FRM Level I: Financial Markets and Products II
The fourth course of the FRM Level I series, covering the last nine official 2026 GARP readings of Financial Markets and Products — the largest area on the exam at 30%. Options markets and the no-arbitrage properties of options, trading strategies and exotic options, interest rates, duration and convexity, corporate bonds, mortgages and mortgage-backed securities, interest rate futures, and swaps. Taught on one banking group and one question — who holds the option, and did anyone price it — with every problem stated in exam form and solved by hand on a BA II Plus before any code runs.
- Level: intermediate
- Duration: 5 weeks
- 9 sections
- Price: $29.99
Topics: FRM, FRM Part I, financial markets and products, options, moneyness, put-call parity, option bounds, early exercise, warrants, convertible bonds, employee stock options, covered call, protective put, principal protected notes, spreads, straddle, strangle, exotic options, barrier options, variance swaps, static replication, SOFR, repo, zero curve, bootstrapping, forward rates, FRA, duration, convexity, DV01, term structure, corporate bonds, high-yield bonds, recovery rate, default rate, mortgages, MBS, CPR, prepayment, dollar roll, OAS, day count, Treasury futures, conversion factor, cheapest to deliver, duration hedge, interest rate swaps, currency swaps, risk management, BA II Plus
What's inside
- FRM Level I: Financial Markets and Products II
- Chapter 1: Options Markets and the Properties of Options
- Chapter 2: Option Trading Strategies and Exotic Options
- Chapter 3: Properties of Interest Rates
- Chapter 4: Corporate Bonds
- Chapter 5: Mortgages and Mortgage-Backed Securities
- Chapter 6: Interest Rate Futures
- Chapter 7: Swaps
- Chapter 8: Financial Markets and Products II Practice Exam