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the same is here for me as well. It is because the results are NOT yet out. Last year I received the results dated 30-Dec-2013 (due to timing differences between US and my country I received it on 31-Dec-2013, on New Year eve), so I assume this year willl not be different

i think it is better wait till in USA it is December 1st (the time when GAPR will publish its new syllabus) - only 5-6 days left. Then you would know how much is changed, what is added, what is deleted from prev. syllabus.

Helps to imagine the picture more clearly, if you put real persons in place of generic types of CP, so instead of oil manufacturer - you can say it is Russia (Saudi Arabia, USA) or in place of oil refinery say Germany (Italy, i might be wrong though). Why would oil manufacturer, be willing to...

I'm probable one of few who didn't find this exam too tricky (or perhaps I took too many antistress pills right before it?) There were tricky wording in some question, but overall for the prepared candidate with the solid reading base and who had obtained a general sense of risk management, I'd...

IMHO, as a rule of thumb, I never change my answer in the bubble sheet. The first selected is my final. Changing answers, esp at the end will contribute to increase of exam stress, and you're more likely to commit Type I (reject the correct asnwer) /II (accept the wrong one) errors.

My answer chosen was OTM with oil producer. The reasoning is such OTM put, means that we are betting on oil price go down, but our counterparty's financial and credit position is directly related to the growth of oil prices. So in case of huge price drop, we would be elegible to earn huge...

I also selected D, the further away the short-rate is from the long term, the greater the next time-step movement will be as its proof is such next period expected change in rate dr = k(theta - ro) dt, the farther away the short-rate is from the long term means this amount (theta - ro) becomes...

I clearly remeber it was just key rate, but I dont' remember the wording of the question now. I admit I might have incorectly chosen key rate. First, I opted for duration, but the qestion seemed to me have twist.

I used 180/365 and 90/365, not actual quite, but tried to get an approximation to answer options.

There was a qestion to derive forward rate from spot rates and convention of actual/365 was mentioned at the end. Also the qestion to make convexity adjustment of futures to make it close to forward contract. The latter did not produce any difficulty but the former took some time.

I took part 1 last November, after exam we receive similar email saying wait till Jan 2nd for the results, but the results were emailed earlier, 30th December - a New Year present, kind of.

Var backtesting was mentioned in Alen's book. I also used binominal probability distribution.

Same answers for: For the omitted variable question, chose E(error term|Y) not 0 For the APT assumption question I picked idiosyncratic risks could be diversified.

Sorry, the answer said just key rate, because if it had said key rate 01, I would have chosen Duration then.

to continued

It required ES and Var after diversification as one postfolio and so I chose low ES due to subaddativity but high VaR.

There was a hypothesis test with t-stat and the excerpt of the look up table, but showing one tail when the question actually required a two tailed test.

I rechecked even restriction on assets level 2 on HQLA (<40%) and cash inflow to cash outflow (<75%), LCR =123% anyway.

Hi lucas, see my post above. It also left me confused. The question was about payoff. Among the answers there two max fanctions which are supposed to be relted to options. So I chose 8000000/Sr-1000000. As for bondholders, a chose net worth and Barings and Allied cases were related to fictious...