NISM 10A Investment Adviser Level 1 Notes

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  • Annuity: A series of equal cash flows received or paid at regular intervals.
  • Perpetuity: A stream of equal cash flows continuing indefinitely.
  • Cash Flow Timing: Earlier cash flows have higher present value than later ones due to time value principles.
  • Discount Rate Impact: Higher discount rates reduce the present value of future cash flows.
  • Compounding Frequency: More frequent compounding (e.g., monthly vs. yearly) increases future value.

NISM 10A NISM Investment Adviser Level 1

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