标题: Reading 43 Topics not captured LOS [打印本页] 作者: RealEstate_CFA 时间: 2013-4-8 21:17 标题: Reading 43 Topics not captured LOS
I know we’ve all seen this kind of issue before in other readings, but there seems (at least for me) to be a large amount of topics that don’t seemingly fit into the LOS. By my count the topics not anywhere in the los are:
2.3 Using swaps to create and manage the risk of structured notes
3.3 Using currnecy swaps to create and manage risk of a dual-currency bond
4.4 Reducing insider exposure
5.3 Synthetically removing (adding) a call feature in callable (noncallable) debt
Do you think it would be prudent to “have faith” that none of these topics will find their way on to the test. I know the right thing to do would be to know everything, but it just would be nice to know certain areas will not be on the test (such as these?) What are your thoughts on this…
The LOS FYI:
a. demonstrate how an interest rate swap can be used to convert a floating-rate
(fixed-rate) loan to a fixed-rate (floating-rate) loan;
b. calculate and interpret the duration of an interest rate swap;
c. explain the impact on cash flow risk and market value risk when a borrower
converts a fixed-rate loan to a floating-rate loan;
d. determine the notional principal value needed on an interest rate swap to
achieve a desired level of duration in a fixed-income portfolio;
e. explain how a company can generate savings by issuing a loan or bond in its
own currency and using a currency swap to convert the obligation into another
currency;
f. demonstrate how a firm can use a currency swap to convert a series of foreign
cash receipts into domestic cash receipts;
g. explain how equity swaps can be used to diversify a concentrated equity
portfolio, provide international diversification to a domestic portfolio, and alter
portfolio allocations to stocks and bonds;
h. demonstrate the use of an interest rate swaption 1) to change the payment
pattern of an anticipated future loan and 2) to terminate a swap.作者: BC_MBA_student 时间: 2013-4-8 21:17
In CFA exam history, some topics which were out of scope of LOSs were tested from time to time ! This is the gretest challenge to us !
