PART 01 Fund Structure and Understanding 1

Chapter 01 Types of Collective Investment Schemes 2
Section 01 Trust-type collective investment scheme (investment trust) 2
Section 02 Corporate Collective Investment Scheme 6
Section 03 Collective Investment Scheme in the Form of a Combination 9

Chapter 02 Types of Collective Investment Schemes 11
Section 01 Securities Collective Investment Scheme 11
Section 02 Real Estate Collective Investment Scheme 12
Section 03 Special Asset Collective Investment Scheme 13
Section 04 Mixed Asset Collective Investment Scheme 14
Section 05 Short-term Financial Collective Investment Scheme (MMF) 14

Chapter 03 Special Forms of Collective Investment Schemes 20
Section 01 No-Redeem Collective Investment Scheme 20
Section 02 Types of Collective Investment Schemes 21
Section 03 Convertible Collective Investment Scheme 23
Section 04 Hat-type collective investment scheme 25
Section 05 Listed Index Collective Investment Schemes (ETFs) 26

Chapter 04 Collective Investment Schemes by General Classification 30
Section 01 Classification by Fund Characteristics 30
Section 02 Classification by Investment Region 40
Section 03 Classification by Investment Strategy 43
Section 04 Classification by Alternative Investment 49

Chapter 05 Real Estate Fund 50
Section 01 Overview of Real Estate Funds 50
Section 02 Types of Real Estate Funds 55

Chapter 06 Special Asset Fund 58
Section 01 Overview of Special Asset Funds 58
Section 02 Types of Special Asset Funds 61
Practice Test Questions 63

PART 02 Fund Structure and Understanding 2

Chapter 01 Trust 70
Section 01 General Theory of Trusts 70

Chapter 02 Types of Trust Products 76
Section 01 Types and Main Contents of Trust Products 76

Chapter 03: Sales of Trust Products 85
Section 01 Sale of Trust Products 85
Practice Test Questions 93

PART 03 Investment Management

01 Asset Allocation and Investment Management 96
SECTION 01 The Significance of Asset Allocation 96
SECTION 02 The Importance of Asset Allocation 98
SECTION 03 Asset Allocation is the Core Solution for “Investment Management” 99

Chapter 02 Asset Allocation Design and Implementation 101
SECTION 01 Setting Investment Goals 101
SECTION 02 Asset Allocation: Selecting Asset Groups 103
SECTION 03 Expected Return 105
SECTION 04 Risk 110
SECTION 05 Implementing Asset Allocation 112

Chapter 03 Types of Asset Allocation Strategies 123
SECTION 01 Strategic Asset Allocation Strategy 123
SECTION 02 Tactical Asset Allocation Strategy 127
[Reference] Understanding ESG Investing 131
Practice Test Questions 140

PART 04 Fund Evaluation

Chapter 01 Fund Analysis and Evaluation 146
Section 01 Purpose of Fund Analysis and Evaluation 146
Section 02 Analysis and Evaluation of Collective Investment Schemes 150

Chapter 02 Collective Investment Scheme Performance Evaluation 153
Section 01 Investment Process and Investment Performance Factors 153
Section 02 Types of Performance Evaluation 155
Section 03 Classification of Collective Investment Scheme Types 156
Section 04 Benchmark Settings 157
Section 05 Calculating Rates of Return 159
Section 06 Risk Measurement 161
Section 07 Measuring Risk-Adjusted Performance 164
Section 08 Performance Factor Analysis 167
Section 09 Portfolio Analysis 168
Section 10 Qualitative Analysis of Operating Companies and Operators 169

Chapter 03 Collective Investment Scheme Evaluation Report 171
Section 01 Overview of the Collective Investment Scheme Evaluation Report 171
Section 02 Analysis of Key Points in the Collective Investment Scheme Evaluation Report 172
Practice Test Questions 175

PART 05 FUND LAW

Chapter 01 General Introduction 180
SECTION 01: The Concept and History of Investment Funds 180
Section 02: Characteristics of Investment Funds 182
Section 03 Classification of Investment Funds 183
Section 04 Regulatory System for Investment Funds in Korea 185

Chapter 02 Collective Investment Schemes 187
Section 01 Collective Investment 187
Section 02: Concept, Structure, and Institution of Collective Investment Schemes 188
Section 03 Establishment and Registration of Collective Investment Schemes 195
Chapter 03 Issuance, Sale, and Redemption of Collective Investment Securities 201
Section 01 Issuance of Collective Investment Securities 201
Section 02 Investment Solicitation for Collective Investment Securities 205
Section 03 Advertising, Sales Commissions, and Commissions for Collective Investment Securities, etc. 207
Section 04 Redemption of Collective Investment Securities 210

Chapter 04: Business Conduct Guidelines for Collective Investment Managers 217
Section 01 Duty of Care and Duty of Loyalty 217
Section 02 Instructions and Execution of Asset Management 218
Section 03 Restrictions on Asset Management 219
Section 04 Restrictions on borrowing and lending, etc. 224
Section 05 Restrictions on Transactions with Interested Parties, etc. 225
Section 06 Prohibition of Unsound Business Practices 227
Section 07 Limitations on Performance-Based Compensation 228
Section 08 Voting Rights Restrictions, etc. 230
Section 09 Disclosure on Asset Management 231
Section 10 Special Provisions Regarding Derivatives and Real Estate Management 236

Chapter 05 Types of Collective Investment Schemes 239
Section 01 Types of Collective Investment Schemes 239
Section 02 Special Forms of Collective Investment Schemes 248

Chapter 06 Valuation and Accounting of Collective Investment Assets 254
Section 01 Valuation and Reference Price of Collective Investment Assets 254
Section 02 Accounting for Collective Investment Assets 259

Chapter 07: Custody and Management of Collective Investment Assets 262
Section 01 Duty of Care, etc. 262
Section 02 Monitoring of Operational Behaviors, etc. 265

Chapter 08 Dissolution of Collective Investment Schemes, etc. 268
Section 01 Termination and Dissolution of Collective Investment Schemes (Investment Trusts) 268
Section 02 Merger of Collective Investment Schemes 271

Chapter 09 Special Provisions for Private Equity Investment Schemes 273
Section 01 General Provisions 273
Section 02 General Private Equity Investment Scheme 276
Section 03 Private Equity Investment Funds for Institutions 281

Chapter 10 Special Provisions for Foreign Collective Investment Securities 288
Section 01 Registration of Foreign Collective Investment Schemes 288
Section 02 Domestic sales methods for foreign collective investment securities, etc. 290
Section 03 Supervision and Inspection of Foreign Collective Investment Businesses 292
Practice Test Questions 293

PART 06 Financial Consumer Protection Act

Chapter 01 Background to the Enactment of the Financial Consumer Protection Act 298
SECTION 01 Background to the Enactment 298
SECTION 02 Establishment History 299

Chapter 02 Overview of the Financial Consumer Protection Act 300
SECTION 01 Major Systemic Changes after the Enforcement of the Financial Consumer Protection Act 300
SECTION 02 Composition of the Financial Consumer Protection Act 301
SECTION 03 Key System of the Financial Consumer Protection Act 302
SECTION 04 Location of the Financial Consumer Protection Act 303
SECTION 05 Exceptions to the Financial Consumer Protection Act 304
SECTION 06 Classification of Professional Financial Consumers 304
SECTION 07 Rights and Responsibilities of Financial Consumers, etc. 306
SECTION 08 Six Principles of Selling 307

Chapter 03 Key Contents of the Financial Consumer Protection Act 310
SECTION 01 Investment Products and Loan Products 310
SECTION 02 Six Principles of Selling 312
SECTION 03: Regulations on Business Conduct of Financial Product Sales Agents and Brokers 327
SECTION 04 Regulations on Door-to-Door (Telephone) Sales 328
SECTION 05: Financial Consumer Rights Enhancement System 331
SECTION 06 Strengthening Sanctions for Violations of Sales Principles 339
Practice Test Questions 347

PART 07 Fund Sales Practices

Chapter 01 Fund Sales Procedures 352
Section 01 Fund Sales Stage 352
Section 02 Fund Sales Step-by-Step Detailed Procedures 353

Chapter 02: Profitable Securities Savings Transactions 354
Section 01 The Significance of Profitable Securities Savings 354
Section 02 Establishment of a Profitable Securities Savings Agreement 355
Section 03 Types of Income Securities Savings 356
Section 04 Key Contents of Profitable Securities Savings 358
Section 05 Preferential measures for savers 363
Section 06 Deposit and Withdrawal Processing for Trading Income Securities 367

Chapter 03 Fund Taxation 371
Section 01 Collective Investment Schemes and Taxation 371
Section 02 General Contents of the Income Tax Act: Financial Income and Comprehensive Taxation of Financial Income 372
Section 03 Taxation of Collective Investment Schemes 377
Section 04 Taxation at the Investor Stage 389
Practice Test Problem 393

PART 08 PROFESSIONAL ETHICS

Chapter 01 General Professional Ethics 398
SECTION 01 Understanding Professional Ethics 398
SECTION 02: Basic Ideas and Domestic and International Trends in Professional Ethics 408
SECTION 03 Professional Ethics in This Textbook 412

Chapter 02: Financial Investment Business Ethics 415
SECTION 01 Basic Principles 415
SECTION 02 Obligation to Avoid Conflicts of Interest 422
SECTION 03 Financial Consumer Protection Obligations 427
SECTION 04 Ethics for Oneself, the Company, and Society 481

Chapter 03 Compliance Procedures for Professional Ethics and Sanctions for Violations 509
SECTION 01 Compliance Procedures for Professional Ethics 509
SECTION 02 Sanctions for Violations of Professional Ethics 525
Practice Test Questions 531

PART 09 Investor Dispute Prevention

Chapter 01 Dispute Prevention System 538
SECTION 01 Understanding Disputes 538
SECTION 02: How to Prevent Disputes 544
SECTION 03 Processing of Customer Information Related to the Personal Information Protection Act 550

Chapter 02 Compliance Procedures and Sanctions for Violations 555
SECTION 01 Internal Control Standards 555
SECTION 02 Sanctions for Violations 556
SECTION 03 Dispute Resolution System 566

Chapter 03 Analysis of Major Dispute Cases 571
SECTION 01 Disputes Related to Financial Investment Products 571
Section 02 Major Dispute Cases Related to Fund Products 574
Practice Test Questions 581

PART 10 Investment Solicitation

Chapter 01 Investment Solicitation and Customer Management 588
SECTION 01 Investment Solicitation 588
SECTION 02 Customer Relationship Management (CRM) 629
Practice Test Questions 637