I passed the FRM 2009 exams. Thank you for your movie tutorials and your forum.
Bionic turtle is a good supplement to Core Reading and GARP Practice Questions.
I found the morning session tough as i did not have enough time towards the end.
But i persevere with the afternoon...
Yes, morning session was a real shocker. Put it down to nerves and also the questions were very long and sometimes very uncharacteristics which may throw one into a panic. But afternoon session was plain sailing as there seem to have less calculations questions.
My observations are...
I have two questions.
1. Is the Credit PortfolioView model described in Desevigny Chapter 6 (in Core Reading Year 2008) the same as the McKinsey & Co/Wilson model in Chapter 20 (in Core Reading 2009)?
2. From Desevigny Chapter 6 the description of the model stops at generating...
Reading Linda Ellen Chapter 3 and comparing with Jorion Value at Risk Chapter 10, have given rise to a source of confusion for me regarding what is the full valuation method for VaR?
Linda Ellen says "Full revaluation method calls for revaluation of the derivative at Var of the...
Thanks, David. Good point. That was very helpful.
I personally think your FRM tutorials are the best value.I would recommend to anyone ,in particular those who are budget conscious in these economic times. So don't worry about the crowding out of your business. Appreciate very much that you...
I am also interested to purchase the Handbook. Main attraction is the interactive CD containing the FRM questions. Do you think after reviewing the Handbook, the questions are any good? Or would you think the FRM Practice Questions from 2006-2009 that i have should be sufficient...
Thanks so much for posting the 2009 FRM Guide with highlights in yellow for new core readings compared with 2008 Study Guide.
It was a great help. I would like to add the following which are also new after comparing the two study guides (pls let me know whether you agree with me)...
Managed to successfully download after 20 tries. The downloading keeps terminating. But after each failed attempt, will start again with the same file and it will update where i left off so not so bad. Wanted to share this with other people who may have the same problem.
I seem to have problem opening the above pdf file on this website. The error that keeps coming up saying " AXWIN Frame Window AcroRd32.exe Application error".
Alternatively, i have also tried downloading it but the downloading always seems to terminate mid way before i managed to...
With regards to the above questions in the random set , i am curious why the chi square test statistic used is n*(sample variance)/(population variance) instead of (n-1)*(sample variance)/(population variance)?
I seem to have a problem in opening the 2008 study notes for credit risk in pdf format. The message says there is an error opening the file and it was damaged. Not sure whether anyone here has the same problem.
In the Ong reading on Portfolio Effects, the author said "risk contribution is the single most important measure in credit portfolio management". The reasons given are
1. It enables the risk profile of the portfolio to be modified by changing the risk characteristics of an...
Yes, i appreciate the last point you made on the UL. I have found that confusing at first when going through the Ong reading so your screencast helps to clarify this matter.
I have a question on the recovery rates. In the De Servigny 's :Loss Given Default, there are 4 and 7...
Hi again David,
I think my observation above on the UGD may be flawed. Further down the reading, i noticed that the UGD is actually an option given to the borrower by the bank in exchange for a option premium for the privilege to draw on the unused commitment in the event of financial...
In the Ong's reading on Loan Portfolio and Expected Loss, the calculation of the adjusted exposure includes the term UGD*Commitment where UGD= Usage given default or % drawdown.
Ong says " In the event of default,an unrestricted committment has the same risk exposure as a term...
Thanks for the article attached. It's good reading.
Just to share with you some of the interesting things i read somewhere .The default probabilities calculated from the equity prices using the Merton 's model N(-d2) are risk-nuetral default probabilities, where d2 uses the...