NISM 21B Portfolio Managers Exam Notes

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  • Day Count Convention: Determines accrued interest, e.g., 30/360.
  • Money Market Convention: Uses actual/365 for T-bills.
  • Callable Bonds: Issuer can redeem early, affects yields.
  • Putable Bonds: Investor can sell back, reduces risk.
  • Zero-Coupon Bonds: No coupons, sold at discount.

NISM 21B Portfolio Managers

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