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  1. Sixcarbs

    Excel NORM function question for your diehards.

    Hello fellow Turtles, Sorry I have been away so much. I have been preparing for CFA 2, working by day, and trying to start some side endeavors in whatever free time I have left. And parenting a toddler. Enough about me. I hope you are all feeling good about your FRM preparation as you come...
  2. Sixcarbs

    Current Event: ECB temporarily allows lower capital requirements for market risk

    Since one of the capital requirements is proportional to volatillity the ECB has lowered the multiplier to offset the higher volatility. Seems like a bad idea to me. Markets are all over the place, the higher capital requirements seem justified. But their game, their dice, their rules...
  3. Sixcarbs

    How many certified FRM's globally? In the USA?

    Hello, Does anyone know how many certified FRM's there are globally, and in the US? I have been googling for some time now and can't seem to lock down anything concrete. The closest figure that popped up was 50,000 globally, and it looked like that was from 2018. So, if anyone knows, and...
  4. Sixcarbs

    What is best BT resource to brush up on RWA?

    I think it falls under the Study Guide titled under Operational Risk in Part 2: Capital Planning at Large Bank Holding Companies Is it covered in any other section? Thank you, Sixcarbs
  5. Sixcarbs

    CFA June exams postponed, all levels.

    Just got the email that the June exams will be postponed. Sounds like worst case they will offer all three levels in December. I hope it is sooner than that. Strange days indeed.
  6. Sixcarbs

    Bond YTM- Excel (Goal Seek) vs BA II

    Hello All, Reviewing one of David's video and there is a very basic example of a bond. 2 years, 6% coupon, Semi-Annual Payments, $100 Face Value. Spot rates are: 5%, 5.8%, 6.4%, and 6.8% for .5, 1, 1.5, and 2 years. Bond values at $98.39. Fine. Calculate YTM using Goal Seek and come up...
  7. Sixcarbs

    David, please give the world a BT CFA course!!!

    Hi David, I know the reason is that GARP keeps you way too busy, but the CFA prep courses out there are nowhere near the quality of BT. Just wishing! Sixcarbs
  8. Sixcarbs

    Thoughts on IMC exam please, value and difficulty??

    As I sit here waiting for my CFA L1 results and my career experience validation from GARP, I was looking into the IMC certiificate. I think it is big in the UK. From what I can tell it is an "Entry level" exam. Has anyone here taken it? Anyone here taken it and also taken CFA L1? If I pass...
  9. Sixcarbs

    Anyone following the Repo market roller coaster

    I don't see a current events forum so I will put this here. It does have a lot to do with liquidity risk. A month or so ago the repo rates spiked to 10%, so the Fed stepped in with liquidity support. With what they have now pledged to add in December it will be about $500 billion in...
  10. Sixcarbs

    CFA Anyone here take level 1 on December 7th?

    Anyone else here take Level 1 on Saturday? Without going into question details, what did you think? I found it much easier than the FRM.
  11. Sixcarbs

    BT Mocks and Mini-Mocks question

    Hi, I am sorry if this is posted elsewhere, I did try several searches. Both Part 1 and Part 2, Full Mock #1's both say they are Mini-Mocks A to D combined into one. But the decscription for Full Mock #2, for both parts 1 and 2, make it sound like they are completely different than their...
  12. Sixcarbs

    Exotic options- How much time and brain space to devote?

    Hi, I was wondering what the consensus was around here about exotic options. Any thoughts on testability and how many of them we need to master? Thanks, Sixcarbs This is what GARP says. A lot of describe and explain. Chapter 26. Exotic Options [FMP–14] After completing this reading you...
  13. Sixcarbs

    Trap Answers on actual test??

    Hello, Just wondering, does the actual test have a lot of trap answers or not? Most of the PQ's here do not. A trap answer is an answer based on a common mistake that one might come up with. For example, not converting SA to Continuous. If the answer calls for one of them, but has choices...
  14. Sixcarbs

    Anyone else here having trouble sleeping because they keep seeing formulas in their sleep?

    I am studying so much that when I go to sleep I keep seeing formulas. Sometimes they are correct, but other times they have nothing to do with anything. It makes it hard to get a good night's rest. Burning the candle at both ends here.
  15. Sixcarbs

    Interpolating VaR by the hybrid method. Why create a false entry? (Allen)

    I am trying to interpolate the VaR using the hybrid method. Below is Table 1-3 from Allen. For the initial, (top half), for 5% I interpolate between .0447 and .0511 and -2.90% and -2.70%. I get 2.73%. .0500 is roughly 17% less than .0511 so 17% of the difference is roughly .03% which gives...
  16. Sixcarbs


    Hi, this is not about specific question but about the concept of Monotonicity. It did not seem intuitive to me when I read it and I was hoping it was an error, but I just watched the video and it is the same. IF Y>=X then rho(Y) <= rho (X) If Y returns more than X, than the risk of Y must be...
  17. Sixcarbs

    Physical Seeds for RNG's

    I just finished reading Brooks and watching David's video on Monte Carlo simulations. The age old problem of computer generated RNG's came up as not being truly random because they always require a seed. What we used to do when I had a commercial venture that required a true random numbers was...
  18. Sixcarbs

    Preparing for part 1- QA is a roller coaster

    I don't see a General Discussion area so I will put this here. Unfortunately I never took statistics in college, so all of this is new to me. I am using the GARP books and BT. I was struggling with it until Bayes theorem, then things seemed to click a little better. I found Stock and Watson...
  19. Sixcarbs

    CFA Does CFA Level I tell you your scores or just pass/fail?

    Hi. I keep reading that passing the CFA level I requires around 65% across each of the topics. When you get your results do they tell you your actual scores in each topic, or your percentiles in each, or do they just tell you pass/fail? Thanks
  20. Sixcarbs

    How am I doing and thoughts on BT after my first week or so.

    Not sure where to put this, I didn't see a general disccussion forum so I am putting it here. Mods, please move it if there is a better place for it. So I am roughly a week in. I read the first Garp book and all study notes on Foundations of Risk Management. I went though all of the...