1. The document discusses various term structure models for interest rates, including Black-Scholes, Vasicek, Cox-Ingersoll-Ross (CIR), Hull-White, and Ho-Lee models. 2. A key concept is that term structure models describe the evolution of the entire yield curve over time, while short rate models only describe the probability distribution of interest rates at single points in time. 3. The models make different assumptions about the behavior of interest rates through time, such as mean-reversion or following stochastic processes, and can be used to price fixed income securities and derivatives.