Level 3: mixed practice
Each question is one of the ten skills of Level 3: compounding, a rate converted between frequencies, a bond price, a zero rate from a bond price, a forward rate, an FRA’s value, a swap payment, a swap’s value at or between payment dates, or comparative advantage. As in an exam, you also have to choose the right rule. You master the skill when you get three right in a row, with at least one right answer for each of the ten.
Mixed practice:
After a wrong answer, the lesson for it is one click away: compounding, converting rates, bond price, zero rates from bond prices, forward rates, the value of an FRA, swap payments, swap value, swaps between payment dates and comparative advantage.
Concept check: true or false
Exams also ask about ideas, with no numbers. Decide whether each statement is true or false, and you will see why after each answer.