CFA Level 1: Study Session 14. Fixed Income (1) - Reading 44. Introduction to Fixed-Income Valuation

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	1. Bond Prices and the Time Value of Money a. calculate a bond's price given a market discount rate;
	2. Relationships between Bond Price and Bond Characteristics b. identify the relationships among a bond's price, coupon rate, maturity, and market discount rate (yield-to-maturity); c. define spot rates and calculate the price of a bond using spot rates;
	3. Flat Price, Accrued Interest, and the Full Price d. describe and calculate the flat price, accrued interest, and the full price of a bond;
	4. Matrix Pricing e. describe matrix pricing;
	5. Yield Measures for Fixed-Rate Bonds f. calculate annual yield on a bond for varying compounding periods in a year;
	6. Yield Measures for Floating-Rate Notes and Money Market Instruments g. calculate and interpret yield measures for fixed-rate bonds and floating-rate notes; h. calculate and interpret yield measures for money market instruments;
	7. The Maturity Structure of Interest Rates i. define and compare the spot curve, yield curve on coupon bonds, par curve, and forward curve; j. define forward rates and calculate spot rates from forward rates, forward rates from spot rates, and the price of a bond using forward rates;
	8. Yield Spreads k. compare, calculate, and interpret yield spread measures.

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