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Introduction to Fixed Income Qualification (IFIQ)
 
Download brochure The Introduction to Fixed Income Qualification (IFIQ) is an introductory level programme intended for anyone seeking a sound foundation in the analysis of fixed income securities.

The syllabus offers an overview of fixed income market products and participants and explains the key features of fixed income securities and interest rate swaps. In addition, it provides candidates with the basic quantitative tools they will need to begin analysing fixed income securities.


By completing the programme you will be able to:
  • Describe the key features of fixed income securities and markets
  • Calculate and interpret accrued interest, settlement amounts, bond price and yield, basis point value (BPV) and other quantitative measures used in fixed income markets
  • Understand how monetary policy and other factors affect interest rates
  • Understand how bonds can be used to express views about interest rates
  • Understand how interest rate swaps can be used to identify relative value opportunities in fixed income markets, including opportunities that involve bonds denominated in different currencies

Who should study the programme?

The qualification is intended for candidates who are either entering the fixed income market or who have limited experience and wish to develop a clear understanding of how the market works.

It serves as an essential introduction to fixed income markets in its own right, or as the basis for more advanced study on the ICMA Fixed Income Certificate (FIC) programme.

Candidates should have basic quantitative skills but no prior study or work experience is required.


Programme Recognition

Candidates who are successful in gaining the Introduction to Fixed Income Qualification qualify for 16.5 credit hours under the guidelines of the CFA Institute’s Continuing Education Programme.




Test your knowledge


Unsure if this is the right course for you? Click here to take a short sample exam.
Download brochureThe syllabus content is divided into several key topic areas:

1. Fixed income markets

2. Interest rates


3. Money market instruments

4. Bonds


5. Bond prices and accrued interest


6. Bond price and yield


7. Monetary policy and the yield curve


8. Interest rate risk and bond trading strategies


9. Introduction to interest rate derivatives and foreign exchange (FX) risk


10. Bond issuance, regulation and trading platforms


Click here to see the full syllabus.

The training is delivered over two and a half days with the exam taking place on the afternoon of day three.

The exam consists of 50 multiple choice questions which candidates have two hours to complete. In order to pass, candidates must answer a minimum of 30 questions correctly, with a score of 45 or more earning a distinction.

To prepare for the exam and assist candidates with the course content, end-of-day review sessions are held at the end of the first two days and prior to the exam on day three.
Details of the next seminars



LondonICE Education

13-15 March 2017

  
International Capital Market Association (ICMA) Limited
3rd Floor
23 College Hill
London EC4R 2RP
United Kingdom



Cost

2016: £1,875 for Members and £2,450 for non-members

2017: £1,950 for Members and £2,750 for non-members

Please note, candidates who register for a 2017 programme before Monday, 2nd January 2017 will pay the lower 2016 cost.


The course fee includes all lunches, coffee breaks and training materials.

Payment can be made by secure online credit card or by invoice.


Terms and conditions

Please click here to view our terms and conditions before registering.


Contact

Should you have any queries, please contact education@icmagroup.org.
 
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