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Cliro
CFA® Level I - 2027 curriculum now available

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CFA LEVEL I · PRACTICE · FIXED INCOME

Question 4 of 10

A bond has a modified duration of 7.5 and convexity of 60. If its yield rises by 50 basis points, the estimated percentage price change is closest to:

  • ADecrease by approximately 4.1%
  • BDecrease by approximately 3.7%Correct
  • CIncrease by approximately 3.7%

Explanation

The duration effect is -7.5 × 0.005 = -3.75%. Positive convexity adds 0.5 × 60 × 0.005² = +0.08%, giving an estimated change of about -3.68%, closest to -3.7%.

Why you’re seeing this

Duration & Convexity is currently one of your highest-priority areas.

2,500+
practice questions
2
full mock exams
159
formula cards
2027
CFA® Level I curriculum

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Practice · Financial Statement Analysis

Question 7 of 10

Under IFRS, interest paid may be classified on the cash flow statement as operating or which other type of activity?

  • AOperating activities
  • BInvesting activities
  • CFinancing activities

Correct

IFRS permits interest paid to be classified as either operating or financing activity, provided the treatment is applied consistently.

Mock exam 1 · Session 1

1:52:14 remaining

Question 71 of 90

Flagged

An analyst observes a 3-year annual-pay bond priced at 98.42 with a 4% coupon. The bond's yield to maturity is closest to:

  • 4.24%
  • 4.58%
  • 4.91%

No feedback during the mock: answers stay hidden until both sessions are complete.

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Formula Gym

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Formula Gym · Fixed Income

12 of 159

Recall prompt

Approximate bond price change

Recall the duration and convexity approximation for a change in yield.

ΔP / P ≈ -DmodΔy + ½C(Δy)²

AgainAlmostKnew it

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Cliro · Next study recommendation

Current

What should I study next?

Exam
February 2027
Time available
8 hrs / week
Time remaining
137 days
Evidence
23 concepts tested
Review due
6 concepts

Recommended next

Fixed Income

Duration & Convexity

  • Below your average
  • High exam weight
  • Review due

10 questions

About 18 minutes

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Curriculum profile

Based on your answers

  • Fixed Income

    Duration & Convexity

    Strong

    18 evidence pointsLast tested 2 days ago

  • Financial Statement Analysis

    Cash Flow Analysis

    Developing

    10 evidence pointsLast tested 6 days ago

  • Derivatives

    Forward Commitments

    Needs work

    6 evidence pointsLast tested 9 days ago
  • Strong
  • Developing
  • Needs work
  • Not assessed

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