9781119853275

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Hands-on practice with derivatives and derivative markets based on real-world scenarios

Derivatives Workbook provides the key component of effective learning—practice. Designed for both students and investment professionals, this companion workbook conveniently aligns with the Derivatives text chapter-by-chapter, offers brief chapter summaries to refresh your memory on key points before you begin working, and explicitly lays out the learning objectives so you understand the “why” of each problem. This workbook helps you:

Synthesize essential material from the Derivatives text using real-world applications
Understand the different types of derivatives and their characteristics
Delve into the various markets and their associated contracts
Examine the role of derivatives in portfolio management
Learn why derivatives are increasingly fundamental to risk management

CFA Institute is the world's premier association for investment professionals, and the governing body for CFA^® Program, CIPM^® Program, CFA Institute ESG Investing Certificate, and Investment Foundations^® Program. Those seeking a deeper understanding of the markets, mechanisms, and use of derivatives will value the level of expertise CFA Institute brings to the discussion as well as the extra practice delivered in Derivatives Workbook based on real scenarios investors face every day.

CFA Institute is the global association of investment professionals that sets the standard for professional excellence and credentials. The organization is a champion for ethical behavior in investment markets and a respected source of knowledge in the global financial community. The end goal: to create an environment where investors’ interests come first, markets function at their best, and economies grow. CFA Institute has more than 170,000 members in 160+ countries and territories, including 163,000 CFA^®; charterholders, and 150+ member societies. For more information, visit www.cfainstitute.org.

PART I Learning Objectives, Summary Overview, and Problems

Chapter 1 Derivative Markets and Instruments 3

Learning Outcomes 3

Summary Overview 3

Problems 5

Chapter 2 Basics of Derivative Pricing and Valuation 11

Learning Outcomes 11

Summary Overview 12

Problems 13

Chapter 3 Pricing and Valuation of Forward Commitments 19

Learning Outcomes 19

Summary Overview 19

Problems 22

Chapter 4 Valuation of Contingent Claims 31

Learning Outcomes 31

Summary Overview 32

Problems 34

Chapter 5 Credit Default Swaps 41

Learning Outcomes 41

Summary Overview 41

Problems 42

Chapter 6 Introduction to Commodities and Commodity Derivatives 47

Learning Outcomes 47

Summary Overview 47

Problems 49

Chapter 7 Currency Management: An Introduction 55

Learning Outcomes 55

Summary Overview 55

Problems 58

Chapter 8 Options Strategies 69

Learning Outcomes 69

Summary Overview 70

Problems 71

Chapter 9 Swaps, Forwards, and Futures Strategies 79

Learning Outcomes 79

Summary Overview 79

Problems 80

Chapter 10 Introduction to Risk Management 89

Learning Outcomes 89

Summary Overview 89

Problems 91

Chapter 11 Measuring and Managing Market Risk 93

Learning Outcomes 93

Summary Overview 94

Problems 96

Chapter 12 Risk Management for Individuals 105

Learning Outcomes 105

Summary Overview 106

Problems 107

Chapter 13 Case Study in Risk Management: Private Wealth 115

Learning Outcomes 115

Summary Overview 115

Problems 116

Chapter 14 Integrated Cases in Risk Management: Institutional 119

Learning Outcomes 119

PART II SOLUTIONS

Chapter 1 Derivative Markets and Instruments 123

Solutions 123

Chapter 2 Basics of Derivative Pricing and Valuation 133

Solutions 133

Chapter 3 Pricing and Valuation of Forward Commitments 139

Solutions 139

Chapter 4 Valuation of Contingent Claims 149

Solutions 149

Chapter 5 Credit Default Swaps 153

Solutions 153

Chapter 6 Introduction to Commodities and Commodity Derivatives 157

Solutions 157

Chapter 7 Currency Management: An Introduction 161

Solutions 161

Chapter 8 Options Strategies 175

Solutions 175

Chapter 9 Swaps, Forwards, and Futures Strategies 181

Solutions 181

Chapter 10 Introduction to Risk Management 189

Solutions 189

Chapter 11 Measuring and Managing Market Risk 191

Solutions 191

Chapter 12 Risk Management for Individuals 197

Solutions 197

Chapter 13 Case Study in Risk Management: Private Wealth 203

Solutions 203

What is included with this book?

The New copy of this book will include any supplemental materials advertised. Please check the title of the book to determine if it should include any access cards, study guides, lab manuals, CDs, etc.

The Used, Rental and eBook copies of this book are not guaranteed to include any supplemental materials. Typically, only the book itself is included. This is true even if the title states it includes any access cards, study guides, lab manuals, CDs, etc.

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Derivatives Workbook

Derivatives Workbook

1119853273

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