Spot markets
Level I
Markets in which assets are traded for immediate delivery.
CFA RESOURCE
CFA Glossary of Terms and Formulas
Use this glossary to search CFA terms, formulas, and finance concepts while you study. Browse alphabetically, search for a specific term, or review short definitions across the CFA Program.
This page is built for candidates preparing for CFA Level I, Level II, or Level III.
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Spot price
Level II
The current price of an asset or security. For commodities, the current price to deliver a physical commodity to a specific location or purchase and transport it away from a designated location.
Spot prices
Level I
The price of an asset for immediately delivery.
Spot rate
Level II
The interest rate that is determined today for a risk-free, single-unit payment at a specified future date.
Spot rates
Level I
A sequence of market discount rates that correspond to the cash flow dates; yields-to-maturity on zero-coupon bonds maturing at the date of each cash flow.
COMMON QUESTIONS
FAQs About KeyPoint Learning's CFA Glossary
What is a CFA glossary?
A CFA glossary is a reference list of terms, formulas, and finance concepts that appear across the CFA Program. It helps candidates review key ideas while studying for Level I, Level II, or Level III.
CFA Glossary
Does this glossary cover CFA Level I, Level II, and Level III?
This glossary is designed to support candidates across the CFA Program. Where level information is available, terms can be labeled by CFA Level I, Level II, or Level III.
CFA Glossary
Does this glossary include CFA formulas?
Yes, formula-related terms may be included in the glossary. For a more focused formula review, use the CFA Formula Sheet resource.
CFA Glossary
Should I memorize every CFA term?
No. It is better to understand important terms in context than to memorize every definition by itself. Focus on how each concept works, where it appears in the curriculum, and how it may be tested.
CFA Glossary
Where can I find more CFA study resources?
You can explore KeyPoint Learning’s CFA resources for study planning, calculator guidance, formulas, GIPS Standards, and CFA Program information.
CFA Glossary
KEEP BUILDING YOUR UNDERSTANDING
Explore More CFA Resources
Definitions are useful when you need a quick review. But CFA prep also requires structure, practice, and a clear plan for your exam window.
Use these resources to keep studying: