CCM Debt Securities study guide
CCM Debt Securities · Work through your exam, one topic at a time.
The Certificate in Capital Markets (CCM) is a professional qualification offered in the capital markets space, and its Debt Securities module is the fixed income component of that programme. This independent study page is written for candidates who are preparing for the Debt Securities module and who want a clear, structured way to organise their revision. The module sits entirely within a single content area - debt securities - so your preparation should be built around one coherent body of knowledge rather than spread across unrelated topics. Candidates typically include new entrants to fixed income sales, trading, syndicate, origination and operations roles, as well as students and career-changers who want a recognised grounding in bond markets before applying for roles. Because this page is maintained by an independent study platform, it is not affiliated with, endorsed by, or operated by the awarding body, and no official syllabus weighting, question count, duration, pass mark or fee is reproduced here. Where the awarding body's own materials are the authoritative source, always check them directly before you book or sit the exam. Topics on this exam: Debt Securities. The CCM Debt Securities study guide has 1 section and about 490 words.
01Debt Securities: Instruments, Yield Conventions, and Portfolio Rules
The Debt Securities domain tests how a cash manager evaluates and uses short-term debt instruments in a corporate liquidity portfolio: instrument mechanics, yield quotation conventions, settlement, credit and liquidity analysis, tax treatment, and compliance with a written investment policy that typically caps maturities, minimum ratings, issuer concentration, and eligible instrument types. Treasury bills are pure discount securities of 52 weeks or less, backed by the full faith and credit of the U.S., exempt from state and local income tax, and traded in the deepest secondary market. Treasury notes and bonds pay semiannual coupons; notes run to 10 years, bonds beyond. Agency discount notes are GSE obligations: strong credit, but not the government's full faith and credit.
490 words, about 2 minMore study resources for CCM Debt Securities
- Practice questionsA corporate bond is issued at a price below its face value with no coupon payments.
- FlashcardsYield to maturity. The single discount rate that equates a bond's future coupon and principal cash flows to its current price, assuming coupons are reinvested at that same rate until maturity.
- Cheat sheetBond price equals the present value of all future coupon payments plus principal, discounted at the yield to maturity (YTM); price and yield move inversely.
- Key termsAccrued Interest. Interest that has built up on a bond since the last coupon payment date but has not yet been paid to the holder.
- Study planMap the full Debt Securities blueprint: list every subtopic (bond math, yield measures, spreads, duration/convexity, credit, structured products, money market, issuance/trading) and rate your confidence 1-5 on each to build a priority list.
- Common mistakesCandidates learn one YTM formula early and reuse it for every yield question because the inputs look similar; the distinction between the discount rate that equates price to all cash flows and the return realized under a call or put schedule is easy to blur under time pressure.
- Exam-day guideBring the original, unexpired ID with a signature and photo.