Wiki Log

[2026-04-09] init | CFA Level 1 Wiki

• Created directory structure for 10 CFA subjects
• Initialized index, overview, and schema (CLAUDE.md)

[2026-04-09] ingest | SAPP CFA1 Quantitative Methods Slide 2026

• Source: quantitative-methods/raw/SAPP_CFA1_Quant_Slide_2026.pdf
• Created source summary: quantitative-methods/sources/sapp-quant-2026.md
• Created 11 module pages in quantitative-methods/modules/
• Created concept pages in quantitative-methods/concepts/: interest-rates, hpr, return-measures, tvm, annuity, perpetuity, probability, expected-value, covariance, correlation, portfolio-variance, data-types, frequency-distribution
• Created formula pages in quantitative-methods/formulas/: rates-and-returns, time-value-of-money, statistics, probability, portfolio-math
• Created subject index: quantitative-methods/index.md

[2026-04-09] ingest | CFAI CFA1 Quantitative Methods Practice Problems 2026

• Source: quantitative-methods/raw/CFAI_CFA1_Quant_Practice_2026.pdf
• Publisher: CFA Institute — Official 2026 Curriculum
• Created source summary: quantitative-methods/sources/cfai-quant-practice-2026.md
• Created 11 CFAI practice files in quantitative-methods/practice/cfai/ — 109 total questions
• Question distribution: M01(13), M02(12), M03(9), M04(2), M05(1), M06(4), M07(5), M08(20), M09(2), M10(38), M11(3)
• All questions include collapsible answers with detailed step-by-step solutions

[2026-04-10] ingest | SAPP CFA1 Economics Slide 2026

• Source: economics/raw/SAPP_CFA1_Econ_Slide_2026.pdf
• Publisher: SAPP Academy — 2026 curriculum
• Created source summary: economics/sources/sapp-econ-2026.md
• Created subject index: economics/index.md
• Created 9 module pages in economics/modules/: M01 (Firm & Market Structures), Pre (Aggregate Output), M02 (Business Cycles), M03 (Fiscal Policy), M04 (Monetary Policy), M05 (Geopolitics), M06 (International Trade), M07 (Capital Flows & FX), M08 (Exchange Rate Calculations)
• Created 9 concept pages in economics/concepts/: elasticity-of-demand, market-structures, gdp-measurement, aggregate-demand-supply, business-cycles, fiscal-policy, monetary-policy, international-trade, exchange-rates
• Created 3 formula sheets in economics/formulas/: economics-micro, economics-macro, economics-international
• Created 8 glossary files in economics/glossary/: econ-m01 through econ-m08 — 132 total terms

[2026-04-10] ingest | CFAI CFA1 Economics Practice Problems 2026

• Source: economics/raw/CFAI_CFA1_Econ_Practice_2026.pdf
• Publisher: CFA Institute — Official 2026 Curriculum (Volume 2)
• Created source summary: economics/sources/cfai-econ-practice-2026.md
• Created 4 CFAI practice files in economics/practice/cfai/: econ-m01 (13q), econ-m02 (15q), econ-m03 (5q), econ-m04 (8q) — 41 total questions
• All questions include correct answers with explanations

[2026-04-10] ingest | SAPP CFA1 Corporate Issuers Slide 2026

• Source: corporate-issuers/raw/SAPP_CFA1_CI_Slide_2026.pdf
• Publisher: SAPP Academy — 2026 curriculum
• Created source summary: corporate-issuers/sources/sapp-ci-2026.md
• Created subject index: corporate-issuers/index.md
• Created 7 concept pages in corporate-issuers/concepts/: organizational-forms, stakeholder-management, corporate-governance, working-capital, capital-allocation, capital-structure, business-models
• Created 1 formula sheet in corporate-issuers/formulas/: corporate-finance
• Created 7 glossary files in corporate-issuers/glossary/: ci-m01 through ci-m07 — 112 total terms

[2026-04-10] ingest | CFAI CFA1 Corporate Issuers Practice Problems 2026

• Source: corporate-issuers/raw/CFAI_CFA1_CI_Practice_2026.pdf
• Publisher: CFA Institute — Official 2026 Curriculum
• Created source summary: corporate-issuers/sources/cfai-ci-practice-2026.md
• Created 4 CFAI practice files in corporate-issuers/practice/cfai/: ci-m01, ci-m02, ci-m03, ci-m04
• All questions include correct answers with explanations

[2026-04-10] ingest | SAPP CFA1 Equity Investments Slide 2026

• Source: SAPP Academy — 2026 curriculum
• Created 8 concept pages in equity-investments/concepts/: market-organization, security-market-indexes, market-efficiency, equity-securities, company-analysis, industry-analysis, equity-valuation, margin-trading
• Topics: financial system functions, market structure, indexes & weighting methods, EMH 3 forms, equity types (common/preferred/DRs), company & industry analysis, valuation models (DDM, multiples, NAV), margin trading & leverage
• Updated index.md with Equity Investments sources, modules, concepts, practice, glossary sections

[2026-04-10] ingest | CFAI CFA1 Equity Investments Practice Problems 2026

• Source: CFA Institute — Official 2026 Curriculum
• Created 2 CFAI practice files in equity-investments/practice/cfai/: equity-m01 (20q of 37), equity-m02 (15q)
• M01 covers: trader types, financial system functions, market classifications, intermediaries, derivatives basics, margin & leverage
• M02 covers: index definition, weighting methods, rebalancing, reconstitution, index uses
• All questions include correct answers with detailed explanations

[2026-04-10] ingest | SAPP CFA1 Financial Statement Analysis Slide 2026

• Source: financial-statement-analysis/raw/SAPP_CFA1_FSA_Slide_2026.pdf
• Publisher: SAPP Academy — 2026 curriculum
• Created 10 concept pages in financial-statement-analysis/concepts/: financial-statements-overview, revenue-recognition, expense-recognition, cash-flow-analysis, inventory-valuation, long-term-assets, income-taxes-accounting, financial-ratios, reporting-quality, ifrs-vs-gaap
• Created 1 master formula sheet in financial-statement-analysis/formulas/: fsa-formulas (covering BS, IS, CF, EPS, inventory, depreciation, goodwill, bonds, taxes, all ratios, DuPont)
• Created 14 glossary files in financial-statement-analysis/glossary/: fsa-m01 through fsa-m12 + pre1 + pre2 — 238 total terms
• Updated subject index: financial-statement-analysis/index.md

[2026-04-10] ingest | CFAI CFA1 FSA Practice Problems 2026

• Source: financial-statement-analysis/raw/CFAI_CFA1_FSA_Practice_2026.pdf
• Publisher: CFA Institute — Official 2026 Curriculum
• Created 3 CFAI practice files in financial-statement-analysis/practice/cfai/: fsa-m01 (16q), fsa-m02 (14q), fsa-m03 (15q) — 45 total questions
• M01 covers: FSA framework steps, standard setters (IASB, FASB, IOSCO), notes, audit opinions, interim reports
• M02 covers: income under IFRS, net revenue, consignment, EPS (basic and diluted), treasury stock method, common-size IS
• M03 covers: current/non-current assets, goodwill, trading/AFS/HTM securities, common-size BS, impairment, liquidity and solvency ratios
• All questions include correct answers with explanations

[2026-04-12] ingest | CFA1 Fixed Income — Concepts, Formulas, Glossary

• Source: CFA Institute 2026 Curriculum — Fixed Income (19 modules)
• Created 10 concept pages in fixed-income/concepts/: bond-features, bond-valuation, yield-measures, yield-spreads, term-structure, duration, convexity, credit-risk, securitization, interest-rate-risk
• Created 1 master formula sheet in fixed-income/formulas/: fi-formulas (22 formula groups covering bond pricing, yields, spreads, forward rates, duration, convexity, credit, FRN, money market, portfolio)
• Created 19 glossary files in fixed-income/glossary/: fi-m01 through fi-m19 — ~230 total terms
• Topics: bond elements & covenants, coupon types & repayment structures, issuance & trading, corporate & government issuers, bond valuation & pricing, yield measures (YTM/YTC/YTW/EAR), yield spreads (G/I/Z/OAS), FRN & money market yields, term structure & forward rates, interest rate risk & immunization, duration (Mac/Mod/Eff/Key-rate), convexity & portfolio duration, credit risk (POD/LGD/expected loss), credit analysis (sovereign & corporate), securitization (SPE/ABS/MBS/CMO/CDO)
• Updated index.md with FI sources, modules, concepts, formulas, glossary sections
• Updated overview.md: FI row → Done (19 modules), updated counts (6 subjects, 68 modules, 65+ concepts, 980+ terms, 170+ formulas)

[2026-04-12] ingest | CFA1 Derivatives — Concepts, Formulas, Glossary

• Source: CFA Institute 2026 Curriculum — Derivatives (10 modules)
• Created 7 concept pages in derivatives/concepts/: derivative-instruments, forward-commitments, contingent-claims, arbitrage-and-replication, option-valuation, put-call-parity, derivative-risks-and-benefits
• Created 1 master formula sheet in derivatives/formulas/: der-formulas (11 formula groups covering forward payoff/pricing/valuation, option payoff/profit/bounds, FRA settlement, futures BPV, swap settlement/par rate, put-call parity, binomial model)
• Created 10 glossary files in derivatives/glossary/: der-m01 through der-m10 — ~120 total terms
• Topics: derivative instruments & markets (OTC vs ETD, clearinghouse), forward commitments (forwards, futures, swaps), contingent claims (options, CDS, CLN), benefits & risks (leverage, basis, systemic, hedge accounting), arbitrage & replication (law of one price, cost of carry), forward pricing & valuation (FRA, implied forward rate), futures (MTM, BPV, convexity bias), swaps (par swap rate, net settlement), option valuation (bounds, factors, binomial model), put-call parity (protective put, fiduciary call, synthetics, forward parity)
• Updated index.md with Derivatives concepts, formulas, glossary sections
• Updated overview.md: Der row → Done (10 modules), updated counts (7 subjects, 78 modules, 72+ concepts, 1,100+ terms, 200+ formulas)

[2026-04-12] ingest | CFA1 Alternative Investments — Concepts, Formulas, Glossary

• Source: CFA Institute 2026 Curriculum — Alternative Investments (7 modules)
• Created 6 concept pages in alternative-investments/concepts/: alternative-investment-overview, private-capital, real-assets, hedge-fund-strategies, digital-assets, ai-performance-measurement
• Created 1 master formula sheet in alternative-investments/formulas/: ai-formulas (9 formula groups covering MOIC, IRR, management fee, performance fee hard/soft hurdle, net return, commodity futures pricing, contango/backwardation, cap rate)
• Created 7 glossary files in alternative-investments/glossary/: ai-m01 through ai-m07 — ~117 total terms
• Topics: alternative investment categories & characteristics, GP/LP structure & fee arrangements, J-curve & performance measurement (IRR, MOIC, gross/net returns), private equity (VC stages, growth capital, LBOs) & private debt (direct lending, mezzanine, venture debt, distressed), real estate (direct/indirect, REITs, risk-return spectrum, cap rate), infrastructure (economic/social, greenfield/brownfield, PPPs), natural resources (farmland, timberland, commodities, contango/backwardation), hedge fund strategies (equity, event-driven, relative value, opportunistic) & biases (survivorship, backfill, selection), digital assets (DLT, blockchain, consensus mechanisms, smart contracts, cryptocurrencies, tokens, DeFi)
• Updated index.md with AI concepts, formulas, glossary sections
• Updated overview.md: AI row → Done (7 modules), updated counts (8 subjects, 85 modules, 78+ concepts, 1,217+ terms, 209+ formulas)

[2026-04-12] ingest | CFA1 Portfolio Management — Concepts, Formulas, Glossary

• Source: CFA Institute 2026 Curriculum — Portfolio Management (6 modules)
• Created 6 concept pages in portfolio-management/concepts/: portfolio-risk-return, capm-and-sml, performance-measurement, portfolio-management-process, behavioral-biases, risk-management
• Created 1 master formula sheet in portfolio-management/formulas/: pm-formulas (17 formula groups covering expected return, real return, utility, CAL, CML, portfolio variance, covariance, correlation, beta, CAPM, market model, portfolio beta, Sharpe, Treynor, M-squared, Jensen’s alpha, diversification ratio)
• Created 6 glossary files in portfolio-management/glossary/: pm-m01 through pm-m06 — ~104 total terms
• Topics: risk-return tradeoff & utility function, indifference curves & CAL, minimum-variance & efficient frontiers, CML & market portfolio, CAPM & SML, systematic vs unsystematic risk & beta, market model & multi-factor models, Sharpe/Treynor/M-squared/Jensen’s alpha, portfolio management process (planning/execution/feedback), IPS components & investor types, DB vs DC plans & pooled investments, SAA/TAA & core-satellite, behavioral biases (cognitive: conservatism, confirmation, representativeness, illusion of control, hindsight, anchoring, mental accounting, framing, availability; emotional: loss aversion, overconfidence, self-control, status quo, endowment, regret aversion), market anomalies, risk management framework (7 elements), risk governance & CRO, risk tolerance (ability vs willingness), risk budgeting, financial risks (market/credit/liquidity), non-financial risks (operational/model/tail/settlement), risk interactions & modification
• Updated index.md with PM concepts, formulas, glossary sections
• Updated overview.md: PM row → Done (6 modules), updated counts (9 subjects, 91 modules, 84+ concepts, 1,321+ terms, 226+ formulas)

[2026-04-12] ingest | CFA1 Ethical and Professional Standards — Concepts, Glossary

• Source: CFA Institute 2026 Curriculum — Ethics (5 modules)
• Created 5 concept pages in ethics/concepts/: ethics-and-professionalism, code-and-standards-overview, standards-i-to-iii, standards-iv-to-vii, gips-overview
• Created 5 glossary files in ethics/glossary/: ethics-m01 (15 terms), ethics-m02 (20 terms), ethics-m03 (40 terms), ethics-m04 (15 terms), ethics-m05 (5 terms) — ~95 total terms
• No formula sheets — Ethics is entirely conceptual and rules-based
• Topics: ethics definition & professionalism, fiduciary vs suitability standard, ethical decision-making framework (identify/consider/decide/reflect), Code of Ethics (6 components), Standards of Professional Conduct (I–VII with all sub-standards), PCP enforcement process & sanctions, Standard I (knowledge of law, independence/objectivity, misrepresentation, misconduct, competence), Standard II (MNPI/mosaic theory, market manipulation), Standard III (loyalty/prudence/care, fair dealing, suitability, performance presentation, confidentiality), Standard IV (employer loyalty, additional compensation, supervisor responsibilities), Standard V (diligence/reasonable basis, communication, record retention 7yr), Standard VI (disclosure of conflicts, priority of transactions, referral fees), Standard VII (conduct in CFA programs, reference to CFA designation), GIPS (composites, TWR vs MWR, verification, firm definition, discretion, fundamentals of compliance)
• Updated index.md with Ethics subject section, concepts, and glossary entries
• Updated overview.md: Ethics row → Done (5 modules), 10/10 subjects COMPLETE (96 modules, 89+ concepts, 1,416+ terms, 226+ formulas)

[2026-04-14] ingest | SAPP CFA1 Revision Mock Test 2

• Source: SAPP LMS API — quiz-attempts/answers (linked-list traversal of 180 questions)
• Created mock-exams/ directory structure
• Created mock-exams/index.md — Mock Exams index
• Created mock-exams/mock-test-2/index.md — Test overview with score breakdown by topic
• Created 10 topic files in mock-exams/mock-test-2/: ethics (30q), quantitative-methods (13q), economics (12q), financial-statement-analysis (22q), corporate-issuers (13q), equity-investments (23q), fixed-income (23q), derivatives (11q), alternative-investments (14q), portfolio-management (19q)
• Score: 75/180 (41.7%) — all topics below passing threshold (~70%)
• Weakest: Derivatives 9%, Equity 30%, Corporate Issuers 31%
• Each question includes: correct/incorrect status, answer options, solution with Vietnamese explanation, CFA terms with hover tooltips (<abbr> tags)
• Updated index.md with Mock Exams section