Educational Disclaimer

For education only

FIA is an educational and training tool. Nothing in it is investment, financial, legal, tax, accounting or regulatory advice, or a recommendation to buy, sell or hold any security. Using FIA doesn't make CapitalWave your adviser. Talk to a qualified professional before you make financial decisions.

Models and results

FIA's tools use standard textbook models with simplified assumptions. Their results depend on the inputs you enter and may differ from market prices, dealer systems and professional analytics. Don't rely on them for trading, valuation, risk management or regulatory reporting.

Market data

FIA uses daily yield and rate data from the US Treasury and the Federal Reserve Bank of St. Louis (FRED). This data may be delayed, revised by its source, incomplete or wrong, and it isn't real-time. Past snapshots are kept as they were fetched, so they may not match later revisions. Past market behaviour doesn't predict future results.

Sample and simulated data

Sample portfolios, positions, companies, case studies and screenshots use fictional or simulated data. Any resemblance to real people, portfolios or firms is coincidental. Results in the class game aren't real gains or losses.

AI tutor and suggested marks

The AI tutor's answers and the suggested marks for written answers are generated by AI. They can be incomplete or wrong. Check important points with your instructor or the course materials. Your instructor decides your grades.

Scores, exams and qualifications

FIA's labs, exercises and exams are practice and coursework. They aren't official examinations, and a score in FIA isn't a professional qualification, certification or accreditation, or proof that someone is suitable for a job. Your organization decides how FIA results count in its courses.

CFA Institute

CFA Institute does not endorse, promote, review or warrant the accuracy or quality of Fixed Income Analyzer or any other CapitalWave product or service.

• CapitalWave isn't affiliated with CFA Institute and isn't a CFA Institute Prep Provider.
• CFA Institute hasn't reviewed, approved, verified or confirmed FIA, its content or its results, and we don't claim that it has. Nothing on this site should be read as implying that it has.
• Where we mention the CFA Program, its levels or its topics, we do so only to describe what FIA covers.
• FIA's questions, labs and explanations are written by CapitalWave. They aren't CFA Institute exam questions and aren't taken from the CFA Program curriculum.
• Using FIA doesn't guarantee or predict any result in a CFA Institute exam. Candidates should study from CFA Institute's official curriculum.

CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.

The same applies to every other examination, certification or professional body we mention: none of them sponsors or endorses FIA.

Personal and confidential information

Use the sample data FIA supplies. Don't enter real client account details, confidential financial information or other people's personal information.

No warranty

As far as the law allows, FIA is provided without warranties of accuracy or completeness. The Terms of Use cover this in full.