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Bond Valuation Mastery - Learn To Value Bonds From Scratch. (Udemy.com)

Become A PRO At Valuing One Of The Most Important Fixed Income Securities | Finance Fundamentals | Valuation Series

Created by: Fervent #LearnWithDistinction

Last updated August 2026

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What you will learn

  • Gain a solid foundation of the core fundamentals that drive the entire Bond Valuation process.
  • Understand Bonds inside out, including what they are, their characteristics, types, payoff structure, ratings, and more.
  • Apply what you learn immediately with example question walkthroughs, and progressively challenging quizzes with the most detailed solutions, ever.
  • Become a PRO at Valuing Zero Coupon (Deep Discount) Bonds, Straight / Vanilla Bonds, and Consols manually and on Excel®.
  • Learn the powerful relationship between the Coupon Rate and the Yield to Maturity that most textbooks simply don't teach.
  • Estimate the Yield to Maturity of bonds manually as well as on Excel®

How it compares

Against the other 278 rated Udemy courses in Trading & Investing on CourseDuck:

  • Rating4.6 out of 5higher than 66% of them
  • Reviews1,237#71 of 279 by number of reviews
  • Length3.8 hoursshorter than 55% of them
  • Last updatedAugust 2026more recently than 69% of them

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Course Description

Explore how to value one of the most versatile fixed income securities, inside out. Apply rock solid finance fundamentals to value Straight / Vanilla Bonds, Consols, and Zero-Coupon (“Deep Discount”) Bonds as well as their Yields, from scratch. Do this manually, and on Excel® and Google Sheets.

With no prior knowledge required, and a curriculum that's designed for distinction, this course will take you from zero to PRO in one of the most important aspects of modern day Finance. And build your finance fundamentals up from scratch, to hold you in good stead forever.

6 SECTIONS TO MASTERY.

Use our structured learning path, or dive right in to a specific concept you’re struggling with.

Introduction to Bonds

  • Get the basic finance fundamentals right, first time – so you learn once and retain it forever.

  • Explore what bonds are, including their types and characteristics.

  • Discover the “trading status” of bonds and see how ratings work.

The Fundamentals

  • Gain a solid command over the core finance fundamentals that drive the entire bond valuation process.

  • Understand the powerful logic and intuition behind discounting future cashflows.

  • Witness the power of compounding cashflows, including why we use (1+r) and not just r.

Valuing Bonds (Simple Cases)

  • Value a Zero-Coupon Bond from scratch.

  • Estimate the price of a Straight / Vanilla bond.

  • Value a Consol (aka ‘Perpetual Bond), and see why the formula works.

Valuing Bonds (Advanced)

  • Value bonds with semi-annual and quarterly coupons.

  • Explore the impact of compounding on bond prices.

  • See first hand how a change in the yield impacts the value of a bond.

Yield To Maturity Fundamentals

  • Explore the pre-requisites for estimating the yield.

  • Learn what the Net Present Value (NPV) is.

  • Understand the Internal Rate of Return (IRR) and see how it relates to the yield.

Estimating Yield To Maturity (YTM)

  • Calculate the YTM of a Zero-Coupon Bond from scratch.

  • Estimate the YTM of a Consol (aka ‘Perpetual Bond’).

  • Apply your knowledge of NPV and IRR to estimate the yield of a vanilla bond, manually and on Excel.


DESIGNED FOR DISTINCTION

Discover the intuition behind the bond valuation process and gain a solid foundation in Finance Fundamentals thanks to:

A Solid Foundation

You’ll gain a solid foundation of the core fundamentals that drive the entire bond valuation process.

Example Walkthroughs

Every major concept is taught with example question walkthroughs, so you can literally see how we value bonds from scratch.

Loads of Helpful Practice Activities

Apply what you learn immediately with 135 practice questions, all with impeccably detailed solutions.

One Page Cheat Sheets & Resources

Mathematical proofs, one page cheat sheets, workable Excel® & Google Sheets spreadsheets – all included.


Say goodbye to endless memorising.

Engage with carefully thought out, clutter-free, and engaging study materials that focus on the 20% finance fundamentals that drive 80% of the results.

Easily follow through complex concepts with great visuals that don’t overdo it.

Explore why bonds are valued the way they are, instead of memorising formulas without understanding them.

There really always is a reason for everything.


Feel your confidence rise.

Apply what you learn immediately in example question walkthroughs and progressively challenging quizzes with impeccably detailed solutions.

Engage with over 100 questions ranging from simple true and false ones to more complex problems that take you outside your comfort zone.

Questions are relevant for Ivy League / Russell Group University students as well as professionals studying for the ICAEW CFAB, ACA, ACCA, and CFA qualifications.

All questions designed in-house, by Professional Tutors with Russell Group Distinctions.


See how & why  the equations work.

Learn why we divide some variables by something, and multiply other variables by something else. Get past the painful approach of memorising countless equations.

Not only will we rip apart each equation one variable at a time, we’ll also give you mathematical proofs that show the equation’s logic one step at a time.

Save yourself time and effort by understanding why the equation works the way it does. Then go out and create your own equations thanks to your new rock solid finance fundamentals.

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Here's what you get. And this is exactly why this is the only course you'll ever need to take to master Bond Valuation:

  • Over 3.5 hours of on-demand video content, with each concept broken down part by part, variable by variable, one equation at a time. Starting from the very basics, and building you to a point where you can handle more complex problems.

  • Student-centric, easy-to-read learning materials that will change the way you look at lecture notes. Seriously.

  • Quizzes and assignments that challenge you, progressively. With the most detailed solutions you've ever seen.

  • An easy to apply 'Discount Factor Table', with a built-in how to guide.

  • Mathematical proofs for the mathematically curious!

  • An instructor who's insanely passionate about Finance and Finance Fundamentals, and obsessed with helping you win.

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As you can tell, we're new to Udemy. But we've been helping students and professionals master Finance and Accounting across Europe for a while now. Here's what our 1:1 Tuition Clients say about us.

We're proud of our students, and inspired by these stories - we decided to share them (unedited) with you...

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Instructor Details

Fervent #LearnWithDistinction

Fervent empowers you to master complex concepts in Finance and Accounting with distinction.

Explore student-centric courses that help you gain a genuine understanding of the intricacies of Finance and Accounting.

Learn by relying on the data, math, and logic exclusively. Not subjective opinions.

As a standard, Fervent's courses come with:

- Carefully thought out, clutter-free HD video lessons that break the subject down to its core
- Quizzes to help you test your understanding and track your progress
- Assignments that take you outside your comfort zone.


Enroll now and start to Learn with Distinction.

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Reviews

4.6

1,237 ratings on Udemy

Select a bar to show only those reviews.Select the bar again to show every rating.

By Manuel Portal on 9/16/2025

Very good course because it provides tests and answers to pertinent aspects of bond mathematics. I was not happy to see such large type for printing. it is costly to copy on printers because of the costly price of computer ink. Why can't you use a smaller font and also use less empty paper space. It would reduce the amount of paper and ink for the student.

By Marc Schwärzli on 5/1/2025

An outstanding course—highly practical, analytical, and expertly taught. It builds a strong foundation in bond valuation from scratch to mastery, covering Vanilla Bonds, Consols, and Zero-Coupon Bonds. The instructor’s deep subject knowledge shines throughout. Ideal for beginners and pros alike, it fills critical gaps in financial education with clear explanations and hands-on Excel and Google Sheets practice.

By Rizvi Bari on 9/10/2024

The course itself is good. The concepts covered are fundamentals of valuing bonds. These concepts are covered in CFA Level 1 or fixed income college courses. So, CFA candidates and Finance graduates won't learn anything new. However, if you're a finance undergrad or CFA candidate struggling with Fixed Income, this course is a good primer.

By Eduardo Jose Merino-Reyna Laughlin on 6/14/2023

Very good and easy understandable course in some part off. Sometimes little complex and sophisticated with the math terms and manual formulas. Will be very good and practical if those math examples and formulas was explained always with Google Sheets or Excel, that was used in some cases. Excellent and well done course.

By Lucy Chu on 6/13/2022

The structure of the course is good and easy to follow. However, I think how much you like a course also depends on personal preference but objectively speaking, I found the lecture a bit too monotone. Also, the explanations to the answers of the quiz questions could be improved. At the moment it just restates what the correct choice was without giving an actual explanation. An explanation in narrative form or equations showing how you get to a certain result should be provided in addition to telling you which sections to go back to.

By Adam Sinka on 5/10/2020

Amazing course! The explanations are clear and the content is easy to follow, even if you are a beginner. The quizzes after every lesson help a lot to understand the presented concepts. However, it would be nice to see some real world examples too. As a side note, the intros throughout the course are a bit too loud compared to the content.

By Cat Marriott on 4/15/2020

I'm leaving a five star review because I thought the course was very thorough and detailed and a lot of work went in to it. But generally throughout the course I found it very frustrating because it is basically using long-hand to value bonds. I personally can't believe that bond traders sit around using long hand to calculate the value of a bond. Yes you can use the discount factor tables (it would be good if you supplied a reliable set) but then you can also use Excel, except Excel is not reliable as it has bugs! Even though it works sometimes, there were plenty of times I couldn't get the right answer using excel. So this gave me a sense of despair. Furthermore I would have like to see some more real world knowledge about trading bonds, as it all felt a bit abstract.

By Gulshan Shetty on 3/22/2020

I began this course with some trepidation, being a complete novice when it comes to anything Finance. 80% into the course and I feel confident with the intricacies of Bonds and their valuation. As advertised, Vash does an amazing job of stripping down complex equations and terminology into language that can be understood by lay people. The cadence and style of teaching, novelty of this knowledge and the rush I have felt from learning has spurred me to enroll for two other courses by Fervent as well! I highly recommend this course to anyone wanting to learn about Bond Valuation!

By Katarzyna Osowiecka on 12/27/2019

The course lives up to its title, bond valuation mastery from scratch. The lecturer is clear, concise, and there is a quiz after each lesson. Both theory and math are properly explained, focusing on just the right aspects of the topics. Also, there are slides for each lesson available for downloading.

By Aidan Vass on 7/15/2018

This is a great course for people looking to not just learn the basics of the concept but to become fluent in it. I am a roughly halfway through the course and am already confident in the topic. This course is great for anybody as long as they have basic algebra skills, as the material requires these skills.

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Overall Score : 92 / 100