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It's fine. Removing the answer sheet from the booklet is honestly the hardest part of the exam. I did what you did in May. For part 1 in May I tried to manually hold both sheets together when filling in the whole exam, but the bubbles were not really aligned in main sheet and carbon copy sheet...

Hey Tim, can you simply clarify where you obtained both the question and solution in the original post?

Just want to add, I am also not a fan of excessive moderation. I think debate and healthy argument is an essential part of the learning process. I've participated in forums where threads would be locked or comments deleted just because moderators did not agree with the particular point of view...

I am just an amused spectator. What’s the alternative source? In the very first post you say “2017 Mock B”, which is oddly specific. Mock [letter] is a term specific to how BT organizes their practice exams FYI. The question you posted was found in BT database verbatim as well. So you must be...

Wow. Maybe GARP should put more emphasis on ethics like CFA institute. To put icing on the cake, on top of potential illegal procurement to go on the forums and ask for support, truly incredible. A riddle: the answer to the question is in the title of the post.

6th worst according to Kevin Dowd. However, I think both 5th or 6th worst are OK, and I think exam will make it clear or probably make 5th and 6th worst the same.

I completely skipped this section personally, and I don’t recall a single question on it. I would not make this the focus. I remember this chapter from part 1 review and thinking to myself it would take too much time to get a deep understanding. I would just quickly skim through for a...

https://learn.bionicturtle.com/topic/part-1-formula-sheet/ https://learn.bionicturtle.com/topic/part-2-formula-sheet/

Something that helped me personally was BT's formula sheet in the topic review section. I am not a fan of memorizing formulas, and I rather understand, but when pressed for time, whatever works. I perused that document on my commute to work every day the week leading to the exam, and I think it...

Yes it does. In fact, on some numerical questions if I didn't know how to get the right answer, I purposely employed a wrong method to see if it yielded a choice that I could eliminate. I found on average 4 times out of 5 it did. There is also a tendency for some choices to reflect partial...

No scratch paper, do calcs in margins of booklet.

What makes you think specifically this table is critical for the exam? I am reading the four learning objectives GARP has laid out for this reading, and perhaps one can make a case this table is related to the first bullet point. This is very qualitative so there is a degree of subjectiveness...

You’re doing both parts in one go, right? If so, I can see that being stressful. I think it does require a good amount of work to get 90th percentile or higher on these exams. I take solace in fact GARP is a business/brand, and they are not going to make an exam that too many people cannot pass...

Would you be able to clarify more? I think you are confusing terms. There is initial margin, maintenance margin, and variation margin. Did you mean to ask why is initial margin is greater than maintenance margin? For example: Say Initial Margin = $300 Maintenance Margin = $225 Say you are...

Download study guide: https://www.garp.org/#!/frm/study-materials it lists books there.

Minor points: R39-P2-T5-Tuckman (1) p.39 Missing expectation sign in Jensen Inequality: E(1+r) = E(1) + E(r) = 1 + E(r) In version of Tuckman's book I have it is stated correctly on bottom of page 232 (equation 8.6). (2) p.54, addition error:

I am not a fan of the approved calculators either, but theoretically if it’s taking an input of number of compounds, can’t you input in a really large value to approximate continuous? Not that I’d recommend this approach seeing it as probably much easier to work with ln and e.

If you agree with CAPM... ER_i = RF + BETA_i(E(RM) - RF)) Plugging in givens: 13% = 4% + 0.75(E(RM) - 4%) (13% - 4%) = 0.75(E(RM) - 4%) 9% = 0.75(E(RM) - 4%) 9%/0.75 = E(RM) - 4% 12% = E(RM) - 4% --> Note: this is E(RM) - RF = Market Risk Premium 16% = E(RM) The expected return on market...

Only part 1; taking part 2 in November. My strategy was and is to read and do practice problems. I think doing practice problems is arguably more helpful to simulate exam like conditions.

Honestly, unless you are in some dire rush, I would do not do two parts on same day. Each exam is 4 hours long and can be somewhat mentally exhausting. About 40-45% who take it pass part 1 and 50-60% for part 2. For books just follow their study guide or buy third party prep like Bionic Turtle...