Exam 16: Managing Bond Portfolios

Discuss duration.Include in your discussion what duration measures,how duration relates to maturity,what variables affect duration,and how duration is used as a portfolio management tool (include some of the problems associated with the use of duration as a portfolio management tool).

(Essay)

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Question 81

Holding other factors constant,the interest-rate risk of a coupon bond is lower when the bond's:

(Multiple Choice)

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Question 82

Interest-rate risk is important to

(Multiple Choice)

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Question 83

Par value bond XYZ has a modified duration of 6.Which one of the following statements regarding the bond is true?

(Multiple Choice)

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Question 84

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Discuss duration.Include in your discussion what duration measures,how duration relates to maturity,what variables affect duration,and how duration is used as a portfolio management tool (include some of the problems associated with the use of duration as a portfolio management tool).

Holding other factors constant,the interest-rate risk of a coupon bond is lower when the bond's:

Interest-rate risk is important to

Par value bond XYZ has a modified duration of 6.Which one of the following statements regarding the bond is true?

The Investment Environment

Asset Classes and Financial Instruments

How Securities are Traded

Mutual Funds and Other Investment Companies

Introduction to Risk,return,and the Historical Record

Risk Aversion and Capital Allocation to Risky Assets

Optimal Risky Portfolios

Index Models

The Capital Asset Pricing Model

Arbitrage Pricing Theory and Multifactor Models of Risk and Return

The Efficient Market Hypothesis

Behavioral Finance and Technical Analysis

Empirical Evidence on Security Returns

Bond Prices and Yields

The Term Structure of Interest Rates

Options Markets: Introduction

Option Valuation

Futures Markets

Futures, swaps, and Risk Management

Macroeconomic and Industry Analysis

Equity Valuation Models

Financial Statement Analysis

Portfolio Performance Evaluation

International Diversification

Hedge Funds

The Theory of Active Portfolio Management

Investment Policy and the Framework of the CFA Institute Appendices

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