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@bvoleg I also just received this message today, although they did not postpone the January 2021 exam to May 2021 yet for New York City.

Hello, With regards to GARP text, Book 2, Ch.11 (Non-Stationary Time Series) page.196: I'm trying to understand how to implement the ADF test. In determining the number of lags, what is meant by "it should be large enough to absorb any short run dynamics in the difference ∆Yt"? "Implementing...

Hello, In the P1.T4. Ch.4 notes (v3) p. 14, shouldn't this be the formula for "Conditional PD" (not "Unconditional PD")?

It’s only New York, NY (New York City) not upstate New York.

@nicholasjalonso I was also confused when looking at the soltuion of this same practice question last week. I found that zero factorial (0!) is always equal to 1, so it's not the same as plain zero. https://en.wikipedia.org/wiki/Factorial#Factorial_of_zero

i hope they would let November candidates know asap if certain locations get postponed. For the October exam, some of their announcements only came in a few days before the exam. I'm in NYC and i believe the max number of social gatherings is only still 50 people.. I wonder how much...

thank you!

This might be very basic.. but generally what is meant by a "vector of key rate 01s" / "vector of key rate durations" / "vector of sensitivities"? (some of the phrases taken from the notes VRM Ch.13, p.6 &7)

Thank you, this is helpful.

Hello, for the LO: "Define and interpret the spread of a bond and explain how a spread is derived from a bond price and a term structure of rates.", I am having trouble understanding this formula on P1.T4.Ch.11 Notes p.7. How come there would be two different forward rates in one coupon period?

Thanks so much. This is helpful indeed.

Hello, in the BT Notes VRM Ch.6 (Credit Risk) p.17, in both the common standard deviation of loss as well as the ratio of portfolio standard deviation to the size of the portfolio, why does L=1? Is it always 1?

It makes little sense that the October 2020 exams for these locations (which were for folks originally taking the May 2020 exams) are being rescheduled to January 2021, later than the November 2020 test takers...

Yeah, I am also wondering whether GARP has the means and logistics to create and administer so many non electronic exams so close together (Oct, Nov, Jan) in different parts of the world. There is so much anxiety from the suspense of whether the test is certainly happening everywhere...

@David Harper CFA FRM Not to read into this too deeply, but do you think there is any distinction between "calculate" or "compute", or has GARP used these two verbs interchangeably? I wondered if there was differentiation between the degree of how much we have to calculate something.

Thank you! This is helpful.

On p.7 of Ch.9's notes (Foreign Exchange Markets) under the Learning Objective "Describe the relationship between nominal and real interest rates", I'm not clear which formula we should be using if given a question. What is the relationship between these two equations, and are they used for...

thanks so much!

A bit off topic but, do you think we will need to know how to calculate geometric mean for the FRM Part 1 in October/November 2020?

@Nicole Seaman @David Harper CFA FRM P1.T3-FMP-Ch.3-Fund Management v3 Study Materials p.5 it says "The return of closed-end funds can..... fees". Should this be "open"?