FRM P1金融市场与产品重要知识点—债券的利息计算方法

金融市场与产品作为FRM P1考试当中占比百分之30的考试科目，可以说是我们备考的重中之重！正保会计网校的老师给大家整理了金融市场与产品科目里面的重要知识点，知识点搭配例题，帮助大家更好的吸收！今日一起来学习债券的利息计算方法吧！

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 ▶知识点：债券的利息计算方法◀ 

Accrued Interest，Clean& dirty price

Accrued Interest (AI)

Clean price: The price of a coupon bond not including any accrued interest. Immediately following each coupon payment, the clean price will equal the dirty price

Dirty price: A bond pricing quote referring to the price of a coupon bond that includes the present value of all future cash flows, including interest accruing on the next coupon payment

Dirtyprice= Cleanprice+ Accruedinterest

常考知识点：

1. 注意区分不同的债券品种计息方式不同，主要涉及到对计息时长的计算。

- 国债 actual/actual

- 公司债 30/360

- 货币市场票据actual/360

2. 可以画出时间轴来标记计息时长。

3. 注意区分债券价格是否包含应计利息。

例题：

A corporate bond in the U.S. pays a coupon of 10% per year. Payment dates are February 15 and July 15. What is the accrued interest on a USD 1.000 bond on the start of trading on April 1 in a leap year?
A.12.22
B.12.50
C.12.30
D.12.63

【正确答案】B

【答案解析】Whether it is a leap year or not makes no difference. The day count convention for corporate bonds is 30/360 so that it is always assumed that there are 30 days in a month. In this case, there are 45 days in the accrual period, the interest is USD 100 per year and the accrued interest(USD) is
（45/360）×10%×1,000=12.5

以上就是FRM P1金融市场与产品重要知识点-债券的利息计算方法的相关内容，后期小编会持续给大家更新相关重要知识点，小伙伴们可以关注【 备考经验 】栏目查看！