Refreshed Practice Question Documents

As most of you have probably noticed, we've started to issue refreshed Practice Question documents to assist in cleaning up the study planner as well as providing up to date information. The refreshed documents include:

• Forum discussion links
• Errors corrected based on forum
• Authors compiled into single documents

This will not only provide you up to date information, assist with cleaning up the planner but it also provides less documents that you need to download!

The refreshed practice question documents can be found in the study planner:

P1.T1 (Foundations):

• P1.T1. Jorion, Chapter 1
• P1.T1 Stulz, Chapter 3
• P1.T1. Elton & Gruber, Chapters 5,13,15 & 16
• P1.T1. Amenc, Chapter 4
• P1.T1. Allen, Chapter 4

P1.T1 (Quantiative Analysis):

• P1.T2. Stock, Chapters 2-7
• P1.T2. Rachev, Chapters 2 & 3
• P1.T2. Jorion, Chapter 12
• P1.T2. Hull, Chapter 21
• P1.T2. Econometrics (Gujarati)--coming soon

P2.T5 (Market Risk):

• P2.T5. Hull, Chapters 19 & 25
• P2.T5. Tuckman, Chapters 6, 7, 9 & 21
• P2.T5. Veronesi, Chapter 8
• P2.T5. Fabozzi, Chapters 1, 2 & 10
• P2.T5. Jorion, Chapters 6 & 11
• P2.T5. Dowd, Chapters 3,4,5 & 7

We will continue to refresh the remaining topics as the focus reviews are published.

Stay tuned for more!

Thanks,
Suzanne

Thanks Suzanne, very helpful! I added "P1.T2. Econometrics (Gujarati)--coming soon" because our streamline eliminated the Gujarati, but I definitely agree with @LL , see http://www.bionicturtle.com/forum/threads/gujarati.6132/

@salman Mustafa Baig,

Yes, absolutely. I will be publishing the refreshed T3 practice question documents today! Stay tuned

Also, David writes fresh practice questions daily (unless stated otherwise). See here: Today's Quiz

Thanks,
Suzanne

Salman, Your "feeling" is maybe not based in empirical observation. We've got a lot of detailed questions on both sub-topics you cite. With respect to "kindly post more practice questions," I write (and have for years) 3 daily new questions * 4 days per week. That's the schedule, and i can tell you it ain't going to get more aggressive since it's extremely time consuming ... and it's quite enough, especially given we strive for quality and, btw, it's a whole boatload more than anyone else (e.g., GARP itself writes a grand total of 45 new question a YEAR, of mediocre quality, many containing errors that we have to correct for them. We do that every three weeks. My point being that quality matters, not only quantity). So, I respectfully disagree, i disagree strongly in fact, with your comment, thanks,

... just to clarify, I mean: as the exam churns, we do always have some gaps (we target the gaps in the lower testability areas). But IMO the current gaps that we do have do not really include the two sub-topics that you cite (eg., we have utterly swarmed the Tuckman text). Re: econometrics, we have synthesis of prior Gujarati coming. We do have current T4 gaps i am trying to plug in the T4 overview (primarily VaR related). So .... thanks,

Choonho, please see http://www.bionicturtle.com/forum/threads/practice-questions-for-credit-risk.6173
We don't set future date expectations, it's just too much of communication burden; i.e., if i am delayed a day or two or several days, because, say, i am trying to achieve a quality standard, then it's just an additional communications burden. thanks,

@choonho,

We will not be writing any AIM for AIM practice questions until next year. The curriculum may or may not change. Right now, David is writing general topic questions in which we call:

Currently the focus is Focus Reviews.

Thanks,
Suzanne

Suzanne, you are so much better at answering this type of question, sorry i get frustrated with it Thank you!

@choonho,

I wouldn't necessarily say that it will be soon, but as soon as a set is complete we will publish a pdf. Currently Topic 4 will get a new question every other day (Monday - Thursday) so basically twice a week. There are already (4) general topic questions for Topic 4 (200-203).

See here: http://www.bionicturtle.com/forum/forums/p1-t4-valuation-risk-models.30/

I hope that helps.

Thanks,
Suzanne

Hi salman, yes, arbitrage is a big theme because pricing (valuation) depends on a no-arbitrage concept: all the basic derivatives (futures, options and swaps) and bond prices too. This is much of Topic 3 (products and markets) but also Topic 4 (valuation and risk models). The FRM sort of builds on pricing (valuation) in order to establish the foundation for risk measurement. Mostly, this refers to the Hull (derivatives) and Tuckman (bond) assignments. In practical terms, on the exam, I think a very large proportion of FRM questions that ask about the "arbitrage opportunities" are just pricing questions; e.g., question will give an option price and the arbitrage opportunity is the difference between the given price and, say, the price implied by put-call parity. But it must be studied specifically, in part to know when the difference (profit) is a present value or a future value. Thanks,

Hi CW,

Yes, the pdf's from April you are still able to utilize. We haven't had the opportunity to refresh T4 pdf documents yet but will definitely do so. When refreshing them David goes over the questions to make sure errors have been corrected (if there are any), we add links to provide quick discussion and access directly to the forum question and clean up the format if necessary. We also combine pdf documents if necessary to assist with cleaning up the study planner and providing better organization for our customers.

Don't forget to utilize the study planner: http://www.bionicturtle.com/my-account/study-planner

Thanks,
Suzanne

Hi mohanvenufrm - FRs 6/8 will publish this week and the remainder before the exam, we don't give specific days. Thanks for liking them,