2010 Financial Risk Manager (FRM)
World's best risk education. Period.
- Video tutorials
- Study notes
- Quality practice questions
- Actionable learning spreadsheets, and
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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
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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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Variance of a random variable [quantitative] 19 Mar 2010
AIM: Define, calculate and interpret the variance of a random variable. The expectation of a random variable X is called the mean and typically denoted by … read more
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Expected value of a random variable [quantitative] 19 Mar 2010
AIM: Define, calculate and interpret the expected value of a random variable. Expected value is the weighted average of possible values. In the case of a … read more
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Metallgesellschaft L1 [practice, foundation] 18 Mar 2010
33. In late 1993, Metallgesellschaft reported losses of approximately USD 1.5 billion in connection with the implementation of a hedging strategy in the oil futures … read more
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Statistical independence [quantitative] 18 Mar 2010
AIM: Explain the difference between statistical independence and statistical dependence. Statistical independence is when the value taken by one variable has no effect on the value … read more
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Marginal versus conditional probability [quantitative] 18 Mar 2010
AIM: Describe marginal and conditional probability functions. Marginal probability A marginal (or unconditional) probability is the simple case: it is the probability that does not depend … read more
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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
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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future / forward contract 19 Mar 2010
Pre-Gujarati 16 Mar 2010
Core Readings 15 Mar 2010
Question on T-Statistic 14 Mar 2010
basis risk 13 Mar 2010
Testimonials
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David, I've passed the 2008 exam. Thanks so much for the excellent material, you did a really great job on explain the difficult material for FRM exam. (smile) Best wishes, … Li Shi
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I passed the Full FRM exam at first attempt. Wanted to thank you for your notes, videos, practice questions (helped a lot for the actual exam) and above all your “timely … Banerjar
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I used those free materials on this website, your videos on youtube and read the forum, I really love them very much. Your material did help me a great deal in … Laura1987
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Featured Spreadsheets
The BT FRM Exam Prep Program is the most effective (and by far the most affordable) way to increase your odds for exam success. A total exam assistant with multiple modes of rich media learning.
Please see this page for more details.
- Dave This is an excellent demonstration. It is easily the best explanation I've seen on how to use the linest() function to perform a multi-variant regression. … 17 Mar 2010
- wow, thanks for explaining the differences, hope it'll work for my econometrics quiz on saturday! 17 Mar 2010
- 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
- Hi David, I wanted to Refine the source of the difference Between future / forward contract can i say it because the volatility (convexity adjustment) - …19 Mar 2010
- I will be taking the FRM exam for Nov 2010 part 1. I purchased the FRM Handbook (Jorion) and started reading the first chapter on Quantitative …18 Mar 2010
- Hi David, First of all let me take the opportunity to let you know that the spread sheets and the videos you had uploaded had helped …18 Mar 2010