a. distinguish among realized holding period return, expected holding period return, required return, return from convergence of price to intrinsic value, discount rate, and internal rate of return;

c. estimate the required return on an equity investment using the capital asset pricing model, the Fama-French model, the Pastor-Stambaugh model, macroeconomic multifactor models, and the build-up method (e.g., bond yield plus risk premium);

d. explain beta estimation for public companies, thinly traded public companies, and nonpublic companies;

e. describe strengths and weaknesses of methods used to estimate the required return on an equity investment;

f. explain international considerations in required return estimation;

c. estimate the required return on an equity investment using the capital asset pricing model, the Fama-French model, the Pastor-Stambaugh model, macroeconomic multifactor models, and the build-up method (e.g., bond yield plus risk premium);

d. explain beta estimation for public companies, thinly traded public companies, and nonpublic companies;

e. describe strengths and weaknesses of methods used to estimate the required return on an equity investment;

f. explain international considerations in required return estimation;

h. evaluate the appropriateness of using a particular rate of return as a discount rate, given a description of the cash flow to be discounted and other relevant facts.