Director of FRM Operations
N(d2) was 100-63=37%. And N(d1) was as given.The exam was a bit lengthy considering tediousness involved in some questions, hence time became an issue for me, leaving few unanswered. BSM question gave N(d1)= 63% and the probability of no exercise as = 48% if my memory serves me well. I had a battle with this. On copulas GARP had the 2nd Random variable as sqrt(1 - rho^2)z1 instead of srqt(1- rho^2) Z2..
I had to literally search for quant questions in the last 1 hour to make my % attempt equal in all sections as there were only 10-12 quant ques i suppose and out of those 10-12 question 4-5 question were from new chapter(what a mockery). Operational risk, MBS, Forex, CRO roles/responsibility, Garch, MA/AR/ARMA were the most favourate GARP topics with added complexity.I must say, it was very very tough, lengthy, subjective. There were hardly any questions on Binomial, BSM, Option Greeks except 4 to 5 questions. More weitage was given to all new chapters. i could remember there were 10+ question from forex and MBS.