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Passed ! 3-1-1-3-1 Champagne ! Thanks David.

It's good to spend time doing nothing again :) watching a movie was luxury past month ! Waiting for the result... feeling anxious.

...and what about refinery/oil producer ?? In what sense are they opposed ?

Official reading : "An out the money put option will have more wrong way risk thant an in-the-money one"... I come back if I find something on refinery/producer.

Hi, you can buy the new chapter on http://www.garpdigitallibrary.org for 3 to 5$ We can expect a 20% change.

The same. Was less confident about part I and I finish 2-2-1-2. But I'm a "quant guy" and absolutely no math on part II :(

Garp say that we will have the result no longer than january 2nd. According to previous year, does anyone know if we will have it sooner ? if yes how much sooner ? Thanks.

I'm also disappointed about the number of questions on current issues... Only 2 ... and quite simple. If I have to take the exam again... I will have a very superficial reading on it ...

They give the formula : z = (x - pt) / SQRT(p*(1-p)T) so x = z * SQRT(p*(1-p)T) + pT x = 1,96 * SQRT(0,99*0,01*2500) + 2500*1% x = 1,96 * 4,97 + 25 = 35 The trick was 99% VaR one tailed but 95% confident two tailed so z=1,96... I first made the computation with 2,33 and 1,65 but...