So I’m sure that at least a few of you had given up on swaps, or maybe [gasp!] hadn’t even learned them yet. I know that’s how I was feeling. But I’d really suggest you try this method.

THE NO-FROWN* METHOD GUARANTEED** TO TEACH YOU SWAPS:

1) Go to this thread. Read it in it’s entirety if you like, but you really only need the posts from JScott24.

http://www.analystforum.com/phorums/read.php?12,749056

Print out the thread, and cut-and-paste yourself a little cheat sheet together from the relevant posts [as in, actually print it out on a piece of paper].

2) Open your CFAI or Schweser text/Qbank. Pick 10 currency or interest rate swaps and do the problems, using your cheat sheet as much as possible to get them right.

3) Pick five more problems. Turn your cheat sheet over and try and do them without it.

4) If you get them all right, congrats! Skip to step 6.

5) If you get any wrong, pull up the answer key and your cheat sheet and re-do the problem correctly, using your cheat sheet and the answer key to get it right. Write out the answer steps EVEN IF you copy them verbatim and have NO CLUE what you’re doing. The process of writing out the steps will help.

6) You don’t have to, but I highly suggest you do steps 3-5 several times between now the exam. All in all, 5 swaps problems should take you around 30 minutes - banging out a set like this and reviewing it will mean you’re super sharp come exam day.

Enormous thanks to JScott24 for his original posts. If you are ever in NYC, I owe you several beers.

*You will definitely frown while doing this
**Not guaranteed at all.