Financial Markets: A Comprehensive Overview

20 Credits: Finance


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Financial Markets: A Comprehensive Overview

Course Level
CPE Credits

20 Credits: Finance

Course Description

Financial Markets: A Comprehensive Overview is an essential course for finance and accounting professionals seeking to deepen their understanding of the global economic system. This course offers a detailed exploration of the major financial markets, including money, bond, stock, mortgage, foreign currency, and derivatives markets. The benefits are substantial: you will learn to identify different financial instruments and transactions, understand the impact of interest rates and monetary policy, and calculate financial figures like yield-to-maturity and mortgage equity. Additionally, the course delves into understanding financial risks and the role of the Federal Reserve System, providing practical knowledge that can be applied in real-world financial scenarios. This comprehensive overview is invaluable for professionals looking to enhance their expertise in financial markets and make informed decisions in their respective fields.

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Learning Objectives

Upon successful completion of this course, participants will be able to:

Chapter 1

  • Identify financial markets and the transactions that take place in them
  • Cite how the efficient market hypothesis is used
  • Identify the various types financial intermediaries
  • Identify characteristics of capital and money markets

Chapter 2

  • Identify how a bond’s yield-to-maturity impacts how it is traded
  • Compare default risk, liquidity, and income tax considerations of different types of financial instruments
  • Identify various yield curve shapes and the theories behind them

Chapter 3

  • Cite the role that the Federal Reserve System in influencing interest rates and setting requirements and regulations
  • Identify the tools used by the Fed to conduct its monetary policy and explain how they impact the U.S. money supply
  • Identify how reserve deficiencies are calculated

Chapter 4

  • Identify the characteristics of the money markets
  • Identify the types of financial instruments that exist and transactions that occur in the money markets
  • Calculate interest income and payments for money market transactions

Chapter 5

  • Cite the primary characteristics the bond market
  • Identify terms and provisions set by bond issuers
  • Identify how bonds are rated
  • Define and explain terms related to bonds such as rate, bid, ask, and repurchase
  • Identify the unique attributes of Treasury, municipal, and corporate bonds
  • Differentiate between common and preferred stock
  • Differentiate between various stock markets and exchanges

Chapter 6

  • Calculate equity in a mortgage loan
  • Identify rules regarding mortgage insurance
  • Identify the various types of mortgage loans and the roles of agents and financial institutions play in the mortgage-lending process
  • Define default risk
  • Define terms related to mortgage-backed securities
  • Identify liquidity risk in various financial instruments

Chapter 7

  • Identify the characteristics of and terminology used in foreign exchange markets
  • Calculate direct and indirect foreign exchange quotes
  • Identify how economic factors influence foreign exchange rates
  • Define foreign exchange spot and forward contracts
  • Calculate payments for foreign exchange spot and forward contracts

Chapter 8

  • Define the various types of risk that impact financial markets
  • Identify ways to mitigate risks associated with financial markets
  • Identify instruments traded in derivatives markets
  • Identify the characteristics of forwards, futures, swaps, and options
  • Compare futures contracts and forward agreements
  • Compare credit default swaps, currency swaps, interest rate swaps, and equity swaps
  • Define terms related to option contracts
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Course Specifics

Course ID
Revision Date
September 12, 2022

There are no prerequisites.

Advanced Preparation


Number of Pages

Compliance Information

NASBA Provider Number: 103220

CMA Notice: Western CPE makes every attempt to maintain our CMA CPE library, to ensure a course meets your continuing education requirements please visit Insitute of Management Accountants (IMA)

CFP Notice: Not all courses that qualify for CFP® credit are registered by Western CPE. If a course does not have a CFP registration number in the compliance section, the continuing education will need to be individually reported with the CFP Board. For more information on the reporting process, required documentation, processing fee, etc., contact the CFP Board. CFP Professionals must take each course in it’s entirety, the CFP Board DOES NOT accept partial credits for courses.

Meet The Experts

Michael J. Walker Headshot

Michael J. Walker, CPA, is based in New England and has decades of accounting experience in the financial services, information technology services, and construction industries. He has an extensive technical accounting background that includes hands-on experience with U.S. GAAP and International Financial Reporting Standards (IFRS). His expertise includes accounting for financial instruments, securitizations, and other banking products. He graduated from Bentley University with a BS in finance and an MS in accountancy.