Schweser Academic Prep Provider – Fixed Income 2026

Overview

Primary study material for CFA Level 1 Fixed Income. Covers 19 modules spanning instrument features, valuation, risk measures, credit analysis, and securitization.

Module Index

Module	Title	Pages	LOS
M01	FI Instrument Features	p.3–39	1.a–1.b
M02	FI Cash Flows and Types	p.40–102	2.a–2.b
M03	FI Issuance and Trading	p.103–130	3.a–3.c
M04	FI Markets for Corporate Issuers	p.131–173	4.a–4.b
M05	FI Markets for Government Issuers	p.174–194	5.a–5.b
M06	FI Bond Valuation: Prices and Yields	p.195–226	6.a–6.c
M07	Yield and Yield Spread Measures for Fixed-Rate Bonds	p.227–243	7.a–7.b
M08	Yield and Yield Spread Measures for Floating-Rate Instruments	p.244–254	8.a–8.b
M09	Term Structure of Interest Rates: Spot, Par and Forward Curves	p.255–274	9.a–9.c
M10	Interest Rate Risk and Return	p.275–307	10.a–10.c
M11	Yield-Based Bond Duration Measures and Properties	p.308–328	11.a–11.b
M12	Yield-Based Bond Convexity and Portfolio Properties	p.329–351	12.a–12.c
M13	Curve-Based and Empirical FI Risk Measures	p.352–371	13.a–13.d
M14	Credit Risk	p.372–405	14.a–14.d
M15	Credit Analysis for Government Issuers	p.406–419	15.a
M16	Credit Analysis for Corporate Issuers	p.420–438	16.a–16.c
M17	FI Securitization	p.439–453	17.a–17.b
M18	ABS Instrument and Market Features	p.454–474	18.a–18.d
M19	MBS Instrument and Market Features	p.475+	19.a–19.d

Topics Covered

1. Instrument Features & Cash Flows (M01–M02): Bond characteristics, coupon structures, repayment mechanisms
2. Markets & Issuance (M03–M05): Primary/secondary markets, corporate and government issuers
3. Valuation & Yields (M06–M09): Bond pricing, yield measures, term structure
4. Risk Measures (M10–M13): Duration, convexity, curve-based risk
5. Credit Analysis (M14–M16): Credit risk, government and corporate credit analysis
6. Securitization (M17–M19): ABS, MBS, securitization structures