Objective of the Examination

The IFMP Fixed Income Securities Certification Exam covers the basic concepts of fixed income securities, financial intermediaries and their mechanisms, available instruments of fixed income securities and trading avenues, risks and returns.

Target Audience

IFMP Fixed Income Securities Certification Programme is for all the professionals dealing in fixed income securities in the capital market of Pakistan.

Syllabus Structure

The curriculum is divided into elements and these are broken down into a series of learning objectives. Each learning objective begins with one of the following prefixes: know, understand, be able to calculate andbe able to apply. These words indicate the different levels of skill to be tested. Learning objectives prefixed:

  • Know require the candidate to recall information such as facts, rules and principles
  • Understand require the candidate to demonstrate comprehension of an issue, fact, rule or principle.
  • Be able to calculate require the candidate to be able to use formulae to perform calculations.
  • Be able to apply require the candidate to be able to apply their knowledge to a given set of circumstances in order to present a clear and detailed explanation of a situation, rule or principle.

Examination Specification

Each examination paper is constructed from a specification that determines the weightings that will be given to each element. The specification is given below.

It is important to note that the numbers quoted may vary slightly from examination to examination as there is some flexibility to ensure that each examination has a consistent level of difficulty. However, the number of questions tested in each element will not change by more than plus or minus 2. This comprises of 100 multiple choice questions.

Element No.ElementsQuestions
1Introduction to Fixed Income Markets10
2Bonds - Features and Structure10
3Issuance, Trading and Funding10
4Fixed Income Instruments in Pakistan10
5Credit Analysis10
6Securitization10
7Derivatives in Fixed Income Securities 10
8Portfolio and Risk Management10
9Valuations20
Total100

Assessment Structure

This will be a 150 minutes examination of 100 multiple choice questions. All questions will carry equal marks. There will be no negative marking.

Summary Syllabus

To download the summary syllabus of IFMP Fixed Income Securities Certification Programme, please click here.