Derivatives (CFA Program Curriculum 2026 • Level I • Volume 7)

Test for Learning Module 1 Derivative Instrument and Derivative Market Features

Test for Learning Module 2 Forward Commitment and Contingent Claim Features and Instruments

Test for Learning Module 3 Derivative Benefits, Risks, and Issuer and Investor Uses

Test for Learning Module 4 Arbitrage, Replication, and the Cost of Carry in Pricing Derivatives

Test for Learning Module 5 Pricing and Valuation of Forward Contracts and for an Underlying with Varying Maturities

Test for Learning Module 6 Pricing and Valuation of Futures Contracts

Test for Learning Module 7 Pricing and Valuation of Interest Rates and Other Swaps

Test for Learning Module 8 Pricing and Valuation of Options

Test for Learning Module 9 Option Replication Using Put–Call Parity

Test for Learning Module 10 Valuing a Derivative Using a One-Period Binomial Model