{"id":10783,"date":"2026-09-22T06:00:00","date_gmt":"2026-09-21T21:00:00","guid":{"rendered":"https:\/\/triumphmind.com\/cfa\/2026\/09\/22\/cfa-l1-fi-lm18\/"},"modified":"2026-09-22T07:03:28","modified_gmt":"2026-09-21T22:03:28","slug":"cfa-l1-fi-lm18","status":"publish","type":"post","link":"https:\/\/triumphmind.com\/cfa\/2026\/09\/22\/cfa-l1-fi-lm18\/","title":{"rendered":"\u3010CFA\u00ae\ufe0e L1 Fixed Income LM18\u3011Asset-Backed Security (ABS) Instrument and Market Features \u3092\u8981\u70b9\u89e3\u8aac\uff5c\u30ab\u30d0\u30fc\u30c9\u30fb\u30dc\u30f3\u30c9\u30fb\u4fe1\u7528\u88dc\u5b8c\u30fb\u30af\u30ec\u30b8\u30c3\u30c8\u30fb\u30ab\u30fc\u30c9\u50b5\u6a29ABS\u30fbCDO"},"content":{"rendered":"<style>\n.cfalm-los{counter-reset:los;list-style:none;padding:0!important;margin:1em 0!important}\n.cfalm-los li{border:1px solid #d5d9e3;border-left:4px solid #172152;border-radius:4px;padding:.8em 1em!important;margin:0 0 .8em!important;background:#fff}\n.cfalm-los li::before{display:none!important;content:none!important}\n.cfalm-los .ja{display:block;font-weight:bold;color:#172152;line-height:1.6}\n.cfalm-los .en{display:block;font-size:.85em;color:#667;margin-top:.3em;line-height:1.5;word-break:normal!important;overflow-wrap:anywhere}\n.cfalm-sum{background:#f6f7fb;border-radius:6px;padding:1em 1.2em!important;margin:1em 0!important;list-style:none!important}\n.cfalm-sum li{position:relative;margin:.4em 0!important;padding:0 0 0 1.1em!important;line-height:1.7;list-style:none!important}.cfalm-sum li::before{content:\"\"!important;display:block!important;position:absolute!important;left:0!important;top:.7em!important;width:6px!important;height:6px!important;border-radius:50%!important;background:#172152!important;border:none!important;transform:none!important}\n.cfalm-f{background:#f6f7fb;border-left:4px solid #172152;padding:.7em 1em;margin:.8em 0;font-family:\"Menlo\",\"Consolas\",monospace;font-size:.95em;overflow-x:auto}\n.cfalm-nav{background:#f6f7fb;padding:1em 1.2em;border-radius:6px;margin:1em 0;word-break:normal;overflow-wrap:anywhere}\n<\/style>\n<div class=\"box05\">\n<p>Learning Module 18\u300cAsset-Backed Security (ABS) Instrument and Market Features\uff08\u8cc7\u7523\u62c5\u4fdd\u8a3c\u5238\uff08ABS\uff09\uff09\u300d\u306f\u3001\u30ab\u30d0\u30fc\u30c9\u30fb\u30dc\u30f3\u30c9\u306e\u7279\u5fb4\u3068\u30ea\u30b9\u30af\u304a\u3088\u3073\u4ed6\u306eABS\u3068\u306e\u9055\u3044\u3001\u8a3c\u5238\u5316\u3067\u4f7f\u308f\u308c\u308b\u4fe1\u7528\u88dc\u5b8c\u306e\u69cb\u9020\u3001\u30aa\u30fc\u30c8\u30fb\u30ed\u30fc\u30f3\u3084\u30af\u30ec\u30b8\u30c3\u30c8\u30fb\u30ab\u30fc\u30c9\u50b5\u6a29\u306a\u3069\u306e\u975e\u30e2\u30fc\u30b2\u30fc\u30b8ABS\u306e\u7a2e\u985e\u3068\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u30fb\u30ea\u30b9\u30af\u3001\u305d\u3057\u3066\u50b5\u52d9\u62c5\u4fdd\u8a3c\u5238\uff08CDO\uff09\u306e\u4ed5\u7d44\u307f\u3068\u30ea\u30b9\u30af\u3092\u6271\u3046\u5358\u5143\u3067\u3059\u3002<\/p>\n<p>\u672c\u8a18\u4e8b\u3067\u306f\u3001\u6700\u65b0\u7248\u30ab\u30ea\u30ad\u30e5\u30e9\u30e0\u306eLOS\uff08Learning Outcome Statement\uff09\u3068\u3001\u3053\u306e\u5358\u5143\u306e\u91cd\u8981\u8ad6\u70b9\u3092\u65e5\u672c\u8a9e\u3067\u6574\u7406\u3057\u307e\u3057\u305f\u3002<\/p>\n<\/div>\n<h2>LM18\u306eLOS\uff08\u5b66\u7fd2\u76ee\u6a19\uff09<\/h2>\n<p>LOS\u306f\u3001\u3053\u306e\u5358\u5143\u3067\u300c\u3067\u304d\u308b\u3088\u3046\u306b\u306a\u308b\u3079\u304d\u3053\u3068\u300d\u3068\u3057\u3066\u793a\u3055\u308c\u3066\u3044\u308b\u5b66\u7fd2\u76ee\u6a19\u3067\u3059\u3002LM18\u306b\u306f4\u3064\u306eLOS\u304c\u3042\u308a\u307e\u3059\u3002<\/p>\n<ol class=\"cfalm-los\">\n<li><span class=\"ja\">LOS 1\uff1a\u30ab\u30d0\u30fc\u30c9\u30fb\u30dc\u30f3\u30c9\u306e\u7279\u5fb4\u3068\u30ea\u30b9\u30af\u3001\u304a\u3088\u3073\u4ed6\u306e\u8cc7\u7523\u62c5\u4fdd\u8a3c\u5238\u3068\u306e\u9055\u3044\u3092\u8aac\u660e\u3059\u308b<\/span><span class=\"en\">describe characteristics and risks of covered bonds and how they differ from other asset-backed securities<\/span><\/li>\n<li><span class=\"ja\">LOS 2\uff1a\u8a3c\u5238\u5316\u3067\u7528\u3044\u3089\u308c\u308b\u5178\u578b\u7684\u306a\u4fe1\u7528\u88dc\u5b8c\u306e\u69cb\u9020\u3092\u8aac\u660e\u3059\u308b<\/span><span class=\"en\">describe typical credit enhancement structures used in securitizations<\/span><\/li>\n<li><span class=\"ja\">LOS 3\uff1a\u975e\u30e2\u30fc\u30b2\u30fc\u30b8\u8cc7\u7523\u62c5\u4fdd\u8a3c\u5238\u306e\u7a2e\u985e\u3068\u7279\u5fb4\u3092\u3001\u305d\u308c\u305e\u308c\u306e\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u3068\u30ea\u30b9\u30af\u3092\u542b\u3081\u3066\u8aac\u660e\u3059\u308b<\/span><span class=\"en\">describe types and characteristics of non-mortgage asset-backed securities, including the cash flows and risks of each type<\/span><\/li>\n<li><span class=\"ja\">LOS 4\uff1a\u50b5\u52d9\u62c5\u4fdd\u8a3c\u5238\uff08CDO\uff09\u306b\u3064\u3044\u3066\u3001\u305d\u306e\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u3068\u30ea\u30b9\u30af\u3092\u542b\u3081\u3066\u8aac\u660e\u3059\u308b<\/span><span class=\"en\">describe collateralized debt obligations, including their cash flows and risks<\/span><\/li>\n<\/ol>\n<h2>LM18\u306e\u307e\u3068\u3081<\/h2>\n<p>\u3053\u306e\u5358\u5143\u306e\u8981\u70b9\u3092\u307e\u3068\u3081\u308b\u3068\u3001\u6b21\u306e\u3068\u304a\u308a\u3067\u3059\u3002<\/p>\n<ul class=\"cfalm-sum\">\n<li>\u30ab\u30d0\u30fc\u30c9\u30fb\u30dc\u30f3\u30c9\u306f\u91d1\u878d\u6a5f\u95a2\u304c\u30b7\u30cb\u30a2\u50b5\u52d9\u3068\u3057\u3066\u767a\u884c\u3057\u3001\u5546\u696d\u7528\u30fb\u4f4f\u5b85\u7528\u30e2\u30fc\u30b2\u30fc\u30b8\u3084\u516c\u7684\u90e8\u9580\u5411\u3051\u8cc7\u7523\u306a\u3069\u304b\u3089\u306a\u308b\u5206\u5225\u7ba1\u7406\u3055\u308c\u305f\u8cc7\u7523\u30d7\u30fc\u30eb\u3092\u88cf\u4ed8\u3051\u3068\u3059\u308b\u304c\u3001\u3053\u308c\u3089\u306e\u8cc7\u7523\u306f\u767a\u884c\u4f53\u306e\u30d0\u30e9\u30f3\u30b9\u30b7\u30fc\u30c8\u306b\u6b8b\u308b<\/li>\n<li>\u975e\u30e2\u30fc\u30b2\u30fc\u30b8ABS\u306f\u8cc7\u7523\u30d7\u30fc\u30eb\u3092\u5143\u306e\u767a\u884c\u4f53\u306e\u30d0\u30e9\u30f3\u30b9\u30b7\u30fc\u30c8\u304b\u3089\u5207\u308a\u96e2\u3059\u8a3c\u5238\u5316\u3067\u3001\u30af\u30ec\u30b8\u30c3\u30c8\u30fb\u30ab\u30fc\u30c9\u50b5\u6a29\u306e\u3088\u3046\u306a\u975e\u511f\u5374\u578b\u306e\u50b5\u6a29\u3092\u88cf\u4ed8\u3051\u3068\u3059\u308b\u3053\u3068\u304c\u591a\u3044<\/li>\n<li>\u975e\u511f\u5374\u578b\u306e\u50b5\u6a29\u306f\u3001\u6e80\u671f\u524d\u306e\u4e00\u5b9a\u671f\u9593\uff08\u30ed\u30c3\u30af\u30a2\u30a6\u30c8\u671f\u9593\u3001\u30ea\u30dc\u30eb\u30d3\u30f3\u30b0\u671f\u9593\uff09\u306f\u5143\u306e\u50b5\u6a29\u984d\u3092\u7dad\u6301\u3057\u3001\u3053\u306e\u9593\u306b\u8fd4\u6e08\u3055\u308c\u305f\u5143\u672c\u306f\u8cc7\u7523\u30d7\u30fc\u30eb\u306e\u88dc\u5145\u306b\u518d\u6295\u8cc7\u3055\u308c\u308b<\/li>\n<li>CDO\u306f\u50b5\u5238\u3084\u30ed\u30fc\u30f3\u306a\u3069\u975e\u30e2\u30fc\u30b2\u30fc\u30b8\u50b5\u52d9\u306e\u5206\u6563\u3055\u308c\u305f\u30d7\u30fc\u30eb\u3092\u88cf\u4ed8\u3051\u3068\u3057\u3001\u5206\u5272\u3055\u308c\u305f\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u3092\u6295\u8cc7\u5bb6\u306b\u518d\u914d\u5206\u3059\u308b\u8a3c\u5238\u5316\u306e\u7dcf\u79f0\u3002\u30c8\u30e9\u30f3\u30b7\u30a7\u306f\u512a\u5148\u9806\u4f4d\u306b\u5f93\u3063\u3066\u652f\u6255\u3092\u53d7\u3051\u3001\u30b7\u30cb\u30a2\u306f\u50b5\u5238\u306b\u8fd1\u3044\u4f4e\u3081\u306e\u652f\u6255\u3001\u30b8\u30e5\u30cb\u30a2\u306f\u9ad8\u3044\u304c\u5909\u52d5\u306e\u5927\u304d\u3044\u30ea\u30bf\u30fc\u30f3\u3068\u306a\u308b<\/li>\n<li>\u6700\u3082\u4e00\u822c\u7684\u306aCDO\u306e\u5f62\u614b\u306f\u30ed\u30fc\u30f3\u62c5\u4fdd\u8a3c\u5238\uff08CLO\uff09\u3067\u3001\u62c5\u4fdd\u8cc7\u7523\u306e\u30c7\u30d5\u30a9\u30eb\u30c8\u6642\u306b\u306f\u975e\u7dda\u5f62\u306e\u8907\u96d1\u306a\u30ea\u30b9\u30af\u3092\u4f34\u3046<\/li>\n<li>\u30b7\u30cb\u30a2\u3068\u52a3\u5f8c\u306e\u50b5\u5238\u30af\u30e9\u30b9\uff08\u30c8\u30e9\u30f3\u30b7\u30a7\uff09\u3092\u4f5c\u308b\u30af\u30ec\u30b8\u30c3\u30c8\u30fb\u30c8\u30e9\u30f3\u30b7\u30f3\u30b0\u306f\u3001\u4e0a\u4f4d\u30af\u30e9\u30b9\u306b\u4fe1\u7528\u88dc\u5b8c\u3092\u63d0\u4f9b\u3059\u308b\u3002\u30b7\u30cb\u30a2\u306f\u52a3\u5f8c\u3088\u308a\u5148\u306b\u652f\u6255\u3092\u53d7\u3051\u3001\u52a3\u5f8c\u306f\u8cc7\u7523\u30d7\u30fc\u30eb\u306e\u30c7\u30d5\u30a9\u30eb\u30c8\u306b\u3088\u308b\u640d\u5931\u3092\u5148\u306b\u8ca0\u62c5\u3059\u308b<\/li>\n<li>\u8907\u6570\u306e\u50b5\u5238\u30af\u30e9\u30b9\u3092\u4f5c\u308b\u3053\u3068\u3067\u3001\u6295\u8cc7\u5bb6\u306f\u597d\u307f\u306e\u30ea\u30b9\u30af\u3001\u4e88\u60f3\u6e80\u671f\u3001\u30ea\u30bf\u30fc\u30f3\u3092\u9078\u3079\u308b\u3002\u5404\u30af\u30e9\u30b9\u306f\u901a\u5e38\u3001\u62c5\u4fdd\u306e\u8cea\u3068\u30af\u30e9\u30b9\u306e\u512a\u5148\u9806\u4f4d\u306e\u4e21\u65b9\u306b\u57fa\u3065\u3044\u3066\u683c\u4ed8\u3055\u308c\u308b<\/li>\n<\/ul>\n<p>\u4ee5\u4e0b\u3001LOS\u3054\u3068\u306b\u91cd\u8981\u8ad6\u70b9\u3092\u6574\u7406\u3057\u307e\u3059\u3002<\/p>\n<h3>LOS 1\uff1a\u30ab\u30d0\u30fc\u30c9\u30fb\u30dc\u30f3\u30c9\u3068\u4ed6\u306eABS\u3068\u306e\u9055\u3044<\/h3>\n<p><strong>\u30ab\u30d0\u30fc\u30c9\u30fb\u30dc\u30f3\u30c9<\/strong>\u306f\u3001\u91d1\u878d\u6a5f\u95a2\u304c\u30b7\u30cb\u30a2\u50b5\u52d9\u3068\u3057\u3066\u767a\u884c\u3057\u3001\u5206\u5225\u7ba1\u7406\u3055\u308c\u305f\u8cc7\u7523\u30d7\u30fc\u30eb\uff08\u30ab\u30d0\u30fc\u30fb\u30d7\u30fc\u30eb\uff09\u3067\u62c5\u4fdd\u3055\u308c\u308b\u50b5\u5238\u3067\u3059\u3002\u8cc7\u7523\u304c<strong>\u767a\u884c\u4f53\u306e\u30d0\u30e9\u30f3\u30b9\u30b7\u30fc\u30c8\u306b\u6b8b\u308b<\/strong>\u70b9\u3068\u3001\u767a\u884c\u4f53\u3068\u30ab\u30d0\u30fc\u30fb\u30d7\u30fc\u30eb\u306e\u4e21\u65b9\u306b\u8acb\u6c42\u3067\u304d\u308b<strong>\u4e8c\u91cd\u306e\u511f\u9084\u8acb\u6c42\u6a29\uff08\u30c7\u30e5\u30a2\u30eb\u30fb\u30ea\u30b3\u30fc\u30b9\uff09<\/strong>\u304c\u3042\u308b\u70b9\u304c\u3001\u4e00\u822c\u7684\u306aABS\u3068\u306e\u5927\u304d\u306a\u9055\u3044\u3067\u3059\u3002<\/p>\n<ul>\n<li>\u30ab\u30d0\u30fc\u30fb\u30d7\u30fc\u30eb\uff1a\u5546\u696d\u7528\u30fb\u4f4f\u5b85\u7528\u30e2\u30fc\u30b2\u30fc\u30b8\u3084\u516c\u7684\u90e8\u9580\u5411\u3051\u8cc7\u7523<\/li>\n<li>ABS\u306f\u8cc7\u7523\u3092SPE\u306b\u79fb\u3057\u3066\u30d0\u30e9\u30f3\u30b9\u30b7\u30fc\u30c8\u304b\u3089\u5916\u3059\u304c\u3001\u30ab\u30d0\u30fc\u30c9\u30fb\u30dc\u30f3\u30c9\u306f\u5916\u3055\u306a\u3044<\/li>\n<li>\u30c7\u30e5\u30a2\u30eb\u30fb\u30ea\u30b3\u30fc\u30b9\uff1a\u767a\u884c\u4f53\u3078\u306e\u8acb\u6c42\u306b\u52a0\u3048\u3001\u767a\u884c\u4f53\u306e\u7834\u7dbb\u6642\u306f\u30ab\u30d0\u30fc\u30fb\u30d7\u30fc\u30eb\u306b\u8acb\u6c42<\/li>\n<li>\u52d5\u7684\u306a\u30d7\u30fc\u30eb\uff1a\u4e0d\u826f\u5316\u3057\u305f\u8cc7\u7523\u306f\u9069\u683c\u8cc7\u7523\u306b\u5165\u308c\u66ff\u3048\u3089\u308c\u308b<\/li>\n<li>\u6e80\u671f\u306e\u69cb\u9020\uff1a\u30cf\u30fc\u30c9\u30fb\u30d6\u30ec\u30c3\u30c8\u3001\u30bd\u30d5\u30c8\u30fb\u30d6\u30ec\u30c3\u30c8\u3001\u6761\u4ef6\u4ed8\u304d\u30d1\u30b9\u30b9\u30eb\u30fc<\/li>\n<li>\u4e00\u822c\u7684\u306aABS\u3088\u308a\u4fe1\u7528\u30ea\u30b9\u30af\u304c\u4f4e\u304f\u3001\u5229\u56de\u308a\u3082\u4f4e\u3044\u50be\u5411<\/li>\n<\/ul>\n<h3>LOS 2\uff1a\u4fe1\u7528\u88dc\u5b8c\u306e\u69cb\u9020<\/h3>\n<p><strong>\u4fe1\u7528\u88dc\u5b8c\uff08credit enhancement\uff09<\/strong>\u306f\u3001\u539f\u8cc7\u7523\u306e\u30c7\u30d5\u30a9\u30eb\u30c8\u306b\u3088\u308b\u640d\u5931\u304b\u3089\u6295\u8cc7\u5bb6\u3092\u5b88\u308b\u4ed5\u7d44\u307f\u3067\u3001\u8a3c\u5238\u5316\u306e\u69cb\u9020\u5185\u90e8\u3067\u884c\u3046<strong>\u5185\u90e8\u4fe1\u7528\u88dc\u5b8c<\/strong>\u3068\u3001\u7b2c\u4e09\u8005\u306e\u4fdd\u8a3c\u306a\u3069\u306b\u3088\u308b<strong>\u5916\u90e8\u4fe1\u7528\u88dc\u5b8c<\/strong>\u306b\u5206\u304b\u308c\u307e\u3059\u3002\u4ee3\u8868\u7684\u306a\u5185\u90e8\u4fe1\u7528\u88dc\u5b8c\u304c\u3001\u52a3\u5f8c\u30c8\u30e9\u30f3\u30b7\u30a7\u304c\u5148\u306b\u640d\u5931\u3092\u5438\u53ce\u3059\u308b<strong>\u512a\u5148\u52a3\u5f8c\u69cb\u9020<\/strong>\u3067\u3059\u3002<\/p>\n<ul>\n<li>\u512a\u5148\u52a3\u5f8c\u69cb\u9020\uff08\u30af\u30ec\u30b8\u30c3\u30c8\u30fb\u30c8\u30e9\u30f3\u30b7\u30f3\u30b0\uff09\uff1a\u640d\u5931\u306f\u52a3\u5f8c\u30c8\u30e9\u30f3\u30b7\u30a7\u304b\u3089\u5148\u306b\u8ca0\u62c5\uff08\u30a6\u30a9\u30fc\u30bf\u30fc\u30d5\u30a9\u30fc\u30eb\uff09<\/li>\n<li>\u8d85\u904e\u62c5\u4fdd\uff08overcollateralization\uff09\uff1a\u767a\u884c\u3059\u308b\u8a3c\u5238\u306e\u984d\u9762\u3092\u4e0a\u56de\u308b\u62c5\u4fdd\u8cc7\u7523\u3092\u4fdd\u6709<\/li>\n<li>\u8d85\u904e\u30b9\u30d7\u30ec\u30c3\u30c9\uff1a\u539f\u8cc7\u7523\u306e\u5229\u606f\u53ce\u5165\u304c\u8a3c\u5238\u306e\u5229\u6255\u3068\u8cbb\u7528\u3092\u4e0a\u56de\u308b\u90e8\u5206\u3092\u640d\u5931\u5438\u53ce\u306b\u5145\u3066\u308b<\/li>\n<li>\u30ea\u30b6\u30fc\u30d6\u53e3\u5ea7\uff1a\u640d\u5931\u306b\u5099\u3048\u3066\u73fe\u91d1\u306a\u3069\u3092\u7a4d\u307f\u7acb\u3066\u308b<\/li>\n<li>\u5916\u90e8\u4fe1\u7528\u88dc\u5b8c\uff1a\u91d1\u878d\u4fdd\u8a3c\u3001\u9280\u884c\u306e\u4fe1\u7528\u72b6\u306a\u3069\u3002\u4fdd\u8a3c\u63d0\u4f9b\u8005\u306e\u4fe1\u7528\u30ea\u30b9\u30af\u304c\u6b8b\u308b<\/li>\n<\/ul>\n<h3>LOS 3\uff1a\u975e\u30e2\u30fc\u30b2\u30fc\u30b8ABS\u306e\u7a2e\u985e\u3068\u30ea\u30b9\u30af<\/h3>\n<p>\u975e\u30e2\u30fc\u30b2\u30fc\u30b8ABS\u306b\u306f\u3001<strong>\u30aa\u30fc\u30c8\u30fb\u30ed\u30fc\u30f3ABS<\/strong>\u306e\u3088\u3046\u306b\u5143\u672c\u304c\u511f\u5374\u3057\u3066\u3044\u304f<strong>\u511f\u5374\u578b<\/strong>\u3068\u3001<strong>\u30af\u30ec\u30b8\u30c3\u30c8\u30fb\u30ab\u30fc\u30c9\u50b5\u6a29ABS<\/strong>\u306e\u3088\u3046\u306b\u4e00\u5b9a\u671f\u9593\u5143\u672c\u304c\u7dad\u6301\u3055\u308c\u308b<strong>\u975e\u511f\u5374\u578b<\/strong>\u304c\u3042\u308a\u307e\u3059\u3002\u975e\u511f\u5374\u578b\u3067\u306f\u3001\u30ed\u30c3\u30af\u30a2\u30a6\u30c8\uff08\u30ea\u30dc\u30eb\u30d3\u30f3\u30b0\uff09\u671f\u9593\u4e2d\u306b\u56de\u53ce\u3055\u308c\u305f\u5143\u672c\u306f\u65b0\u305f\u306a\u50b5\u6a29\u306e\u8cfc\u5165\u306b\u518d\u6295\u8cc7\u3055\u308c\u307e\u3059\u3002<\/p>\n<ul>\n<li>\u30aa\u30fc\u30c8\u30fb\u30ed\u30fc\u30f3ABS\uff1a\u6bce\u6708\u306e\u5143\u5229\u8fd4\u6e08\u306b\u52a0\u3048\u671f\u9650\u524d\u8fd4\u6e08\u304c\u3042\u308a\u3001\u4fe1\u7528\u88dc\u5b8c\u3068\u3057\u3066\u512a\u5148\u52a3\u5f8c\u69cb\u9020\u30fb\u8d85\u904e\u62c5\u4fdd\u30fb\u30ea\u30b6\u30fc\u30d6\u53e3\u5ea7\u306a\u3069\u3092\u5229\u7528<\/li>\n<li>\u30af\u30ec\u30b8\u30c3\u30c8\u30fb\u30ab\u30fc\u30c9\u50b5\u6a29ABS\uff1a\u30ed\u30c3\u30af\u30a2\u30a6\u30c8\u671f\u9593\u4e2d\u306f\u6295\u8cc7\u5bb6\u306b\u5229\u606f\u306e\u307f\u652f\u6255\u3044\u3001\u5143\u672c\u306f\u518d\u6295\u8cc7<\/li>\n<li>\u30ed\u30c3\u30af\u30a2\u30a6\u30c8\u671f\u9593\u7d42\u4e86\u5f8c\u306f\u5143\u672c\u304c\u6295\u8cc7\u5bb6\u306b\u652f\u6255\u308f\u308c\u59cb\u3081\u308b<\/li>\n<li>\u65e9\u671f\u511f\u9084\u6761\u9805\uff1a\u4e00\u5b9a\u306e\u4e8b\u7531\u304c\u8d77\u304d\u308b\u3068\u65e9\u671f\u306b\u5143\u672c\u306e\u8fd4\u6e08\u304c\u59cb\u307e\u308b<\/li>\n<li>\u4e3b\u306a\u30ea\u30b9\u30af\uff1a\u539f\u8cc7\u7523\u306e\u4fe1\u7528\u30ea\u30b9\u30af\u3001\u671f\u9650\u524d\u8fd4\u6e08\u306b\u3088\u308b\u652f\u6255\u6642\u671f\u306e\u4e0d\u78ba\u5b9f\u6027<\/li>\n<\/ul>\n<h3>LOS 4\uff1a\u50b5\u52d9\u62c5\u4fdd\u8a3c\u5238\uff08CDO\uff09<\/h3>\n<p><strong>CDO<\/strong>\u306f\u3001\u793e\u50b5\u3084\u30ed\u30fc\u30f3\u306a\u3069\u306e\u5206\u6563\u3055\u308c\u305f\u975e\u30e2\u30fc\u30b2\u30fc\u30b8\u50b5\u52d9\u306e\u30d7\u30fc\u30eb\u3092\u88cf\u4ed8\u3051\u3068\u3057\u3001\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u3092\u512a\u5148\u9806\u4f4d\u306e\u7570\u306a\u308b\u30c8\u30e9\u30f3\u30b7\u30a7\u306b\u914d\u5206\u3059\u308b\u8a3c\u5238\u5316\u3067\u3059\u3002\u6700\u3082\u4e00\u822c\u7684\u306a\u5f62\u614b\u306f\u3001\u30ec\u30d0\u30ec\u30c3\u30b8\u30c9\u30fb\u30ed\u30fc\u30f3\u3092\u88cf\u4ed8\u3051\u3068\u3059\u308b<strong>\u30ed\u30fc\u30f3\u62c5\u4fdd\u8a3c\u5238\uff08CLO\uff09<\/strong>\u3067\u3001\u62c5\u4fdd\u8cc7\u7523\u3092\u904b\u7528\u3059\u308b\u30b3\u30e9\u30c6\u30e9\u30eb\u30fb\u30de\u30cd\u30b8\u30e3\u30fc\u304c\u95a2\u4e0e\u3057\u307e\u3059\u3002<\/p>\n<ul>\n<li>\u30c8\u30e9\u30f3\u30b7\u30a7\uff1a\u30b7\u30cb\u30a2\u3001\u30e1\u30b6\u30cb\u30f3\u3001\u30a8\u30af\u30a4\u30c6\u30a3\uff08\u52a3\u5f8c\uff09\u306e\u9806\u306b\u652f\u6255\u3092\u53d7\u3051\u308b<\/li>\n<li>\u30b7\u30cb\u30a2\u306f\u50b5\u5238\u306b\u8fd1\u3044\u5b89\u5b9a\u3057\u305f\u652f\u6255\u3001\u30a8\u30af\u30a4\u30c6\u30a3\u306f\u9ad8\u3044\u304c\u5909\u52d5\u306e\u5927\u304d\u3044\u30ea\u30bf\u30fc\u30f3<\/li>\n<li>\u30b3\u30e9\u30c6\u30e9\u30eb\u30fb\u30de\u30cd\u30b8\u30e3\u30fc\u304c\u62c5\u4fdd\u8cc7\u7523\u3092\u58f2\u8cb7\u30fb\u7ba1\u7406<\/li>\n<li>\u62c5\u4fdd\u8cc7\u7523\u306e\u30c7\u30d5\u30a9\u30eb\u30c8\u304c\u91cd\u306a\u308b\u3068\u640d\u5931\u304c\u4e0b\u4f4d\u30c8\u30e9\u30f3\u30b7\u30a7\u304b\u3089\u975e\u7dda\u5f62\u306b\u6ce2\u53ca<\/li>\n<li>\u62c5\u4fdd\u8cc7\u7523\u9593\u306e\u30c7\u30d5\u30a9\u30eb\u30c8\u306e\u76f8\u95a2\u304c\u30c8\u30e9\u30f3\u30b7\u30a7\u306e\u30ea\u30b9\u30af\u3092\u5927\u304d\u304f\u5de6\u53f3\u3059\u308b<\/li>\n<\/ul>\n<h2>\u52b9\u7387\u3088\u304f\u5b66\u3076\u306b\u306f FA-Academy<\/h2>\n<p>CFA\u00ae\ufe0e\u306e\u5354\u4f1a\u30c6\u30ad\u30b9\u30c8\u306f\u82f1\u8a9e\u3067\u5206\u91cf\u3082\u591a\u304f\u30011\u3064\u3072\u3068\u3064\u306e\u5358\u5143\u3092\u82f1\u8a9e\u3060\u3051\u3067\u7406\u89e3\u3057\u3066\u3044\u304f\u306e\u306f\u5927\u304d\u306a\u8ca0\u62c5\u3067\u3059\u3002<\/p>\n<p>FA-Academy\uff08Financial Analyst Academy\uff09\u306f\u3001<strong>\u65e5\u672c\u8a9e\u3067\u5b66\u3079\u308b\u6570\u5c11\u306a\u3044CFA\u00ae\ufe0e\u8a66\u9a13\u30b5\u30dd\u30fc\u30c8<\/strong>\u3067\u3059\u3002\u3053\u308c\u307e\u3067 Level 1 \u304b\u3089 Level 3 \u307e\u3067\u591a\u304f\u306e\u5408\u683c\u8005\u3092\u8f29\u51fa\u3057\u3066\u304a\u308a\u3001\u5408\u683c\u8005\u306e\u65b9\u3005\u3068\u306e\u5bfe\u8ac7\u3082\u6570\u591a\u304f\u516c\u958b\u3057\u3066\u3044\u307e\u3059\u3002\u3069\u3093\u306a\u65b9\u304c\u3001\u3069\u306e\u3088\u3046\u306b\u5408\u683c\u3055\u308c\u305f\u306e\u304b\u306f<a href=\"https:\/\/triumphmind.com\/cfa\/category\/gokaku\/\" target=\"_blank\" rel=\"noopener\">\u5408\u683c\u8005\u5bfe\u8ac7\u30fb\u5408\u683c\u4f53\u9a13\u8ac7\u306e\u4e00\u89a7<\/a>\u304b\u3089\u3054\u89a7\u3044\u305f\u3060\u3051\u307e\u3059\u3002<\/p>\n<ul>\n<li><a href=\"https:\/\/triumphmind.com\/cfa\/present1\/\" target=\"_blank\" rel=\"noopener\">Level 1 \u65e5\u672c\u8a9e\u8981\u70b9\u96c6\u306e\u7121\u6599\u30b5\u30f3\u30d7\u30eb\u3092\u53d7\u3051\u53d6\u308b\uff087\u65e5\u9593\u30e1\u30fc\u30eb\u8b1b\u5ea7\uff09<\/a><\/li>\n<li><a href=\"https:\/\/timerex.net\/s\/cfa.tips.slack_2a23\/e72e883e\/\" target=\"_blank\" rel=\"noopener\">\u7121\u6599\u500b\u5225\u9762\u8ac7\u3092\u4e88\u7d04\u3059\u308b\uff08\u5b66\u7fd2\u8a08\u753b\u306e\u3054\u76f8\u8ac7\uff09<\/a><\/li>\n<li><a href=\"https:\/\/triumphmind.com\/cfa\/course\/\" target=\"_blank\" rel=\"noopener\">\u53d7\u8b1b\u6848\u5185\uff08\u30b3\u30fc\u30b9\u4e00\u89a7\u30fb\u53d7\u8b1b\u6599\uff09\u3092\u898b\u308b<\/a><\/li>\n<\/ul>\n<div class=\"cfalm-nav\">\u524d\u306e\u5358\u5143\uff1a<a href=\"https:\/\/triumphmind.com\/cfa\/2026\/09\/22\/cfa-l1-fi-lm17\/\">LM17 Fixed-Income Securitization\uff08\u8a3c\u5238\u5316\uff09<\/a><br \/>\n\u6b21\u306e\u5358\u5143\uff1a<a href=\"https:\/\/triumphmind.com\/cfa\/2026\/09\/22\/cfa-l1-fi-lm19\/\">LM19 Mortgage-Backed Security (MBS) Instrument and Market Features\uff08\u4f4f\u5b85\u30ed\u30fc\u30f3\u62c5\u4fdd\u8a3c\u5238\uff08MBS\uff09\uff09<\/a><br \/>\n\u5168\u4f53\u306e\u76ee\u6b21\uff1a<a href=\"https:\/\/triumphmind.com\/cfa\/cfa-curriculum\/#l1-fi\">CFA\u00ae\ufe0e \u5b66\u7fd2\u5185\u5bb9\u306e\u76ee\u6b21\uff08Level 1 Fixed Income\uff09<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"<p>CFA\u00ae\ufe0e Level 1 Fixed Income LM18\u300cAsset-Backed Security (ABS) Instrument and Market Features\uff08\u8cc7\u7523\u62c5\u4fdd\u8a3c\u5238\uff08ABS\uff09\uff09\u300d\u306eLOS\uff08\u5b66\u7fd2\u76ee\u6a19\uff09\u3068\u91cd\u8981\u8ad6\u70b9\u3092\u3001\u6700\u65b0\u7248\u30ab\u30ea\u30ad\u30e5\u30e9\u30e0\u306b\u57fa\u3065\u3044\u3066\u65e5\u672c\u8a9e\u3067\u6574\u7406\u3057\u307e\u3057\u305f\u3002<\/p>\n","protected":false},"author":1,"featured_media":11129,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jin_ogp_image_url":"","_jin_last_featured_id":0,"footnotes":""},"categories":[98],"tags":[],"class_list":["post-10783","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-level1-topics"],"_links":{"self":[{"href":"https:\/\/triumphmind.com\/cfa\/wp-json\/wp\/v2\/posts\/10783","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/triumphmind.com\/cfa\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/triumphmind.com\/cfa\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/triumphmind.com\/cfa\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/triumphmind.com\/cfa\/wp-json\/wp\/v2\/comments?post=10783"}],"version-history":[{"count":1,"href":"https:\/\/triumphmind.com\/cfa\/wp-json\/wp\/v2\/posts\/10783\/revisions"}],"predecessor-version":[{"id":10956,"href":"https:\/\/triumphmind.com\/cfa\/wp-json\/wp\/v2\/posts\/10783\/revisions\/10956"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/triumphmind.com\/cfa\/wp-json\/wp\/v2\/media\/11129"}],"wp:attachment":[{"href":"https:\/\/triumphmind.com\/cfa\/wp-json\/wp\/v2\/media?parent=10783"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/triumphmind.com\/cfa\/wp-json\/wp\/v2\/categories?post=10783"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/triumphmind.com\/cfa\/wp-json\/wp\/v2\/tags?post=10783"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}