Body of Knowledge (BOK)

What is a body of knowledge?

The body of knowledge (BOK) refers to the basic teachings and skills required to work in a particular field or industry. The body of knowledge (BOK) is usually defined by professional associations or societies. Members of the profession describe what is needed to do their jobs and this forms the basis of the curriculum for most programs or professional designations. Individuals wishing to enter the profession must demonstrate their mastery of the body of knowledge in order to receive an accreditation which allows them to practice these skills. Candidates generally demonstrate their mastery of the body of knowledge by passing rigorous examinations. These exams can be a single session or accreditation can be done on a level-by-level basis, requiring a person to practice at a particular level for a set amount of time before progressing to the next level.

Understanding the Body of Knowledge (BOK)

The body of knowledge is a more formal way of referring to things we more commonly call basic skills and skills required today. Much like a job posting, the body of knowledge is a list of things you need to know and things you need to be able to do before you’ll be accepted as a professional by the agency doing the job. accreditation. Universities have a set set of knowledge that a student must demonstrate familiarity with before earning a degree. Trades have a body of knowledge that an apprentice works to become a full journeyman in the trade. The actual content of the body of knowledge for a particular profession evolves over time. This is one of the reasons why associations are often in charge of accreditation, as it is very difficult for people outside of a particular industry to keep up to date with new techniques and developments.

The body of knowledge for the CFA

In the world of investing, one of the best-known examples of the body of knowledge is that of Chartered Financial Analyst, or CFA, program. The Candidate Body of Knowledge (CBOK) of the CFA program is determined by obtaining feedback from CFA Institute members and employers, on current best practices and projected future trends in the investment profession. The CBOK encompasses 10 knowledge areas:

  • Ethical and professional standards
  • Quantitative methods
  • Economy
  • Reporting and financial analysis
  • business Finance
  • Equity investments
  • Fixed income
  • Derivatives
  • Alternative investments
  • Portfolio management and wealth planning

The CFA Institute regularly reviews the program to keep it relevant to prospective analysts. For example, the 2017 practice analysis survey placed greater emphasis on the role of big data in financial analysis.

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