NISM PMS Distributors ( NISM 21A ) Certification Exam Notes

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  • Credit Risk: Risk of issuer defaulting on bond payments.
  • Liquidity Risk: Difficulty selling bonds without price loss.
  • Bond Pricing: Reflects present value of future cash flows discounted at YTM.
  • Day Count Convention: Varies by market, affects interest calculations.
  • Bond Maturity: Time until principal repayment, impacts risk and return.

NISM PMS Distributors ( NISM 21A )

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