Browse CFA Level 2

Chapter 3: Yield Measures and Bond Pricing Basics

In this section

  • Yield to Maturity, Current Yield, and Other Measures
    Dive into key bond yield measures—Yield to Maturity, Current Yield, Yield to Call, and more—to master how each metric affects fixed-income valuation and exam-ready analysis.
  • Price-Yield Relationship and Bond Math
    Explore the inverse relationship between bond prices and yields, learn key bond pricing formulas, and understand how coupon frequency and market yields affect valuation. This comprehensive guide covers discount/premium bonds, duration insights, and practical examples for the CFA® Level II exam.
  • Accrued Interest and Full vs. Clean Price
    Learn the essential differences between clean and full bond prices, plus how accrued interest and day count conventions affect bond valuation and trading in real markets.
  • Practice Vignette: Comparing Yield Metrics
    A comprehensive scenario-driven exercise integrating yield measures, accrued interest, and price-yield relationships to reinforce essential bond pricing concepts.
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Chapter 2: Fixed Income Instruments Overview
Chapter 4: The Term Structure of Interest Rates