NISM 21B Portfolio Managers Exam Notes

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  • Bond Portfolio Risk: Interest rate, credit, liquidity risks.
  • Reinvestment Risk: Reinvesting coupons at lower rates.
  • Callable Bonds: Issuer redeems early, affects yields.
  • Putable Bonds: Investor sells back, reduces risk.
  • Zero-Coupon Bonds: No coupons, sold at discount.

NISM 21B Portfolio Managers

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