Korea Securities Investment Advisor study plan

Map the Korean financial investment instrument taxonomy (equity securities, debt securities, beneficiary certificates, derivatives-linked securities, investment contracts) and classify 20 sample instruments by legal form and risk profile

Compare the structure and trading mechanics of KOSPI, KOSDAQ, KONEX, and the ETF/ETN market segments, including price limits, tick sizes, and settlement cycles

Trace how interest rates, inflation, and FX rates transmit to bond and equity prices, and explain the role of the Bank of Korea base rate in that chain

Compute after-tax holding-period return for a domestic equity sale and a coupon-bearing bond using the statutory tax bases covered in Domain 5

Build a one-page formula sheet covering accrued interest, yield to maturity, and the taxation of interest versus capital gains

Calculate bond duration, modified duration, and convexity for three hypothetical bonds and interpret the price change for a 100bp parallel shift

Explain the construction and use of KOSPI 200, KOSDAQ 150, and KTB index benchmarks, including free-float adjustment and rebalancing effects

Distinguish forward, futures, and option payoffs and compute the payoff at expiry for a covered call and a protective put

Interpret the main macro releases (CPI, GDP, trade balance, base rate decisions) and state the expected direction of impact on rates and equities

Compute expected return, variance, covariance, and correlation for a two-asset and three-asset portfolio and plot the efficient frontier points

Derive and apply the Capital Asset Pricing Model to estimate required return, and critique its assumptions using Korean market evidence

Calculate Sharpe, Treynor, Jensen's alpha, and information ratio for a sample fund series and rank the funds

Explain the three forms of market efficiency and identify which Korean market anomalies (e.g., momentum, size) challenge each form

Apply the Markowitz and single-index model frameworks to reduce the covariance matrix inputs for a 10-asset portfolio

Conduct top-down and bottom-up equity analysis on one KOSPI-listed company and produce a justified target price range using at least two valuation methods (PER/PBR relative and DCF)

Compare relative valuation multiples across the semiconductor, battery, and bio sectors and explain sector-specific multiple selection

Summarize the core investor-protection rules in the Financial Investment Services and Capital Markets Act (FSCMA): suitability, appropriateness, explanation duty, and unsolicited solicitation

Identify the licensing categories of financial investment business (investment trading, investment brokerage, collective investment, investment advisory, discretionary investment) and match each to permitted activities

Apply the Know-Your-Customer, suitability, and appropriateness assessment workflow to three client scenarios and document the required records

Explain the prohibition on unfair trade practices (front-running, scalping, market manipulation) and classify five fact patterns as violations or non-violations with reasoning

Describe the dispute resolution and investor compensation framework, including the role of the Korea Financial Investment Association and the Financial Supervisory Service

Outline anti-money laundering and customer due diligence obligations for securities firms under the Specific Financial Information Act

Draft an Investment Policy Statement (IPS) for a hypothetical retail client covering objectives, constraints, risk tolerance, and rebalancing rules

Construct and justify a strategic asset allocation across equities, bonds, and alternatives for three investor profiles (conservative, balanced, aggressive)

Compare collective investment vehicles available in Korea (public funds, private funds, ETFs, REITs) on fees, liquidity, disclosure, and tax treatment

Apply the CFA Institute-style and Korean regulatory ethical standards to three dilemmas: gift acceptance, soft-dollar arrangements, and priority allocation of hot issues

Explain the fiduciary duties of an investment adviser and the conflicts-of-interest disclosure requirements under the FSCMA

Compute capital gains tax on domestic listed shares, including the major-shareholder threshold and the securities transaction tax, for two worked examples

Explain the taxation of fund distributions and redemption gains, and compare the tax treatment of domestic versus foreign collective investment securities

Describe the tax treatment of derivatives gains and the withholding regime for interest and dividends, including the comprehensive financial income tax threshold

Reconcile a simple portfolio's book value to market value and compute realized and unrealized gains for performance reporting under Korean accounting conventions

Review performance attribution for a sample balanced portfolio and separate allocation effect from selection effect

Synthesize all six domains into a single integrated case: advise a hypothetical client from KYC through IPS, allocation, product selection, tax planning, and compliance review

Complete two timed full-length mock exams under exam conditions and score each domain separately

Identify the three weakest sub-topics from mock results and write targeted remediation notes for each

Recite from memory the key statutory thresholds, ratios, and deadlines across all domains (tax rates, disclosure timelines, suitability triggers)