NISM Series 12 Securities Markets Foundation Certification Exam Notes

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  • Debt Financing: Debt financing involves borrowing with fixed repayment schedules and interest costs.
  • Equity Characteristics: Equity investors share profits, bear losses, and have voting rights.
  • Debt Characteristics: Debt securities offer fixed returns, priority in liquidation, but no ownership.
  • Choosing Equity vs. Debt: Issuers choose based on cost, control, and repayment flexibility.
  • Hybrid Instruments: Hybrids combine equity and debt features, like convertible bonds.

NISM 12 Securities Markets Foundation

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