特許金融分析師CFA一級必背高頻考點：固定收益公式盤點

CFA一級的固定收益有許多公式，這些公式非?；A，熟記它們不僅對深入理解知識點有幫助，還能為之后的學習打下堅實的基礎?？靵砗托【幰黄鹂纯窗?！

【考試科目】CFA一級：Fixed Income

【考頻分析】考頻：★★★

【復習程度】熟記公式

【高頻考點】公式

1. For an annual-coupon bond with N years to maturity:

price =

2. For a semiannual-coupon bond with N years to maturity:

price =

3. Bond Value Using Spot Rates:

no-arbitrage price =

4. Full Price Between Coupon Payment Dates

=(Bond value at last coupon date based on the current YTM) × (1+ YTM/#)^t/T

, where # is the number of coupon periods per year, t is the number of days from the last coupon payment date until the date the bond trade will settle, and T is the number of days in the coupon period.

5. Flat Price = full price – accrued interest

6. Current Yield =

7. Forward and Spot Rates: (1 + S₂)² = (1 + S₁)(1 + 1y1y)

8. Option-Adjusted Spread: OAS = Z-spread ? option value

9. Modified Duration =

10. Approximate Modified Duration =

11. Effective Duration =

12. Money Duration = annual modified duration × full price of bond position

13. Money Duration per 100 units of par value =annual modified duration × full bond price per 100 of par value

14. Price Value of a Basis Point: PVBP = [(V_– ? V₊) / 2]

15. Approximate Convexity =

16. Approximate Effective Convexity =

17. %ΔFull Bond Price= –annual modified duration(ΔYTM) +annual convexity(ΔYTM)²

18. Duration Gap = Macaulay duration ? investment horizon

19. Return Impact ≈ ?duration × Δspread +convexity × (Δspread)²

▲如果想要了解更多CFA重點難點解讀，可以關(guān)注正保會計網(wǎng)校CFA尊享無憂班課程，高效備考，老師指導，快來看看為你精心打造的2021年CFA課程吧！點進了解CFA尊享無憂班>>

★CFA課程介紹

尊享無憂班

課程班次模塊：入門前導+基礎精講+提高強化+習題沖刺+考前直播

相關(guān)贈送資料：電子講義+專屬學習題庫+公式表+思維導圖+考前模擬卷+學習計劃

貼心超值服務：24小時專家答疑（答疑精華、答疑周刊）+學習記錄+班級管理+多端學習+考試提醒+專業(yè)答題+考務咨詢

課程期限：5年全科暢學

CFA尊享無憂班更適合小白學員學習，老師帶隊復習重點難點，拿下CFA考試不在話下，購買CFA課程還贈送價值5960元的金融英語和金融數(shù)學，超值！

CFA考證人-專屬學習交流群

CFA考試不再孤軍奮戰(zhàn)，想結(jié)識更多CFA小伙伴嗎？想免費獲取海量CFA學習資料嗎？想要掌握實時的CFA考試信息和政策嗎？趕快掃描下方二維碼，一起加入到CFA考試大家庭吧！

更多推薦：

預告！燃爆618 CFA好課大額優(yōu)惠享不停！速來圍觀！

5月迎戰(zhàn)CFA！14天考期打卡小計劃 正式拉開帷幕！

分享 | CFA成績有效期有多久？哪些行業(yè)才算相關(guān)工作經(jīng)驗？