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Recent content by cmfrtblynmb209

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    Exam Feedback May 2019 Part 2 Exam Feedback

    I probably spent less on part II than part I, but it's not something that I tracked. If I had to guess, I'd say 80-100. Many of the topics - particularly in market risk and operational risk - were highly familiar to me. The work experience absolutely cut down on required study time for both...
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    Exam Feedback May 2019 Part 2 Exam Feedback

    Certified this morning, email at 9:40am EST. Submitted on 6/28, not particularly early... maybe 11:00am EST. My experience was a pretty clear cut case, however, which may have helped. Thirteen years as a financial institution regulator specializing in market risk, liquidity risk, and capital...
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    Exam Feedback November 2018 Part 1 Exam Feedback

    I'd call the ability to bypass logical security measures and access hidden data by simply changing the date on your phone a pretty weak cybersecurity measure. Admittedly not a ton of risk in this particular case, but it wouldn't make me feel good about, for example, keeping a credit card number...
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    Exam Feedback November 2018 Part 1 Exam Feedback

    I guess we DO get one reading on it now...
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    Exam Feedback November 2018 Part 1 Exam Feedback

    I can't believe that that trick works. What a terrible website. I guess cybersecurity isn't a core part of the curriculum... Passed, 1111.
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    Exam Feedback November 2018 Part 1 Exam Feedback

    I see your point. I've been thinking about this question for a while post-test, and I think you may be right - could be a case where either Poisson or Binomial will get you there (more or less) as long as you set up the problem correctly. I remember that using Poisson I didn't get an exact...
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    Exam Feedback November 2018 Part 1 Exam Feedback

    Actually, I think that you can assume that lambda = 60*.05. Each one-day VaR is, by definition and convention, an independent event. So every day (independent event with potential outcomes [break, no break]), there is a 5% chance of the 1-day VaR being exceeded. If you were to take a 100 day...
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    Exam Feedback November 2018 Part 1 Exam Feedback

    Correct re: the FX question. As I recall they were net short the currency.
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    Exam Feedback November 2018 Part 1 Exam Feedback

    I'd estimate maybe 100 hours. Could be more, but nowhere near your 250-300. To be fair, I have a career background (10+ years) in financial risk management, including ERM, VaR concepts, MBS and structured products, etc.
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    Exam Feedback November 2018 Part 1 Exam Feedback

    I recall the most logical answer being something along the lines of the credit spread could change without a change in the underlying (Treasury, LIBOR, etc) rate.
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    Exam Feedback November 2018 Part 1 Exam Feedback

    My memory isn't completely clear on the question at hand, but there was one apparently straightforward duration/convexity price change question that gave you both D and C. However, the C that was given was negative. I have no doubt that they would have had a dummy answer there to catch anyone...
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    Exam Feedback November 2018 Part 1 Exam Feedback

    Impressive recall.
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    Exam Feedback November 2018 Part 1 Exam Feedback

    There is no defined threshold, and nobody but GARP knows the exact methodology. David has discussed this a number of times on different threads in the forum. It seems that in some way, GARP scales off of some view of the 5th quantile of test takers. So something about the top 5% of test...
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    Exam Feedback November 2018 Part 1 Exam Feedback

    I only vaguely recall the first question you're referencing. I thought it asked about the difference/increase in EL, in which case you'd clearly have had to calculate EL for both loan values and compare. The second I recall more distinctly, and I believe it was the variance that you were asked...
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    Exam Feedback November 2018 Part 1 Exam Feedback

    Definitely having a few of those doubts myself! I suppose most of us are.
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