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Archive Spring 2012: Updates – Advanced Portfolio Management (APM) Exam

Mar. 26, 2012

  • There is a contradiction between two readings regarding the definition of the dollar duration (DV01) of a portfolio. The definition in Study Note V-C191-11 (Excerpts from Fixed Income Securities: Tools for Today’s Markets) in formula (5.26) on Page 110 is correct. The definition in Managing Investment Portfolios: A Dynamic Process on Page 351 is not correct. For a portfolio, the dollar duration is the sum of the dollar durations of the individual securities.

 

Feb. 16, 2012

  • The case study is now available.

 

Jan. 03, 2012

  • Study note V-C206-12 errata: On pages 23 and 28 the symbols "./." should be minus signs.