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Congratulations to all those who passed! To those who didn't, try again, and don't give up! If you could take a minute to fill out the exam results poll that I posted in the forum, it would be really helpful to us. Thanks so much! :)...

@KCohe1250 @ARama5559 @kc Congratulations on passing Part 1 of the exam! If you could take a minute to fill out the exam results poll that I posted in the forum, it would be really helpful to us. Thanks so much! :)...

GARP has released the May 2024 FRM exam results. We would appreciate it if you could take the time to reply to this post and the poll at the top. Congratulations to all who passed, and to those who did not, don't give up!! :) We would greatly appreciate it if you could also fill out our Exam...

I've moved your post to this publishing process thread, which explains why some materials may not be published. The original post in this thread has a full explanation. Current Issues is a lower priority on our update list, as the topic holds a lower percentage of weight on the exam, and GARP...

Learning Objectives: Describe a one-factor interest rate model and identify common examples of interest rate factors. Calculate the DV01, duration, and convexity of a portfolio of fixed-income securities. Describe an example of hedging based on effective duration and convexity. Questions...

Learning Objectives: Calculate and interpret the impact of different compounding frequencies on a bond’s value. Define spot rate and compute discount factors given spot rates. Describe a swap transaction and explain how a swap market defines par rates. Questions: 24.12.1. Given an annual...

Learning Objectives: Define recovery rate and calculate the expected loss from a loan. Describe alternative methods to credit ratings produced by rating agencies. Explain historical failures and potential challenges to the use of credit ratings in making investment decisions. Questions...

Learning Objectives: Define conditional and unconditional default probabilities and explain the distinction between the two. Define and use the hazard rate to calculate unconditional default probability of a credit asset. Questions: 24.10.1. According to the 2018 Annual Global Corporate...

Please be aware that our office will be closed on Wednesday, June 19th, in observance of Juneteenth. Any emails sent to customer support during this time will be addressed when we resume normal business hours on June 20th. Thank you!

Learning Objectives: Explain the impact of incorporating collateralization into the CVA calculation, including the impact of margin period of risk, thresholds, and initial margins. Calculate DVA, BCVA, and BCVA as a spread. Explain the distinctions between unilateral CVA (UCVA) and BCVA, and...

Learning Objectives: Identify examples of wrong-way collateral. Describe the various wrong-way modeling methods, including hazard rate approaches, structural approaches, parametric approaches, and jump approaches. Explain the implications of central clearing on wrong-way risk. Questions...

Learning Objectives: Describe the differences between funding exposure and credit exposure. Describe and calculate the effective expected positive exposure. Explain the general impact of aggregation on exposure and the impact of aggregation on exposure when there is correlation between...

@AUola2165 I am currently working on updating the Operational Risk topic in the interactive platform. We appreciate your patience with this, as we wanted to launch the new feature with the PQs that were already added to the system so our members did not have to wait for us to add all of the PQs...

Learning Objectives: Compare bilateral and central clearing. Compare initial margin and default fund requirements for clearing members in relation to loss coverage, cost of clearing, and moral hazard. Describe the advantages and disadvantages of central clearing. 24.31.1. In the context of OTC...

Learning Objectives: Discuss the risks faced by a CCP and the ways it manages its exposures. Provide examples of a loss waterfall. Explain the different methods of managing the default of one or more members of a CCP. Questions: 24.30.1. RiskShield CCP is a central counterparty that clears a...

Learning Objectives: Define a central counterparty (CCP) and describe the mechanics of central clearing. Explain the concept of novation under central clearing. Define netting, multilateral offset, and compression and provide examples of each. Describe the application and estimation of margin...

Learning Objectives: Describe the various regulatory capital requirements. Calculate the credit support amount (margin) under various scenarios. Questions: 24.28.1. Which of the following statements about the regulatory margin requirements for non-centrally cleared derivatives contracts is NOT...

@CHu7995 Mark Meldrum joined CeriFi in 2022, so BT will not be creating a separate CFA program. Our FRM and CFA teams work together to provide study materials for both exam prep programs. You can find our CFA program on www.markmeldrum.com. Thanks!

Learning Objective: Provide examples of trade compression of derivative positions, calculate net notional exposure amount, and identify the party holding the net contract position in a trade compression. Questions: 24.27.1. Alpha Financial and Beta Investments have multiple interest rate swap...

Learning Objectives: Describe central clearing of OTC derivatives and discuss the roles, mandate, advantages, and disadvantages of the central counterparty (CCP). Explain the margin requirements for both centrally-cleared and non-centrally-cleared derivatives. Define special purpose vehicles...