Investment Training and Consulting Institute, Inc.

The CIDA Program’s Body of Knowledge

The CIDA program’s “Body Of Knowledge” includes but is not limited to:

  • The Investment Process: Trade Processing, Settlement and Clearance
  • The Short-Term Market: T-Bills, Commercial Paper, Banker’s Acceptance, CDs, Eurodollars, and Agencies.
  • Securities in the Capital Markets: Fixed Income Securities: Treasuries, Corporate Bonds, Zero-Coupon Bonds, Asset-Backed, Mortgage-Backed Securities, and Municipals.
  • Equities: Preferred, Common, Equity-Linked Notes
  • The Importance of Auditing Derivatives: What’s Going Wrong? Derivative Debacles of the Past, Hedging vs. Speculation, Derivative Risk Management, What’s Going Right?
  • Managing the Cash: Reasons to Hold Cash in the Portfolio, Best Practices for “Economizing” Cash, Internal Controls in the Cash Management Process
  • The Forward and Futures Contracts: Mechanics, Why Forwards rather than Futures, Why Futures rather than Forwards, Characteristics of Exchange-Traded Contracts, The Mechanics of Margin, Using Futures to Hedge Fair Market Value
  • Fundamentals of Options: Option Strategies and Terminology, Analyzing the Option Premium, Types of Options, Caps and Floors.
  • SWAP Mechanics and Terminology: SWAP Examples, Foreign Currency Hedging with SWAPS, SWAP Examples, SWAPTIONS
  • Back office and Reporting: Back Office Systems and Controls, Understanding the Pitfalls of Investment Reporting
  • The Front Office: The Portfolio Management Process, Auditing Broker Activity, Auditing Soft Dollar Activity
  • The Middle Office: Model Verifications, Price Verifications, Understanding Value-at -Risk
  • Significance of the Asset and Liability Management (ALM) Function: Popular Methods of ALM, Duration, Stress Testing
  • Management Risk: Responsibilities, Policies and Procedures, Audit Considerations
  • Market Risk: VAR, Model Risk, Price Risk, Liquidity Risk, Audit Considerations
  • Counterparty Risk: Master Agreements, Credit Enhancements, Credit Value-At-Risk, Audit Considerations
  • Legal Risk: Netting Enforceability, Foreign Counterparties, Audit Considerations
  • Operational Risk: Audit Considerations, Compliance in the Investment Infrastructure, Accounting for Investments & Derivatives

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