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Free CFA Fixed Income Practice Questions & Answers

900 exam-style Fixed Income questions. Pick your answer, hit Check answer, and see the worked solution — free to start, no signup.

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Question 91

The current yield is:

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Question 92

The effective annual yield (EAY) from a periodic rate r/m is:

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Question 93

The bond equivalent yield (BEY) for a discount instrument is:

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Question 94

The bank discount yield uses:

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Question 95

The credit spread is:

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Question 96

The swap fixed rate is computed as:

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Question 97

The TED spread equals:

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Question 98

The repo rate formula for implied financing cost is:

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Question 99

The haircut in a repo is:

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Question 100

The market conversion price of a convertible bond is:

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Question 101

The conversion value equals:

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Question 102

The option-adjusted spread (OAS) is:

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Question 103

In a binomial interest‑rate tree, the up‑move factor is defined as:

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Question 104

The risky bond price using survival probabilities is:

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Question 105

The forward induction formula in a tree is:

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Question 106

The survival‑weighted discount factor is:

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Question 107

What is a “benchmark spread”?

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Question 108

What is a “credit curve”?

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Question 109

What is “roll‑down return”?

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Question 110

What is a “butterfly trade”?

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Question 111

What is “yield volatility”?

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Question 112

What is “spread risk”?

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Question 113

What is “liquidity premium”?

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Question 114

What is a “term premium”?

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Question 115

What is a “floating‑rate note reset date”?

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Question 116

What is a “succession event” in CDS?

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Question 117

What is “extension risk”?

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Question 118

What is “contraction risk”?

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Question 119

What is a “reserve fund”?

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Question 120

What is “overcollateralization”?

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Free CFA Fixed Income Practice Questions & Answers

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