GRA 6554 CFA Research Challenge
GRA 6554 CFA Research Challenge
The course reviews and strengthens the necessary skills to compete efficiently at CFA Research Challenge. The course focuses on developing valuation skills to produce an analyst report on a company and to develop a presentation based on the report.
Students are expected to compete but it is not necessary for the course. Priority will be given to those who want to compete. The course grade is independent of the competition.
For further information about the Research Challenge, see
http://www.cfainstitute.org/community/challenge/Pages/index.aspx
The course builds on the valuation skills developed in the Corporate Finance, Applied Valuation or similar courses. The course will introduce you to the work of financial analysts by conducting an in-depth analysis of one company. You will learn how to produce an efficient analyst report and how to communicate your results by presenting your findings and arguing for buy or sell recommendation based on your research.
The structure of the course will prepare you for the CFA Research Challenge. As part of the course, you will compete for a change to participate at country-wide elimination round. The winner of a country-wide round proceeds to the regional round. As part of the preparation, you will work with an industry mentor to fine-tune the analysis.
Therefore, the course, is applied, industry, and skills oriented.
- Write an analyst report
- See how valuation approaches such as Enterprise Discounted Cash Flow (DCF), Adjusted Present Value, Equity DCF, multiples relate to the company value.
- How to incorporate overall business analysis in the company valuation.
- Understand how to focus you report to efficiently communication your findings.
- Master sensitivity analysis to support your arguments.
Ability to think critically about sources of value in a business, ability to integrate valuation techniques in a report, ability to clearly communicate valuation results to a potential investor.
Weekly meetings with faculty and\or industry mentor to develop the report and to rehearse the presentation.
Applicants are selected competitively before the start of the semester.
Please note that while attendance is not compulsory in all courses, it is the student’s own responsibility to obtain any information provided in class that is not included on the course homepage/itslearning or text book.
Assessment will be based on the written report and on the case presentation. Each given 50% weight.
All parts of the assessment must be passed in order to get a grade in the course.
Honour Code
Academic honesty and trust are important to all of us as individuals, and represent values that are encouraged and promoted by the honour code system. This is a most significant university tradition. Students are responsible for familiarizing themselves with the ideals of the honour code system, to which the faculty are also deeply committed. The expected behaviour and honour code is outlined here.
Any violation of the honour code will be dealt with in accordance with BI’s procedures for cheating. These issues are a serious matter to everyone associated with the programs at BI and are at the heart of the honour code and academic integrity. If you have any questions about your responsibilities under the honour code, please ask.
All courses in the Masters programme will assume that students have fulfilled the admission requirements for the programme. In addition, courses in second, third and/or fourth semester can have specific prerequisites and will assume that students have followed normal study progression. For double degree and exchange students, please note that equivalent courses are accepted.
Corporate Finance and/or Appied Valuation course.
| Assessments |
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Exam category: Submission Form of assessment: Written submission Weight: 50 Grouping: Group (3 - 6) Duration: 8 Week(s) Exam code: GRA65541 Grading scale: Point scale leading to ECTS letter grade Resit: All components must, as a main rule, be retaken during next scheduled course |
Exam category: Activity Form of assessment: Presentation and discussion Weight: 50 Grouping: Group/Individual (1 - 6) Duration: 1 Semester(s) Exam code: GRA65541 Grading scale: Point scale leading to ECTS letter grade Resit: All components must, as a main rule, be retaken during next scheduled course |
A course of 1 ECTS credit corresponds to a workload of 26-30 hours. Therefore a course of 3 ECTS credit corresponds to a workload of at least 80 hours.