FINANCIAL MARKET COURSES
Japanese Equity Market
Receivable Finance (New)
Lending - An Introduction
The Lending Cycle
Commodities - An Introduction (Revised)
Commodities - Trading (New)
Commodities - Livestock (New)
Commodities - Softs (New)
Primer – MiFID II/MiFIR (New)
Understanding Private Wealth Management Business
Private Wealth Management Products & Services
Primer – Smart Beta (New)
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Portfolio Theory – Arbitrage Pricing Theory (APT)
This course examines in detail the arbitrage pricing theory (APT) model, introduced by Stephen Ross in 1976 as a different equilibrium model that relaxes many of the assumptions of CAPM. The APT model does not depend on the need for an underlying market portfolio, instead operating on the key assumption that the returns on a security are generated by an identical process to that used by single- and multi-index models. Beginning by comparing the assumptions of the APT model with those of CAPM, this course describes how the arbitrage process works and examines the merits of APT as a capital asset pricing model.
On completion of this course, you will be able to:
• Compare the assumptions of the APT model with those of CAPM
• Describe how the arbitrage process works to ensure an equilibrium along the arbitrage pricing line
• Evaluate the merits of APT as a capital asset pricing model
Topic 1: APT Assumptions
Topic 2: The APT Model
• The Arbitrage Pricinf Line
• Mis-priced Securities
• The Arbitrage Process
• Riskless Arbitrage
• Can the Arbitrage Pricing Line be Non-Linear?
• The Arbitrage Pricing Line
Topic 3: An Appraisal of the APT Model
• APT Versus CAPM
• APT – Empirical Research
• IS APT Testable?
Portfolio Theory - The Capital Asset Pricing Model (CAPM) - View Now
ESTIMATED COMPLETED TIME
Portfolio Theory - Performance Measurement Models
This course looks at a number of well-known rules that are used to choose between risky investments. In the securities markets, billions of dollars are shifted from one form of investment to another on the back of the results generated by these performance measures.
Other Courses In:
Market Efficiency - The Concept
Market Efficiency - The Evidence
Portfolio Theory - The Markowitz Model
Portfolio Theory - Single-Index &
Portfolio Theory - The Capital Asset Pricing
Portfolio Theory - Performance
Portfolio Management - Passive &
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