CFA 1 B3,4 Thomas 23

51

Fixed-Income Instrument Features

51.a

Describe the features of a fixed-income security.

51.b

Describe the contents of a bond indenture and contrast affirmative and negative covenants.

52.

Fixed-Income Cash Flows and Types

52.a

Describe common cash flow structures of fixed-income instruments and contrast cash flow contingency provisions that benefit issuers and investors.

52.b

Describe how legal, regulatory, and tax considerations affect the issuance and trading of fixed-income securities.

53

Fixed-Income Issuance and Trading

53.a

Describe fixed-income market segments and their issuer and investor participants.

53.b

Describe types of fixed-income indexes.

53.c

Compare primary and secondary fixed-income markets to equity markets.

54

Fixed-Income Markets for Corporate Issuers

54.a

Fixed-Income Markets for Corporate Issuers

54.b

Describe repurchase agreements (repos), their uses, and their benefits and risks.

54.c

Contrast the long-term funding of investment-grade versus high-yield corporate issuers.

55

Fixed-Income Markets for Government Issuers

56

Fixed-Income Bond Valuation: Prices and Yields

57

Yield and Yield Spread Measures for Fixed-Rate Bonds

58

Yield and Yield Spread Measures for Floating-Rate Instruments

59

The Term Structure of Interest Rates: Spot, Par, and Forward Curves