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Hi Tom, GARP 'could' ask any question (that's their prerogative within (estimatable but not-known) limits), but I would find it unlikely that they would make it unecessarily tedious or off-topic...after all, there are only 3 mins per question. Thanks - Mark

What a chapter. :confused: After reading through the BT notes I can comfortably say I am not much wiser about most of what Bodie was harping on about. The whole chapter just feels a bit dense and nauseatingly theoretical with little chance of being deeply tested. Has anyone else had a chance...

I would also add that the current issues PDFs are freely available to download from GARP anyway (though quite lengthy). I was thinking of starting a few threads for members to give their thoughts on the key ideas from each PDF - will see if I get time.

Well, an off the top of my head answer would be that risk neutral probabilities => no arbitrage and make expected discounted value match market prices ~ factors in uncertainty so default probabilities would be higher due to this. Perhaps worth going back to the Tuckman binomial tree stuff in T5...

Hi David, I'm going to be a (slight) pain. ;) Regarding Stulz Chapter 18 for Credit Risk T6...you said you were not happy with your 2012 study notes and will publish updated ones in v1.2 of the T6 notes. All I would like to know is an estimated probability of this happening prior to the May...

Very informative post David - thanks.

Fantastic video

Hi Falcon80, We all want the notes as soon as possible. But if you read further back in this thread you will see that David and anyone else at BT are working around the clock to get them out for us given the amount of changes to the syllabus and timing of release. In the meantime, T5 and T6...

Yep, and further typo: That is, on the right (higher strike price), OTM call options in greater supply (being preferred for their lower delta) so their price is lower (increase supply --> lower price) so the implied volatility is lower.

@ FRMStrawberry, yes I only use BT materials. If you do every question on the BT website (maybe unlikely given time constraints) and more importantly, understand them then you will not need much further resource. I used only used BT materials for P1 and found the exam straightforward. You can...

Could not agree with this more. Question practice until you drop is the only way to really concrete your understanding...I love the 'except for' approach. Real value for money question practice...;) The question set and learning process would be so much poorer if 2/3 of the other answers were...

Cheers David. I did of course consider that (them being insufficient) but thought I'd check anyway. Thanks again for all your work.

Hi David, Many thanks for getting the T6 Credit notes up, they look great and certainly are much changed from the 2012 notes. One question with respect to the Stulz chapter 18...is it fair to assume that the 2012 T6 notes suffice here as I can discern little difference in AIMs between 2012...

Please see: http://forum.bionicturtle.com/threads/2013-frm-calendar.6642/

Hi, Thanks for the response. At a cursory glance, there seems to be a fair amount of repeated material between P1 and P2 and less calculation. There are also less BT questions (in the PDFs) for P2 than P1. That said, Credit and Op Risk are all new to me so I guess they will take a bit of...

Hi, Just a quick question as I can't seem to see any other thread that deals with this (but I'm sure it's addressed somewhere) and it's getting about the time when I'm starting to put a plan together for part 2, having done part 1 in Nov 12. I'm basically trying to get a gauge on the overall...

Well, not really. These events are most certainly not independent.

Yawn (only posting so I can remove the email notifications - driving me mad). ;)

This thread could be a fascinating disturbing study into human psychology. Relax. There are many things in life you cannot control, don't sweat it. Take a deep breath and switch your focus onto something else.

You can always print them off...