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Hi Ami, Could you please let me know how your response is different from what's been mentioned above by me and @brian.field? I just want to make sure I'm not missing anything in my understanding.

Current value for both. If you want the value of the firm's debt, equity, or assets today, you should use the PV or current market value if provided.

Hi Kavita, Let me attempt. First, the price of a risk free debt, holding all else constant, will be higher than a risky debt because it has no risk. So in order to back into the risky debt, you have to incorporate the risk into the risk free debt and you do that by subtracting the put price...

So many exposures...

Hi @NNath, See the excerpt from the book below. The output of the brackets/parentheses has to be multiplied by the LT value as you show in the final line, otherwise you're basically not factoring LT debt in at all. If the LT/ST ratio is less than 1.5 then ST+Half of LT debt otherwise ST Debt +...

Is B.T. still doing the participation awards? I can use some Starbucks here.

I don't even know which topic I'm on right now. But I'm keeping it moving...

Head is spinning... but I'm all in!

"The code for the bivariate cumulative normal distribution M can be found on the Internet"...Gunter Meissner; Love that source.

I hate it when you're reading page 1 but the reference figure is on page 2...

@brian.field - This is helpful as well... Thanks a lot!

@QuantMan2318 -- Thank you so much! Very much appreciated.

Pearson Etext is the worst...Not sure why the FRM doesn't use VitalSource

Hi David, The mapping process for linear and non linear derivatives is throwing me off. Is the LOS below even that relevant for the exam purpose? If yes, can you help me figure out where the VaR are coming from for these derivatives? I tried looking for a worksheet for Jorion Chapter 11 but...

Hi Nicole, I cleared part 1 and am ready to purchase the professional package for part 2. I think being a returning customer I get a discount as well. Could you please send me a link to purchase at [email protected]? I will also submit the formal discount form. Thanks in advance.

What about part 1?

Good luck to all of you. I've got my favorite tequilas lined up here in Mexico for the afterparty.