Floating Rate Notes - Required Margin and Quoted Margin

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Can anyone explain what the Required Margin and Quoted Margin are for a floating rate note? I have read the definition’s of both from the CFAI material but they seem so similar in their explanation that I just don’t understand/see the difference.
Anyone have a basic concept of the two so I can understand better?
 
I think it is as simple as this:
Quoted Margin: The margin you add to LIBOR to calculate the coupon payment (PMT)
Required Margin: The margin you add to LIBOR (margin + LIBOR = YTM) in order to calculate PV, n, etc. (assuming you already have calculated the PMT above)
Just make sure that both are adjusted on a quarterly or semi-annual basis if needed.
Similar to coupon rate and YTM’s relationship, if quoted is higher than required the bond is at premium (if lower, at discount).
 
I agree with thisisnick.
Consider qouted margin as coupoun yield based on floating rate LIBOR + BPS (markup). In practice may be any other basic interest rate as EURIBOR, EONIA etc…but it is likely that on exam will be LIBOR, whatever principle is the same.
Required margin is YTM of FNR also based on floating rate (LIBOR + BPS markup).
As thisisnick says, watch out on period adjustments (semi-annual basis).
 
Could anyone help me with this question:
A two-year floating-rate note pays 6-month Libor plus 80 basis points. The floater is priced at 97 per 100 of par value. Current 6-month Libor is 1.00%. Assume a 30/360 day-count convention and evenly spaced periods. The discount margin for the floater in basis points (bps) is closest to:
  1. 180 bps.
  2. 236 bps.
  3. 420 bps.
The answer is B.
I do the calculation and find 3.36 for the YTM. Could anyone explain why I would subtract 1 from 3.36? thanks
 
It asked you to calculate discount margin. Margin is BPS rate added to basic rate (LIBOR). Since 6m LIBOR is 1%, discount margin was substracted from total YTM of 3,36% which exactly is 3,36% - LIBOR (1%) thus 236 BPS or 2,36%.
 
Required Margin: 3.36% - 1.0% = 2.36%
The question is asking you to calculate the required margin that is added to the LIBOR (YTM - LIBOR). But I got confused with the 6-month LIBOR while calculating.
 
Peeps, I got the answer using the calculator, but could not get the correct answer manually, can someone please solve the above question here.
 
PMT: (1.00% + 0.80%) x (180/360) x 100 = 0.90
FV: 100
PV: -97
n: 4
I/Y = 1.68% x 2 = 3.3636%
I had trouble with that as well.
 
‘Current 6-month Libor is 1.00%.’
In all the questions is the interest rate given always annual rate ? Like in this case the interest rate is of 6 month Libor but it is scaled up to 12 months (x2).
If yes, then why is it so ?
 
I know how to calculate it, and @ Thisisnick, i can also calcuate it through the process you have highlighted, i want to see the step-on-step approach..
I got the answer using the calculator, but found it hard to replicate the same answer manually.
 
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