Investments principles designed to address the learning outcome statements set forth
by CFA Institute.
STUDY SESSION 15
Reading Assignments
Equity and Fixed Income, CFA Program Level I 2018 Curriculum (CFA Institute, 2017)
50. Fixed-Income Securities: Defining Elements
51. Fixed-Income Markets: Issuance, Trading, and Funding
52. Introduction to Fixed-Income Valuation
53. Introduction to Asset-Backed Securities
STUDY SESSION 16
Reading Assignments
Equity and Fixed Income, CFA Program Level I 2018 Curriculum (CFA Institute, 2017)
54. Understanding Fixed-Income Risk and Return
55. Fundamentals of Credit Analysis
STUDY SESSION 17
Reading Assignments
Derivatives and Alternative Investments, CFA Program Level I 2018 Curriculum (CFA
Institute, 2017)
56. Derivative Markets and Instruments
57. Basics of Derivative Pricing and Valuation
STUDY SESSION 18
Reading Assignments
Derivatives and Alternative Investments, CFA Program Level I 2018 Curriculum (CFA
Institute, 2017)
58. Introduction to Alternative Investments
LEARNING OUTCOME STATEMENTS (LOS)
The CFA Institute Learning Outcome Statements are listed below. These are repeated in
each topic review; however, the order may have been changed in order to get a better
fit with the flow of the review.
STUDY SESSION 15
The topical coverage corresponds with the following CFA Institute assigned
reading:
50. Fixed-Income Securities: Defining Elements
The candidate should be able to:
a. describe basic features of a fixed-income security. (page 1)
b. describe content of a bond indenture. (page 3)
c. compare affirmative and negative covenants and identify examples of each.
(page 3)
d. describe how legal, regulatory, and tax considerations affect the issuance
and trading of fixed-income securities. (page 4)
e. describe how cash flows of fixed-income securities are structured. (page 7)
f. describe contingency provisions affecting the timing and/or nature of cash
flows of fixed-income securities and identify whether such provisions
benefit the borrower or the lender. (page 11)
The topical coverage corresponds with the following CFA Institute assigned
reading:
51. Fixed-Income Markets: Issuance, Trading, and Funding
The candidate should be able to:
a. describe classifications of global fixed-income markets. (page 19)
b. describe the use of interbank offered rates as reference rates in floating-
rate debt. (page 20)
c. describe mechanisms available for issuing bonds in primary markets. (page
21)
d. describe secondary markets for bonds. (page 22)
e. describe securities issued by sovereign governments. (page 22)
f. describe securities issued by non-sovereign governments, quasi-government
entities, and supranational agencies. (page 23)
g. describe types of debt issued by corporations. (page 23)
h. describe structured financial instruments. (page 25)
i. describe short-term funding alternatives available to banks. (page 27)
j. describe repurchase agreements (repos) and the risks associated with them.
(page 28)
The topical coverage corresponds with the following CFA Institute assigned
reading:
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