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Word on the grapevine is that Melbourne is being postponed. Stand by for official confirmation.

Agreed. It would be nice to have certainty, but I don't think we can know for sure. My plan is to keep studying practice exams for the next week, then if it gets postponed two months I'll begin FRM Part 2 material in the hope that there's enough overlap to keep Part 1 material fresh.

How much overlap is there between Level 1 and Level 2? If my exam gets postponed from November to January, I might start studying for Level 2. Are there any Level 2 topics that might help consolidate Level 1 material? Many thanks.

The next level is triggered by zero cases of community transmission within a two week period (that threshold will be reached tomorrow assuming no new cases). I have to assume, therefore, that this exam can go ahead as planned...

I haven't been enjoying my new found freedom. I've been studying for this exam! Ha If this thing gets postponed, I'm inclined to start studying for level 2. Is there much overlap do you reckon? Ie, would time devoted to certain level 2 topics help consolidate level 1 understanding?

Hmmm, wow. I assumed it was ok to go ahead and have been studying accordingly. I would be seriously annoyed if it didn't proceed now given that we have essentially eradicated COVID-19. I haven't heard anything further from GARP despite sending a few emails. Please let me know if you hear anything.

My intuition is that the reason for the difference (between Macaulay and modified duration) relates to reinvestment risk. When you limit the compounding frequency to infinity (continuous compounding), then any returns are immediately reinvested at the prevailing yield. Conversely, if you have to...

Thanks. I think the most likely two questions are 1) choosing the CTD bond from a list of alternatives with their CF, and 2) explaining what type of bond will be CTD given yields lower/higher than 6%.

I was wondering if this calculation has ever come up in actual exam. All the practice exams seem to give you a few bonds and their conversion factors, and ask us to calculate the CTD. What's the chance we'll have to do the whole thing on the exam given that it is quite tedious?

Why does it matter? How much does the curriculum change? Maybe 1%? Use BT to target your study on that 1%.

Hi, I was working through the Part I practice exam from 2013. In question 6 they say "C" is the correct answer. I believe this might be a mistake. Is this currency pair incorrectly quoted? Given the EUR risk free rate is higher than the USD risk free rate, the EUR forward rate should be weaker...

Thanks David. I wish I had the time to dig into this a bit deeper. Pretty cool.

David, I have a related question. What is meant by "process invertibility" in this context?

Hi everyone, In your experience, what are the likely exam questions related to MBS and mortgages? How deep should I delve into the calculations related to pass through securities etc? Many thanks.

This whole thing is a great lesson in risk management.

I mean Melbourne surely has to be given I am currently only allowed about a third of the way to the exam location...ha

GARP have announced it today, but for India only.

Given there are >50 locations around the world and different restrictions and requirements in every location, I don't see how GARP can possibly manage the logistics if they cannot even respond to emails. I think there is a decent chance all or most of the exams get postponed worldwide.

Really sorry to hear about your experience @manp1216. If you need anyone to whinge to or chat, feel free to send me a private message.

This whole situation is pretty ironic for an organisation dedicated to risk management.