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AIWMI CCRA-L1 Exam Syllabus Topics:

SectionWeightObjectives
Topic 1: Industry & Company Analysis15%- Industry Structure & Competitive Position
- Business Risk & Operating Environment
- Management Quality & Corporate Governance
Topic 2: Financial Statement Analysis25%- Ratio Analysis & Profitability Metrics
- Cash Flow & Liquidity Analysis
- Quality of Earnings & Accounting Adjustments
- Understanding Financial Statements
Topic 3: Fixed Income Instruments & Valuation10%- Types of Debt Instruments
- Interest Rate & Credit Spread Risk
- Yield, Spread & Price Basics
Topic 4: Macroeconomics & Regulatory Framework10%- Legal & Regulatory Environment
- Macroeconomic Factors Impacting Credit
- Debt Covenants & Security Structures
Topic 5: Credit Risk Assessment & Methodologies25%- Credit Scoring & Probability of Default
- Recovery Rate & Loss Given Default
- Key Credit Risk Drivers
- Traditional Credit Analysis Models
Topic 6: Introduction to Credit Research & Markets15%- Structure of Global Debt & Credit Markets
- Credit Rating Agencies & Rating Scales
- Concepts of Credit & Credit Risk

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