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mine is 1-1-1-1-1 for level 2. I think I only certain about 40~50% question in the exam20~30% educational guessing (choose between two best choices) and about 20~30% no idea what's going on.

@David Harper CFA FRM CIPM Thanks for your reply. I think my point in the second post is correct. The dataset that described in Hull and White's paper is not the realized dataset (i.e the reality data). Rather, the dataset is obtained from tradtional monte carlo simulation. I think we need...

I do some research on the White hull's paper. I think both schweser notes and study notes makes the bunching definition very misleading. i.e The bunching is defined to be the tail events tend to happen in close succssion. This defintion is taking the sentense out of context from original...

In the Reading 34, regarding to the Hull and White approach. The bunching is defined to be the tail events tend to happen in close succession. Later, Hull and White Measure claims its advantage is to greatly reduces bunching. However, this is my question: I think bunching is a nice...