Progressive learning sequence
From foundations to integrated investment decisions.
Each module has four independent learning objectives, one related Matchpoint service and a 20-question assessment spanning Beginner, Intermediate, Advanced and Expert work.
01Foundations
Professional Ethics, Conflicts and Decision Integrity
Apply professional judgment to duties, conflicts, confidential information, fair dealing and decision integrity.
- Identify material conflicts
- Protect confidential information
- Evaluate fair client treatment
- Document defensible decisions
02Foundations
Investment Mathematics and Cash-Flow Tools
Use discounting, compounding, return measures, NPV and IRR in investment decisions.
- Calculate present and future value
- Value common cash-flow patterns
- Compare return measures
- Diagnose IRR and timing limitations
03Foundations
Statistics, Probability and Sampling
Interpret distributions, probability, samples, estimates and hypothesis tests used in financial analysis.
- Summarize financial data
- Apply probability rules
- Evaluate samples and estimates
- Interpret hypothesis tests
04Foundations
Regression, Data Analysis and Model Risk
Use regression, time-series evidence, simulation and data controls without overstating model conclusions.
- Interpret regression output
- Recognize time-series risks
- Evaluate model fit
- Control data and model risk
05Foundations
Microeconomics and Competitive Positioning
Connect supply, demand, elasticity, costs and market structure to company strategy and valuation.
- Analyze supply and demand
- Interpret elasticity
- Compare market structures
- Link economics to company performance
06Foundations
Macroeconomics, Policy, FX and Capital Flows
Assess business cycles, inflation, policy, currencies, trade and international capital flows.
- Interpret business-cycle evidence
- Evaluate monetary and fiscal policy
- Analyze currency movements
- Connect capital flows to markets
07Financial Analysis
Financial Reporting Foundations
Trace transactions through the income statement, balance sheet and cash-flow statement.
- Link the three statements
- Distinguish accruals from cash
- Interpret revenue and expenses
- Classify cash flows
08Financial Analysis
Financial Statement Analysis and Earnings Quality
Evaluate profitability, liquidity, cash conversion, accounting choices and reporting quality.
- Calculate analytical ratios
- Assess working capital
- Evaluate earnings quality
- Identify accounting adjustments
09Financial Analysis
Advanced Financial Statement Analysis
Analyze business combinations, investments, pensions, foreign operations and forecast adjustments.
- Analyze consolidation effects
- Evaluate intercorporate investments
- Interpret pension exposure
- Normalize multinational results
10Financial Analysis
Corporate Governance and Stakeholder Analysis
Evaluate ownership, boards, agency risk, stakeholder interests and capital-allocation accountability.
- Assess governance structures
- Identify agency conflicts
- Evaluate stakeholder trade-offs
- Review decision rights
11Financial Analysis
Capital Budgeting, Cost of Capital and Corporate Finance
Connect investment decisions, funding costs, leverage, payout and working capital to value.
- Evaluate capital projects
- Estimate funding costs
- Analyze leverage
- Assess payout and liquidity choices
12Asset Classes
Equity Markets, Securities and Industry Analysis
Understand equity instruments, market organization, indices, industries and company positioning.
- Classify equity securities
- Interpret market structure
- Evaluate indices
- Analyze industries and issuers
13Asset Classes
Equity Valuation
Apply dividend, cash-flow, residual-income and market-multiple valuation methods.
- Select an equity valuation model
- Estimate intrinsic value
- Interpret market multiples
- Value private-company interests
14Asset Classes
Fixed Income Markets and Bond Mathematics
Analyze bond structures, price-yield relationships, term structure, duration and convexity.
- Classify debt securities
- Calculate bond value and yield
- Interpret term structure
- Measure interest-rate risk
15Asset Classes
Credit Analysis, Securitisation and Structured Finance
Evaluate default risk, recovery, covenants, credit ratios and structured-finance waterfalls.
- Assess borrower credit
- Estimate recovery
- Interpret covenants
- Analyze securitised structures
16Asset Classes
Derivative Instruments and Payoffs
Map forwards, futures, swaps and options to their contractual payoffs and uses.
- Distinguish derivative instruments
- Calculate basic payoffs
- Identify counterparty exposure
- Match instruments to objectives
17Asset Classes
Derivative Valuation, Hedging and Risk Management
Use arbitrage relationships, option sensitivities and hedge design in risk decisions.
- Value forward commitments
- Interpret option sensitivities
- Design hedges
- Evaluate basis and model risk
18Asset Classes
Private Equity, Venture Capital and Private Credit
Analyze private-fund structures, underwriting, value creation, returns and direct lending.
- Interpret fund economics
- Evaluate private-company underwriting
- Compare IRR and MOIC
- Assess private-credit structures
19Asset Classes
Real Estate, Infrastructure, Commodities and Hedge Funds
Compare real assets, commodity exposures and flexible alternative-investment strategies.
- Analyze property cash flows
- Assess infrastructure bankability
- Interpret commodity exposure
- Compare hedge-fund strategies
20Portfolio
Portfolio Risk, Return and Asset Pricing
Use diversification, covariance, efficient portfolios and asset-pricing models to evaluate risk.
- Calculate portfolio return
- Interpret covariance
- Evaluate diversification
- Apply asset-pricing relationships
21Portfolio
Portfolio Construction, Allocation and Performance
Translate investor objectives and constraints into allocation, rebalancing and performance evaluation.
- Define investor constraints
- Select an allocation
- Apply rebalancing
- Evaluate performance and attribution
22Applied Finance
Business Valuation and Financial Modelling
Build and challenge DCF, comparable-company, precedent, SOTP and three-statement analyses.
- Construct a valuation bridge
- Build forecast logic
- Evaluate comparable evidence
- Audit sensitivities and model integrity
23Applied Finance
Investment Banking, Capital Raising and Markets
Follow mandates, materials, investor targeting, syndication, diligence and capital-markets execution.
- Sequence a capital raise
- Select financing routes
- Evaluate investor fit
- Manage execution evidence
24Applied Finance
M&A, Project Finance and Restructuring
Integrate buy-side, sell-side, acquisition finance, project bankability and restructuring decisions.
- Evaluate transaction processes
- Assess project bankability
- Analyze financing certainty
- Design restructuring options
25Applied Finance
Integrated Investment Committee Case Analysis
Synthesize ethics, financial analysis, valuation, credit, capital structure and portfolio consequences.
- Separate fact from assumption
- Integrate valuation and risk
- Recommend terms and mitigants
- Communicate a decision case
