Finance Exam Prep[CFA Level I] 22, Skewness Kurtosis and Downside Risk
This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: * The definitions of positive and negative skewness and their impact on typical unimodal distributions. * How kurtosis and excess kurtosis reflect standardized fourth moments and tail sensitivity. * Why symmetric dispersion metrics like standard deviation can misstate downside exposure. * The calculation steps and sample size denominator used for target downside deviation. * Why summary distribution moments alone cannot determine target downside deviation without actual return observations. This episode provides independent candidate prep and is not affiliated with or endorsed by CFA Institute. Practice questions available at https://open-exam-prep.com/practice/cfa-level1 and video tutorials at https://www.youtube.com/@Open-exam-prep . Sources checked: October 12, 2026 https://www.cfainstitute.org/programs/cfa-program/candidate-resources/level-i-exam https://www.cfainstitute.org/sites/default/files/2027levelitopicoutline_online.pdf
