My study group started Fixed Income today. Here is the schedule we plan to follow:
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Features of Debt Securities
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16-Sep
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Risks Associated with Investing in Bonds
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30-Sep
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Overview of Bond Sectors and Instruments
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4-Oct
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Understanding Yield Spreads
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20-Sep
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Introduction to the Valuation of Debt Securities
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23-Sep
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Yield Measures, Spot Rates, and Forward Rates
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27-Sep
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Introduction to the Measurement of Interest Rate Risk
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30-Sep
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We are doing the second reading (Risks associated with investing in bonds) and last reading (Interest rate risk) together because the topics are related. We’ll do Overview of Bond Sectors and Instruments at the end. This reading covers topics like MBS, ABS, CDO, etc which don’t really flow with the other readings in Level 1 FIS.
Many of the practice problems in FIS are text-book style rather than CFA/MCQ style. My suggestion here is that you read the question, think about your answer, jot down your points and then read the Curriculum answer. This way you’ll get the core points without spending too much time. I think Schweser questions on FIS are generally good so make sure you do them too.