MODULE 1: PERSONAL FINANCIAL PLANNING CHAPTER 1
PAGEForewordAcknowledgementAbout NISM CertificationsAbout the Level 1 Certification Examination for Investment AdviserI-3I-5I-7I-9Understand the concept of Financial PlanningUnderstand the need for financial planningScope of financial planningConcept of asset, liabilities and networthFinancial Planning processFinancial advisory and execution358131516Time Value of MoneyCalculate the following1921
CONTENTSPAGECHAPTER 3EVALUATING THE FINANCIAL POSITION OF CLIENTS3.13.23.33.43.53.63.73.83.9Importance of cash flow management in personal financePreparing Household BudgetCash inflows and outflowsBudgeting and forecastingMonitoring budgets and provision for savingsCreating a personal Balance Sheet and networthCreating a budget and savings planContingency PlanningEvaluation of financial position of clients333436384042454647CHAPTER 4DEBT MANAGEMENT AND 144.15I-12The purpose or need of debtRole and impact of debt in cash flow managementLeverage and Debt CounsellingCalculate the debt servicing requirementsResponsible BorrowingSecured and Unsecured loansTerms related to loansTypes of borrowingUnderstand loan calculationsLoan restructuringRepayment schedules with varying interest ratesCriteria to evaluate loansOpting for change in EMI or change in tenure for interest rate changesInvest the money or pay off outstanding loanStrategies to reduce debt faster575861646666677175767879808182
CONTENTSPAGEMODULE 2 : INDIAN FINANCIAL MARKETSCHAPTER 5INTRODUCTION TO THE INDIANFINANCIAL MARKETS5.15.25.35.45.5The Indian EconomyThe Indian Financial MarketsRegulators of Financial MarketsStructure of Financial Markets in IndiaRole of Participants in the Financial Markets89909299111CHAPTER 6SECURITIES MARKET SEGMENTS6.16.26.3Nature and Definition of Primary MarketsRole and Function of the Secondary MarketCorporate Actions117135148MODULE 3: INVESTMENT PRODUCTSCHAPTER 7INTRODUCTION TO INVESTMENT7.17.27.37.47.57.67.7Types of investmentEquityFixed IncomeCommoditiesReal EstatesStructured productsDistressed Securities157158158161161162162I-13
CONTENTSPAGE7.87.9Other investment opportunitiesChannels for making investments162163CHAPTER 8INVESTING IN STOCKS8.18.28.38.48.58.68.78.8Equity as an investmentDiversification of risk through equity instruments - Cross sectional versustime seriesRisks of equity investmentsOverview of Equity MarketEquity research and stock selectionCombining relative valuation and discounted cash flow modelsTechnical AnalysisQualitative evaluation of stocks167168169170172189190194CHAPTER 9INVESTING IN FIXED INCOME SECURITIES9.1Debt market and its need in financing structure of Corporates andGovernment9.2 Bond market ecosystem9.3 Risks associated with fixed income securities9.4 Pricing of Bond9.5 Traditional Yield Measures9.6 Concept of Yield Curve9.7 Concept of Duration9.8 Introduction to Money Market9.9 Introduction to Government Debt Market9.10 Introduction to Corporate Debt Market9.11 Small Saving InstrumentsI-14195198200205214218220221225229232
CONTENTSPAGECHAPTER 10UNDERSTANDING DERIVATIVES10.110.210.310.410.510.610.710.8Basics of DerivativesUnderlying concepts in derivativesTypes of derivative productsStructure of derivative marketsPurpose of DerivativesBenefits, Costs and risks of DerivativesEquity, Currency and Commodity derivativesDerivative markets, products and strategies243244246251252253254256MODULE 4: INVESTMENT THROUGH MANAGEDPORTFOLIOSCHAPTER 11MUTUAL FUNDS11.1 Meaning and features of Mutual Fund11.2 Concepts and Terms Related to Mutual Funds11.3 Features of and differences between Open-ended schemes, Close-endedschemes, Interval schemes and Exchange Traded Funds (ETFs)11.4 Regulatory Framework of Mutual Funds11.5 Mutual Fund Products11.6 Mutual Fund Investment Options11.7 Triggers in Mutual Fund Investment11.8 Process associated with Investment in Mutual Funds11.9 Systematic Transactions11.10 Investment Modes269271274275276289290290294300I-15
CONTENTSPAGECHAPTER 12PORTFOLIO MANAGER12.112.212.312.412.512.612.712.8Overview of portfolio managers in IndiaTypes of portfolio management servicesStructure of PMS in IndiaRegistration requirements of a Portfolio ManagerResponsibilities of a Portfolio ManagerCost, expenses and fees of investing in PMSDirect access facility offered by PMSSEBI requirements on performance disclosure303304306307312313314315CHAPTER 13OVERVIEW OF ALTERNATIVEINVESTMENT FUNDS (AIFs)13.113.213.313.413.513.613.713.8Introduction to Alternative InvestmentsRole of Alternative Investments in Portfolio ManagementEvolution and Growth of AIFs in IndiaTypes of AIFsCategories of AIFs and their comparisonSuitability and Enablers for AIF Products in IndiaCurrent AIF Market StatusSEBI requirements on AIF317320323326328330332333MODULE 5: PORTFOLIO CONSTRUCTION,PERFORMANCE MONITORING AND EVALUATIONCHAPTER 14INTRODUCTION TO MODERN PORTFOLIO THEORY14.1 Framework for constructing portfolios - Modern portfolio theory14.2 Assumptions of the theoryI-16341342
CONTENTSPAGE14.314.414.514.614.714.8Definition of risk averse, risk seeking and risk neutral investorCalculation of expected rate of return for individual securityGraphical presentation of portfolio risk/return of two securitiesThe concept of Efficient FrontierPortfolio Optimization processEstimation issues343344348349351351CHAPTER 15PORTFOLIO CONSTRUCTION .1115.1215.1315.1415.1515.1615.17Importance of Asset Allocation DecisionUnderstanding correlation across asset classes and securitiesSteps in Portfolio Construction ProcessInvestment ObjectivesInvestment ConstraintsExposures limits to different sectors, Entities and Asset ClassesUnique needs and preferencesAssessments of needs and requirements of investorAnalysing the financial position of the investorPsychographic analysis of investorLife cycle analysis of investorForecasting risk and return of various asset classesBenchmarking the client’s portfolioAsset allocation decisionPortfolio Construction PrinciplesStrategic versus Tactical Asset AllocationRebalancing of 7367368369CHAPTER 16PORTFOLIO PERFORMANCEMEASUREMENT AND EVALUATION16.1 Parameters to define performance - Risk and return16.2 Rate of return measures371371I-17
CONTENTSPAGE16.316.416.516.6Risk measuresRisk-adjusted return measuresPerformance Evaluation: Benchmarking and peer group analysisPerformance attribution analysis384388392394MODULE 6: OPERATIONS, REGULATORYENVIRONMENT, COMPLIANCE AND ETHICSCHAPTER 17OPERATIONAL ASPECTS OF .817.917.10Investors and the investing processPAN and KYC ProcessDematerialisation and Re-materialisation of SecuritiesPower of AttorneyAccount Opening Process for Non-ResidentsProcess of Consolidating, reorganising and folio keeping/Maintenance ofInvestmentsChange in Status of Special Investor CategoriesPayment InstrumentsDocumentation for Financial AdviceInvesting in mutual funds through the stock exchange platform401408416420422427434440445446CHAPTER 18KEY REGULATIONS18.1 Securities Contracts (Regulation) Act, (SCRA 1956)18.2 SEBI Act, 199218.3 SEBI Prevention of Fraudulent and Unfair Trade Practices Regulations,200318.4 Securities and Exchange Board of India (Intermediaries) Regulations, 200818.5 SEBI (Prohibition of Insider Trading) Regulations, 201518.6 SEBI (Investment Advisers) Regulations, 2013I-18451452453454455456
CONTENTSPAGE18.7 Prevention of Money-Laundering Act, 200218.8 Key provisions of various other acts, as applicable to investment advisoryprofession18.9 Violation of Regulations by Registered Investment Advisers and theirconsequences - Some Case Studies472476484CHAPTER 19ETHICAL ISSUES19.119.219.319.419.519.619.719.8Ethical issuesImportance of ethical conduct of businessEthical issues for an Investment AdviserEthical DilemmaFiduciary responsibility of Investment AdvisersDo’s and Don’ts for investors issued by SEBILearn about addressing annual audit observationsGlobal Best Practices487488490492494495496496CHAPTER 20GRIEVANCE REDRESS Consumer Protection ActInvestor Grievance Redressal MechanismGrievance Redress SystemGrievance Redress System of an Investment AdviserGrievance Redress System in Capital MarketGrievance Redress System in BankingGrievance Redressal in InsuranceRedress in Pension SectorSecurities Appellate TribunalOther Redressal Fora499500500502502504506508509510I-19
I-16 CONTENTS PAGE CHAPTER 12 PORTFOLIO MANAGER 12.1 Overview of portfolio managers in India 303 12.2 Types of portfolio management services 304 12.3 Structure of PMS in India 306 12.4 Registration requirements of a Portfolio Manager 307 12.5 Responsibilities of a Portfolio Manager 312 12.6 Cost
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Chapter 1: The Practice of Personal Financial Planning Sellers of personal financial products introduced the title financial planner into widespread common usage in the early 1970s and from that introduction, personal financial planning has been claimed by its advocates to be a profession. This thesis, however, will argue
personal financial planning / tax planning data organizer . personal financial planning / tax planning data organizer. Page 6 of 22 Lump Sum Payments made in one or more lump sums toward the principal of an existing loan. These are over and
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