Estimate the credit spread是ACCA考试的内容吗？怎么去学习？

大家都知道，ACCA考试中的内容有很多，学员要想完全掌握课程的内容并不是很容易。因此找到适合自己的课程学习很是关键。ACCA知识点的学习是帮助学员更好理解课程的关键，Estimate the credit spread是ACCA考试的内容吗？怎么去学习？

掌握ACCA课程的内容，是帮助学员更好理解课程的关键。因此在学习课程的时候，学员可能会遇见这样那样的问题，重视课程的学习质量很必要。因此建议学员能够在备考的时候，有好的学习资料，网课是学员学习的基础，同时教材也是很关键的内容。Estimate the credit spread是ACCA P4的知识点内容，掌握其相关的内容，对于考试很有必要。

》》》想要参加ACCA图书+网课学习优惠活动点我在线咨询

The cost of a bond will depend on two factors:

1. The risk free rate derived from the yield curve for a bond of that specified duration 从一个指定时间的债券的收益率曲线得到无风险利率

The yield curve shows how the yield on government bonds vary according to the term of the borrowing.

戳：“各科必背定义+历年真题中文解析+20年习题册（PDF版）”

Normally it is upward sloping.向上陡坡 There are a number of explanations of the yield curve; these are not competing explanations, and at any one time all may be influencing the shape of the yield curve.

对于收益率曲线的形状，有很多解释，这些解释互不冲突，任何时候任一因素都会影响 yield curve 的形状。

1) Expectations theory 预期理论 – the curve reflects expectations that interest rates will rise in the future, so the government has to offer higher returns on long-term debt.

2) Liquidity preference theory 流动性偏好理论– the curve reflects the compensation that investors require higher returns for sacrificing liquidity on long-dated bonds.

3) Market segmentation theory 市场分割理论 – short-dated bonds tend to be more popular with banks and long-dated bonds are more popular with pension funds. If demand for bonds is higher in one of these markets the government can offer lower returns.

2. The credit risk premium – derived from the bond’s credit rating 根据信用评级来，一般题目会告知Cost of debt capital = (1 – tax rate)*(risk free rate +credit spread)

ACCA P阶段课程难度升级加大，学员在学习起来有一定的难度，要想有好的学习效果，学员必须要知道，怎么去学习，怎么去掌握知识点。ACCA知识点是帮助学员理解考试大纲的内容，也是考试中必不可少的知识运用。

如果你在ACCA课程学习方面遇见不同的困难，不妨与融跃老师在线联系或者添加老师微信（rongyuejiaoyu），让老师为你进行课程的解答。同时还可以试学融跃教育课程，找到适合自己的内容，更好的帮助你通 关考试。