Interest Rate Derivative Test details

Duration: 120 minutes

No. of questions: 60

Maximum marks: 100, Passing marks: 50 (50%); There is no negative marking in this module.

Certificate validity: For successful candidates, certificates are valid for 5 years from the test date.

Interest Rate Derivative Fees

Module Fees GST @ 18% Total Fees
1700 306 2006

 Total Fees : Rs.2006/- (Rupees Two Thousand and Six Only). inclusive of GST.


Interest Rate Derivatives

Interest rate risk management is becoming increasingly important not just for the financial sector, but for the household sectors as well. Interest rate derivative products are the primary instruments available to manage such risks. Interest Rate Derivatives: A Beginner’s Module aims at creating a better understanding of the concepts underlying the money market and giving insights into the motives of and operations related to the trading of interest rate derivatives.”

Who will benefit Interest Rate Derivative course?

  • Students
  • Teachers
  • Employees of Banks, Insurance Companies”
  • Primary Dealers
  • Employees of Brokers/Sub-Brokers
  • Anybody having interest in the Indian money market

Why should one take this course?

  • To understand the concept of money market
  • To understand the interest rate derivatives as a risk management tool


CHAPTER 1 : Interest Rates and Time Value Of Money
  • Introduction;
  •  Factors affecting the level of in erest rate;
  •  Impact and classification of interest rate and Present value,
  • Future value and Discount factor.
CHAPTER : 2 Money and Fixed Income Markets
  • Money markets and Fixed income markets.
CHAPTER 3 : Government Bonds
  • Introduction to and Characteristics of Bonds;
  • Concept of yield;
  •  Relationship between bond price and interest rate;
  • Repo and cost of funding and other bond terminology.
CHAPTER 4 : Interest Rate Derivatives
  • OTC Derivatives; Exchange traded contracts and key terminology offutures
CHAPTER 5 :Interest Rate Futures (IRF) in India
  • Interest rate futures;
  • Rationale;
  • Contract specifications;
  • Settlement and Risk Management.
CHAPTER 6: An Explanation of Key Concepts in IRF
  • Why a notional bond is being used as underlying;
  • Conversion factor;
  • Invoice price;
  • Cheapest to deliver bond;
  • Bond basis.
CHAPTER 7: Applications and Trading of Interest Rate Futures
  • Participants in the IRF market;
  • Hedging applications of interest rate derivatives;
  • Speculation and Arbitrage strategy.



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