- CFA Exams
- 2025 Level II
- Topic 6. Fixed Income
- Learning Module 29. Credit Analysis Models
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Learning Outcome Statements PDF Download
| 1. Modeling Credit Risk and the Credit Valuation Adjustment explain credit scores and credit ratings; calculate the expected return on a bond given transition in its credit rating; | |
| 2. Credit Scores and Credit Ratings explain structural and reduced-form models of corporate credit risk, including assumptions, strengths, and weaknesses; | |
| 3. Structural and Reduced Form Credit Models calculate the value of a bond and its credit spread, given assumptions about the credit risk parameters; | |
| 4. Valuing Risky Bonds in an Arbitrage-Free Framework interpret changes in a credit spread; | |
| 5. Interpreting Changes in Credit Spreads explain the determinants of the term structure of credit spreads and interpret a term structure of credit spreads; | |
| 6. The Term Structure of Credit Spreads compare the credit analysis required for securitized debt to the credit analysis of corporate debt. | |
| 7. Credit Analysis for Securitized Debt describe credit default swaps (CDS), single-name and index CDS, and the parameters that define a given CDS product; |
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