2025 CFA Level I Exam: Topic 6. Fixed Income - Learning Module 13. Curve-Based and Empirical Fixed-Income Risk Measures

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	1. Curve-Based Interest Rate Risk Measures explain why effective duration and effective convexity are the most appropriate measures of interest rate risk for bonds with embedded options calculate the percentage price change of a bond for a specified change in benchmark yield, given the bond's effective duration and convexity
	2. Key-Rate Durations define key rate duration and describe its use to measure price sensitivity of fixed-income instruments to benchmark yield curve changes
	3. Empirical Duration describe the difference between empirical duration and analytical duration

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