Body of Knowledge (BOK)

What Is Physique of Information?

Physique of data (BOK) refers back to the core teachings and expertise required to work in a specific area or trade. The physique of data (BOK) is often outlined by skilled associations or societies. Members of the occupation define what is required to do their jobs and that varieties the inspiration for the curriculum of {most professional} applications or designations. Folks in search of to enter the occupation should show their mastery of the physique of data with a view to obtain accreditation that allows them to apply these expertise. Candidates often display their mastery of the physique of data by passing rigorous examinations. These exams generally is a single session or the accreditation will be carried out degree by degree, requiring an individual to apply at a specific degree for a set period of time earlier than difficult the subsequent degree. 

Understanding Physique of Information (BOK)

Physique of data is a extra formal approach of referring to issues we extra generally name core competencies and required expertise at the moment. Not not like a job commercial, the physique of data is an inventory of issues you could know and issues you could be capable of do earlier than you may be accepted as an expert by the group doing the accreditation. Universities have an outlined physique of data {that a} pupil should display their familiarity with earlier than being granted a level. Trades have a physique of data that an apprentice works via with a view to grow to be a full journeyman of the commerce. The precise contents of the physique of data for a specific occupation evolves over time. This is without doubt one of the causes that associations are sometimes in command of accreditation, as it is extremely tough for folks exterior of a specific trade to maintain up with new strategies and developments. 

The Physique of Information for the CFA

Within the funding world, one of many best-known examples of the physique of data is that of the Chartered Monetary Analyst, or CFA, program. The CFA program’s Candidate Physique of Information (CBOK) is set by getting enter from CFA Institute members and employers, on present finest practices and projected future tendencies within the funding occupation. The CBOK encompasses 10 information domains:

• Moral {and professional} requirements
• Quantitative strategies
• Economics
• Monetary reporting and evaluation
• Company finance
• Fairness investments
• Fastened earnings
• Derivatives
• Various investments
• Portfolio administration and wealth planning

The CFA Institute frequently evaluations the curriculum to maintain it related to would-be analysts. For instance, the 2017 Follow Evaluation Survey put extra emphasis on the position of massive information in monetary evaluation.