Hello,

Here is my feedback:

- Too many numerical, and quite a few lengthy ones. Epecially MVars and Comp Vars. The numbers were too huge to calculate on the calculator.

- the QQ plot question was repeated from the GARP practice paper, with thick tails.

- 3 case studies. with theoretical questions.

- 2 CVA related calculations.

- 1 CDS spread calculation question

- One netting and without netting calculation. But I could not get a matching choice for the netting , because my answer was not available in the choices.

- 1 question on joint probability of default. Not a direct one though. They had provided the individual probabiities of default for 3 different Bonds. and than provided the correlation matrix for the 3 bonds. And the choices were around checking which pair had the maximum default probability. Tricky part, oneof the hoice was A defaults and B does not default. Now that is new.

- Cr Var using IRB approach. They had provided the Cr Var, PD and all other inputs and expected us to calculate WCDR I believe

- One question on KMV, which was pretty easy but tricky to understand, They gave all the data required to calculate the Distance to Default and than expected you to map the credit rating from a mapping table for PD ranges and their respective credit ratings

- Lot many answers for me were either C or D options.

- Many questions had too many variable provided int he question, than actually required for solving the numerical. And often using a set of variable will give you different results. And the tricky part is, each of those wrong workouts will show up one of the figures available in the answer choices

- I could not complete last 7 questions, as I ran out of time. I was able to complete the GARP practice exam within 3 hours and scored 65% on it. But here there wasnt sufficient time available. And in my paper all the numerical were mostly in the initial questions, and the theoretical ones were clubbed at the back. So I fel bad to have missed out 7 theoretical questions. This might decide the result of my exam. When the bell rang for last 15 minutes, I marked A for all the last 10 questions (to be consistent with law of averages, because all my answers were C or D. And me being oversmart might actually work against me. Fingers crossed). After marking the 10 questions as A, i was able to work out 3 of those questions, whcih I revised in the answer sheet. And hence a total of 7 were missed out.

More questions, I will think of and post.

Cheers !

Sriniwas

## Stay connected