- CFA Exams
- 2021 Level II
- Study Session 13. Fixed Income (2)
- Reading 36. Credit Default Swaps
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Learning Outcome Statements PDF Download
| 1. Basic definitions and concepts a. describe credit default swaps (CDS), single-name and index CDS, and the parameters that define a given CDS product; | |
| 2. Credit events and settlement protocols b. describe credit events and settlement protocols with respect to CDS; | |
| 3. Basics of valuation and pricing c. explain the principles underlying, and factors that influence, the market's pricing of CDS; | |
| 4. Applications of CDS d. describe the use of CDS to manage credit exposures and to express views regarding changes in shape and/or level of the credit curve; e. describe the use of CDS to take advantage of valuation disparities among separate markets, such as bonds, loans, equities, and equity-linked instruments. |
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