CFA一级必备词汇词汇表

characterize illiquid timberland mezzanine drawdown directional quantitative commodity market opportunistic fixed income subdivision expertise lockup backfill survivorship management fee limited partner pension funds migrate effortless segmentation replicate tangible risk management due diligence fund of funds problematic vector monte carlo predetermine presumably pass through refinance burnout jumbo delinquency serve to a pool of mistime expiration breakeven point arbitrage eliminate speculation hedge swap clearinghouse lien malfeasance track record conservative untapped intellectual idiosyncratic dynamic notch substantial gilt reorganization secured creditor subordinate Recovery rate convexity theoretically duration investment horizon reserve fund conform Freddie Mac Fannie Mae recourse foreclosure prepayment provision Balloon payment lump rollover renegotiable hybrid adjustable fixed rate mortgage loan emerging market corporate bonds housing loan student loan administration sequential tranche waterfall auto loan originate repossess simplify passthrough interpolation Clean price accrued interest instantaneous repo exempt from syndicate on the run Private Placement grey market public offering interbank retail investor institutional investor contingent entitle parity embed lump-sum deferment call provision step-up inverse cap collar trustee sinking fund mortgage-backed securities eurobond affirmative trust deed semi-annual perpetual bond bondholder supranational issuer futile exploitable retractable grounded cease to justified unpredictable multistage capital gain differentiation life cycle bargaining power rivalry peer group susceptible cluster evolve overcapacity telecommunication health care staple notably shake-out embryonic entrant demographic top down sponsor Leveraged buyout onerous private equity seniority made up preference shares residual claim herd disposition fallacy gambler representative overconfidence behavioral behavioral finance deviate from anomaly data mining disprove persist simultaneously impediment market value substantially appraisal reconstitute constituent price index quotation opaque transactions costs underwritten gemstone hedge fund initial public offering IPO money market capital market primary market secondary market margin call maintenance margin initial margin in lieu short position long position entail carbon credit default swaps forward contract real estate unfunded unsophisticated insider trading predominant adverse selection moral hazard policyholder spread custodian securitize dissemination certificate of deposit tactical time horizon Asset Allocation Systematic Risk unsystematic aversion contained inefficient frontier venture capital buyout closed-end open-ended execution sovereign wealth fund mutual funds charitable ongoing portfolio management obsolete reinvestment creditor capital rationing rationing sequence mutually exclusive cannibalize externality