- CFA Exams
- Dec. 2020 Level 1
- Study Session 16. Derivatives
- Reading 48. Derivative Markets and Instruments
Reading 48. Derivative Markets and Instruments
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Learning Outcome Statements
| Reading 48. Derivative Markets and Instruments | |
|---|---|
| 1. Introduction a. define a derivative and distinguish between exchange-traded and over-the-counter derivatives; | |
| 2. Exchange-Traded versus Over-the-Counter Derivatives a. define a derivative and distinguish between exchange-traded and over-the-counter derivatives; | |
| 3. Forward Commitments b. contrast forward commitments with contingent claims; c. define forward contracts, futures contracts, options (calls and puts), swaps, and credit derivatives and compare their basic characteristics; | |
| 4. Contingent Claims b. contrast forward commitments with contingent claims; c. define forward contracts, futures contracts, options (calls and puts), swaps, and credit derivatives and compare their basic characteristics; | |
| 5. Purposes and Criticisms of Derivative Markets d. describe purposes of, and controversies related to, derivative markets; | |
| 6. Arbitrage e. explain arbitrage and the role it plays in determining prices and promoting market efficiency. |