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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Bucket shift L2.T5.38 [practice, market] 29 Jul 2010
AIM: Describe the relationship between key rate and bucket exposures. Explain the main differences between the key rate shift and the bucket shift approach to … read more
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APT factor forecast L1.T1.38 [practice, foundation] 29 Jul 2010
AIM: Describe the difficulties involved with factor forecasting. Questions: 38.1 Assume a manager can forecast expected returns on 40 stocks but she can only forecast … read more
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Exchange for Physical and agreement and an Alternative Delivery Procedure [products] 29 Jul 2010
AIM: Define and differentiate between an Exchange for Physical and agreement and an Alternative Delivery Procedure Exchange For Physical An EFP is an agreement between a … read more
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Hedging a spot position [products] 29 Jul 2010
AIM: Identify a commonly used measure for the effectiveness of hedging a spot position with a futures contract; use this measure to compute and compare the … read more
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Lognormal value at risk (VaR) [video] 28 Jul 2010
I like this exercise because it applies key building blocks; i.e., lognormal property of stock prices, mean/median in skewed distribution, and one- versus two-tailed deviate. … read more
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Key rate immunization L2.T5.37 [practice, market] 28 Jul 2010
AIM: Discuss why hedges based on key rates only approximate an immunized position in the underlying assets. Questions: 37.1 Perfect immunization hedges against which of … read more
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Qualified APT model L1.T1.37 [practice, foundation] 28 Jul 2010
AIM: Describe the properties of a qualified model in the context of the APT. Questions: 37.1 Portfolio Q is ... a. The Minimum Variance portfolio … read more
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Basis risk and variance of the basis [products] 28 Jul 2010
AIM: Define basis risk and the variance of the basis There are several types of basis risk: In the case of a trading desk which needs … read more
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Arbitrage porfolio [products] 28 Jul 2010
AIM: Describe an “arbitrage portfolio” and explain the conditions for a market to be arbitrage‐free If a portfolio requires a null investment and is riskless (there … read more
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Key rate shift selection L2.T5.36 [practice, market] 27 Jul 2010
AIM: Discuss some of the considerations in choosing key rates. Questions: 36.1 What is the primary problem (according to Tuckman) associated with, or created by, … read more
Latest Training Video
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2010 9.b Current (sample) 23 Apr 2010
Systemic Risk in the Financial Sector: An Analysis of the Subprime-Mortgage Financial Crisis by Martin Hellwig; Shareholder Report on UBS’s Write‐Downs; This Time is Different: A … read more
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2010 9.a Current (sample) 23 Apr 2010
The Panic of 2007 by Gary Gorton; “Has Financial Development Made The World Riskier?” by Raghuram Rajan; Observations on Risk Management Practices during Recent Market Turbulence. … read more
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2010 8.d Investment (sample) 09 Apr 2010
Risk Budgeting for Pension Funds by Michelle McCarthy (Chapter 6). Deleveraging after Lehman—Evidence from Reduced Rehypothecation” (Singh and Aitken). Finding Bernie Madoff: Detecting Fraud by Investment … read more
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2010 8.c Investment (sample) 09 Apr 2010
René Stulz, “Hedge Funds: Past, Present and Future.” Risk Monitoring and Performance Measurement (Chapter 17) Robert Litterman read more
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2010 8.b Investment (sample) 09 Apr 2010
Individual Hedge Fund Strategies by Lars Jaeger (Chapter 5). Value at Risk, 3rd Edition: Portfolio Risk: Analytical Methods (Chapter 7) and VaR & Risk Budgeting in … read more
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2010 8.a Investment (sample) 09 Apr 2010
Active Portfolio Management by Grinold: Portfolio Construction (Chapter 14) and Performance Analysis (Chapter 17). Funds of Hedge Funds by Sohail Jaffer (Chapter 6). Hedge Fund Style … read more
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2010 7.e Operational (sample) 27 Mar 2010
Guidelines for Computing Capital for Incremental Risk in the Trading Book (Basel, July 2009). Revisions to the Basel II market risk framework (Basel, July 2009). Supervisory … read more
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2010 7.d Operational (sample) 27 Mar 2010
Basel II: International Convergence of Capital Measurement and Capital Standards: A Revised Framework. Principles of Sound Liquidity Risk Management and Supervision (Basel Committee September 2008); Range … read more
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2010 7.c Operational (sample) 27 Mar 2010
Deutsche Bank’s “LDA at Work” by Falko Aue and Michael Kalkbrener. What We Know, Don’t Know and Can’t Know About Bank Risk: A View from the … read more
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2010 7.b Operational (sample) 27 Mar 2010
Aligning Basel II Operational Risk and Sarbanes‐Oxley 404 Projects; Risk Management and Capital Adequacy in Financial Conglomerates; Enterprise Risk Management (ERM) read more
Testimonials
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Hi David, It was not tough but too much time pressure. Could not finish. 100 questions is overwhelming, especially toward the end of the exam had to guess a lot though … Dinesh_t
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Hi David, I’m very impressed with this website and the services you are providing. It was highly recommended by a colleague of mine that passed the exam last year. … Arne Martin
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I passed FRM part 1 exam I am thankful to David for excellent material and videos thanks again Hello
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- Infact I have a question on ROIC. Is it useful to calculate ROIC for a long period say 10 years at one a time. Say if … 23 Jul 2010
- is there a link to this webinar? 22 Jul 2010
- helo...can I get the theory based the calculation of VaR like what you published above?? I have never seen the journal that shows calculation like it.... … 20 Jul 2010