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ICMA HR0-002 Exam Syllabus Topics:

SectionWeightObjectives
Topic 1: Structured & Embedded Option Securities20%- Bonds with embedded call/put options
- Inflation-linked securities
- Convertible and exchangeable bonds
Topic 2: Interest Rate Derivatives25%- Interest rate swaps and options
- Valuation and risk management of derivatives
- Futures and forward rate agreements
Topic 3: Fixed Income Analysis & Valuation25%- Bond pricing and yield measures
- Interest rate risk and duration/convexity
- Term structure of interest rates
Topic 4: Portfolio & Risk Management15%- Fixed income portfolio construction
- Hedging interest rate and credit risk
- Regulatory and market conventions
Topic 5: Credit Analysis & Credit Derivatives15%- Credit default swaps (CDS)
- Securitization and structured credit
- Credit risk measurement and rating

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