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Does anyone recall from previous years how long it takes GARP to release the pass rate for the exam?

I passed Part 2 as well! 1st quartile in 3 out of 5 sections. I used BT for both parts and it was a huge help. Thanks again for your great service. And thanks David for all of your timely responses to questions during the week of the exam.

Good point. Who knows, you could be right since it didn't mention interest rates specifically. This is a common theme that there are often 2 answers that seem like they could be correct and it sometimes comes down to how the question is interpreted.

@AG- I just noticed that your question was referring to the MBS tranches rather than the Bullet/Barbell. I actually just copied that explanation over from a different user's post, but I agree with that answer. The materials said that discount bonds have a direct relationship, while premium...

@AG- I am almost positive that I remember reading in the materials that the Barbell will have greater convexity since it is maturity squared, however, that doesn't mean that it will have greater duration. That's the first reason. The second is that the question mentioned that they were both...

I think this question is missing from the consolidated list of 50... MBS prepayment speeds - this one i was quite certain (i think ;)) the tranche priced at premium will decrease in value when prepayment speed is increased and the tranche priced at discount will increase in value when...

By the way, I found that my notes regarding the diversified risk aggregation method came from the ERM reading.

Regarding the questions where there have been different opinions - I also calculated LVAR based upon exogenous only and used 3 for the “z” of the spread since this was given in the equation. I first used 1.65, but didn’t get an answer listed then used 3 and got an answer. - I think...

41) Gross incomes for previous 3 years , outsoursing commisions for previous 3 years, and profit from equity sale in last year are given. What is the ORC(BIA). The problem is there is no answer if we use only gross income data. So we should use another data somehow. Pls explain. For this...

A couple that I'm still not sure about... 13. Expected shortfall at 95.5 when VaR at 96 to 99 was given - So does this end up just being the same as ES at 95, which is taking the average of the last 4 VARs? That's what I went with. I tried taking away half of the 4th lowest VAR, but there was...

A few others not mentioned yet... 1) A question asking about the characteristics of volatility weighted historical simulation - the correct choice was that it is based upon the current volatility. There was another choice saying that it is based upon forcasted volatility, but I think that was...

I have conflicting information in my notes regarding risk aggregation across credit, market, and operational risk areas that I am trying to reconcile (and determine if I have something mistaken.) First, I have written that "For Basel II the capital requirement is a simple summation of the three...

Thanks for clarifying David. By the way (as FYI), the current Schwesser Nov 2011 practice exam that they recommend taking the week before the exam uses 1.96, which is what confused me. Thanks again.

Just want to clarify since I just came across a similar practice question last night and I had the same question in regards to whether to use 1.65 or 1.96 for the spread "z". I have seen it both ways in different questions. If this type of question appears on the exam Saturday would you...

Thanks, I've got it now!

Thanks for the explanation. One quick follow-up to clarify... Regarding the statement "Incremental VaR (CAD) = the reduction in Portfolio VaR is we delete the CAD position = $41.1 - $32.9 = $8.22" It appears that this is actually deleting the EUR position (EUR individual VAR = $32.9) Is...

Thanks for the explanation David!

I have a quick question about question #87.2 in the Market Risk practice questions. I couldn't figure out why I was getting the question wrong, and then I noticed in your spreadsheet solution that the threshold (u) = 4.0% needs to be entered into the equation as "4" instead of as ".04". Once I...

Just checked GARP website and I passed Part 1 exam!!! What a relief. 1st quartile in 3 sections, except 3rd quartile in Quant. Thanks David! I'll be signing up for your Part 2 program for Nov 2011 exam.

I have been wondering about this also. I sent an email to GARP about 6 months ago asking this question and they never responded. If anyone hears anything from them about this then please post the answer. Thanks.