\u3010CFA\u00ae\ufe0e L3 PM Pathway \u7528\u8a9e\u96c6\u3011Portfolio Management Pathway \u306e\u91cd\u8981\u7528\u8a9e77\u8a9e\uff5c\u82f1\u8a9e\u30fb\u65e5\u672c\u8a9e\u8a33\u30fb\u610f\u5473\u3092\u5358\u5143\u5225\u306b\u6574\u7406"},"content":{"rendered":"<style> .cfagl-nav{background:#f6f7fb;border-radius:6px;padding:1em 1.2em;margin:1em 0;line-height:1.9;word-break:normal;overflow-wrap:anywhere} .cfagl-nav a{display:block;margin:.15em 0} .cfagl-lm{font-size:.9em;margin:.2em 0 1em} .cfagl-t{border:1px solid #d5d9e3;border-left:4px solid #172152;border-radius:4px;padding:.75em 1em;margin:0 0 .8em;background:#fff} .cfagl-t .en{display:block;font-weight:bold;color:#172152;line-height:1.5;word-break:normal;overflow-wrap:anywhere} .cfagl-t .ja{display:block;font-size:.9em;color:#555;margin:.15em 0 .4em;line-height:1.5} .cfagl-t .df{display:block;line-height:1.75} .cfafm-c{border:1px solid #d5d9e3;border-top:4px solid #172152;border-radius:4px;padding:.9em 1em;margin:0 0 1.2em;background:#fff} .cfafm-c .nm{display:block;font-weight:bold;color:#172152;line-height:1.5} .cfafm-c .ne{display:block;font-size:.85em;color:#667;margin-bottom:.5em;word-break:normal;overflow-wrap:anywhere} .cfafm-x{background:#f6f7fb;border-radius:4px;padding:.6em .8em;margin:.4em 0 .7em;overflow-x:auto;overflow-y:hidden;-webkit-overflow-scrolling:touch} .cfafm-x .katex-display{margin:.3em 0!important} .cfafm-lg{margin:.3em 0 .6em;padding:0;font-size:.92em} .cfafm-lg div{display:flex;gap:.8em;padding:.25em 0;border-bottom:1px dotted #d5d9e3;line-height:1.6} .cfafm-lg .s{flex:0 0 auto;min-width:4.5em;max-width:45%;overflow-x:auto} .cfafm-lg .d{flex:1 1 auto} .cfafm-u{display:block;line-height:1.75;font-size:.95em} .cfafm-u b{color:#172152} .cfahub-g{display:grid;grid-template-columns:repeat(auto-fill,minmax(250px,1fr));gap:.8em;margin:1em 0} .cfahub-g a{display:block;border:1px solid #d5d9e3;border-left:4px solid #172152;border-radius:4px;padding:.8em 1em;background:#fff;text-decoration:none;color:#172152;line-height:1.5} .cfahub-g a .n{display:block;font-weight:bold} .cfahub-g a .j{display:block;font-size:.88em;color:#555} .cfagl-t p:empty,.cfafm-c p:empty,.cfahub-g p:empty,.cfagl-nav p:empty{display:none} .cfagl-lsc{border:2px solid #c9a227;background:#fffbea;border-radius:6px;padding:.9em 1.1em;margin:1em 0 1.4em;line-height:1.75} .cfagl-lsc b{display:block;color:#8a6d1d;margin-bottom:.3em} .cfagl-lsc a{display:inline-block;margin-top:.4em;font-weight:bold} .cfahub-g a .c{display:block;font-size:.82em;color:#8a6d1d;margin-top:.3em} <\/style>\n<div class=\"box05\">CFA\u00ae\ufe0e Level 3\u300cPortfolio Management Pathway\uff08\u30dd\u30fc\u30c8\u30d5\u30a9\u30ea\u30aa\u30fb\u30de\u30cd\u30b8\u30e1\u30f3\u30c8 Pathway\uff09\u300d\u3067\u4f7f\u308f\u308c\u308b\u91cd\u8981\u7528\u8a9e\u3092\u3001\u5b66\u7fd2\u5358\u5143\uff08Learning Module\uff09\u3054\u3068\u306b<strong>\u82f1\u8a9e\u30fb\u65e5\u672c\u8a9e\u8a33\u30fb\u610f\u5473<\/strong>\u306e3\u70b9\u30bb\u30c3\u30c8\u3067\u6574\u7406\u3057\u307e\u3057\u305f\u3002\u51688\u5358\u5143\u30fb77\u8a9e\u3092\u53ce\u9332\u3057\u3066\u3044\u307e\u3059\u3002\u82f1\u8a9e\u306e\u5354\u4f1a\u30c6\u30ad\u30b9\u30c8\u3092\u8aad\u3080\u3068\u304d\u306e\u8f9e\u66f8\u4ee3\u308f\u308a\u306b\u304a\u4f7f\u3044\u304f\u3060\u3055\u3044\u3002<\/div>\n<div class=\"cfagl-lsc\"><b>Leveraged Support Course \u3092\u3054\u5229\u7528\u306e\u65b9\u3078<\/b>FA-Academy \u306e Leveraged Support Course\uff08LSC\uff09\u3092\u3054\u5229\u7528\u306e\u65b9\u306b\u306f\u3001\u3053\u306e\u7528\u8a9e\u96c6\u3068\u516c\u5f0f\u96c6\u3092\u30ec\u30d9\u30eb\u5225\u306b\u6574\u7406\u3057\u305f\u8cc7\u6599\uff08PDF\uff09\u3092\u304a\u6e21\u3057\u3057\u3066\u3044\u307e\u3059\u3002\u30aa\u30d5\u30e9\u30a4\u30f3\u3067\u306e\u78ba\u8a8d\u3084\u8a66\u9a13\u76f4\u524d\u306e\u898b\u76f4\u3057\u306b\u3054\u6d3b\u7528\u304f\u3060\u3055\u3044\u3002<a href=\"https:\/\/triumphmind.com\/cfa\/gokuhi\/\">Level 3 Leveraged Support Course \u306e\u8a73\u7d30\u3092\u898b\u308b<\/a><\/div>\n<h2>\u5358\u5143\uff08LM\uff09\u4e00\u89a7<\/h2>\n<div class=\"cfagl-nav\"><a href=\"#l3-pmp-g-lm1\">LM1 \u30a4\u30f3\u30c7\u30c3\u30af\u30b9\u578b\u306e\u682a\u5f0f\u6226\u7565<\/a><a href=\"#l3-pmp-g-lm2\">LM2 \u30a2\u30af\u30c6\u30a3\u30d6\u682a\u5f0f\u6295\u8cc7\uff1a\u6226\u7565<\/a><a href=\"#l3-pmp-g-lm3\">LM3 \u30a2\u30af\u30c6\u30a3\u30d6\u682a\u5f0f\u6295\u8cc7\uff1a\u30dd\u30fc\u30c8\u30d5\u30a9\u30ea\u30aa\u69cb\u7bc9<\/a><a href=\"#l3-pmp-g-lm4\">LM4 \u8ca0\u50b5\u4e3b\u5c0e\u578b\u30fb\u30a4\u30f3\u30c7\u30c3\u30af\u30b9\u578b\u306e\u50b5\u5238\u6226\u7565<\/a><a href=\"#l3-pmp-g-lm5\">LM5 \u30a4\u30fc\u30eb\u30c9\u30ab\u30fc\u30d6\u6226\u7565<\/a><a href=\"#l3-pmp-g-lm6\">LM6 \u50b5\u5238\u30a2\u30af\u30c6\u30a3\u30d6\u904b\u7528\uff1a\u30af\u30ec\u30b8\u30c3\u30c8\u6226\u7565<\/a><a href=\"#l3-pmp-g-lm7\">LM7 \u58f2\u8cb7\u6226\u7565\u3068\u57f7\u884c<\/a><a href=\"#l3-pmp-g-lm8\">LM8 \u30b1\u30fc\u30b9\u30b9\u30bf\u30c7\u30a3\uff1a\u6a5f\u95a2\u6295\u8cc7\u5bb6\uff08\u30a8\u30f3\u30c0\u30a6\u30e1\u30f3\u30c8\uff09<\/a><\/div>\n<h2>PM Pathway \u306e\u91cd\u8981\u7528\u8a9e\uff08LM\u5225\uff09<\/h2>\n<h3 id=\"l3-pmp-g-lm1\">LM1 Index-Based Equity Strategies\uff08\u30a4\u30f3\u30c7\u30c3\u30af\u30b9\u578b\u306e\u682a\u5f0f\u6226\u7565\uff09<\/h3>\n<div class=\"cfagl-lm\">\u3053\u306e\u5358\u5143\u306e\u8981\u70b9\u89e3\u8aac\uff1a<a href=\"https:\/\/triumphmind.com\/cfa\/2026\/09\/22\/cfa-l3-pmp-lm1\/\">LM1 \u30a4\u30f3\u30c7\u30c3\u30af\u30b9\u578b\u306e\u682a\u5f0f\u6226\u7565<\/a><\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Market-Capitalization-Weighted Index<\/div>\n<div class=\"ja\">\u6642\u4fa1\u7dcf\u984d\u52a0\u91cd\u30a4\u30f3\u30c7\u30c3\u30af\u30b9<\/div>\n<div class=\"df\">\u69cb\u6210\u9298\u67c4\u3092\u6642\u4fa1\u7dcf\u984d\u306e\u6bd4\u7387\u3067\u7d44\u307f\u5165\u308c\u308b\u6307\u6570\u3002\u5e02\u5834\u5168\u4f53\u306e\u59ff\u3092\u305d\u306e\u307e\u307e\u53cd\u6620\u3057\u3001\u58f2\u8cb7\u56de\u8ee2\u7387\u3068\u30b3\u30b9\u30c8\u304c\u4f4e\u3044\u4e00\u65b9\u3001\u5024\u4e0a\u304c\u308a\u3057\u305f\u9298\u67c4\u307b\u3069\u6bd4\u91cd\u304c\u5927\u304d\u304f\u306a\u308b\u3002<\/div>\n<\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Factor-Based Strategy (Smart Beta)<\/div>\n<div class=\"ja\">\u30d5\u30a1\u30af\u30bf\u30fc\u30fb\u30d9\u30fc\u30b9\u6226\u7565\uff08\u30b9\u30de\u30fc\u30c8\u30fb\u30d9\u30fc\u30bf\uff09<\/div>\n<div class=\"df\">\u898f\u6a21\u30fb\u30d0\u30ea\u30e5\u30fc\u30fb\u30e2\u30e1\u30f3\u30bf\u30e0\u30fb\u4f4e\u30dc\u30e9\u30c6\u30a3\u30ea\u30c6\u30a3\u306a\u3069\u7279\u5b9a\u306e\u30d5\u30a1\u30af\u30bf\u30fc\u306b\u3001\u900f\u660e\u306a\u30eb\u30fc\u30eb\u3067\u50be\u3051\u305f\u30a4\u30f3\u30c7\u30c3\u30af\u30b9\u6226\u7565\u3002\u6642\u4fa1\u7dcf\u984d\u52a0\u91cd\u3068\u306f\u7570\u306a\u308b\u30ea\u30b9\u30af\u30fb\u30ea\u30bf\u30fc\u30f3\u7279\u6027\u3092\u72d9\u3046\u3002<\/div>\n<\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Full Replication<\/div>\n<div class=\"ja\">\u5b8c\u5168\u6cd5\uff08\u30d5\u30eb\u30fb\u30ec\u30d7\u30ea\u30b1\u30fc\u30b7\u30e7\u30f3\uff09<\/div>\n<div class=\"df\">\u6307\u6570\u306e\u5168\u69cb\u6210\u9298\u67c4\u3092\u6307\u6570\u3068\u540c\u3058\u6bd4\u7387\u3067\u4fdd\u6709\u3059\u308b\u69cb\u7bc9\u65b9\u6cd5\u3002\u30c8\u30e9\u30c3\u30ad\u30f3\u30b0\u30fb\u30a8\u30e9\u30fc\u3092\u6700\u3082\u5c0f\u3055\u304f\u3067\u304d\u308b\u304c\u3001\u5341\u5206\u306a\u904b\u7528\u898f\u6a21\u3068\u69cb\u6210\u9298\u67c4\u306e\u6d41\u52d5\u6027\u304c\u5fc5\u8981\u3068\u306a\u308b\u3002<\/div>\n<\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Stratified Sampling<\/div>\n<div class=\"ja\">\u5c64\u5316\u62bd\u51fa\u6cd5<\/div>\n<div class=\"df\">\u6307\u6570\u3092\u30bb\u30af\u30bf\u30fc\u3084\u898f\u6a21\u306a\u3069\u306e\u5c64\u306b\u5206\u3051\u3001\u5404\u5c64\u306e\u7279\u6027\u3092\u4ee3\u8868\u3059\u308b\u9298\u67c4\u3092\u9078\u3093\u3067\u4fdd\u6709\u3059\u308b\u69cb\u7bc9\u65b9\u6cd5\u3002\u69cb\u6210\u9298\u67c4\u304c\u591a\u3044\u6307\u6570\u3067\u3082\u53d6\u5f15\u30b3\u30b9\u30c8\u3092\u6291\u3048\u3066\u8ffd\u968f\u3067\u304d\u308b\u3002<\/div>\n<\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Optimization Approach<\/div>\n<div class=\"ja\">\u6700\u9069\u5316\u6cd5<\/div>\n<div class=\"df\">\u30ea\u30b9\u30af\u30fb\u30e2\u30c7\u30eb\u3092\u7528\u3044\u3001\u6307\u6570\u3068\u306e\u4e88\u60f3\u30c8\u30e9\u30c3\u30ad\u30f3\u30b0\u30fb\u30a8\u30e9\u30fc\u304c\u6700\u5c0f\u3068\u306a\u308b\u3088\u3046\u9298\u67c4\u3068\u6bd4\u7387\u3092\u6c7a\u3081\u308b\u69cb\u7bc9\u65b9\u6cd5\u3002\u7d50\u679c\u306f\u30e2\u30c7\u30eb\u306e\u7cbe\u5ea6\u306b\u4f9d\u5b58\u3057\u3001\u983b\u7e41\u306a\u898b\u76f4\u3057\u304c\u5fc5\u8981\u306b\u306a\u308a\u3084\u3059\u3044\u3002<\/div>\n<\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Tracking Error<\/div>\n<div class=\"ja\">\u30c8\u30e9\u30c3\u30ad\u30f3\u30b0\u30fb\u30a8\u30e9\u30fc<\/div>\n<div class=\"df\">\u30dd\u30fc\u30c8\u30d5\u30a9\u30ea\u30aa\u3068\u30d9\u30f3\u30c1\u30de\u30fc\u30af\u306e\u30ea\u30bf\u30fc\u30f3\u5dee\u306e\u6a19\u6e96\u504f\u5dee\u3002\u30a4\u30f3\u30c7\u30c3\u30af\u30b9\u904b\u7528\u3067\u306f\u3001\u624b\u6570\u6599\u30fb\u53d6\u5f15\u30b3\u30b9\u30c8\u30fb\u73fe\u91d1\u4fdd\u6709\u306a\u3069\u306b\u3088\u308b\u6307\u6570\u304b\u3089\u306e\u305a\u308c\u306e\u5927\u304d\u3055\u3092\u8868\u3059\u3002<\/div>\n<\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Cash Drag<\/div>\n<div class=\"ja\">\u30ad\u30e3\u30c3\u30b7\u30e5\u30fb\u30c9\u30e9\u30c3\u30b0<\/div>\n<div class=\"df\">\u73fe\u91d1\u3092\u4fdd\u6709\u3059\u308b\u3053\u3068\u3067\u682a\u5f0f\u90e8\u5206\u306e\u30ea\u30bf\u30fc\u30f3\u304c\u8584\u307e\u308a\u3001\u6307\u6570\u3068\u306e\u5dee\u304c\u751f\u3058\u308b\u73fe\u8c61\u3002\u914d\u5f53\u53d7\u53d6\u304b\u3089\u518d\u6295\u8cc7\u307e\u3067\u306e\u9045\u308c\u306a\u3069\u3067\u767a\u751f\u3057\u3001\u4e0a\u6607\u76f8\u5834\u3067\u4e0d\u5229\u306b\u50cd\u304f\u3002<\/div>\n<\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Equitization<\/div>\n<div class=\"ja\">\u30a8\u30af\u30a4\u30bf\u30a4\u30bc\u30fc\u30b7\u30e7\u30f3<\/div>\n<div class=\"df\">\u682a\u4fa1\u6307\u6570\u5148\u7269\u306a\u3069\u3092\u7528\u3044\u3066\u3001\u30dd\u30fc\u30c8\u30d5\u30a9\u30ea\u30aa\u5185\u306e\u73fe\u91d1\u90e8\u5206\u306b\u3082\u682a\u5f0f\u30a8\u30af\u30b9\u30dd\u30fc\u30b8\u30e3\u30fc\u3092\u6301\u305f\u305b\u308b\u624b\u6cd5\u3002\u30ad\u30e3\u30c3\u30b7\u30e5\u30fb\u30c9\u30e9\u30c3\u30b0\u3092\u6291\u3048\u308b\u76ee\u7684\u3067\u7528\u3044\u308b\u3002<\/div>\n<\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Securities Lending<\/div>\n<div class=\"ja\">\u8cb8\u682a\uff08\u30bb\u30ad\u30e5\u30ea\u30c6\u30a3\u30fc\u30ba\u30fb\u30ec\u30f3\u30c7\u30a3\u30f3\u30b0\uff09<\/div>\n<div class=\"df\">\u4fdd\u6709\u9298\u67c4\u3092\u4ed6\u8005\u306b\u8cb8\u3057\u51fa\u3057\u3066\u8cb8\u682a\u6599\u3092\u5f97\u308b\u53d6\u5f15\u3002\u30a4\u30f3\u30c7\u30c3\u30af\u30b9\u30fb\u30d5\u30a1\u30f3\u30c9\u306e\u904b\u7528\u30b3\u30b9\u30c8\u3092\u76f8\u6bba\u3059\u308b\u53ce\u5165\u6e90\u3068\u306a\u308b\u4e00\u65b9\u3001\u501f\u308a\u624b\u306e\u30ab\u30a6\u30f3\u30bf\u30fc\u30d1\u30fc\u30c6\u30a3\u30fb\u30ea\u30b9\u30af\u3092\u4f34\u3046\u3002<\/div>\n<\/div>\n<h3 id=\"l3-pmp-g-lm2\">LM2 Active Equity Investing: Strategies\uff08\u30a2\u30af\u30c6\u30a3\u30d6\u682a\u5f0f\u6295\u8cc7\uff1a\u6226\u7565\uff09<\/h3>\n<div class=\"cfagl-lm\">\u3053\u306e\u5358\u5143\u306e\u8981\u70b9\u89e3\u8aac\uff1a<a href=\"https:\/\/triumphmind.com\/cfa\/2026\/09\/22\/cfa-l3-pmp-lm2\/\">LM2 \u30a2\u30af\u30c6\u30a3\u30d6\u682a\u5f0f\u6295\u8cc7\uff1a\u6226\u7565<\/a><\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Fundamental Approach<\/div>\n<div class=\"ja\">\u30d5\u30a1\u30f3\u30c0\u30e1\u30f3\u30bf\u30eb\u30fb\u30a2\u30d7\u30ed\u30fc\u30c1\uff08\u88c1\u91cf\u578b\u904b\u7528\uff09<\/div>\n<div class=\"df\">\u4f01\u696d\u30fb\u696d\u754c\u306e\u6df1\u3044\u30ea\u30b5\u30fc\u30c1\u3068\u904b\u7528\u8005\u306e\u5224\u65ad\u306b\u3082\u3068\u3065\u304d\u3001\u6bd4\u8f03\u7684\u5c11\u6570\u306e\u9298\u67c4\u3092\u9078\u3076\u30a2\u30af\u30c6\u30a3\u30d6\u904b\u7528\u3002\u5c06\u6765\u306e\u696d\u7e3e\u898b\u901a\u3057\u3092\u91cd\u8996\u3059\u308b\u70b9\u304c\u30af\u30aa\u30f3\u30c4\u904b\u7528\u3068\u7570\u306a\u308b\u3002<\/div>\n<\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Quantitative Approach<\/div>\n<div class=\"ja\">\u30af\u30aa\u30f3\u30c4\u30fb\u30a2\u30d7\u30ed\u30fc\u30c1\uff08\u30b7\u30b9\u30c6\u30de\u30c6\u30a3\u30c3\u30af\u904b\u7528\uff09<\/div>\n<div class=\"df\">\u30c7\u30fc\u30bf\u3068\u30eb\u30fc\u30eb\u306b\u3082\u3068\u3065\u304f\u30e2\u30c7\u30eb\u3092\u591a\u6570\u306e\u9298\u67c4\u306b\u9069\u7528\u3057\u3066\u6295\u8cc7\u5224\u65ad\u3092\u884c\u3046\u30a2\u30af\u30c6\u30a3\u30d6\u904b\u7528\u3002\u904e\u53bb\u30c7\u30fc\u30bf\u306b\u3088\u308b\u691c\u8a3c\u3068\u6700\u9069\u5316\u306b\u3088\u308b\u30ea\u30b9\u30af\u7ba1\u7406\u3092\u7279\u5fb4\u3068\u3059\u308b\u3002<\/div>\n<\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Value Trap<\/div>\n<div class=\"ja\">\u30d0\u30ea\u30e5\u30fc\u30fb\u30c8\u30e9\u30c3\u30d7<\/div>\n<div class=\"df\">\u30d0\u30ea\u30e5\u30a8\u30fc\u30b7\u30e7\u30f3\u6307\u6a19\u4e0a\u306f\u5272\u5b89\u306b\u898b\u3048\u308b\u3082\u306e\u306e\u3001\u696d\u7e3e\u3084\u4e8b\u696d\u4fa1\u5024\u304c\u6539\u5584\u3057\u306a\u3044\u305f\u3081\u682a\u4fa1\u304c\u56de\u5fa9\u305b\u305a\u3001\u5272\u5b89\u306a\u72b6\u614b\u304c\u7d9a\u304f\u3001\u3042\u308b\u3044\u306f\u3055\u3089\u306b\u4e0b\u843d\u3059\u308b\u9298\u67c4\u3002<\/div>\n<\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Growth Trap<\/div>\n<div class=\"ja\">\u30b0\u30ed\u30fc\u30b9\u30fb\u30c8\u30e9\u30c3\u30d7<\/div>\n<div class=\"df\">\u9ad8\u3044\u6210\u9577\u671f\u5f85\u3092\u7e54\u308a\u8fbc\u3093\u3067\u9ad8\u3044\u8a55\u4fa1\u3092\u53d7\u3051\u3066\u3044\u305f\u9298\u67c4\u304c\u3001\u671f\u5f85\u3069\u304a\u308a\u306e\u6210\u9577\u3092\u5b9f\u73fe\u3067\u304d\u305a\u3001\u682a\u4fa1\u304c\u4e0b\u843d\u3059\u308b\u72b6\u6cc1\u3002<\/div>\n<\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Activist Investing<\/div>\n<div class=\"ja\">\u30a2\u30af\u30c6\u30a3\u30d3\u30b9\u30c8\u6295\u8cc7<\/div>\n<div class=\"df\">\u4e0a\u5834\u4f01\u696d\u306e\u76f8\u5f53\u6570\u306e\u682a\u5f0f\u3092\u53d6\u5f97\u3057\u3001\u7d4c\u55b6\u30fb\u6226\u7565\u30fb\u8cc7\u672c\u69cb\u6210\u306e\u5909\u66f4\u3092\u50cd\u304d\u304b\u3051\u3066\u682a\u4fa1\u306e\u4e0a\u6607\u3092\u72d9\u3046\u6226\u7565\u3002\u5bfe\u8a71\u3001\u516c\u958b\u66f8\u7c21\u3001\u59d4\u4efb\u72b6\u4e89\u596a\u6226\u306a\u3069\u306e\u624b\u6bb5\u3092\u7528\u3044\u308b\u3002<\/div>\n<\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Pairs Trading<\/div>\n<div class=\"ja\">\u30da\u30a2\u30fb\u30c8\u30ec\u30fc\u30c9<\/div>\n<div class=\"df\">\u904e\u53bb\u306b\u9023\u52d5\u3057\u3066\u304d\u305f2\u9298\u67c4\u306e\u4fa1\u683c\u95a2\u4fc2\u304c\u5d29\u308c\u305f\u3068\u304d\u3001\u5272\u5b89\u5074\u3092\u8cb7\u3044\u5272\u9ad8\u5074\u3092\u58f2\u3063\u3066\u3001\u5e73\u5747\u56de\u5e30\u306b\u3088\u308b\u5229\u76ca\u3092\u72d9\u3046\u7d71\u8a08\u7684\u88c1\u5b9a\u306e\u4ee3\u8868\u7684\u306a\u624b\u6cd5\u3002<\/div>\n<\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Look-Ahead Bias<\/div>\n<div class=\"ja\">\u5148\u8aad\u307f\u30d0\u30a4\u30a2\u30b9<\/div>\n<div class=\"df\">\u30d0\u30c3\u30af\u30c6\u30b9\u30c8\u3067\u3001\u305d\u306e\u6642\u70b9\u3067\u306f\u5165\u624b\u3067\u304d\u306a\u304b\u3063\u305f\u60c5\u5831\u3092\u4f7f\u3063\u3066\u3057\u307e\u3046\u3053\u3068\u306b\u3088\u308b\u504f\u308a\u3002\u8ca1\u52d9\u30c7\u30fc\u30bf\u306e\u516c\u8868\u307e\u3067\u306e\u9045\u308c\u3092\u7121\u8996\u3057\u305f\u5834\u5408\u306a\u3069\u306b\u751f\u3058\u308b\u3002<\/div>\n<\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Survivorship Bias<\/div>\n<div class=\"ja\">\u751f\u5b58\u8005\u30d0\u30a4\u30a2\u30b9<\/div>\n<div class=\"df\">\u4e0a\u5834\u5ec3\u6b62\u3084\u5012\u7523\u3067\u6d88\u6ec5\u3057\u305f\u9298\u67c4\u3092\u30c7\u30fc\u30bf\u304b\u3089\u9664\u5916\u3059\u308b\u3053\u3068\u3067\u3001\u6226\u7565\u306e\u6210\u7e3e\u304c\u5b9f\u969b\u3088\u308a\u826f\u304f\u898b\u3048\u3066\u3057\u307e\u3046\u504f\u308a\u3002<\/div>\n<\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Holdings-Based Style Analysis<\/div>\n<div class=\"ja\">\u4fdd\u6709\u9298\u67c4\u30d9\u30fc\u30b9\u306e\u30b9\u30bf\u30a4\u30eb\u5206\u6790<\/div>\n<div class=\"df\">\u4fdd\u6709\u3059\u308b\u5404\u9298\u67c4\u306e\u30b9\u30bf\u30a4\u30eb\u7279\u6027\u3092\u6bd4\u7387\u3067\u96c6\u8a08\u3057\u3066\u30dd\u30fc\u30c8\u30d5\u30a9\u30ea\u30aa\u306e\u30b9\u30bf\u30a4\u30eb\u3092\u5224\u5b9a\u3059\u308b\u65b9\u6cd5\u3002\u73fe\u6642\u70b9\u306e\u59ff\u3092\u6b63\u78ba\u306b\u6349\u3048\u3089\u308c\u308b\u304c\u3001\u30c7\u30fc\u30bf\u306e\u8ca0\u62c5\u304c\u5927\u304d\u3044\u3002<\/div>\n<\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Returns-Based Style Analysis<\/div>\n<div class=\"ja\">\u30ea\u30bf\u30fc\u30f3\u30fb\u30d9\u30fc\u30b9\u306e\u30b9\u30bf\u30a4\u30eb\u5206\u6790<\/div>\n<div class=\"df\">\u30d5\u30a1\u30f3\u30c9\u306e\u30ea\u30bf\u30fc\u30f3\u3092\u8907\u6570\u306e\u30b9\u30bf\u30a4\u30eb\u6307\u6570\u306e\u30ea\u30bf\u30fc\u30f3\u306b\u56de\u5e30\u3057\u3001\u5b9f\u8cea\u7684\u306a\u6295\u8cc7\u30b9\u30bf\u30a4\u30eb\u3092\u63a8\u5b9a\u3059\u308b\u65b9\u6cd5\u3002\u5c11\u306a\u3044\u30c7\u30fc\u30bf\u3067\u884c\u3048\u308b\u304c\u3001\u904e\u53bb\u306e\u5e73\u5747\u7684\u306a\u59ff\u3092\u793a\u3059\u3002<\/div>\n<\/div>\n<h3 id=\"l3-pmp-g-lm3\">LM3 Active Equity Investing: Portfolio Construction\uff08\u30a2\u30af\u30c6\u30a3\u30d6\u682a\u5f0f\u6295\u8cc7\uff1a\u30dd\u30fc\u30c8\u30d5\u30a9\u30ea\u30aa\u69cb\u7bc9\uff09<\/h3>\n<div class=\"cfagl-lm\">\u3053\u306e\u5358\u5143\u306e\u8981\u70b9\u89e3\u8aac\uff1a<a href=\"https:\/\/triumphmind.com\/cfa\/2026\/09\/22\/cfa-l3-pmp-lm3\/\">LM3 \u30a2\u30af\u30c6\u30a3\u30d6\u682a\u5f0f\u6295\u8cc7\uff1a\u30dd\u30fc\u30c8\u30d5\u30a9\u30ea\u30aa\u69cb\u7bc9<\/a><\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Active Share<\/div>\n<div class=\"ja\">\u30a2\u30af\u30c6\u30a3\u30d6\u30fb\u30b7\u30a7\u30a2<\/div>\n<div class=\"df\">\u4fdd\u6709\u9298\u67c4\u3068\u305d\u306e\u6bd4\u7387\u304c\u30d9\u30f3\u30c1\u30de\u30fc\u30af\u3068\u3069\u308c\u3060\u3051\u7570\u306a\u308b\u304b\u3092\u793a\u3059\u6307\u6a19\u3067\u30010\u301c100%\u306e\u5024\u3092\u3068\u308b\u3002\u5404\u9298\u67c4\u306e\u30a6\u30a7\u30a4\u30c8\u5dee\u306e\u7d76\u5bfe\u5024\u5408\u8a08\u306e2\u5206\u306e1\u3067\u6c42\u3081\u308b\u3002<\/div>\n<\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Active Risk<\/div>\n<div class=\"ja\">\u30a2\u30af\u30c6\u30a3\u30d6\u30fb\u30ea\u30b9\u30af<\/div>\n<div class=\"df\">\u30dd\u30fc\u30c8\u30d5\u30a9\u30ea\u30aa\u3068\u30d9\u30f3\u30c1\u30de\u30fc\u30af\u306e\u30ea\u30bf\u30fc\u30f3\u5dee\u306e\u6a19\u6e96\u504f\u5dee\uff08\u30c8\u30e9\u30c3\u30ad\u30f3\u30b0\u30fb\u30a8\u30e9\u30fc\uff09\u3002\u30d5\u30a1\u30af\u30bf\u30fc\u30fb\u30a8\u30af\u30b9\u30dd\u30fc\u30b8\u30e3\u30fc\u306e\u5dee\u306b\u3088\u308b\u30ea\u30b9\u30af\u3068\u9298\u67c4\u56fa\u6709\u30ea\u30b9\u30af\u304b\u3089\u751f\u3058\u308b\u3002<\/div>\n<\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Closet Indexer<\/div>\n<div class=\"ja\">\u30af\u30ed\u30fc\u30bc\u30c3\u30c8\u30fb\u30a4\u30f3\u30c7\u30af\u30b5\u30fc<\/div>\n<div class=\"df\">\u30a2\u30af\u30c6\u30a3\u30d6\u904b\u7528\u3092\u3046\u305f\u3044\u306a\u304c\u3089\u3001\u30a2\u30af\u30c6\u30a3\u30d6\u30fb\u30b7\u30a7\u30a2\u3068\u30a2\u30af\u30c6\u30a3\u30d6\u30fb\u30ea\u30b9\u30af\u304c\u3068\u3082\u306b\u4f4e\u304f\u3001\u5b9f\u614b\u306f\u30d9\u30f3\u30c1\u30de\u30fc\u30af\u306b\u8fd1\u3044\u30dd\u30fc\u30c8\u30d5\u30a9\u30ea\u30aa\u3092\u4fdd\u6709\u3059\u308b\u904b\u7528\u8005\u3002<\/div>\n<\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Breadth<\/div>\n<div class=\"ja\">\u30d6\u30ec\u30c3\u30c9\u30b9<\/div>\n<div class=\"df\">\u904b\u7528\u8005\u304c\u884c\u3046\u72ec\u7acb\u3057\u305f\u6295\u8cc7\u5224\u65ad\u306e\u6570\u3002\u76f8\u95a2\u306e\u4f4e\u3044\u72ec\u7acb\u3057\u305f\u5224\u65ad\u304c\u591a\u3044\u307b\u3069\u3001\u8d85\u904e\u30ea\u30bf\u30fc\u30f3\u304c\u5b89\u5b9a\u3057\u3084\u3059\u304f\u306a\u308b\u3002<\/div>\n<\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Risk Budgeting<\/div>\n<div class=\"ja\">\u30ea\u30b9\u30af\u30fb\u30d0\u30b8\u30a7\u30c3\u30c6\u30a3\u30f3\u30b0<\/div>\n<div class=\"df\">\u30dd\u30fc\u30c8\u30d5\u30a9\u30ea\u30aa\u5168\u4f53\u3067\u8a31\u5bb9\u3059\u308b\u30ea\u30b9\u30af\u91cf\u3092\u6c7a\u3081\u3001\u305d\u308c\u3092\u30d5\u30a1\u30af\u30bf\u30fc\u3084\u500b\u5225\u30dd\u30b8\u30b7\u30e7\u30f3\u306a\u3069\u306e\u69cb\u6210\u8981\u7d20\u306b\u914d\u5206\u3059\u308b\u30d7\u30ed\u30bb\u30b9\u3002\u610f\u56f3\u3057\u306a\u3044\u30ea\u30b9\u30af\u306e\u96c6\u4e2d\u3092\u907f\u3051\u308b\u76ee\u7684\u304c\u3042\u308b\u3002<\/div>\n<\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Value at Risk (VaR)<\/div>\n<div class=\"ja\">\u30d0\u30ea\u30e5\u30fc\u30fb\u30a2\u30c3\u30c8\u30fb\u30ea\u30b9\u30af\uff08VaR\uff09<\/div>\n<div class=\"df\">\u6240\u5b9a\u306e\u671f\u9593\u3068\u78ba\u7387\u306e\u3082\u3068\u3067\u751f\u3058\u3046\u308b\u6700\u5c0f\u640d\u5931\u984d\u3002\u4f8b\u3048\u30705%\u306eVaR\u306f\u30015%\u306e\u78ba\u7387\u3067\u305d\u308c\u4ee5\u4e0a\u306e\u640d\u5931\u304c\u767a\u751f\u3059\u308b\u91d1\u984d\u3092\u793a\u3059\u3002<\/div>\n<\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Conditional Value at Risk (CVaR)<\/div>\n<div class=\"ja\">\u6761\u4ef6\u4ed8\u304dVaR\uff08\u671f\u5f85\u30b7\u30e7\u30fc\u30c8\u30d5\u30a9\u30fc\u30eb\uff09<\/div>\n<div class=\"df\">\u640d\u5931\u304cVaR\u3092\u8d85\u3048\u305f\u5834\u5408\u306e\u5e73\u5747\u640d\u5931\u984d\u3002VaR\u304c\u793a\u3059\u95be\u5024\u306e\u5148\u306b\u3042\u308b\u3001\u5206\u5e03\u306e\u88fe\uff08\u30c6\u30fc\u30eb\uff09\u90e8\u5206\u306e\u640d\u5931\u306e\u5927\u304d\u3055\u3092\u8868\u3059\u3002<\/div>\n<\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Slippage<\/div>\n<div class=\"ja\">\u30b9\u30ea\u30c3\u30da\u30fc\u30b8<\/div>\n<div class=\"df\">\u58f2\u8cb7\u3092\u6c7a\u3081\u305f\u6642\u70b9\u3084\u6ce8\u6587\u6642\u70b9\u306e\u4fa1\u683c\u3068\u3001\u5b9f\u969b\u306e\u7d04\u5b9a\u4fa1\u683c\u3068\u306e\u5dee\u304b\u3089\u751f\u3058\u308b\u6697\u9ed9\u7684\u30b3\u30b9\u30c8\u3002\u5c0f\u578b\u682a\u3084\u9ad8\u30dc\u30e9\u30c6\u30a3\u30ea\u30c6\u30a3\u306e\u5c40\u9762\u3067\u5927\u304d\u304f\u306a\u308a\u3084\u3059\u3044\u3002<\/div>\n<\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Long Extension (130\/30)<\/div>\n<div class=\"ja\">\u30ed\u30f3\u30b0\u30fb\u30a8\u30af\u30b9\u30c6\u30f3\u30b7\u30e7\u30f3\uff08130\/30\u6226\u7565\uff09<\/div>\n<div class=\"df\">\u8cc7\u672c\u306e\u4e00\u5b9a\u5272\u5408\u3092\u30b7\u30e7\u30fc\u30c8\u3057\u3001\u305d\u306e\u8cc7\u91d1\u3067\u30ed\u30f3\u30b0\u3092\u7a4d\u307f\u5897\u3059\u69cb\u7bc9\u65b9\u6cd5\u3002\u30cd\u30c3\u30c8\u306e\u5e02\u5834\u30a8\u30af\u30b9\u30dd\u30fc\u30b8\u30e3\u30fc\u3092100%\u306b\u4fdd\u3063\u305f\u307e\u307e\u3001\u5272\u9ad8\u9298\u67c4\u306b\u3064\u3044\u3066\u306e\u898b\u65b9\u3082\u6d3b\u7528\u3067\u304d\u308b\u3002<\/div>\n<\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Equitized Market-Neutral<\/div>\n<div class=\"ja\">\u30a8\u30af\u30a4\u30bf\u30a4\u30ba\u30c9\u30fb\u30de\u30fc\u30b1\u30c3\u30c8\u30fb\u30cb\u30e5\u30fc\u30c8\u30e9\u30eb<\/div>\n<div class=\"df\">\u5e02\u5834\u30ea\u30b9\u30af\u3092\u307b\u307c\u30bc\u30ed\u306b\u3057\u305f\u30ed\u30f3\u30b0\uff0f\u30b7\u30e7\u30fc\u30c8\u306e\u30dd\u30fc\u30c8\u30d5\u30a9\u30ea\u30aa\u306b\u682a\u4fa1\u6307\u6570\u5148\u7269\u306a\u3069\u3092\u52a0\u3048\u3001\u9298\u67c4\u9078\u629e\u306b\u3088\u308b\u30a2\u30eb\u30d5\u30a1\u306b\u5e02\u5834\u30ea\u30bf\u30fc\u30f3\u3092\u4e0a\u4e57\u305b\u3059\u308b\u69cb\u7bc9\u65b9\u6cd5\u3002<\/div>\n<\/div>\n<h3 id=\"l3-pmp-g-lm4\">LM4 Liability-Driven and Index-Based Strategies\uff08\u8ca0\u50b5\u4e3b\u5c0e\u578b\u30fb\u30a4\u30f3\u30c7\u30c3\u30af\u30b9\u578b\u306e\u50b5\u5238\u6226\u7565\uff09<\/h3>\n<div class=\"cfagl-lm\">\u3053\u306e\u5358\u5143\u306e\u8981\u70b9\u89e3\u8aac\uff1a<a href=\"https:\/\/triumphmind.com\/cfa\/2026\/09\/22\/cfa-l3-pmp-lm4\/\">LM4 \u8ca0\u50b5\u4e3b\u5c0e\u578b\u30fb\u30a4\u30f3\u30c7\u30c3\u30af\u30b9\u578b\u306e\u50b5\u5238\u6226\u7565<\/a><\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Immunization<\/div>\n<div class=\"ja\">\u30a4\u30df\u30e5\u30cb\u30bc\u30fc\u30b7\u30e7\u30f3<\/div>\n<div class=\"df\">\u65e2\u77e5\u306e\u6295\u8cc7\u671f\u9593\u306b\u304a\u3051\u308b\u5b9f\u73fe\u53ce\u76ca\u7387\u306e\u3070\u3089\u3064\u304d\u3092\u6700\u5c0f\u306b\u3059\u308b\u3088\u3046\u3001\u50b5\u5238\u30dd\u30fc\u30c8\u30d5\u30a9\u30ea\u30aa\u3092\u69cb\u7bc9\u30fb\u7ba1\u7406\u3059\u308b\u624b\u6cd5\u3002\u91d1\u5229\u5909\u5316\u306b\u3088\u308b\u4fa1\u683c\u30ea\u30b9\u30af\u3068\u518d\u6295\u8cc7\u30ea\u30b9\u30af\u3092\u76f8\u6bba\u3055\u305b\u308b\u3002<\/div>\n<\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Cash Flow Yield<\/div>\n<div class=\"ja\">\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u5229\u56de\u308a<\/div>\n<div class=\"df\">\u30dd\u30fc\u30c8\u30d5\u30a9\u30ea\u30aa\u5168\u4f53\u306e\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u304b\u3089\u6c42\u3081\u305f\u5185\u90e8\u53ce\u76ca\u7387\u3002\u30a4\u30df\u30e5\u30cb\u30bc\u30fc\u30b7\u30e7\u30f3\u3067\u78ba\u5b9a\u3055\u305b\u308b\u5229\u56de\u308a\u3067\u3042\u308a\u3001\u5404\u50b5\u5238\u306e\u6700\u7d42\u5229\u56de\u308a\u306e\u52a0\u91cd\u5e73\u5747\u3068\u306f\u7570\u306a\u308b\u3002<\/div>\n<\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Cash Flow Matching<\/div>\n<div class=\"ja\">\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u30fb\u30de\u30c3\u30c1\u30f3\u30b0<\/div>\n<div class=\"df\">\u8ca0\u50b5\u306e\u5404\u652f\u6255\u671f\u65e5\u3068\u91d1\u984d\u306b\u3001\u50b5\u5238\u306e\u5143\u5229\u91d1\u306e\u53d7\u53d6\u3092\u5408\u308f\u305b\u308b\u8ca0\u50b5\u5bfe\u5fdc\u6226\u7565\u3002\u518d\u6295\u8cc7\u30ea\u30b9\u30af\u304c\u307b\u3068\u3093\u3069\u306a\u3044\u4e00\u65b9\u3001\u69cb\u7bc9\u30b3\u30b9\u30c8\u304c\u9ad8\u304f\u306a\u308a\u3084\u3059\u3044\u3002<\/div>\n<\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Money Duration<\/div>\n<div class=\"ja\">\u30de\u30cd\u30fc\u30fb\u30c7\u30e5\u30ec\u30fc\u30b7\u30e7\u30f3<\/div>\n<div class=\"df\">\u4fee\u6b63\u30c7\u30e5\u30ec\u30fc\u30b7\u30e7\u30f3\u306b\u6642\u4fa1\u3092\u639b\u3051\u305f\u3001\u91d1\u984d\u30d9\u30fc\u30b9\u306e\u91d1\u5229\u611f\u5fdc\u5ea6\u3002\u8907\u6570\u8ca0\u50b5\u306e\u30a4\u30df\u30e5\u30cb\u30bc\u30fc\u30b7\u30e7\u30f3\u3067\u306f\u3001\u8cc7\u7523\u3068\u8ca0\u50b5\u3067\u3053\u308c\u3092\u4e00\u81f4\u3055\u305b\u308b\u3002<\/div>\n<\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Basis Point Value (BPV)<\/div>\n<div class=\"ja\">\u30d9\u30fc\u30b7\u30b9\u30fb\u30dd\u30a4\u30f3\u30c8\u30fb\u30d0\u30ea\u30e5\u30fc\uff08BPV\uff09<\/div>\n<div class=\"df\">\u5229\u56de\u308a\u304c1bp\u5909\u5316\u3057\u305f\u3068\u304d\u306e\u4fa1\u5024\u306e\u5909\u5316\u984d\u3002\u30de\u30cd\u30fc\u30fb\u30c7\u30e5\u30ec\u30fc\u30b7\u30e7\u30f3\u306b0.0001\u3092\u639b\u3051\u3066\u6c42\u3081\u3001\u6642\u4fa1\u306e\u7570\u306a\u308b\u8cc7\u7523\u3068\u8ca0\u50b5\u306e\u91d1\u5229\u611f\u5fdc\u5ea6\u306e\u6bd4\u8f03\u306b\u7528\u3044\u308b\u3002<\/div>\n<\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Contingent Immunization<\/div>\n<div class=\"ja\">\u30b3\u30f3\u30c6\u30a3\u30f3\u30b8\u30a7\u30f3\u30c8\u30fb\u30a4\u30df\u30e5\u30cb\u30bc\u30fc\u30b7\u30e7\u30f3<\/div>\n<div class=\"df\">\u8cc7\u7523\u3068\u8ca0\u50b5\u306e\u5dee\u3067\u3042\u308b\u30b5\u30fc\u30d7\u30e9\u30b9\u3092\u7a4d\u6975\u7684\u306b\u904b\u7528\u3057\u3001\u8ca0\u50b5\u8fd4\u6e08\u30b3\u30b9\u30c8\u306e\u524a\u6e1b\u3092\u72d9\u3046\u6226\u7565\u3002\u30b5\u30fc\u30d7\u30e9\u30b9\u304c\u4e00\u5b9a\u6c34\u6e96\u307e\u3067\u6e1b\u308c\u3070\u3001\u901a\u5e38\u306e\u30a4\u30df\u30e5\u30cb\u30bc\u30fc\u30b7\u30e7\u30f3\u306b\u5207\u308a\u66ff\u3048\u308b\u3002<\/div>\n<\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Hedge Ratio<\/div>\n<div class=\"ja\">\u30d8\u30c3\u30b8\u6bd4\u7387<\/div>\n<div class=\"df\">\u8cc7\u7523\u3068\u8ca0\u50b5\u306e\u30c7\u30e5\u30ec\u30fc\u30b7\u30e7\u30f3\u30fb\u30ae\u30e3\u30c3\u30d7\uff08BPV\u306e\u5dee\uff09\u306e\u3046\u3061\u3001\u30c7\u30ea\u30d0\u30c6\u30a3\u30d6\u3067\u57cb\u3081\u308b\u5272\u5408\u30020%\u306f\u30d8\u30c3\u30b8\u306a\u3057\u3001100%\u306f\u5b8c\u5168\u306a\u30a4\u30df\u30e5\u30cb\u30bc\u30fc\u30b7\u30e7\u30f3\u3092\u610f\u5473\u3059\u308b\u3002<\/div>\n<\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Receiver Swaption<\/div>\n<div class=\"ja\">\u30ec\u30b7\u30fc\u30d0\u30fc\u30fb\u30b9\u30ef\u30c3\u30d7\u30b7\u30e7\u30f3<\/div>\n<div class=\"df\">\u5c06\u6765\u3001\u56fa\u5b9a\u91d1\u5229\u3092\u53d7\u3051\u53d6\u308b\u91d1\u5229\u30b9\u30ef\u30c3\u30d7\u3092\u958b\u59cb\u3059\u308b\u6a29\u5229\u3002\u91d1\u5229\u4f4e\u4e0b\u6642\u306e\u640d\u5931\u3092\u6291\u3048\u3064\u3064\u3001\u91d1\u5229\u4e0a\u6607\u6642\u306e\u5229\u76ca\u3082\u6b8b\u3059\u3053\u3068\u304c\u3067\u304d\u308b\u3002<\/div>\n<\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Structural Risk<\/div>\n<div class=\"ja\">\u69cb\u9020\u30ea\u30b9\u30af<\/div>\n<div class=\"df\">\u30a4\u30fc\u30eb\u30c9\u30ab\u30fc\u30d6\u306e\u975e\u5e73\u884c\u30b7\u30d5\u30c8\u3084\u30c4\u30a4\u30b9\u30c8\u306b\u3088\u308a\u3001\u8cc7\u7523\u3068\u8ca0\u50b5\u306e\u5229\u56de\u308a\u5909\u5316\u304c\u4e00\u81f4\u305b\u305a\u3001\u30a4\u30df\u30e5\u30cb\u30bc\u30fc\u30b7\u30e7\u30f3\u304c\u5d29\u308c\u308b\u30ea\u30b9\u30af\u3002\u8cc7\u7523\u306e\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u306e\u5206\u6563\u304c\u5927\u304d\u3044\u307b\u3069\u9ad8\u307e\u308b\u3002<\/div>\n<\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Enhanced Indexing<\/div>\n<div class=\"ja\">\u30a8\u30f3\u30cf\u30f3\u30b9\u30c8\u30fb\u30a4\u30f3\u30c7\u30c3\u30af\u30b9\u904b\u7528<\/div>\n<div class=\"df\">\u30c7\u30e5\u30ec\u30fc\u30b7\u30e7\u30f3\u3084\u30bb\u30af\u30bf\u30fc\u306a\u3069\u4e3b\u8981\u306a\u30ea\u30b9\u30af\u30fb\u30d5\u30a1\u30af\u30bf\u30fc\u3092\u6307\u6570\u306b\u5408\u308f\u305b\u3064\u3064\u3001\u5c0f\u3055\u306a\u4e56\u96e2\u3092\u8a31\u5bb9\u3057\u3066\u3001\u6307\u6570\u3092\u3084\u3084\u4e0a\u56de\u308b\u30ea\u30bf\u30fc\u30f3\u3092\u72d9\u3046\u50b5\u5238\u904b\u7528\u3002<\/div>\n<\/div>\n<h3 id=\"l3-pmp-g-lm5\">LM5 Yield Curve Strategies\uff08\u30a4\u30fc\u30eb\u30c9\u30ab\u30fc\u30d6\u6226\u7565\uff09<\/h3>\n<div class=\"cfagl-lm\">\u3053\u306e\u5358\u5143\u306e\u8981\u70b9\u89e3\u8aac\uff1a<a href=\"https:\/\/triumphmind.com\/cfa\/2026\/09\/22\/cfa-l3-pmp-lm5\/\">LM5 \u30a4\u30fc\u30eb\u30c9\u30ab\u30fc\u30d6\u6226\u7565<\/a><\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Rolldown Return<\/div>\n<div class=\"ja\">\u30ed\u30fc\u30eb\u30c0\u30a6\u30f3\u30fb\u30ea\u30bf\u30fc\u30f3<\/div>\n<div class=\"df\">\u53f3\u4e0a\u304c\u308a\u306e\u30a4\u30fc\u30eb\u30c9\u30ab\u30fc\u30d6\u304c\u5909\u308f\u3089\u306a\u3044\u307e\u307e\u6642\u9593\u304c\u7d4c\u904e\u3057\u3001\u6b8b\u5b58\u671f\u9593\u306e\u77ed\u7e2e\u306b\u4f34\u3044\u4f4e\u3044\u5229\u56de\u308a\u3067\u8a55\u4fa1\u3055\u308c\u308b\u3053\u3068\u3067\u751f\u3058\u308b\u50b5\u5238\u4fa1\u683c\u306e\u4e0a\u6607\u5206\u3002<\/div>\n<\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Rolling Yield<\/div>\n<div class=\"ja\">\u30ed\u30fc\u30ea\u30f3\u30b0\u30fb\u30a4\u30fc\u30eb\u30c9<\/div>\n<div class=\"df\">\u30af\u30fc\u30dd\u30f3\u53ce\u5165\u3068\u30ed\u30fc\u30eb\u30c0\u30a6\u30f3\u30fb\u30ea\u30bf\u30fc\u30f3\u306e\u5408\u8a08\u3002\u30a4\u30fc\u30eb\u30c9\u30ab\u30fc\u30d6\u304c\u5909\u5316\u3057\u306a\u3044\u524d\u63d0\u3067\u898b\u8fbc\u307e\u308c\u308b\u50b5\u5238\u306e\u30ea\u30bf\u30fc\u30f3\u3092\u8868\u3059\u3002<\/div>\n<\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Carry Trade<\/div>\n<div class=\"ja\">\u30ad\u30e3\u30ea\u30fc\u30fb\u30c8\u30ec\u30fc\u30c9<\/div>\n<div class=\"df\">\u4f4e\u3044\u5229\u56de\u308a\u3067\u77ed\u671f\u306e\u8cc7\u91d1\u3092\u8abf\u9054\u3057\u3001\u3088\u308a\u5229\u56de\u308a\u306e\u9ad8\u3044\u9577\u671f\u50b5\u306a\u3069\u306b\u6295\u8cc7\u3057\u3066\u5229\u56de\u308a\u5dee\u3092\u5f97\u308b\u53d6\u5f15\u3002\u30ec\u30dd\u306a\u3069\u306b\u3088\u308b\u30ec\u30d0\u30ec\u30c3\u30b8\u3092\u4f34\u3046\u3053\u3068\u304c\u591a\u3044\u3002<\/div>\n<\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Barbell Portfolio<\/div>\n<div class=\"ja\">\u30d0\u30fc\u30d9\u30eb\u30fb\u30dd\u30fc\u30c8\u30d5\u30a9\u30ea\u30aa<\/div>\n<div class=\"df\">\u77ed\u671f\u50b5\u3068\u9577\u671f\u50b5\u306b\u6295\u8cc7\u3092\u96c6\u4e2d\u3055\u305b\u305f\u30dd\u30fc\u30c8\u30d5\u30a9\u30ea\u30aa\u3002\u540c\u3058\u30c7\u30e5\u30ec\u30fc\u30b7\u30e7\u30f3\u306e\u30d6\u30ec\u30c3\u30c8\uff08\u4e2d\u671f\u50b5\u4e2d\u5fc3\uff09\u3068\u6bd4\u3079\u3066\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u306e\u5206\u6563\u304c\u5927\u304d\u304f\u3001\u30b3\u30f3\u30d9\u30af\u30b7\u30c6\u30a3\u304c\u5927\u304d\u3044\u3002<\/div>\n<\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Steepener<\/div>\n<div class=\"ja\">\u30b9\u30c6\u30a3\u30fc\u30d7\u30ca\u30fc<\/div>\n<div class=\"df\">\u77ed\u671f\u50b5\u3092\u8cb7\u3044\u9577\u671f\u50b5\u3092\u58f2\u308b\u306a\u3069\u3001\u9577\u77ed\u5229\u56de\u308a\u5dee\uff08\u30a4\u30fc\u30eb\u30c9\u30ab\u30fc\u30d6\u306e\u50be\u304d\uff09\u306e\u62e1\u5927\u304b\u3089\u5229\u76ca\u3092\u5f97\u308b\u30dd\u30b8\u30b7\u30e7\u30f3\u3002\u9006\u306b\u50be\u304d\u306e\u7e2e\u5c0f\u304b\u3089\u5229\u76ca\u3092\u5f97\u308b\u306e\u304c\u30d5\u30e9\u30c3\u30c8\u30ca\u30fc\u3002<\/div>\n<\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Butterfly Spread<\/div>\n<div class=\"ja\">\u30d0\u30bf\u30d5\u30e9\u30a4\u30fb\u30b9\u30d7\u30ec\u30c3\u30c9<\/div>\n<div class=\"df\">\u4e2d\u671f\u306e\u5229\u56de\u308a\u306e2\u500d\u304b\u3089\u77ed\u671f\u3068\u9577\u671f\u306e\u5229\u56de\u308a\u3092\u5dee\u3057\u5f15\u3044\u305f\u5024\u3067\u3001\u30a4\u30fc\u30eb\u30c9\u30ab\u30fc\u30d6\u306e\u66f2\u7387\u3092\u8868\u3059\u3002\u30d6\u30ec\u30c3\u30c8\u3068\u30d0\u30fc\u30d9\u30eb\u3092\u7d44\u307f\u5408\u308f\u305b\u3001\u66f2\u7387\u306e\u5909\u5316\u306b\u8ced\u3051\u308b\u53d6\u5f15\u3082\u6307\u3059\u3002<\/div>\n<\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Key Rate Duration<\/div>\n<div class=\"ja\">\u30ad\u30fc\u30fb\u30ec\u30fc\u30c8\u30fb\u30c7\u30e5\u30ec\u30fc\u30b7\u30e7\u30f3<\/div>\n<div class=\"df\">\u30a4\u30fc\u30eb\u30c9\u30ab\u30fc\u30d6\u4e0a\u306e\u7279\u5b9a\u306e\u5e74\u9650\u306e\u5229\u56de\u308a\u3060\u3051\u304c\u5909\u5316\u3057\u305f\u3068\u304d\u306e\u4fa1\u683c\u611f\u5fdc\u5ea6\u3002\u5168\u5e74\u9650\u306e\u5408\u8a08\u306f\u5b9f\u52b9\u30c7\u30e5\u30ec\u30fc\u30b7\u30e7\u30f3\u306b\u7b49\u3057\u304f\u3001\u30ab\u30fc\u30d6\u306e\u5f62\u72b6\u5909\u5316\u3078\u306e\u611f\u5fdc\u5ea6\u306e\u628a\u63e1\u306b\u7528\u3044\u308b\u3002<\/div>\n<\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Covered Interest Rate Parity<\/div>\n<div class=\"ja\">\u30ab\u30d0\u30fc\u4ed8\u304d\u91d1\u5229\u5e73\u4fa1<\/div>\n<div class=\"df\">\u70ba\u66ff\u4e88\u7d04\u3067\u70ba\u66ff\u30ea\u30b9\u30af\u3092\u5b8c\u5168\u306b\u30d8\u30c3\u30b8\u3057\u305f\u5916\u8ca8\u6295\u8cc7\u306e\u30ea\u30bf\u30fc\u30f3\u304c\u3001\u81ea\u56fd\u901a\u8ca8\u3067\u306e\u6295\u8cc7\u30ea\u30bf\u30fc\u30f3\u3068\u7b49\u3057\u304f\u306a\u308b\u3068\u3044\u3046\u95a2\u4fc2\u3002\u5148\u6e21\u30ec\u30fc\u30c8\u306f\u4e8c\u901a\u8ca8\u306e\u91d1\u5229\u5dee\u3067\u6c7a\u307e\u308b\u3002<\/div>\n<\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Cross-Currency Swap<\/div>\n<div class=\"ja\">\u30af\u30ed\u30b9\u30fb\u30ab\u30ec\u30f3\u30b7\u30fc\u30fb\u30b9\u30ef\u30c3\u30d7<\/div>\n<div class=\"df\">\u7570\u306a\u308b\u901a\u8ca8\u306e\u5143\u672c\u3068\u91d1\u5229\u3092\u4ea4\u63db\u3059\u308b\u5951\u7d04\u3002\u5916\u8ca8\u5efa\u50b5\u5238\u306e\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u3092\u3001\u81ea\u56fd\u901a\u8ca8\u5efa\u3066\u306e\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u306b\u5909\u63db\u3059\u308b\u624b\u6bb5\u3068\u3057\u3066\u4f7f\u3046\u3002<\/div>\n<\/div>\n<h3 id=\"l3-pmp-g-lm6\">LM6 Fixed-Income Active Management: Credit Strategies\uff08\u50b5\u5238\u30a2\u30af\u30c6\u30a3\u30d6\u904b\u7528\uff1a\u30af\u30ec\u30b8\u30c3\u30c8\u6226\u7565\uff09<\/h3>\n<div class=\"cfagl-lm\">\u3053\u306e\u5358\u5143\u306e\u8981\u70b9\u89e3\u8aac\uff1a<a href=\"https:\/\/triumphmind.com\/cfa\/2026\/09\/22\/cfa-l3-pmp-lm6\/\">LM6 \u50b5\u5238\u30a2\u30af\u30c6\u30a3\u30d6\u904b\u7528\uff1a\u30af\u30ec\u30b8\u30c3\u30c8\u6226\u7565<\/a><\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Probability of Default (POD)<\/div>\n<div class=\"ja\">\u30c7\u30d5\u30a9\u30eb\u30c8\u78ba\u7387\uff08POD\uff09<\/div>\n<div class=\"df\">\u4e00\u5b9a\u671f\u9593\u5185\u306b\u767a\u884c\u4f53\u304c\u50b5\u52d9\u4e0d\u5c65\u884c\u3068\u306a\u308b\u78ba\u7387\u3002\u30c7\u30d5\u30a9\u30eb\u30c8\u6642\u640d\u5931\u7387\uff08LGD\uff09\u3068\u639b\u3051\u5408\u308f\u305b\u308b\u3068\u3001\u4fe1\u7528\u30ea\u30b9\u30af\u306b\u3088\u308b\u671f\u5f85\u640d\u5931\u306b\u306a\u308b\u3002<\/div>\n<\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Loss Given Default (LGD)<\/div>\n<div class=\"ja\">\u30c7\u30d5\u30a9\u30eb\u30c8\u6642\u640d\u5931\u7387\uff08LGD\uff09<\/div>\n<div class=\"df\">\u30c7\u30d5\u30a9\u30eb\u30c8\u304c\u751f\u3058\u305f\u5834\u5408\u306b\u5931\u308f\u308c\u308b\u50b5\u6a29\u984d\u306e\u5272\u5408\u3067\u30011\u304b\u3089\u56de\u53ce\u7387\u3092\u5dee\u3057\u5f15\u3044\u305f\u5024\u3002\u8fd4\u6e08\u9806\u4f4d\u3084\u62c5\u4fdd\u306e\u6709\u7121\u306b\u3088\u3063\u3066\u6c34\u6e96\u304c\u7570\u306a\u308b\u3002<\/div>\n<\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Spread Duration<\/div>\n<div class=\"ja\">\u30b9\u30d7\u30ec\u30c3\u30c9\u30fb\u30c7\u30e5\u30ec\u30fc\u30b7\u30e7\u30f3<\/div>\n<div class=\"df\">\u4fe1\u7528\u30b9\u30d7\u30ec\u30c3\u30c9\u306e\u5909\u5316\u306b\u5bfe\u3059\u308b\u50b5\u5238\u4fa1\u683c\u306e\u611f\u5fdc\u5ea6\u3002\u30d9\u30f3\u30c1\u30de\u30fc\u30af\u91d1\u5229\u306e\u5909\u5316\u306b\u5bfe\u3059\u308b\u611f\u5fdc\u5ea6\u3067\u3042\u308b\u4fee\u6b63\u30c7\u30e5\u30ec\u30fc\u30b7\u30e7\u30f3\u3068\u306f\u533a\u5225\u3057\u3066\u6271\u3046\u3002<\/div>\n<\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Option-Adjusted Spread (OAS)<\/div>\n<div class=\"ja\">\u30aa\u30d7\u30b7\u30e7\u30f3\u8abf\u6574\u5f8c\u30b9\u30d7\u30ec\u30c3\u30c9\uff08OAS\uff09<\/div>\n<div class=\"df\">\u91d1\u5229\u30e2\u30c7\u30eb\u3092\u7528\u3044\u3066\u7d44\u8fbc\u30aa\u30d7\u30b7\u30e7\u30f3\u306e\u4fa1\u5024\u3092\u9664\u3044\u305f\u30b9\u30d7\u30ec\u30c3\u30c9\u3002\u30aa\u30d7\u30b7\u30e7\u30f3\u4ed8\u304d\u50b5\u5238\u3068\u30aa\u30d7\u30b7\u30e7\u30f3\u306a\u3057\u50b5\u5238\u3092\u540c\u3058\u57fa\u6e96\u3067\u6bd4\u8f03\u3067\u304d\u308b\u304c\u3001\u91d1\u5229\u30dc\u30e9\u30c6\u30a3\u30ea\u30c6\u30a3\u306e\u524d\u63d0\u306b\u4f9d\u5b58\u3059\u308b\u3002<\/div>\n<\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Z-Spread<\/div>\n<div class=\"ja\">Z\u30b9\u30d7\u30ec\u30c3\u30c9<\/div>\n<div class=\"df\">\u56fd\u50b5\u306e\u30bc\u30ed\u30fb\u30ab\u30fc\u30d6\u306e\u5404\u5e74\u9650\u306b\u4e00\u5b9a\u5e45\u3092\u52a0\u3048\u3066\u5272\u308a\u5f15\u3044\u305f\u3068\u304d\u3001\u50b5\u5238\u306e\u5e02\u5834\u4fa1\u683c\u3068\u4e00\u81f4\u3059\u308b\u30b9\u30d7\u30ec\u30c3\u30c9\u3002\u30ab\u30fc\u30d6\u306e\u5f62\u72b6\u3092\u53cd\u6620\u3059\u308b\u304c\u3001\u7d44\u8fbc\u30aa\u30d7\u30b7\u30e7\u30f3\u306f\u8003\u616e\u3057\u306a\u3044\u3002<\/div>\n<\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">G-Spread<\/div>\n<div class=\"ja\">G\u30b9\u30d7\u30ec\u30c3\u30c9<\/div>\n<div class=\"df\">\u793e\u50b5\u306e\u5229\u56de\u308a\u3068\u3001\u540c\u3058\u5e74\u9650\u306e\u56fd\u50b5\u5229\u56de\u308a\uff08\u5fc5\u8981\u306b\u5fdc\u3058\u3066\u88dc\u9593\uff09\u3068\u306e\u5dee\u3002\u7b97\u51fa\u306f\u5bb9\u6613\u3060\u304c\u3001\u30bc\u30ed\u30fb\u30ab\u30fc\u30d6\u306e\u5f62\u72b6\u306f\u53cd\u6620\u3057\u306a\u3044\u3002<\/div>\n<\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Duration Times Spread (DTS)<\/div>\n<div class=\"ja\">\u30c7\u30e5\u30ec\u30fc\u30b7\u30e7\u30f3\u30fb\u30bf\u30a4\u30e0\u30ba\u30fb\u30b9\u30d7\u30ec\u30c3\u30c9\uff08DTS\uff09<\/div>\n<div class=\"df\">\u30b9\u30d7\u30ec\u30c3\u30c9\u30fb\u30c7\u30e5\u30ec\u30fc\u30b7\u30e7\u30f3\u306b\u4fe1\u7528\u30b9\u30d7\u30ec\u30c3\u30c9\u306e\u6c34\u6e96\u3092\u639b\u3051\u305f\u6307\u6a19\u3002\u30b9\u30d7\u30ec\u30c3\u30c9\u304c\u6c34\u6e96\u306b\u6bd4\u4f8b\u3057\u3066\u5909\u5316\u3059\u308b\u3068\u3044\u3046\u8003\u3048\u65b9\u306b\u3082\u3068\u3065\u304d\u3001\u4fe1\u7528\u30ea\u30b9\u30af\u91cf\u3092\u6bd4\u8f03\u3059\u308b\u3002<\/div>\n<\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">CDS Basis<\/div>\n<div class=\"ja\">CDS\u30d9\u30fc\u30b7\u30b9<\/div>\n<div class=\"df\">\u540c\u3058\u767a\u884c\u4f53\u306eCDS\u30b9\u30d7\u30ec\u30c3\u30c9\u3068\u73fe\u7269\u50b5\u306e\u4fe1\u7528\u30b9\u30d7\u30ec\u30c3\u30c9\u306e\u5dee\u3002\u30d9\u30fc\u30b7\u30b9\u53d6\u5f15\u306f\u3001\u73fe\u7269\u50b5\u3068CDS\u3092\u7d44\u307f\u5408\u308f\u305b\u3066\u3053\u306e\u5dee\u306e\u5909\u5316\u304b\u3089\u5229\u76ca\u3092\u72d9\u3046\u3002<\/div>\n<\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Collateralized Loan Obligation (CLO)<\/div>\n<div class=\"ja\">\u30ed\u30fc\u30f3\u62c5\u4fdd\u8a3c\u5238\uff08CLO\uff09<\/div>\n<div class=\"df\">\u30ec\u30d0\u30ec\u30c3\u30b8\u30c9\u30fb\u30ed\u30fc\u30f3\u306e\u30d7\u30fc\u30eb\u3092\u88cf\u4ed8\u3051\u306b\u3001\u8fd4\u6e08\u9806\u4f4d\u306e\u7570\u306a\u308b\u30c8\u30e9\u30f3\u30b7\u30a7\u306b\u5206\u3051\u3066\u767a\u884c\u3059\u308b\u8a3c\u5238\u5316\u5546\u54c1\u3002\u52a3\u5f8c\u30c8\u30e9\u30f3\u30b7\u30a7\u307b\u3069\u4fe1\u7528\u30ea\u30b9\u30af\u3068\u671f\u5f85\u30ea\u30bf\u30fc\u30f3\u304c\u9ad8\u3044\u3002<\/div>\n<\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Covered Bond<\/div>\n<div class=\"ja\">\u30ab\u30d0\u30fc\u30c9\u30fb\u30dc\u30f3\u30c9<\/div>\n<div class=\"df\">\u4e3b\u306b\u91d1\u878d\u6a5f\u95a2\u304c\u767a\u884c\u3059\u308b\u50b5\u5238\u3067\u3001\u767a\u884c\u4f53\u306e\u4fe1\u7528\u306b\u52a0\u3048\u3001\u7279\u5b9a\u306e\u62c5\u4fdd\u30d7\u30fc\u30eb\u3078\u306e\u8acb\u6c42\u6a29\u306b\u3088\u3063\u3066\u4e8c\u91cd\u306b\u4fdd\u8b77\u3055\u308c\u305f\u3082\u306e\u3002<\/div>\n<\/div>\n<h3 id=\"l3-pmp-g-lm7\">LM7 Trade Strategy and Execution\uff08\u58f2\u8cb7\u6226\u7565\u3068\u57f7\u884c\uff09<\/h3>\n<div class=\"cfagl-lm\">\u3053\u306e\u5358\u5143\u306e\u8981\u70b9\u89e3\u8aac\uff1a<a href=\"https:\/\/triumphmind.com\/cfa\/2026\/09\/22\/cfa-l3-pmp-lm7\/\">LM7 \u58f2\u8cb7\u6226\u7565\u3068\u57f7\u884c<\/a><\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Implementation Shortfall (IS)<\/div>\n<div class=\"ja\">\u30a4\u30f3\u30d7\u30ea\u30e1\u30f3\u30c6\u30fc\u30b7\u30e7\u30f3\u30fb\u30b7\u30e7\u30fc\u30c8\u30d5\u30a9\u30fc\u30eb\uff08IS\uff09<\/div>\n<div class=\"df\">\u6c7a\u5b9a\u6642\u70b9\u306e\u4fa1\u683c\u3067\u58f2\u8cb7\u3067\u304d\u305f\u3068\u4eee\u5b9a\u3057\u305f\u30da\u30fc\u30d1\u30fc\u30fb\u30dd\u30fc\u30c8\u30d5\u30a9\u30ea\u30aa\u3068\u3001\u5b9f\u969b\u306e\u30dd\u30fc\u30c8\u30d5\u30a9\u30ea\u30aa\u306e\u30ea\u30bf\u30fc\u30f3\u306e\u5dee\u3002\u9045\u5ef6\u30fb\u57f7\u884c\u30fb\u6a5f\u4f1a\u30b3\u30b9\u30c8\u3068\u624b\u6570\u6599\u306b\u5206\u89e3\u3067\u304d\u308b\u3002<\/div>\n<\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Arrival Price<\/div>\n<div class=\"ja\">\u5230\u7740\u4fa1\u683c\uff08\u30a2\u30e9\u30a4\u30d0\u30eb\u30fb\u30d7\u30e9\u30a4\u30b9\uff09<\/div>\n<div class=\"df\">\u58f2\u8cb7\u6ce8\u6587\u3092\u5e02\u5834\u306b\u51fa\u3057\u305f\u6642\u70b9\u306e\u4fa1\u683c\u3002\u77ed\u671f\u30a2\u30eb\u30d5\u30a1\u3092\u91cd\u8996\u3057\u3066\u6025\u3044\u3067\u57f7\u884c\u3059\u308b\u5834\u5408\u306a\u3069\u306b\u3001\u57f7\u884c\u306e\u8a55\u4fa1\u57fa\u6e96\u3068\u3057\u3066\u7528\u3044\u308b\u3002<\/div>\n<\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Volume-Weighted Average Price (VWAP)<\/div>\n<div class=\"ja\">\u51fa\u6765\u9ad8\u52a0\u91cd\u5e73\u5747\u4fa1\u683c\uff08VWAP\uff09<\/div>\n<div class=\"df\">\u4e00\u5b9a\u6642\u9593\u5185\u306e\u7d04\u5b9a\u4fa1\u683c\u3092\u51fa\u6765\u9ad8\u3067\u52a0\u91cd\u5e73\u5747\u3057\u305f\u4fa1\u683c\u3002\u5e02\u5834\u306e\u51fa\u6765\u9ad8\u306e\u63a8\u79fb\u306b\u6cbf\u3063\u3066\u57f7\u884c\u3057\u305f\u3044\u5834\u5408\u306e\u57f7\u884c\u30d9\u30f3\u30c1\u30de\u30fc\u30af\u3068\u306a\u308b\u3002<\/div>\n<\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Time-Weighted Average Price (TWAP)<\/div>\n<div class=\"ja\">\u6642\u9593\u52a0\u91cd\u5e73\u5747\u4fa1\u683c\uff08TWAP\uff09<\/div>\n<div class=\"df\">\u4e00\u5b9a\u6642\u9593\u5185\u306e\u4fa1\u683c\u3092\u6642\u9593\u3067\u5747\u7b49\u306b\u5e73\u5747\u3057\u305f\u4fa1\u683c\u3002\u51fa\u6765\u9ad8\u304c\u4e0d\u898f\u5247\u306a\u9298\u67c4\u306a\u3069\u3067\u3001\u6642\u9593\u306b\u6cbf\u3063\u3066\u5747\u7b49\u306b\u57f7\u884c\u3059\u308b\u5834\u5408\u306e\u57f7\u884c\u30d9\u30f3\u30c1\u30de\u30fc\u30af\u3068\u306a\u308b\u3002<\/div>\n<\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Market Impact<\/div>\n<div class=\"ja\">\u30de\u30fc\u30b1\u30c3\u30c8\u30fb\u30a4\u30f3\u30d1\u30af\u30c8<\/div>\n<div class=\"df\">\u81ea\u3089\u306e\u6ce8\u6587\u306e\u58f2\u8cb7\u5727\u529b\u306b\u3088\u3063\u3066\u4fa1\u683c\u304c\u4e0d\u5229\u306a\u65b9\u5411\u306b\u52d5\u304f\u3053\u3068\u3067\u751f\u3058\u308b\u30b3\u30b9\u30c8\u3002\u6ce8\u6587\u304c\u5927\u304d\u304f\u3001\u9298\u67c4\u306e\u6d41\u52d5\u6027\u304c\u4f4e\u3044\u307b\u3069\u5927\u304d\u304f\u306a\u308b\u3002<\/div>\n<\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Execution Risk<\/div>\n<div class=\"ja\">\u57f7\u884c\u30ea\u30b9\u30af<\/div>\n<div class=\"df\">\u57f7\u884c\u306b\u6642\u9593\u3092\u304b\u3051\u308b\u9593\u306b\u3001\u30dc\u30e9\u30c6\u30a3\u30ea\u30c6\u30a3\u3084\u65b0\u305f\u306a\u60c5\u5831\u306b\u3088\u3063\u3066\u4fa1\u683c\u304c\u4e0d\u5229\u306b\u52d5\u304f\u30ea\u30b9\u30af\u3002\u6642\u9593\u3092\u304b\u3051\u3066\u6291\u3048\u308b\u30de\u30fc\u30b1\u30c3\u30c8\u30fb\u30a4\u30f3\u30d1\u30af\u30c8\u3068\u306f\u30c8\u30ec\u30fc\u30c9\u30aa\u30d5\u306e\u95a2\u4fc2\u306b\u3042\u308b\u3002<\/div>\n<\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Alpha Decay<\/div>\n<div class=\"ja\">\u30a2\u30eb\u30d5\u30a1\u30fb\u30c7\u30a3\u30b1\u30a4\uff08\u30a2\u30eb\u30d5\u30a1\u306e\u6e1b\u8870\uff09<\/div>\n<div class=\"df\">\u6295\u8cc7\u5224\u65ad\u306b\u3082\u3068\u3065\u304f\u671f\u5f85\u8d85\u904e\u30ea\u30bf\u30fc\u30f3\u304c\u3001\u6642\u9593\u306e\u7d4c\u904e\u3068\u3068\u3082\u306b\u5931\u308f\u308c\u3066\u3044\u304f\u73fe\u8c61\u3002\u6e1b\u8870\u304c\u901f\u3044\u307b\u3069\u3001\u58f2\u8cb7\u306e\u7dca\u6025\u6027\u304c\u9ad8\u304f\u306a\u308b\u3002<\/div>\n<\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Delay Cost<\/div>\n<div class=\"ja\">\u9045\u5ef6\u30b3\u30b9\u30c8<\/div>\n<div class=\"df\">\u6295\u8cc7\u5224\u65ad\u306e\u6642\u70b9\u304b\u3089\u6ce8\u6587\u3092\u5e02\u5834\u306b\u51fa\u3059\u307e\u3067\u306e\u9593\u306e\u4fa1\u683c\u5909\u5316\u306b\u3088\u3063\u3066\u751f\u3058\u308b\u30b3\u30b9\u30c8\u3002\u30a4\u30f3\u30d7\u30ea\u30e1\u30f3\u30c6\u30fc\u30b7\u30e7\u30f3\u30fb\u30b7\u30e7\u30fc\u30c8\u30d5\u30a9\u30fc\u30eb\u306e\u69cb\u6210\u8981\u7d20\u306e\u4e00\u3064\u3002<\/div>\n<\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Opportunity Cost<\/div>\n<div class=\"ja\">\u6a5f\u4f1a\u30b3\u30b9\u30c8<\/div>\n<div class=\"df\">\u6ce8\u6587\u306e\u3046\u3061\u7d04\u5b9a\u3067\u304d\u306a\u304b\u3063\u305f\u90e8\u5206\u306b\u3064\u3044\u3066\u3001\u305d\u306e\u5f8c\u306e\u4fa1\u683c\u5909\u5316\u306b\u3088\u3063\u3066\u5931\u308f\u308c\u305f\u5229\u76ca\u3002\u30a4\u30f3\u30d7\u30ea\u30e1\u30f3\u30c6\u30fc\u30b7\u30e7\u30f3\u30fb\u30b7\u30e7\u30fc\u30c8\u30d5\u30a9\u30fc\u30eb\u306e\u69cb\u6210\u8981\u7d20\u306e\u4e00\u3064\u3002<\/div>\n<\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Best Execution<\/div>\n<div class=\"ja\">\u6700\u826f\u57f7\u884c<\/div>\n<div class=\"df\">\u4fa1\u683c\u3060\u3051\u3067\u306a\u304f\u3001\u30b3\u30b9\u30c8\u30fb\u901f\u5ea6\u30fb\u7d04\u5b9a\u306e\u78ba\u5b9f\u6027\u306a\u3069\u3082\u8003\u616e\u3057\u3001\u9867\u5ba2\u306b\u3068\u3063\u3066\u6700\u3082\u6709\u5229\u306a\u6761\u4ef6\u3067\u6ce8\u6587\u3092\u57f7\u884c\u3059\u308b\u3053\u3068\u3002\u904b\u7528\u4f1a\u793e\u306e\u53d7\u8a17\u8005\u8cac\u4efb\u306e\u4e00\u90e8\u3092\u306a\u3059\u3002<\/div>\n<\/div>\n<h3 id=\"l3-pmp-g-lm8\">LM8 Case Study in Portfolio Management: Institutional (Endowment)\uff08\u30b1\u30fc\u30b9\u30b9\u30bf\u30c7\u30a3\uff1a\u6a5f\u95a2\u6295\u8cc7\u5bb6\uff08\u30a8\u30f3\u30c0\u30a6\u30e1\u30f3\u30c8\uff09\uff09<\/h3>\n<div class=\"cfagl-lm\">\u3053\u306e\u5358\u5143\u306e\u8981\u70b9\u89e3\u8aac\uff1a<a href=\"https:\/\/triumphmind.com\/cfa\/2026\/09\/22\/cfa-l3-pmp-lm8\/\">LM8 \u30b1\u30fc\u30b9\u30b9\u30bf\u30c7\u30a3\uff1a\u6a5f\u95a2\u6295\u8cc7\u5bb6\uff08\u30a8\u30f3\u30c0\u30a6\u30e1\u30f3\u30c8\uff09<\/a><\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Illiquidity Premium<\/div>\n<div class=\"ja\">\u975e\u6d41\u52d5\u6027\u30d7\u30ec\u30df\u30a2\u30e0<\/div>\n<div class=\"df\">\u6d41\u52d5\u6027\u306e\u4f4e\u3044\u8cc7\u7523\u3092\u4fdd\u6709\u3059\u308b\u3053\u3068\u306b\u5bfe\u3057\u3066\u6295\u8cc7\u5bb6\u304c\u5f97\u308b\u8ffd\u52a0\u7684\u306a\u671f\u5f85\u30ea\u30bf\u30fc\u30f3\u3002\u9577\u671f\u3067\u5b89\u5b9a\u3057\u305f\u8cc7\u91d1\u3092\u6301\u3064\u6295\u8cc7\u5bb6\u307b\u3069\u7372\u5f97\u3057\u3084\u3059\u3044\u3002<\/div>\n<\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Liquidity Tiers<\/div>\n<div class=\"ja\">\u6d41\u52d5\u6027\u306e\u968e\u5c64\uff08\u30ea\u30af\u30a4\u30c7\u30a3\u30c6\u30a3\u30fb\u30c6\u30a3\u30a2\uff09<\/div>\n<div class=\"df\">\u4fdd\u6709\u8cc7\u7523\u3092\u3001\u73fe\u91d1\u5316\u306b\u8981\u3059\u308b\u671f\u9593\u3084\u5bb9\u6613\u3055\u3067\u533a\u5206\u3057\u305f\u3082\u306e\u3002\u6d41\u52d5\u6027\u30cb\u30fc\u30ba\u3068\u7167\u3089\u3057\u5408\u308f\u305b\u3066\u3001\u30dd\u30fc\u30c8\u30d5\u30a9\u30ea\u30aa\u306e\u6d41\u52d5\u6027\u3092\u7ba1\u7406\u3059\u308b\u306e\u306b\u4f7f\u3046\u3002<\/div>\n<\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Commitment Pacing<\/div>\n<div class=\"ja\">\u30b3\u30df\u30c3\u30c8\u30e1\u30f3\u30c8\u30fb\u30da\u30fc\u30b7\u30f3\u30b0<\/div>\n<div class=\"df\">\u5c06\u6765\u306e\u30ad\u30e3\u30d4\u30bf\u30eb\u30fb\u30b3\u30fc\u30eb\u3001\u5206\u914d\u3001NAV\u306e\u63a8\u79fb\u3092\u4e88\u6e2c\u3057\u3001\u76ee\u6a19\u914d\u5206\u3092\u9054\u6210\u30fb\u7dad\u6301\u3059\u308b\u305f\u3081\u306e\u65b0\u898f\u30b3\u30df\u30c3\u30c8\u30e1\u30f3\u30c8\u984d\u3092\u8a08\u753b\u3059\u308b\u624b\u6cd5\u3002<\/div>\n<\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Capital Call<\/div>\n<div class=\"ja\">\u30ad\u30e3\u30d4\u30bf\u30eb\u30fb\u30b3\u30fc\u30eb<\/div>\n<div class=\"df\">\u30d7\u30e9\u30a4\u30d9\u30fc\u30c8\u30fb\u30d5\u30a1\u30f3\u30c9\u306eGP\u304c\u3001\u6295\u8cc7\u5bb6\u306e\u672a\u6255\u8fbc\u30b3\u30df\u30c3\u30c8\u30e1\u30f3\u30c8\u304b\u3089\u8cc7\u91d1\u306e\u6255\u8fbc\u307f\u3092\u6c42\u3081\u308b\u3053\u3068\u3002\u9577\u671f\u6295\u8cc7\u5bb6\u306b\u3068\u3063\u3066\u4e3b\u8981\u306a\u6d41\u52d5\u6027\u30cb\u30fc\u30ba\u306e\u4e00\u3064\u3068\u306a\u308b\u3002<\/div>\n<\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Denominator Effect<\/div>\n<div class=\"ja\">\u30c7\u30ce\u30df\u30cd\u30fc\u30bf\u30fc\u52b9\u679c<\/div>\n<div class=\"df\">\u4e0a\u5834\u8cc7\u7523\u306e\u4fa1\u683c\u4e0b\u843d\u3067\u30dd\u30fc\u30c8\u30d5\u30a9\u30ea\u30aa\u5168\u4f53\u306e\u8a55\u4fa1\u984d\u304c\u6e1b\u5c11\u3057\u3001\u975e\u6d41\u52d5\u6027\u8cc7\u7523\u306e\u6bd4\u7387\u304c\u76ee\u6a19\u3092\u4e0a\u56de\u3063\u3066\u3057\u307e\u3046\u73fe\u8c61\u3002<\/div>\n<\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Tactical Asset Allocation (TAA)<\/div>\n<div class=\"ja\">\u6226\u8853\u7684\u8cc7\u7523\u914d\u5206\uff08TAA\uff09<\/div>\n<div class=\"df\">\u77ed\u4e2d\u671f\u306e\u5e02\u5834\u898b\u901a\u3057\u306b\u3082\u3068\u3065\u304d\u3001\u653f\u7b56\u8cc7\u7523\u914d\u5206\u304b\u3089\u4e00\u6642\u7684\u306b\u914d\u5206\u3092\u4e56\u96e2\u3055\u305b\u308b\u904b\u7528\u3002\u30c7\u30ea\u30d0\u30c6\u30a3\u30d6\u3092\u7528\u3044\u3066\u6a5f\u52d5\u7684\u306b\u5b9f\u884c\u3059\u308b\u3053\u3068\u304c\u591a\u3044\u3002<\/div>\n<\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Derivatives Overlay<\/div>\n<div class=\"ja\">\u30c7\u30ea\u30d0\u30c6\u30a3\u30d6\u30fb\u30aa\u30fc\u30d0\u30fc\u30ec\u30a4<\/div>\n<div class=\"df\">\u73fe\u7269\u306e\u4fdd\u6709\u3092\u5909\u3048\u305a\u306b\u5148\u7269\u3084\u30b9\u30ef\u30c3\u30d7\u3092\u91cd\u306d\u3066\u3001\u8cc7\u7523\u30af\u30e9\u30b9\u3084\u30ea\u30b9\u30af\u306e\u30a8\u30af\u30b9\u30dd\u30fc\u30b8\u30e3\u30fc\u3092\u8abf\u6574\u3059\u308b\u624b\u6cd5\u3002\u6226\u8853\u7684\u8cc7\u7523\u914d\u5206\u3084\u30ea\u30d0\u30e9\u30f3\u30b9\u306b\u7528\u3044\u308b\u3002<\/div>\n<\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Basis Risk<\/div>\n<div class=\"ja\">\u30d9\u30fc\u30b7\u30b9\u30fb\u30ea\u30b9\u30af<\/div>\n<div class=\"df\">\u30c7\u30ea\u30d0\u30c6\u30a3\u30d6\u306e\u539f\u8cc7\u7523\u3068\u5b9f\u969b\u306b\u4fdd\u6709\u3059\u308b\u8cc7\u7523\u306e\u30ea\u30bf\u30fc\u30f3\u304c\u4e00\u81f4\u3057\u306a\u3044\u305f\u3081\u3001\u30d8\u30c3\u30b8\u3084\u30a8\u30af\u30b9\u30dd\u30fc\u30b8\u30e3\u30fc\u8abf\u6574\u306b\u8aa4\u5dee\u304c\u751f\u3058\u308b\u30ea\u30b9\u30af\u3002<\/div>\n<\/div>\n<div class=\"cfagl-t\">\n<div class=\"en\">Divestment<\/div>\n<div class=\"ja\">\u30c0\u30a4\u30d9\u30b9\u30c8\u30e1\u30f3\u30c8\uff08\u6295\u8cc7\u64a4\u9000\uff09<\/div>\n<div class=\"df\">ESG\u3084\u793e\u4f1a\u7684\u306a\u7406\u7531\u304b\u3089\u3001\u7279\u5b9a\u306e\u4f01\u696d\u3084\u696d\u7a2e\u306e\u4fdd\u6709\u3092\u58f2\u5374\u3057\u3066\u6295\u8cc7\u5bfe\u8c61\u304b\u3089\u5916\u3059\u3053\u3068\u3002\u5206\u6563\u306e\u4f4e\u4e0b\u3084\u30c8\u30e9\u30c3\u30ad\u30f3\u30b0\u30fb\u30a8\u30e9\u30fc\u306e\u5897\u52a0\u3092\u4f34\u3044\u3046\u308b\u3002<\/div>\n<\/div>\n<h2>\u3042\u308f\u305b\u3066\u4f7f\u3044\u305f\u3044\u30da\u30fc\u30b8<\/h2>\n<ul>\n<li><a href=\"https:\/\/triumphmind.com\/cfa\/2026\/09\/24\/cfa-l3-pmp-formulas\/\">CFA\u00ae\ufe0e Level 3 PM Pathway \u516c\u5f0f\u96c6\uff08\u8a18\u53f7\u306e\u610f\u5473\u3068\u4f7f\u3044\u3069\u3053\u308d\uff09<\/a><\/li>\n<li><a href=\"https:\/\/triumphmind.com\/cfa\/cfa-level3-glossary\/\">CFA\u00ae\ufe0e Level 3 \u7528\u8a9e\u96c6\uff08\u5168\u79d1\u76ee\u306e\u4e00\u89a7\uff09<\/a><\/li>\n<li><a href=\"https:\/\/triumphmind.com\/cfa\/cfa-curriculum\/#l3-pmp\">CFA\u00ae\ufe0e \u5b66\u7fd2\u5185\u5bb9\u306e\u76ee\u6b21\uff08Level 3 Portfolio Management Pathway\uff09<\/a><\/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\u3001\u7528\u8a9e\u3084\u516c\u5f0f\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<li><a href=\"https:\/\/triumphmind.com\/cfa\/gokuhi\/\" target=\"_blank\" rel=\"noopener\">Level 3 Leveraged Support Course\uff08\u7528\u8a9e\u96c6\u30fb\u516c\u5f0f\u96c6\u306e\u6574\u7406\u8cc7\u6599\u3064\u304d\uff09\u3092\u898b\u308b<\/a><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>CFA\u00ae\ufe0e Level 3 Portfolio Management Pathway\uff08\u30dd\u30fc\u30c8\u30d5\u30a9\u30ea\u30aa\u30fb\u30de\u30cd\u30b8\u30e1\u30f3\u30c8 Pathway\uff09\u306e\u91cd\u8981\u7528\u8a9e77\u8a9e\u3092\u3001\u6700\u65b0\u7248\u30ab\u30ea\u30ad\u30e5\u30e9\u30e0\u306e\u5358\u5143\uff08LM\uff09\u5225\u306b\u3001\u82f1\u8a9e\u30fb\u65e5\u672c\u8a9e\u8a33\u30fb\u610f\u5473\u306e3\u70b9\u30bb\u30c3\u30c8\u3067\u6574\u7406\u3057\u305f\u7528\u8a9e\u96c6\u3067\u3059\u3002<\/p>\n","protected":false},"author":1,"featured_media":11588,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jin_ogp_image_url":"","_jin_last_featured_id":0,"footnotes":""},"categories":[101],"tags":[],"class_list":["post-11453","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-glossary"],"_links":{"self":[{"href":"https:\/\/triumphmind.com\/cfa\/wp-json\/wp\/v2\/posts\/11453","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=11453"}],"version-history":[{"count":2,"href":"https:\/\/triumphmind.com\/cfa\/wp-json\/wp\/v2\/posts\/11453\/revisions"}],"predecessor-version":[{"id":11574,"href":"https:\/\/triumphmind.com\/cfa\/wp-json\/wp\/v2\/posts\/11453\/revisions\/11574"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/triumphmind.com\/cfa\/wp-json\/wp\/v2\/media\/11588"}],"wp:attachment":[{"href":"https:\/\/triumphmind.com\/cfa\/wp-json\/wp\/v2\/media?parent=11453"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/triumphmind.com\/cfa\/wp-json\/wp\/v2\/categories?post=11453"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/triumphmind.com\/cfa\/wp-json\/wp\/v2\/tags?post=11453"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}