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David — You're welcome. Here's the R code I used (I had to add a .txt extension to upload the file). I added comments for clarity. No libraries needed, it should work off the shelf, just modify the Nsim parameter if the code is too slow... Let me know if you have any questions.

Thanks! I have derived a closed form for the standard deviation of the Sharpe ratio as well (seen as a random variable, ratio of 2 random variables), a bit more complex, I'll post it later. As per the pencils... the proctors had a carton full of them and told us after the exam that they can't...

Veda, you have to provide your work experience within 5 years of the P2 exam date. Past that time you'd have to re-enroll in the program. GARP will give you the details once you pass P2.

Interesting question, and indirectly hitting on a number of points in the curriculum... I took some time to work it out for the Sharpe ratio. Deceptively simply the relative error on the Sharpe ratio (SR) depends on the sample size N as: ΔSR/SR ~ 1/[2(N-1)] Note that there is no dependence on...

I think @MWDerbyshire was referring specifically to the November pass rates. That is correct, the latest (Nov) P2 pass rate was the lowest November pass rate since the split in 2010. Besides dipping under the long-term average overall, the "seasonality" of the pass rates might be diminishing.

As indicated by Siqueue, besides costing a fortune, and if your goal is to have a better understanding/practice you'll need 10 years to read/study them all completely... :) That said, in my opinion Hull's book OFOD is a very good desk reference to have handy no matter what, beyond the FRM prep...

I failed P1 in Nov'15 and then passed P1 and P2 in May and Nov 2016 with Q1 scores across. Time was definitely a factor in my first attempt at P1, I had to force-guess over 20 questions at the end. For 2016, after a thorough initial read of the materials (primarily Schweser, with occasional...

So glad I passed Part 2, 11111. I wanted to thank David, Nicole, and the community at large for making BT such a rich and insightful platform to prepare for and promote the FRM certification. I personally prepared with Schweser to remain as practical as possible, since I know my natural and time...

David, arkabose, Thanks for the insight (and for responding on weekends), that makes much better sense now. I realize that in the Crouhy reading: 1- "In this structure there are no margin calls, and the maximum downside for the investor is the initial investment of [$20 million.; in my...

Hello, I was reading some older posts to gain clarity on this question, in particular in regard to "CLN investors being short the CDS" (and vice versa, "CLN issuer being long the CDS"), reference: https://forum.bionicturtle.com/threads/cds-vs-trs-vs-cln.4796/ Now I found this question 608.3...

Alright. Just received an email from GARP at the address listed in my profile telling me the results are ready (1pm Pacific time). The results page is complete with the performance analysis. The charts are not labeled though so I cannot tell which part is which. Passed 1.1.1.1 (second sitting).

Same here ... Box went from green to blue ... Looks like the more we query the site the more delay we're generating...

Anybody in the US got their results yet? I'm on the West coast, no message from GARP, or anything online (besides a notice that I need to pass part II by 2020 otherwise I'd need to start the program over...)

These EL questions threw me off as well. I was familiar with the "Schweser nomenclature" EA = Outstanding + Drawdown * (Commitment - Outstanding). If my memory serves me well the questions indicated the drawdown and the "expected exposure, as a percentage of the credit line". I think the...