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Overview

Intermediate Swaps course overview

This Intermediate Swaps course walks you through the overview of swaps and the different types of swaps traded by investors and institutions for various purposes. We will compare the structure and uses of the different swaps, as well as to demonstrate the calculations of cash flows, pricing, and swap values using examples. We will define some of the most important terminology used in swap contracts such as swap rate, swap spread, and swap curve. We will also show you how swap contracts would look like on a Bloomberg screen and the key information one could find.

types of swaps

Intermediate Swaps learning objectives

Upon completing this course, you will be able to:

  • Understand the overall mechanics and structure of swaps, who and why use different types of swaps, as well as pricing, payments, and valuation of swaps
  • Compare and contrast the various types of swaps including:
    • Interest rate swaps
    • Currency swaps
    • Equity swaps
    • Commodity swaps
    • Basis swaps
    • Swaptions
    • Variance swaps
    • Credit default swaps (CDS)
  • Explain the structure and key features of each type of swaps
  • Identify the benefits and risks associated with each type of swaps
  • Calculate the price and values of each type of swaps

commodity swap valuation

Intermediate Swaps is an elective course of CFI’s CMSA® program

CFI’s Capital Markets & Securities Analyst (CMSA)® program covers all the basic, intermediate, and advanced topics about sales and trading, investment banking, and asset management. This program teaches you trading strategies used in the finance and capital markets industry. It is ideal for students who want to learn how to trade different asset classes. The program is completely online so you can take it at your own pace, from anywhere in the world.

Common career paths for students who take the CMSA® are Sales & Trading, Asset Management, Wealth Management, Treasury, Risk Management, and other capital markets careers.

Bloomberg Tenor Basis Swap

Who should take this CMSA® course?

This Intermediate Swaps course is perfect for anyone who would like to build up their understanding about capital markets. This course is designed to equip anyone who desires to begin a career in fixed income, equity, sales and trading, or other areas of finance.

Credit Default Swaps

Swaps Fundamentals

Get Started

Level 4

Approx 5.5h to complete

100% online and self-paced

Subscribe to get access to CMSA and other programs

From $497/year

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What you'll learn

Lesson
Multimedia
Exams
Files
Course Summary

Become a certified All Capital Markets & Securities Analyst (CMSA)® Courses

Swaps Fundamentals is part of the Capital Markets & Securities Analyst (CMSA)® certification, which includes 30 courses.

All Capital Markets & Securities Analyst (CMSA)® Courses
  • Skills Learned Trading strategies used in the finance and capital markets
  • Career Prep Work in capital markets, whether on the buy-side or the sell-side

Path to certification

Prep courses

5 courses from beginner to intermediate level.

01 Optional

Core courses

8 courses from beginner to intermediate level.

02 Required

Elective courses

17 courses in advanced and intermediate levels.

03 Required

Get certified

Submit your CMSA® checklist and order your certificate.

04 Required

Join our community

Get access to the Global Corporate Finance Society.

05 Optional

How the certification works

Capital Markets & Securities Analyst (CMSA)® courses are offered 100% online, allowing you the flexibility to start the Capital Markets & Securities Analyst (CMSA)® program anytime and learn when it’s most convenient for you.

The program is a part of the All Access Subscription, which includes all programs and courses.

CFI courses are designed by instructors with over 21 years of financial analyst training experience.

Students must complete all core and 7 elective courses (13 in total) and demonstrate mastery of the topics through successful completion of course materials, quizzes, and assessments.
Within 48 hours of program completion, your Blockchain Verified (CMSA)® Certification will be emailed to you.

What our students say

Important Subject
A difficult subject but well explained. I gained a lot of new knowledge in this course.

Love Manigsaca

great
good

Abdaullah AlHammad

Intermediate Swaps
Excellent content and excellent delivery. The course gave many practical insights about swap transactions.

venugopal rajamanuri

Frequently asked questions

Can I download the Excel files and financial modeling templates for the course?
Absolutely! All the files and templates needed in a course are available for download. Just look for a module that shows Downloadable Files within the course dashboard. See here for a visual guide on how to do this.
How long do I have to complete the courses?
Depending on your enrollment type, you will either have two years, yearly, or monthly access to your courses. All the courses are self-paced as well so you can take your time in learning without worrying about any deadlines. Click here to compare our available enrollment options.
Are CFI courses officially accredited?
CFI is accredited by the Better Business Bureau® (BBB) to maintain training standards, and by the CPA Institutions in Canada, and the National Association of State Boards of Accountancy (NASBA) in the USA. Most of our courses qualify for verified CPE credits for CPA charter holders. Please refer to this page to view all available CPE credits.
Are there any additional fees or costs?
No! The bundle price includes everything and there are no additional fees or charges to earn your digital certification. You can see our enrollment fees listed here.
What currency are your courses priced in?
All our online courses are priced in USD. We accept debit/credit cards (Visa, Mastercard, Amex), PayPal, and wire transfers for one-time course payments. If you wish to proceed with a wire transfer from your bank, please see instructions here.
How do I earn my certificates?
Students must complete all the video lessons, quizzes, and final assessments in each course. You can retake the assessments as many times as necessary until you reach an 80% passing grade. For more information on how to earn a course certificate, click HERE.
Will these courses help me advance my career?
Based on hundreds of reviews from thousands of students we know how CFI courses have helped so many people advance their finance careers. Our courses are designed to be extremely practical and simulate the experience of being trained as a professional financial analyst…the ultimate way to advance your career. For real-world examples and help delve even deeper into the course concepts, please look into our free career resources library.
Can I email the instructor if I have questions?
While the courses are designed mainly for self-study, we are happy to provide email assistance for general or technical support inquiries. The Full Immersion bundles include a premium email support function which allows you to communicate directly with in-house experts regarding course content. This is one of the key features that sets the Full Immersion bundle apart and makes it a worthwhile upgrade over the more affordable self-study bundle. You can compare more features in our bundles here.
What is the price of the subscription?
All Access Subscription is priced for $497 per year as Self-Study plan or $897 per year as Full Immersion plan.
What is included in the subscription?
All Access Subscription includes all courses from Financial Modeling & Valuation Analyst (FMVA)® Certification, Commercial Banking & Credit Analyst (CBCA)™ Certification, Capital Markets & Securities Analyst (CMSA)® Certification, Business Intelligence & Data Analyst (BIDA)™ Certification, Commercial Real Estate Finance Specialization and Environmental, Social & Governance (ESG) Specialization.
More Questions?
Please Email us and we'll be happy to answer any of your questions!
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