{"id":4203,"date":"2019-03-06T23:50:49","date_gmt":"2019-03-06T23:50:49","guid":{"rendered":"https:\/\/analystprep.com\/cfa-level-1-exam\/?p=4203"},"modified":"2026-01-05T08:28:03","modified_gmt":"2026-01-05T08:28:03","slug":"ratios-used-equity-analysis-credit-analysis","status":"publish","type":"post","link":"https:\/\/analystprep.com\/cfa-level-1-exam\/financial-reporting-and-analysis\/ratios-used-equity-analysis-credit-analysis\/","title":{"rendered":"Ratios Used in Equity Analysis and Credit Analysis"},"content":{"rendered":"\n<script type=\"application\/ld+json\">\n{\n  \"@context\": \"https:\/\/schema.org\",\n  \"@type\": \"QAPage\",\n  \"mainEntity\": {\n    \"@type\": \"Question\",\n    \"name\": \"Financial ratio viewed positively by creditors when it increases\",\n    \"text\": \"Which of the following is a ratio whose increase a creditor would most likely view as positive?\\n\\nA. Debt to EBITDA.\\n\\nB. Return on capital.\\n\\nC. Total debt to total debt plus equity.\",\n    \"answerCount\": 1,\n    \"acceptedAnswer\": {\n      \"@type\": \"Answer\",\n      \"text\": \"B. Return on capital.\\n\\nAn increase in return on capital indicates that a company is generating more earnings per unit of capital employed, reflecting improved efficiency and profitability. This is viewed positively by creditors because it suggests stronger operating performance and a greater ability to service debt.\\n\\nOptions A and C are less favorable when they increase because both include debt in the numerator. Higher leverage increases default risk, which is a concern for creditors. Creditors would generally prefer these ratios to decrease rather than increase.\"\n    }\n  }\n}\n<\/script>\n<script type=\"application\/ld+json\">\n{\n  \"@context\": \"https:\/\/schema.org\",\n  \"@type\": \"QAPage\",\n  \"mainEntity\": {\n    \"@type\": \"Question\",\n    \"name\": \"Calculating the sustainable growth rate\",\n    \"text\": \"Thera Associates released the following information in their latest financial reports:\\n\\n- Total assets: $2,000,000\\n- Total liabilities: $1,250,000\\n- Net income: $500,000\\n- Dividends: $200,000\\n\\nWhat is the company\u2019s sustainable growth rate?\\n\\nA. 20%\\n\\nB. 30%\\n\\nC. 40%\",\n    \"answerCount\": 1,\n    \"acceptedAnswer\": {\n      \"@type\": \"Answer\",\n      \"text\": \"C. 40%.\\n\\nSustainable growth rate (SGR) is calculated as:\\n\\nSGR = ROE \u00d7 Retention rate.\\n\\nFirst, compute equity:\\nEquity = Assets \u2212 Liabilities = 2,000,000 \u2212 1,250,000 = 750,000.\\n\\nReturn on equity (ROE):\\nROE = Net income \/ Equity = 500,000 \/ 750,000 \u2248 0.67.\\n\\nRetention rate:\\nRetention rate = (Net income \u2212 Dividends) \/ Net income = (500,000 \u2212 200,000) \/ 500,000 = 0.60.\\n\\nSustainable growth rate:\\nSGR = 0.67 \u00d7 0.60 \u2248 0.40, or 40%.\"\n    }\n  }\n}\n<\/script>\n\n\n\n<p><iframe loading=\"lazy\" src=\"\/\/www.youtube.com\/embed\/n-tgI2uEev4\" width=\"611\" height=\"343\" allowfullscreen=\"allowfullscreen\"><\/iframe><\/p>\n<p>Equity analysis involves the evaluation of a company\u2019s equity to determine its relative attractiveness as an investment. Several methods can be used in this evaluation, including valuation ratios, discounted cash flow approaches, and residual income approaches.<\/p>\n<p>In credit analysis, the risk of loss caused by a counterparty\u2019s failure to make a promised payment (credit risk) is evaluated. There are several approaches to credit analysis. The approaches, nonetheless, may vary depending on the purpose of the analysis and the context within which it is being done.<\/p>\n<h2><strong>Equity Analysis<\/strong><\/h2>\n<h3><strong>Valuation Ratios<\/strong><\/h3>\n<p>The price-to-earnings ratio is also known as the P\/E ratio. It is perhaps the most popular valuation ratio used for valuing equity securities. It indicates how much an investor in a company\u2019s common stock is paying per dollar of the company\u2019s earnings. It is computed by dividing a company\u2019s share price by its earnings per share.<\/p>\n<p>Other similar ratios that are oftentimes used include the price to book value (P\/B), price to cash flow (P\/CF), and price to sales (P\/S) ratios. In particular, the P\/B ratio is often interpreted as an indicator of market judgment on the relationship between a company\u2019s required rate of return and its actual rate of return.<\/p>\n<h3><strong>Other Related Quantities<\/strong><\/h3>\n<p>$$\\begin{align}\\text{Basic earnings per share (or basic EPS)} &amp;= \\frac{\\text{(Net income \u2013 Preferred dividends)}}{\\text{Weighted average number of ordinary shares outstanding}}\\\\ \\text{Diluted EPS} &amp;= \\frac{\\text{(Adjusted income available for ordinary shares, reflecting the conversion of dilutive securities)}}{\\text{Weighted average number of ordinary and potential ordinary shares outstanding}}\\\\ \\text { Retention rate (b) }&amp;=\\frac{\\text { (Net income attributable to common shares &#8211; common share dividends) }}{\\text { Net income attributable to common shares }}\\\\ \\text{Sustainable growth rate} &amp;=\\text{Retention rate}\\times \\text{Return on equity}=b \\times \\text{ROE}\\end{align}$$<\/p>\n<h2><strong>Credit Analysis <\/strong><\/h2>\n<p>Below is a highlight of the ratios that are most commonly used in credit analysis, especially by credit rating agencies such as Standard &amp; Poor. When analyzing these ratios, rating agencies usually investigate deviations from the median ratios of the universe of companies for which these ratios have already been calculated.<\/p>\n<ul>\n<li>\n<h3><strong>EBIT Interest Coverage<\/strong><\/h3>\n<\/li>\n<\/ul>\n<p>Computation: EBIT\/gross interest (before deductions for capitalized interest or interest income)<\/p>\n<ul>\n<li>\n<h3><strong>EBITDA Interest Coverage<\/strong><\/h3>\n<\/li>\n<\/ul>\n<p>Computation: EBITDA\/gross interest (before deductions for capitalized interest or interest income)<\/p>\n<ul>\n<li>\n<h3><strong>FFO (Funds from Operations) Interest Coverage<\/strong><\/h3>\n<\/li>\n<\/ul>\n<p>Computation: (FFO + Interest paid \u2013 Operating lease adjustments)\/ Gross interest (before deductions for capitalized interest or interest income)<\/p>\n<ul>\n<li>\n<h3><strong>Return on Capital<\/strong><\/h3>\n<\/li>\n<\/ul>\n<p>Computation: EBIT\/average capital<\/p>\n<p><em>Where: Capital = Equity + Non-current deferred taxes + Debt<\/em><\/p>\n<ul>\n<li>\n<h3><strong>FFO (Funds from operations) to debt<\/strong><\/h3>\n<\/li>\n<\/ul>\n<p>Computation: FFO\/total debt<\/p>\n<ul>\n<li>\n<h3><strong>Free operating cash flow to debt<\/strong><\/h3>\n<\/li>\n<\/ul>\n<p>Computation: CFO (adjusted) minus capital expenditures\/total debt<\/p>\n<ul>\n<li>\n<h3><strong>Discretionary cash flow to debt<\/strong><\/h3>\n<\/li>\n<\/ul>\n<p>Computation: (CFO \u2013 Capital expenditures \u2013 Dividends paid)\/Total debt<\/p>\n<ul>\n<li>\n<h3><strong>Net cash flow to capital expenditures<\/strong><\/h3>\n<\/li>\n<\/ul>\n<p>Computation: (FFO \u2013 Dividends)\/Capital expenditures<\/p>\n<ul>\n<li>\n<h3><strong>Debt to EBITDA<\/strong><\/h3>\n<\/li>\n<\/ul>\n<p>Computation: Total debt\/EBITDA<\/p>\n<ul>\n<li>\n<h3><strong>Total debt to total debt plus equity<\/strong><\/h3>\n<\/li>\n<\/ul>\n<p>Computation: Total debt\/(Total debt + Equity)<\/p>\n<blockquote>\n<h3><strong>Question 1<\/strong><\/h3>\n<p>Which of the following is a ratio whose increase a creditor would <em>most likely<\/em> view as positive?<\/p>\n<ol style=\"list-style-type: upper-alpha;\">\n<li data-tadv-p=\"keep\">Debt to EBITDA.<\/li>\n<li data-tadv-p=\"keep\">Return on capital.<\/li>\n<li data-tadv-p=\"keep\">Total debt to total debt plus equity.<\/li>\n<\/ol>\n<p><strong>Solution<\/strong><\/p>\n<p>The correct answer is <strong>B<\/strong>.<\/p>\n<p>An increase in return on capital indicates that a company is earning more per average capital employed and is making better use of its capital.<\/p>\n<p>Options A and C have debt in the numerator of the ratios. An increase in a company&#8217;s debt suggests that the company has a higher risk of default. It is notable that the consequence of a higher risk of default is higher borrowing costs to compensate creditors for the assumed greater credit risk. A decrease in these ratios would be viewed as positive.<\/p>\n<h3><strong>Question 2<\/strong><\/h3>\n<p>Thera Associates released the following information in their latest financial reports:<\/p>\n<p>total assets: $2M;<\/p>\n<p>total liabilities: $1.25 M;<\/p>\n<p>net income: $500,000; and<\/p>\n<p>dividends: $200,000.<\/p>\n<p>What is the company\u2019s sustainable growth rate?<\/p>\n<ol style=\"list-style-type: upper-alpha;\">\n<li data-tadv-p=\"keep\">20%<\/li>\n<li data-tadv-p=\"keep\">30%<\/li>\n<li data-tadv-p=\"keep\">40%<\/li>\n<\/ol>\n<p><strong>Solution<\/strong><\/p>\n<p>The correct answer is <strong>C<\/strong>.<\/p>\n<p>$$\\text{Sustainable growth rate = ROE \u00d7 Retention rate}$$<\/p>\n<p>Where:<\/p>\n<p>$$\\text{ROE} = \\frac{\\text{Net income}}{\\text{(Assets \u2013 Liabilities)}} = \\frac{500,000}{(2 M \u2013 1.25 M)} = 0.67$$<\/p>\n<p>$$\\text{Retention rate} = \\frac{\\text{Earning retained}}{\\text{Net income}} = \\frac{300,000}{500,000} = 0.6$$<\/p>\n<p>Therefore,<\/p>\n<p>$$\\text{Sustainable growth rate = ROE \u00d7 Retention rate }= 0.67 \u00d7 0.6 = 0.4$$<\/p>\n<\/blockquote>","protected":false},"excerpt":{"rendered":"<p>Equity analysis involves the evaluation of a company\u2019s equity to determine its relative attractiveness as an investment. Several methods can be used in this evaluation, including valuation ratios, discounted cash flow approaches, and residual income approaches. In credit analysis, the&#8230;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[5],"tags":[],"class_list":["post-4203","post","type-post","status-publish","format-standard","hentry","category-financial-reporting-and-analysis","blog-post","no-post-thumbnail","animate"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Key Ratios for Equity &amp; Credit Analysis | CFA Level 1<\/title>\n<meta name=\"description\" content=\"Explore essential ratios used in equity and credit analysis, including valuation, cash flow, and residual income approaches for financial assessment.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/analystprep.com\/cfa-level-1-exam\/financial-reporting-and-analysis\/ratios-used-equity-analysis-credit-analysis\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Key Ratios for Equity &amp; Credit Analysis | CFA Level 1\" \/>\n<meta property=\"og:description\" content=\"Explore essential ratios used in equity and credit analysis, including valuation, cash flow, and residual income approaches for financial assessment.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/analystprep.com\/cfa-level-1-exam\/financial-reporting-and-analysis\/ratios-used-equity-analysis-credit-analysis\/\" \/>\n<meta property=\"og:site_name\" content=\"AnalystPrep | CFA\u00ae Exam Study Notes\" \/>\n<meta property=\"article:published_time\" content=\"2019-03-06T23:50:49+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2026-01-05T08:28:03+00:00\" \/>\n<meta name=\"author\" content=\"Simon\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Simon\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/analystprep.com\/cfa-level-1-exam\/financial-reporting-and-analysis\/ratios-used-equity-analysis-credit-analysis\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/analystprep.com\/cfa-level-1-exam\/financial-reporting-and-analysis\/ratios-used-equity-analysis-credit-analysis\/\"},\"author\":{\"name\":\"Simon\",\"@id\":\"https:\/\/analystprep.com\/cfa-level-1-exam\/#\/schema\/person\/8d6352b658ba58a707920fba950b3687\"},\"headline\":\"Ratios Used in Equity Analysis and Credit Analysis\",\"datePublished\":\"2019-03-06T23:50:49+00:00\",\"dateModified\":\"2026-01-05T08:28:03+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/analystprep.com\/cfa-level-1-exam\/financial-reporting-and-analysis\/ratios-used-equity-analysis-credit-analysis\/\"},\"wordCount\":708,\"articleSection\":[\"Financial Reporting and Analysis\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/analystprep.com\/cfa-level-1-exam\/financial-reporting-and-analysis\/ratios-used-equity-analysis-credit-analysis\/\",\"url\":\"https:\/\/analystprep.com\/cfa-level-1-exam\/financial-reporting-and-analysis\/ratios-used-equity-analysis-credit-analysis\/\",\"name\":\"Key Ratios for Equity & Credit Analysis | CFA Level 1\",\"isPartOf\":{\"@id\":\"https:\/\/analystprep.com\/cfa-level-1-exam\/#website\"},\"datePublished\":\"2019-03-06T23:50:49+00:00\",\"dateModified\":\"2026-01-05T08:28:03+00:00\",\"author\":{\"@id\":\"https:\/\/analystprep.com\/cfa-level-1-exam\/#\/schema\/person\/8d6352b658ba58a707920fba950b3687\"},\"description\":\"Explore essential ratios used in equity and credit analysis, including valuation, cash flow, and residual income approaches for financial assessment.\",\"breadcrumb\":{\"@id\":\"https:\/\/analystprep.com\/cfa-level-1-exam\/financial-reporting-and-analysis\/ratios-used-equity-analysis-credit-analysis\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/analystprep.com\/cfa-level-1-exam\/financial-reporting-and-analysis\/ratios-used-equity-analysis-credit-analysis\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/analystprep.com\/cfa-level-1-exam\/financial-reporting-and-analysis\/ratios-used-equity-analysis-credit-analysis\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/analystprep.com\/cfa-level-1-exam\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Ratios Used in Equity Analysis and Credit Analysis\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/analystprep.com\/cfa-level-1-exam\/#website\",\"url\":\"https:\/\/analystprep.com\/cfa-level-1-exam\/\",\"name\":\"AnalystPrep | CFA\u00ae Exam Study Notes\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/analystprep.com\/cfa-level-1-exam\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/analystprep.com\/cfa-level-1-exam\/#\/schema\/person\/8d6352b658ba58a707920fba950b3687\",\"name\":\"Simon\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/analystprep.com\/cfa-level-1-exam\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/analystprep.com\/cfa-level-1-exam\/wp-content\/uploads\/2016\/09\/analystprep-150x150.png\",\"contentUrl\":\"https:\/\/analystprep.com\/cfa-level-1-exam\/wp-content\/uploads\/2016\/09\/analystprep-150x150.png\",\"caption\":\"Simon\"},\"url\":\"https:\/\/analystprep.com\/cfa-level-1-exam\/author\/analystprep\/\"}]}<\/script>\n<meta property=\"og:video\" content=\"https:\/\/www.youtube.com\/embed\/n-tgI2uEev4\" \/>\n<meta property=\"og:video:type\" content=\"text\/html\" \/>\n<meta property=\"og:video:duration\" content=\"3584\" \/>\n<meta property=\"og:video:width\" content=\"480\" \/>\n<meta property=\"og:video:height\" content=\"270\" \/>\n<meta property=\"ya:ovs:adult\" content=\"false\" \/>\n<meta property=\"ya:ovs:upload_date\" content=\"2019-03-06T23:50:49+00:00\" \/>\n<meta property=\"ya:ovs:allow_embed\" content=\"true\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Key Ratios for Equity & Credit Analysis | CFA Level 1","description":"Explore essential ratios used in equity and credit analysis, including valuation, cash flow, and residual income approaches for financial assessment.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/analystprep.com\/cfa-level-1-exam\/financial-reporting-and-analysis\/ratios-used-equity-analysis-credit-analysis\/","og_locale":"en_US","og_type":"article","og_title":"Key Ratios for Equity & Credit Analysis | CFA Level 1","og_description":"Explore essential ratios used in equity and credit analysis, including valuation, cash flow, and residual income approaches for financial assessment.","og_url":"https:\/\/analystprep.com\/cfa-level-1-exam\/financial-reporting-and-analysis\/ratios-used-equity-analysis-credit-analysis\/","og_site_name":"AnalystPrep | CFA\u00ae Exam Study Notes","article_published_time":"2019-03-06T23:50:49+00:00","article_modified_time":"2026-01-05T08:28:03+00:00","author":"Simon","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Simon","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/analystprep.com\/cfa-level-1-exam\/financial-reporting-and-analysis\/ratios-used-equity-analysis-credit-analysis\/#article","isPartOf":{"@id":"https:\/\/analystprep.com\/cfa-level-1-exam\/financial-reporting-and-analysis\/ratios-used-equity-analysis-credit-analysis\/"},"author":{"name":"Simon","@id":"https:\/\/analystprep.com\/cfa-level-1-exam\/#\/schema\/person\/8d6352b658ba58a707920fba950b3687"},"headline":"Ratios Used in Equity Analysis and Credit Analysis","datePublished":"2019-03-06T23:50:49+00:00","dateModified":"2026-01-05T08:28:03+00:00","mainEntityOfPage":{"@id":"https:\/\/analystprep.com\/cfa-level-1-exam\/financial-reporting-and-analysis\/ratios-used-equity-analysis-credit-analysis\/"},"wordCount":708,"articleSection":["Financial Reporting and Analysis"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/analystprep.com\/cfa-level-1-exam\/financial-reporting-and-analysis\/ratios-used-equity-analysis-credit-analysis\/","url":"https:\/\/analystprep.com\/cfa-level-1-exam\/financial-reporting-and-analysis\/ratios-used-equity-analysis-credit-analysis\/","name":"Key Ratios for Equity & Credit Analysis | CFA Level 1","isPartOf":{"@id":"https:\/\/analystprep.com\/cfa-level-1-exam\/#website"},"datePublished":"2019-03-06T23:50:49+00:00","dateModified":"2026-01-05T08:28:03+00:00","author":{"@id":"https:\/\/analystprep.com\/cfa-level-1-exam\/#\/schema\/person\/8d6352b658ba58a707920fba950b3687"},"description":"Explore essential ratios used in equity and credit analysis, including valuation, cash flow, and residual income approaches for financial assessment.","breadcrumb":{"@id":"https:\/\/analystprep.com\/cfa-level-1-exam\/financial-reporting-and-analysis\/ratios-used-equity-analysis-credit-analysis\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/analystprep.com\/cfa-level-1-exam\/financial-reporting-and-analysis\/ratios-used-equity-analysis-credit-analysis\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/analystprep.com\/cfa-level-1-exam\/financial-reporting-and-analysis\/ratios-used-equity-analysis-credit-analysis\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/analystprep.com\/cfa-level-1-exam\/"},{"@type":"ListItem","position":2,"name":"Ratios Used in Equity Analysis and Credit Analysis"}]},{"@type":"WebSite","@id":"https:\/\/analystprep.com\/cfa-level-1-exam\/#website","url":"https:\/\/analystprep.com\/cfa-level-1-exam\/","name":"AnalystPrep | CFA\u00ae Exam Study Notes","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/analystprep.com\/cfa-level-1-exam\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/analystprep.com\/cfa-level-1-exam\/#\/schema\/person\/8d6352b658ba58a707920fba950b3687","name":"Simon","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/analystprep.com\/cfa-level-1-exam\/#\/schema\/person\/image\/","url":"https:\/\/analystprep.com\/cfa-level-1-exam\/wp-content\/uploads\/2016\/09\/analystprep-150x150.png","contentUrl":"https:\/\/analystprep.com\/cfa-level-1-exam\/wp-content\/uploads\/2016\/09\/analystprep-150x150.png","caption":"Simon"},"url":"https:\/\/analystprep.com\/cfa-level-1-exam\/author\/analystprep\/"}]},"og_video":"https:\/\/www.youtube.com\/embed\/n-tgI2uEev4","og_video_type":"text\/html","og_video_duration":"3584","og_video_width":"480","og_video_height":"270","ya_ovs_adult":"false","ya_ovs_upload_date":"2019-03-06T23:50:49+00:00","ya_ovs_allow_embed":"true"},"_links":{"self":[{"href":"https:\/\/analystprep.com\/cfa-level-1-exam\/wp-json\/wp\/v2\/posts\/4203","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/analystprep.com\/cfa-level-1-exam\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/analystprep.com\/cfa-level-1-exam\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/analystprep.com\/cfa-level-1-exam\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/analystprep.com\/cfa-level-1-exam\/wp-json\/wp\/v2\/comments?post=4203"}],"version-history":[{"count":45,"href":"https:\/\/analystprep.com\/cfa-level-1-exam\/wp-json\/wp\/v2\/posts\/4203\/revisions"}],"predecessor-version":[{"id":57298,"href":"https:\/\/analystprep.com\/cfa-level-1-exam\/wp-json\/wp\/v2\/posts\/4203\/revisions\/57298"}],"wp:attachment":[{"href":"https:\/\/analystprep.com\/cfa-level-1-exam\/wp-json\/wp\/v2\/media?parent=4203"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/analystprep.com\/cfa-level-1-exam\/wp-json\/wp\/v2\/categories?post=4203"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/analystprep.com\/cfa-level-1-exam\/wp-json\/wp\/v2\/tags?post=4203"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}