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Hi David, I found an extensive discussion in your 2012 Credit Risk 6.b video on the topic of CVA. This video has not been updated in the 2013 Part 2 package, so I assume it is still relevant. However, I found that there is hardly any mention of CVA in the aims for part 2. All I found was this...

I bought the tier 3 FRM Part2 package from BT. I am contemplating whether I should buy Schwesser notes as well. Can people who have done Part 2 make a recommendation whether it makes sense to also get Schwesser notes in addition to BT?

Would people who have passed P2 recommend getting BT + Core Readings or BT + Schweser notes?

my quartiles were 3, 2, 2, 2. Looks like I barely passed.

Wow, what a 4th of July surprise! I passed. Thank you very much to David. This would not have been possible without you!

hi Noalv4 To each his own really. I have seen people on this forum attempt and pass both levels on the same day. I took Level 1 in May and I am not confident I will pass, so already making plans to start again after July to prepare for Nov exam :) but I am only planning on attempting Level 1.

Did the proctors not announce the time every fifteen minutes? In San Francisco, there were no clocks in the room, however the proctors wrote the time on the board every 15 minutes. I actually preferred it that way as it saved me the time of looking at the clock every few minutes. They also...

There was a question about portfolio volatility where individual volatilities of two instruments were 13.4 and 11.1 or something along those lines.

As did I

I went with option before boundaries option. I think it is "all risks that affect an organization or entity" or something along those lines.

Does anyone remember how they answered the probabilty question Bond A and Bond B prob of default is 4%. If Bond A defaults 80% prob that Bond B will default. I think choices were .90, .94, .96 and one in 80s.

I struggled with some quant questions too, but I agree with you. There were at least 25 or more qualitative questions on the exam. I went in underprepared for that number of questions. I was surprised on the amount of focus on data quality. There were at least 2-3 questions.

I found the exam very difficult. The biggest issue was time. I went through the whole 100 questions answering anything I could without spending too much time. When I was done with that I probably still had about 45 or so questions left and I only had about an hour left. I ended up making random...

Thank you!

Hello, When a Dividend is given as $ amount how does that impact the D1 calculation? Do you use the ln(S0*De^-rt/k) amount instead of ln(S0/k)? When a dividend is give as % amount how does that impact the D1 calcuation? Do you subtract dividend from r as (r-q)+sigma^2/2) Thanks.

Hi vjrao, Thanks for the response. Do you mind telling me what part of the campus you parked at? From what I understand, most of the parking is reserved and I believe the exam is in Kalmanovitz Hall.

What is the parking situation like at USF? I was thinking of driving to the exam rather than take public transit.

12.11.6 You are bearish on the market (you think the market will go down) so you decide to use the following options, all with the same maturity: buy a put with K = $49 for $8, sell two puts with K = $40 for $5 each, and buying one put where K = $49 for $3. If at maturity the underlying trades...

Thank you for the clarification!

19.12.1 The current price of a stock is $10, and it is known that at the end of three (3) months the stock's price will be either $13 or $7. The risk-free rate is 4% per annum. What is the implied no-arbitrage price of a three-month (T = 0.25) European call option on the stock with a strike...