CFA Level 1 - Chapter 15: Derivatives
INTRODUCTION
Given their reputation as exotic, highly complex and specialized financial instruments, derivatives may be a somewhat intimidating topic. In reality, they have been in existence in simple forms for decades and the concept behind them is not difficult to understand.
For Level I of the CFA program, the majority of the learning outcome statements concern definitions or descriptions of the various types of securities and strategies that are currently in the marketplace, such as options, futures and swaps.

Remember that the CFA Level 1 exam is multiple choice. The calculations and diagrams that you will be required to know are fairly basic. Any time that you are asked to make a calculation concerning a derivative structure or trade, draw a diagram first. That way, you can visualize where the payments are going as well as the type of payments that will be made to each counterparty before following through with the calculation. 

The following tutorials will prime you for the topics discussed in this chapter:

Next: CFA Level 1 - What is a Derivative?

Table of Contents
1) CFA Level 1 - Chapter 15: Derivatives
2) CFA Level 1 - What is a Derivative?
3) CFA Level 1 - Common Characteristics of Futures and Forwards
4) CFA Level 1 - Fundamental Differences Between Futures and Forwards
5) CFA Level 1 - Forward Contracts
6) CFA Level 1 - Future Contracts
7) CFA Level 1 - Options: Calls and Puts
8) CFA Level 1 - Options: Basic Characteristics
9) CFA Level 1 - Swaps
10) CFA Level 1 - Purposes and Benefits of Derivatives
11) CFA Level 1 - Criticisms of Derivatives
12) CFA Level 1 - Arbitrage
13) CFA Level 1 - Forward Markets and Contracts: Settlement Procedures
14) CFA Level 1 - Terminating a Forward Contract Prior to Expiration
15) CFA Level 1 - End Users and Dealers
16) CFA Level 1 - Equity Forward Contracts
17) CFA Level 1 - Forward Contracts on Bonds
18) CFA Level 1 - Eurodollar Time Deposit Markets, LIBOR and Euribor
19) CFA Level 1 - Characteristics of Forward Rate Agreements (FRAs)
20) CFA Level 1 - Currency Forward Contracts
21) CFA Level 1 - Futures vs. Forwards
22) CFA Level 1 - Futures Markets Margin
23) CFA Level 1 - The Futures Trade Process
24) CFA Level 1 - Computing the Margin Balance for a Futures Account
25) CFA Level 1 - Closing and Terminating a Futures Position
26) CFA Level 1 - Other Types of Derivatives
27) CFA Level 1 - European Vs. American Options and Moneyness
28) CFA Level 1 - Exchange Traded Options
29) CFA Level 1 - Interest Rate Options vs. FRAs
30) CFA Level 1 - Interest Rate Caps and Floors
31) CFA Level 1 - Minimum and Maximum Values for Options
32) CFA Level 1 - Straddles and Strangles
33) CFA Level 1 - Option Prices and the Time to Expiration
34) CFA Level 1 - Put-Call Parity
35) CFA Level 1 - Effect of Cash Flows on Put-Call Parity and the Lower Bounds
36) CFA Level 1 - Effect of Cash Flows on Put-Call Parity and the Lower Bounds
37) CFA Level 1 - Swap Markets and Contracts
38) CFA Level 1 - Currency Swaps
39) CFA Level 1 - Interest Rate and Equity Swaps
40) CFA Level 1 - Managing Risk with Options Strategies: Long and Short Call and Put Positions
41) CFA Level 1 - Managing Risk with Options Strategies: Covered Calls and Protective Puts

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