Learning Outcome Statements

1. Basic Features of a Fixed-Income Security

a. describe basic features of a fixed-income security;

2. Bond Indenture

b. describe content of a bond indenture;

c. compare affirmative and negative covenants and identify examples of each;

3. Legal, Regulatory and Tax Considerations

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

4. Structure of a Bond's Cash Flows

e. describe how cash flows of fixed-income securities are structured;

5. Bonds with Contingency Provisions

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.