[CFA Level I] 15, Holding-Period Returns and the Risk Premium

This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams.

In this episode you will learn:

- How to calculate holding-period return using periodic income and capital appreciation.

- The distinction between dividend yield and capital gain yield in total return.

- How to compute realized excess return relative to a nominal risk-free benchmark.

- The difference between ex ante required risk premiums and ex post realized excess returns.

- A simple decision rule and mnemonic for holding-period calculations.

This independent study resource is designed to supplement your study schedule for the CFA Level I exam. Access practice materials at https://open-exam-prep.com/practice/cfa-level1 and watch video explanations at https://www.youtube.com/@Open-exam-prep .

Sources checked: October 12, 2026

https://www.cfainstitute.org/programs/cfa-program/candidate-resources/level-i-exam

https://www.cfainstitute.org/sites/default/files/2027levelitopicoutline_online.pdf