Korea Derivatives Investment Advisor study plan

Map every product category in Domain 1 (equity-linked, rates, FX, credit, commodity, structured/ELS-DLS) to its payoff profile and underlying risk factors

Derive forward and futures prices from cash-and-carry for a dividend-paying stock and a storable commodity, then list three real-world frictions that break parity

Reconstruct put-call parity for European options and use it to detect an arbitrage given three of the four prices

Explain intrinsic vs time value and identify the six inputs of Black-Scholes-Merton and the direction each moves the premium

Compute delta, gamma, vega, theta and rho for a vanilla option and interpret each as a hedge ratio or sensitivity per unit move

Build a payoff diagram for covered call, protective put, straddle, strangle and bull/bear spread, and state the market view each expresses

Calculate the Greeks of a simple structured note by decomposing it into a zero-coupon bond plus an option leg

Explain implied volatility, volatility smile and term structure, and why a single BSM volatility misprices out-of-the-money options

Apply delta hedging to a short option book and recompute the hedge after a 2% underlying move to demonstrate gamma re-hedging cost

Distinguish VaR, expected shortfall and stress testing, and compute a parametric 1-day 99% VaR for a two-asset portfolio

Diagnose basis risk in a hedge where the hedging instrument differs from the exposure in maturity, credit or underlying

Size a position using margin requirements and explain how leverage amplifies loss relative to posted collateral

Trace the order lifecycle on the KRX derivatives market from order entry through matching, clearing and settlement, and name the role of the exchange, clearing house and members

Explain contract specifications (multiplier, tick size, margin, daily price limit, final settlement) for KOSPI 200 futures and options

Summarize the key obligations under the Financial Investment Services and Capital Markets Act for derivatives intermediation, including suitability, explanation duty and record-keeping

Identify investor-protection rules on high-risk product sales, cooling-off and unsolicited solicitation as they apply to derivatives and structured notes

Apply the suitability and know-your-customer process to three client profiles and decide whether each derivative product is appropriate

Draft the core content of a mandatory product explanation for an ELS, covering payoff structure, principal risk, early redemption and fees

Classify five sales scenarios as compliant or non-compliant against conflict-of-interest and advertising rules, and justify each call

Explain the advisor's duty of care and the consequences of mis-selling under Korean investor-protection rules

Review Domain 1 weak spots by re-deriving payoffs for the product types missed on earlier self-tests

Compare exchange-traded vs OTC derivatives on counterparty risk, margin, standardization and price transparency

Explain how KRX derivatives trading hours, circuit breakers and margin calls interact with a client's strategy during volatile sessions

Describe the mechanics of a structured note issuance from underlying selection through hedging and distribution

Solve timed mixed problem sets spanning pricing, hedging and regulation at exam pace

Identify recurring error patterns from the timed sets and write a corrective rule for each

Re-derive the binomial option price for a two-step tree and check it against the BSM limit intuition

Re-explain the three most-missed regulatory items in your own words without notes

Run a final review of ethics and suitability scenarios, focusing on the judgment calls that distinguish compliant from non-compliant advice

Rehearse concise verbal explanations of complex derivatives to a non-expert client in under two minutes each

Consolidate all formula sheets, error logs and rule summaries into a single final revision pack

Complete a final timed mock and confirm every domain meets its target score