The core teachings, skills and research in a field or industry. The body of knowledge (BOK) often forms the foundation for the curriculum of most professional programs or designations. It is the essential competencies mastered by members, to receive accreditation before applying these principles in practice. Mastery of the body of knowledge is generally demonstrated by passing rigorous examinations at single or multiple levels.
Since the required core competencies and skill sets for almost any profession evolves and changes over the years, its body of knowledge has to be dynamic, in order to incorporate new information and techniques, and maintain the relevance of the curriculum.
In the investment world, one of the best-known examples of the body of knowledge is that of the Chartered Financial Analyst, or CFA, program. The CFA program's Candidate Body of Knowledge (CBOK) is determined by getting input from CFA Institute members and employers, on current best practices and projected future trends in the investment profession. The CBOK encompasses 10 knowledge domains grouped into four broad areas: ethical and professional standards, investment tools, asset classes, and portfolio management and wealth planning.