2023 CFA Level I Exam: Topic 5. Equity Investments - Learning Module 36. Market Organization and Structure

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	1. The Functions of the Financial System explain the main functions of the financial system;
	2. Assets and Contracts describe classifications of assets and markets; describe the major types of securities, currencies, contracts, commodities, and real assets that trade in organized markets, including their distinguishing characteristics and major subtypes;
	3. Financial Intermediaries describe types of financial intermediaries and services that they provide;
	4. Positions compare positions an investor can take in an asset; calculate and interpret the leverage ratio, the rate of return on a margin transaction, and the security price at which the investor would receive a margin call;
	5. Orders compare execution, validity, and clearing instructions; compare market orders with limit orders;
	6. Primary Security Markets define primary and secondary markets and explain how secondary markets support primary markets;
	7. Secondary Security Market and Contract Market Structures describe how securities, contracts, and currencies are traded in quote-driven, order-driven and brokered markets;
	8. Well-Functioning Financial Systems describe characteristics of a well-functioning financial system;
	9. Market Regulation describe objectives of market regulation.

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