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Subject 4. Valuing Risky Bonds in an Arbitrage-Free Framework PDF Download
When interest rates are assumed to be volatile, the credit risk of a bond can be estimated in an arbitrage-free valuation framework. The reading provides very detailed steps of valuation and will not be repeated here.

Learning Outcome Statements

calculate the value of a bond and its credit spread, given assumptions about the credit risk parameters;

CFA® 2023 Level II Curriculum, Volume 4, Module 31

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Rva100 :(
davidt87 tf AN?
CFAJ I didn't pay this, just for you to tell me to read the damn book!
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I passed! I did not get a chance to tell you before the exam - but your site was excellent. I will definitely take it next year for Level II.
Tamara Schultz

Tamara Schultz

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