Level 4 · Advanced
The complete curve discipline, from construction to consequences. First the workbench: shapes and term premia, duration and convexity, interpolation judged by its forwards, the bootstrap recursion, Nelson-Siegel-Svensson, and the regulated long end. Then the research frontier — PCA factors, the HJM framework, ACM term premia on 21 years of real Polish data. And finally what the curves are for: the joint multicurve bootstrap in production, collateral and the law of one price, exposure simulation, the CVA machine, and benchmark fallbacks. Built from the author’s regulator and central-bank training decks, the Excel workbench, and the PhD research line behind this course. Assumes Levels 1-3.
Module test
Ready to certify the level? 20 questions drawn at random from a 30-question bank, 30 minutes on the clock, instant marked results with an explanation for every miss. Attempts are saved so you can come back and review.
Take the Level 4 test