Fixed Income Analysis, Fifth Edition Workbook: CFA Institute Investment Series

Part I Learning Objectives, Summary Overview, and Problems Chapter 1 Fixed-Income Securities: Defining Elements 3 Learning Outcomes 3 Summary Overview 3 Problems 5 Chapter 2 Fixed-Income Markets: Issuance, Trading, and Funding 9 Learning Outcomes 9 Summary Overview 9 Problems 11 Chapter 3 Introduction to Fixed-Income Valuation 15 Learning Outcomes 15 Summary Overview 15 Problems 18 Chapter 4 Introduction to Asset-Backed Securities 25 Learning Outcomes 25 Summary Overview 25 Problems 28 Chapter 5 Understanding Fixed-Income Risk and Return 33 Learning Outcomes 33 Summary Overview 34 Problems 36 Chapter 6 Fundamentals of Credit Analysis 41 Learning Outcomes 41 Summary Overview 41 Problems 45 Chapter 7 The Term Structure and Interest Rate Dynamics 53 Learning Outcomes 53 Summary Overview 53 Problems 54 Chapter 8 The Arbitrage-Free Valuation Framework 65 Learning Outcomes 65 Summary Overview 65 Problems 66 Chapter 9 Valuation and Analysis of Bonds with Embedded Options 75 Learning Outcomes 75 Summary Overview 76 Problems 78 Chapter 10 Credit Analysis Models 89 Learning Outcomes 89 Summary Overview 89 Problems 90 Chapter 11 Credit Default Swaps 99 Learning Outcomes 99 Summary Overview 99 Problems 100 Chapter 12 Overview of Fixed-Income Portfolio Management 105 Learning Outcomes 105 Summary Overview 105 Problems 107 Chapter 13 Liability-Driven and Index-Based Strategies 113 Learning Outcomes 113 Summary Overview 113 Problems 117 Chapter 14 Learning Outcomes 125 Summary Overview 125 Problems 127 Chapter 15 Fixed-Income Active Management: Credit Strategies 133 Learning Outcomes 133 Summary Overview 134 Problems 135 Part II Solutions Chapter 1 Fixed-Income Securities: Defining Elements 145 Solutions 145 Chapter 2 Fixed-Income Markets: Issuance, Trading, and Funding 149 Solutions 149 Chapter 3 Introduction to Fixed-Income Valuation 153 Solutions 153 Chapter 4 Introduction to Asset-Backed Securities 167 Solutions 167 Chapter 5 Understanding Fixed-Income Risk and Return 175 Solutions 175 Chapter 6 Fundamentals of Credit Analysis 183 Solutions 183 Chapter 7 The Term Structure and Interest Rate Dynamics 189 Solutions 189 Chapter 8 The Arbitrage-Free Valuation Framework 197 Solutions 197 Chapter 9 Valuation and Analysis of Bonds with Embedded Options 203 Solutions 203 Chapter 10 Credit Analysis Models 211 Solutions 211 Chapter 11 Credit Default Swaps 225 Solutions 225 Chapter 12 Overview of Fixed-Income Portfolio Management 229 Solutions 229 Chapter 13 Liability-Driven and Index-Based Strategies 233 Solutions 233 Chapter 14 Yield Curve Strategies 239 Solutions 239 Chapter 15 Fixed-Income Active Management: Credit Strategies 243 Solutions 243 About the CFA Program 247