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Chartered Financial Analyst (CFA): A designation given to professionalswho complete a multi-part exam designed to test accounting and investmentknowledge and professional ethics.Chinese Wall: The separation between public and private sections of aninvestment bank, including sales, trading & research from corporatefinance. Many banks even have physical barriers and/or e-mail restrictionsto support this effort.Collateralized Debt Obligation (CDO): A type of structured product orderivative, comprised of multiple tranches of debt of different companies..These debt tranches typically take the form of loans or bonds.Commercial bank:A bank that lends, rather than raises, money. Forexample, if a company wants $30 million to open a new production plant,it can approach a commercial bank for a loan. Commercial paper: Short-term corporate debt, typically maturing in ninemonths or less. Commitment letter: A document that outlines the terms of a loan acommercial bank gives a client. For example, in a $5 billion transactionunderwritten by three banks, the commitment letter would outline theamount each bank would underwrite and the corresponding terms. Commodities:Assets (usually agricultural products or metals) that aregenerally interchangeable with one another and therefore share a commonVisit the Vault Finance Career Channel at – with insider firm profiles, message boards, the Vault Finance Job Board and more. 167C A R E E RL I B R A R Y