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And there was the assumption of no wrong way risk

Another graph was volatility smirk with the comparision of longnormal. I chose with a fatter tail on the left.

CVar = 5000; 5 defaults * 1000 and exp df = 0,02 *100*1000. However, not sure about 5 defaults as ratings with cum PD were given accompanied with number of defaults. Long position on correlation = I chose correlation swap

yes it was 420 and lambda = 7%

the qestion related to risk neutral DP with lambda. 460 CDS premium and 40% recovery rate to find 2 year DP. dp=1-exp(-2*4,6%/60%)

I chose heavy tails, but also hesitated between light or heavy.

3 or 4 questions tested theories about different distrubutions and they were mostly easy to solve: Fretchet for ES; GPD for severenity of loses

The first question was copied from GARP 2013 about QQ plot

among the answers will decrease diversified var; decrease RAROC; decrease Sharpe Ratio; have 14 PC to account for 85% of variance

More specifically, from Meissner how to long correlation and "a rule of thumb"

All the new reading authors were tested: Meissner - correlations; Ang - illiquid assets; Tuckman - Repos; Currents issues included: CCP; Cybersecurity framework; FVA; OIS; HFT

IMHO, PART II Major references: Tuckman, Gregory, Culp, Maltz, Jorion, Dowd, BASEL II/III make sure you read, reread and understand all assigned chapters from these authors.

I have filed CV online immediately upon release of the results on Jan 2nd, and today received email from GARP saying You are now a Certified FRM! They are quick! But the actual certificate will be mailed to me on June 30, 2015.

Thank you BionicTurtle team for your assistance in the preparation for FRM. Those who failed don't give up and try to retake FRM with the help of BT as obtained knowledge after a second go is more important than just pass!!! Good luck in your endeavours!

I am planning to learn python (and then probably later R) to master the data. I know a little bit of VBA for Access but when I saw what can you do with few lines of python, I made up my New Year resolution quick;y. Data science is the next logical step for risk managers

Congrat to those who passed! I passed too (2,2,3,2).

In my case, 2-1-1-2-1 i passed at 1st quartile for those areas which I covered completely and several times (read all readings, rewatched videos of Bionic Turtle, redo questions, etc), only for those areas which I did not cover completely or skimmed through due to lack of time I scored at 2nd...

I also passed! 2-1-1-2-1

From: GARP [mailto:[email protected]] Sent: Tuesday, December 31, 2013 2:35 AM (<- that's my local time) To: ********** Subject: Your FRM Part I Exam Result for November 16, 2013.

Last year GARP also said the results would be out on Jan 2nd