RPA 3

RPA 3 Asset Management (CEBS Course 7)

RPA CEBSRPA 3 is scheduled for revision in spring 2010.  The current study materials are applicable for exams taken on or before March 31, 2010. 
 
This is a required course for the RPA designation. It may be used as an elective for the eight-course curriculum.

The investment of plan assets is a major function of employee benefit plan management. Every person working with employee benefit plans should have an understanding of investment policies, security markets, asset selection, portfolio theory and evaluation of financial performance. These topics have an impact not just on pension benefits but on the overall management of employee benefit assets (e.g., self-funded medical plans, VEBA accounts, etc.); consequently, these relationships should be understood by professionals in the field.

The course introduces asset management in the context of setting investment objectives for pension plan assets. The course then provides the necessary background on financial markets, how they are organized and how they operate. The concepts of risk versus return and efficient markets and the impact of modern portfolio theory are presented, followed by a detailed discussion on bonds, stocks and derivatives. The discussion is interwoven with the various approaches, some controversial used by investors in analyzing and evaluating these instruments and the overall performance of specific financial markets.

Study Materials:

For exams taken on or before 3/31/2010

  • Study Manual, 6th edition-includes Practice Exam on CD (PC only), $125.00.
  • Investments: Analysis and Management, 10th edition, Charles P. Jones, John Wiley & Sons, Inc., 2006, $127.00, ISBN 0-470-04781-X.

For exams taken on 4/15/2010 or after

  • Learning Guide with Practice Exam on CD (PC only), $140.00.
  • Investments: Analysis and Management, 11th edition, Charles P. Jones, John Wiley & Sons, Inc., 2010, $142.00, ISBN 978-0-470-47712-0.

May meet CE Credit Requirements

Click here for ACE Credit Recommendation.

Enrichment Reading:
Investment Policy Statements
Best Practices for Investment Committees

Assignment Topics:

  1. Setting Investment Objectives
  2. Securities Markets
  3. Risk and Return Concepts
  4. Portfolio Theory and Selection
  5. The Basics of Bonds
  6. Bond Analysis and Strategy
  7. Common Stock: Valuation, Analysis and Strategy
  8. Common Stock: Active Strategies and Market Efficiency
  9. Fundamental Analysis: Market and Industry
  10. Company Analysis and Technical Analysis
  11. Options and Futures
  12. Investment Companies
  13. Lifecycle Investing
  14. Evaluating Investment Performance
  15. International Investing