FRM Part 1 Financial Markets and Products

Contents
	Reading 25
	Banks
		Exam Focus
		Module 25.1: Banks
		Key Concepts
		Answer Key for Module Quizzes
	Reading 26
	Insurance Companies and Pension Plans
		Exam Focus
		Module 26.1: Insurance Companies and Pension Plans
		Key Concepts
		Answer Key for Module Quizzes
	Reading 27
	Fund Management
		Exam Focus
		Module 27.1: Mutual Funds and Exchange-Traded Funds
		Module 27.2: Hedge Funds
		Key Concepts
		Answer Key for Module Quizzes
	Reading 28
	Introduction to Derivatives
		Exam Focus
		Module 28.1: Derivatives Markets and Securities
		Module 28.2: Derivatives Traders
		Key Concepts
		Answer Key for Module Quizzes
	Reading 29
	Exchanges and OTC Markets
		Exam Focus
		Module 29.1: Exchange-Traded Derivatives
		Module 29.2: Over-the-Counter Derivatives
		Key Concepts
		Answer Key for Module Quizzes
	Reading 30
	Central Clearing
		Exam Focus
		Module 30.1: Principles of Central Clearing
		Module 30.2: Risks Faced by Central Counterparties
		Key Concepts
		Answer Key for Module Quizzes
	Reading 31
	Futures Markets
		Exam Focus
		Module 31.1: Futures Characteristics
		Module 31.2: Futures Markets
		Key Concepts
		ANSWER KEY FOR MODULE QUIZZES
	Reading 32
	Using Futures for Hedging
		Exam Focus
		Module 32.1: Principles of Hedging
		Module 32.2: Hedging With Stock Index Futures
		Key Concepts
		ANSWER KEY FOR MODULE QUIZZES
	Reading 33
	Foreign Exchange Markets
		Exam Focus
		Module 33.1: Foreign Exchange Quotes and Risks
		Module 33.2: Interest Rates, Inflation, and Exchange Rates
		Key Concepts
		ANSWER KEY FOR MODULE QUIZZES
	Reading 34
	Pricing Financial Forwards and Futures
		Exam Focus
		Module 34.1: Forward and Futures Prices
		Key Concepts
		ANSWER KEY FOR MODULE QUIZZES
	Reading 35
	Commodity Forwards and Futures
		Exam Focus
		Module 35.1: Fundamentals of Commodities
		Module 35.2: Pricing Commodity Forwards
		Key Concepts
		Answer Key for Module Quizzes
	Reading 36
	Options Markets
		Exam Focus
		Module 36.1: Option Types, Positions, and Underlying Assets
		Module 36.2: Option Specification and Trading
		Key Concepts
		ANSWER KEY FOR MODULE QUIZZES
	Reading 37
	Properties of Options
		Exam Focus
		Module 37.1: Option Pricing Factors
		Module 37.2: Upper and Lower Option Pricing Bounds
		Key Concepts
		ANSWER KEY FOR MODULE QUIZZES
	Reading 38
	Trading Strategies
		Exam Focus
		Module 38.1: Protective Puts, Covered Calls, and Principal Protected Notes
		Module 38.2: Option Spread Strategies
		Module 38.3: Option Combination Strategies
		Key Concepts
		ANSWER KEY FOR MODULE QUIZZES
	Reading 39
	Exotic Options
		Exam Focus
		Module 39.1: Exotic Option Development
		Module 39.2: Types of Exotic Options
		Key Concepts
		ANSWER KEY FOR MODULE QUIZZES
	Reading 40
	Properties of Interest Rates
		Exam Focus
		Module 40.1: Types of Interest Rates
		Module 40.2: Spot Rates, Forward Rates, and Forward Rate Agreements
		Module 40.3: Duration and Convexity
		Key Concepts
		ANSWER KEY FOR MODULE QUIZZES
	Reading 41
	Corporate Bonds
		Exam Focus
		Module 41.1: Corporate Bond Fundamentals and Types
		Module 41.2: Credit Risk, Event Risk, and High-Yield Bonds
		Key Concepts
		ANSWER KEY FOR MODULE QUIZZES
	Reading 42
	Mortgages and Mortgage-Backed Securities
		Exam Focus
		Module 42.1: Mortgage Loans
		Module 42.2: Mortgage-Backed Securities
		Module 42.3: Prepayment Modeling
		Key Concepts
		ANSWER KEY FOR MODULE QUIZZES
	Reading 43
	Interest Rate Futures
		Exam Focus
		Module 43.1: Day Count Conventions and Quotations
		Module 43.2: Treasury Bond and Eurodollar Futures
		Module 43.3: Duration-Based Hedging
		Key Concepts
		ANSWER KEY FOR MODULE QUIZZES
	Reading 44
	Swaps
		Exam Focus
		Module 44.1: Mechanics of Interest Rate Swaps
		Module 44.2: Valuation of Interest Rate Swaps
		Module 44.3: Other Types of Swaps
		Key Concepts
		ANSWER KEY FOR MODULE QUIZZES
	Index