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ICMA HR0-002 Exam Syllabus Topics:
| Section | Weight | Objectives |
|---|---|---|
| Topic 1: Structured & Embedded Option Securities | 20% | - Bonds with embedded call/put options - Inflation-linked securities - Convertible and exchangeable bonds |
| Topic 2: Interest Rate Derivatives | 25% | - Interest rate swaps and options - Valuation and risk management of derivatives - Futures and forward rate agreements |
| Topic 3: Fixed Income Analysis & Valuation | 25% | - Bond pricing and yield measures - Interest rate risk and duration/convexity - Term structure of interest rates |
| Topic 4: Portfolio & Risk Management | 15% | - Fixed income portfolio construction - Hedging interest rate and credit risk - Regulatory and market conventions |
| Topic 5: Credit Analysis & Credit Derivatives | 15% | - Credit default swaps (CDS) - Securitization and structured credit - Credit risk measurement and rating |
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