2009 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.
We don’t have any competitors who are this transparent. Why is that?
Latest Blog
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VaR in a picture & explained in six words 03 Jul 2009
Like I did with a volatility chart, I updated our value at risk (VaR) chart for the video tutorials. If you want a clean breakdown of … read more
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Implied LGD from bond rates [practice, credit] 03 Jul 2009
This is a good sample question from GARP: first, it is not too easy and not too hard; this IMO is about typical of the … read more
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Gujarati 06.04 & 06.05 [practice, quant] 03 Jul 2009
Question 06.04: State whether the following statements are true, false, or uncertain. Give your reasons. Be precise. a. The stochastic error term ui and the residual … read more
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Merton model [practice, credit] 02 Jul 2009
The Merton model is a classic in credit risk. If you are interested in a few resources from last year: here is a 10-minute video … read more
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Gujarati 06.01 & 06.02 & Greek dart boards [practice, quant] 02 Jul 2009
It's hard to study definitions, I think. But studying terms in Gujarati is helpful: his precision forces us to contend with ideas. The definitions below … read more
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New volatility chart 01 Jul 2009
In preparation for upcoming tutorials on valuation and risk models (topic 4), I am refreshing some of the graphics--used in the video tutorials--to communicate value at … read more
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Can you spot the duration imprecision? [practice, market] 01 Jul 2009
The sample exam uses duration imprecisely but an instructive mistake - David [source: sample FRM Full Exam 1 Question 3. E1.03]. The following table shows the … read more
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Gujarati 05.19 and 05.20 [practice, quant] 01 Jul 2009
Gujarati 05.19: Refer to Example 4.14 in Chapter 4: Suppose a random sample of 20 observations from a normal population with variance (sigma^2) =8 gives … read more
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John Hull Focus bag – 1 hour video 30 Jun 2009
To the member page, I just uploaded a 1 hour 15 minute video tutorial “focus bag” devoted to the critical John Hull chapters. As customers … read more
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Hedge fund alpha [practice, investment] 30 Jun 2009
I think the given sample answer includes a reference (“non-synchronous” return data) to last year’s Andrew Lo assignment, for which I am not aware of … read more
Latest Training Video
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2009 3.b.ii. Markets & Products (sample) 12 Jun 2009
Hull: Option Trading Strategies (Chapter 10); MacDonald: Derivatives Markets (Chapter 6); Geman: Commodities and Commodity Derivatives (Chapter 1); Saunders & Cornett: Foreign Exchange – Ch. 14-15A; … read more
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2009 3.b.i. Markets & Products (sample) 12 Jun 2009
Hull: Option Trading Strategies (Chapter 10); MacDonald: Derivatives Markets (Chapter 6); Geman: Commodities and Commodity Derivatives (Chapter 1); Saunders & Cornett: Foreign Exchange – Ch. 14-15A; … read more
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2009 3.a.iv. Markets & Products (sample) 09 Jun 2009
John Hull Chapter 6 (continued), 7 and 9 read more
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2009 3.a.iii. Markets & Products (sample) 09 Jun 2009
John Hull Chapters and 6 read more
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2009 3.a.ii Markets & Products (sample) 01 Jun 2009
First ten minutes only (sample) of tutorial. read more
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2009 3.a.i Markets & Products (sample) 01 Jun 2009
First ten minutes (sample only) of this tutorial read more
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2009 2.c. Quantitative 14 May 2009
Rachev, Menn and Fabozzi on distributions read more
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2009 2.b. Quantitative 14 May 2009
Jorion on Monte Carlo and Hull on volatility estimation read more
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2009 2.a.ii. Quantitative 14 May 2009
Gujarati Chapters 6, 7 and 8 read more
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2009 2.a.i Quantitative (continued, sample) 04 May 2009
Quantitative 2.a.i. reviews Gujarati Chapters 1 through 5: basic probability ideas, key probability distributions (sampling distributions, in this case) and statistical inference. read more
Forum Q&A
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Implied LGD from bond rates (Question 8) 03 Jul 2009
Degrees of freedom 03 Jul 2009
Stress Test Covariance and Correlation Matrix 03 Jul 2009
Chebyshev’s inequality 03 Jul 2009
EVT distribution 02 Jul 2009
Testimonials
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Joining the party,I have also passed the FRM Exam. My scores are Market Risk - 1st quartile and rest all 2nd Quartile. I was expecting the credit risk and op risk … Rajesh Malghani
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Hi David, I have cleared my FRM examination. Although did not subscribe to Bionic Turtle [as would be evident i am a none too frequent poster on the BT website], i … Brijesh Negandhi
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Thanks David for putting together such a well organized, memory-enhanizing movie tutorial and slides. Anyone who sat through the FRM exam knows that the exam is indeed very tough. The material … Yvonne, San Francisco
Featured Links
Featured Spreadsheets
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- Thanks David for putting this together. Would it be OK also to give us answers to the questions at the back of each Hull's chapter (or … 03 Jul 2009
- Hi Jack - Sure thing, glad you find useful...more like this on the way! David 02 Jul 2009
- Hello David, Thank you very much for putting together this practice bag! 02 Jul 2009
- Hello David, I’ve seen the terms “covariance matrix” and “correlation matrix” a couple of times now, and I think I roughly know what they are and …03 Jul 2009
- Hi David I believe It is one of the most basic doubt while going through the readings of Gujarati .I would like to know the intuition …03 Jul 2009
- Hello David, I think this is a really simple question but if EVT tries to “zoom in” on the LFHS loss events, and we are dealing …03 Jul 2009