Addy
New Member
Hi, Just finished the exams today in Dubai. It was reasonably difficult but can be done with some grasp on basic concepts..
let me know how you guys felt about it..
let me know how you guys felt about it..
FRM Part 1 : Exam Done in Dubai 2011
- Thread starter Addy
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Mohamed Sakr
New Member
Done in Riyadh! I followed a strategy to leave long unclear questions till the end .. by the time I reached question 100, I had only 30 minutes left and about 30 questions undone! Spent around 10 minutes transferring my answers to the answer sheet. and 20 minutes were mainly to "quickly solving", "reverse engineering", "intuitive guessing", and "arbitrary guessing". I would say 10, 5, 10, 5. Though, I failed to transfer some of them later to the answer sheet by the time the proctor said "Stop Writing"!
Let's hope for the best! I'll get back to your on Jan. 4th 2012
Let's hope for the best! I'll get back to your on Jan. 4th 2012
Hend Abuenein
Active Member
Done in Muscat some 6 hours ago...rather easier than May
Wrong question no.22 ...asks for volatility but gives nothing near it in choices...only it gives the variance to the third digit (ironic ha? we discussed this a few days ago)
I have this to say about question policy (IMHO):
1- no more "closest to", "nearest to"...though I needed that bcz some answers were different after second digit (I don't approximate)
2- First time I see the first page of information : They added a page in the beginning saying so and so abbreviations mean this and that...oh yes, and all rates are annually discounted unless question says otherwise (Thank you David )
3- I felt that some topics were over tested at the expense of others : eg. were there 6 OLS questions or do I think so? Same for cost to carry, at least 4.
4- towards the end of the exam calculations became more difficult and, I mean questions more intense with more steps for calculations.
5- True to their old style, there were a few intriguing questions worded in complex form, I'm sure idea was obtainable but needed some more time for those but couldn't afford it
6- Some questions were so easy I just stared at them looking for the trick!!! (About 5 or
of those)
7- I want to know the answer to that question that gives 3 market condition probabilities, 3 sovereign portfolios and their payoffs under each condition, then asks for which portfolio has an opportunity for arbitrage??!!!! David, please help with that, thank you. I had to guess that one.
If I remember anything else form the questions, I'll be sure to write it here.
Good luck to all
Wrong question no.22 ...asks for volatility but gives nothing near it in choices...only it gives the variance to the third digit (ironic ha? we discussed this a few days ago)
I have this to say about question policy (IMHO):
1- no more "closest to", "nearest to"...though I needed that bcz some answers were different after second digit (I don't approximate)
2- First time I see the first page of information : They added a page in the beginning saying so and so abbreviations mean this and that...oh yes, and all rates are annually discounted unless question says otherwise (Thank you David
)3- I felt that some topics were over tested at the expense of others : eg. were there 6 OLS questions or do I think so? Same for cost to carry, at least 4.
4- towards the end of the exam calculations became more difficult and, I mean questions more intense with more steps for calculations.
5- True to their old style, there were a few intriguing questions worded in complex form, I'm sure idea was obtainable but needed some more time for those but couldn't afford it
6- Some questions were so easy I just stared at them looking for the trick!!! (About 5 or
of those)
7- I want to know the answer to that question that gives 3 market condition probabilities, 3 sovereign portfolios and their payoffs under each condition, then asks for which portfolio has an opportunity for arbitrage??!!!! David, please help with that, thank you. I had to guess that one.
If I remember anything else form the questions, I'll be sure to write it here.
Good luck to all
Hend Abuenein
Active Member
hmmmm...probably true
It was 0, 150 and 250 something in the respective economies.
As the investment is risk-free (no loss), the potential earnings should have been risk free. But, we see possible positives. Arbitrage.
We could borrow at the risk-free rate and invest in the portfolio.
That is what I feel.
As the investment is risk-free (no loss), the potential earnings should have been risk free. But, we see possible positives. Arbitrage.
We could borrow at the risk-free rate and invest in the portfolio.
That is what I feel.
Hend Abuenein
Active Member
Thanks Lankylint..I felt it was a bit tricky...but the concept behind is not so hard to grasp
On many occasions, I computed many values and in the end realized that it was a trick question.
For example, the forward rate/spot rate question. I spent a couple of minutes comparing all the options only to realize that the two can't deviate by definition.
I found the paper easy. Maybe it is because I over-prepared. Must have gone through schweser 3-4 times.
For example, the forward rate/spot rate question. I spent a couple of minutes comparing all the options only to realize that the two can't deviate by definition.
I found the paper easy. Maybe it is because I over-prepared. Must have gone through schweser 3-4 times.
Hend Abuenein
Active Member
Happened to me on some 3 occasions in the exam.
I answered pretty well, can say I have at least a good number of 100% definitely correct answers, but I can never say I'm confident of passing, not low confidence but knowing how GARP trick you into falling into a wrong answer and finding it in the choices
Really mean if you ask me
I answered pretty well, can say I have at least a good number of 100% definitely correct answers, but I can never say I'm confident of passing, not low confidence but knowing how GARP trick you into falling into a wrong answer and finding it in the choices
Really mean if you ask meYes I know that feeling. However, going through the practice questions, I am usually able to figure out if I am being tricked. The answer doesn't make sense for long if I am being tricked.
Some questions I absolutely loved. They tickled my analytical bone. Others, like the first question? were too easy.
Some questions I absolutely loved. They tickled my analytical bone. Others, like the first question? were too easy.
Hend Abuenein
Active Member
True Some questions were very delicious
Some questions were very delicious
Hend Abuenein
Active Member
So where's David? packing for thanksgiving trip to family I suppose? Thought he'd be eager to get our feedback
Hend Abuenein
Active Member
Hend Abuenein
Active Member
Call me an idoit but I can only remember the number of question and that it asked for vol which I computed and double checked and found no matches in the choices given, but found a very close match to the variance. I don't think that helps any, does it?
but I can only remember the number of question and that it asked for vol which I computed and double checked and found no matches in the choices given, but found a very close match to the variance. I don't think that helps any, does it?
Hend Abuenein
Active Member
The variance choice was close to 0.0374. it's really difficult to remember when question is purely numeric.
Hend Abuenein
Active Member
No..that's not the one.
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