2010 Financial Risk Manager (FRM)
World's best risk education. Period.
- Video tutorials
- Study notes
- Quality practice questions
- Actionable learning spreadsheets, and
- Forum Support
Your Instructor
David Harper, CFA, FRM, CIPM
- Track record helping candidates pass
- Deep experience in all risk disciplines
- Pioneer in web-based instruction
- Built all spreadsheets (detail oriented)
- Chartered Financial Analyst (CFA)
- Financial Risk Manager (FRM)
- Performance Measurement (CIPM)
Video Tutorials
The best videos in the business!
We were an early pioneer in web instruction. Each year, we improve our unique brand of visual communication to bring you better, more efficient learning.
Practice Questions
Hand-crafted for boot camp
Anybody can copy you a dumpster of stale, lame questions.
But the quality of your practice determines your result. We pride ourselves on writing the best questions ... to get you in fighting shape for the exam.
Learning Spreadsheets
Because doing is learning
- Inventory of Learning Spreadsheets
- Almost all of exam’s difficult concepts
- Candidates often use in their work
- MS Excel or online EditGrid
We get the best results
Because to us, it's customer (candidate) service
We earn the highest marks for customer satisfaction. But don’t take our word for it: Our forum contains 100% unsolicited, unfiltered feedback.
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Latest Blog
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Does risk management add value L1 [practice, foundation] 17 Mar 2010
32. There are many reasons why risk management increases shareholder wealth. Which of the following risk management policies is least likely to increase shareholder wealth? [source: … read more
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Univariate versus multivariate [quantitative] 17 Mar 2010
AIM: Distinguish between univariate and multivariate probability density functions A single variable (univariate) probability distribution is concerned with only a single random variable; e.g., roll of … read more
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Density functions: pmf/pdf [quantitative] 17 Mar 2010
AIM: Describe and interpret the probability mass function, probability density function, and cumulative density function for a random variable. A random variable is characterized by a … read more
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Cotton forward price L1 [practice, products] 16 Mar 2010
31. The current spot price of cotton is USD 0.7409 per pound. The cost of storing and insuring cotton is USD 0.0042 per pound per … read more
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Bayes’ theorem [quantitative] 16 Mar 2010
AIM: Define Bayes’ theorem and apply Bayes' formula to determine the probability of an event. Bayes Theorem uses a prior probability to inform a conditional posterior … read more
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Relative frequency [quantitative] 16 Mar 2010
AIM: Describe the relative frequency or the empirical definition of probability. Relative frequency is based on an actual number of historical observations (or Monte Carlo simulations). … read more
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Our CDO image appears in an academic paper 15 Mar 2010
P.M. Vasudev, a Senior Lecturer at the University of Auckland (Department of Commercial Law) will publish a paper in the forthcoming Integrated Risk Management and … read more
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Bond volatility L1 [practice, valuation] 15 Mar 2010
30. John Flag, the manager of a USD 150 million distressed bond portfolio, conducts stress tests on the portfolio. The portfolio’s annualized return is 12%, … read more
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Random variables [quantitative] 15 Mar 2010
AIM: Define random variables, and distinguish between continuous and discrete random variables. We typically characterize (describe) a random variable with a probability distribution. The random variable … read more
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Probability of event [quantitative] 15 Mar 2010
AIM: Define the probability of event. The probability of an event refers to the classical or a priori definition: For example, consider a craps roll of … read more
Latest Training Video
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2010 6.e Credit (sample) 13 Mar 2010
Stulz, Risk Management & Derivatives: Stulz: Credit Risks and Credit Derivatives (Chapter 18). Ong, Internal Credit Risk Models: Portfolio Effects: Risk Contributions and Unexpected Losses (Chapter … read more
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2010 6.d Credit (sample) 13 Mar 2010
Hull, Options, Futures, and Other Derivatives (7th Ed): Credit Risk (Chapter 22); Credit Derivatives (Ch 23). Linda Allen et al: Extending the VaR Approach to Non‐tradable … read more
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2010 6.b Credit (sample) 13 Mar 2010
Innovations in Credit Risk Transfer: Implications for Financial Stability by Darrell Duffie. Christopher Culp, Structured Finance and Insurance: Credit Derivatives and Credit‐Linked Notes (Chapter 12); The … read more
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2010 6.c Credit (sample) 13 Mar 2010
de Servigny and Renault, Measuring and Managing Credit Risk. Default Risk: Quantitative Methodologies (Chapter 3); Loss Given Default (Ch 4) read more
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2010 6.a Credit (sample) 13 Mar 2010
Understanding the Securitization of Subprime Mortgage Credit by Ashcraft and Schuermann. Measuring and Marking Counterparty Risk by Canabarro and Duffie. read more
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2010 3.f Market & Products (sample) 12 Mar 2010
Saunders Foreign Exchange Risk (Chapter 14) and Sovereign Risk Exposure (Appendix 15A). Fabozzi Fixed Income: Corporate Bonds (Chapter 13) read more
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2010 3.e Market & Products (sample) 12 Mar 2010
John Hull's Options, Futures & Other Derivatives. Trading Strategies Involving Options (Chapter 10). MacDonald, Commodity Derivatives (Ch. 6); Geman, Commodities and Commodity Derivatives (Ch. 1) … read more
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2010 3.d Market & Products (sample) 12 Mar 2010
John Hull's Options, Futures & Other Derivatives. Swaps (Chapter 7). Properties of Stock options (Chapter 9) read more
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2010 3.c Market & Products (sample) 12 Mar 2010
John Hull's Options, Futures & Other Derivatives. Determination of Forward and Futures Prices (Chapter 5). Interest Rate Futures (Chapter 6) read more
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2010 3.b Market & Products (sample) 12 Mar 2010
John Hull's Options, Futures & Other Derivatives. Hedging strategies using futures (Chapter 3). Interest rates (Chapter 4) read more
Forum Q&A
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Pre-Gujarati 16 Mar 2010
Core Readings 15 Mar 2010
Question on T-Statistic 14 Mar 2010
basis risk 13 Mar 2010
2nd 2010 Live Webinar Review (Level 2): Saturday April 3rd at 9 AM US 13 Mar 2010
Testimonials
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Hi David and Suzanne! I AM PUMPED!!! I passed the 2009 FRM exam! Thanks so much for all your hard work on those tutorials and answering my questions along with everybody … Trevor
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Very timesaving when preparing for the FRM. Respondant to BT FRM Course survey sent 1/14/2010
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The Bionic Turtle's FRM Preparation Course has helped me very much in passing the Level 1 exam. The tutorials and spreadsheets are very stimulating and motivating especially when one has to … Respondant to BT FRM Course survey sent 1/14/2010
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Featured Spreadsheets
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- Hi Carolina, I don't like my last comment, either, as I was just trying to reconcile. Sorry, I don't quite follow your distinction. While acknowledging there … 15 Mar 2010
- Potomoc, Thanks for your adding the Lehman report, I really appreciate it ... now just need to find the time to somehow digest some portion of … 15 Mar 2010
- Another addition to your excellent list is the Lehman brothers holdings bankruptcy report. It was written by Court-appointed examiner Anton Valukas of Jenner& Block and totals … 15 Mar 2010
- Dear fellow BT members: Can you recommend good INTRO books that will make the assigned Gujarati chapters easier to comprehend? I am currently browsing the following …17 Mar 2010
- Hi David, I the core readings, I found it is very difficult to follow the book on Derivatives Markets by McDonald. Please suggest to me which …17 Mar 2010
- David is going to conduct our 2nd 2010 FRM review webinar on Saturday April 3rd at 9 AM U.S. EST. What time is that for you? …17 Mar 2010