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I tried and purchased the pre-order again and the printing fee is gone. If you have paid the extra $100 for the pre-order, you should send an inquiry to GARP for the money back... Hope this won't give you much trouble. RiskNoob

Robert, I agree with you, FRM P2 topics are really interesting to me as well, and I definitely do not want to rush just to get pass P2 exam. I might have to delay taking the exam due to the late delivery of the core readings (as well as busy schedule in the full-time job...) Also I hope...

Has anyone tried to pre-purchase Part 2 books? it asked me to pay additional 100 'printing fee' on top of the intial cost ($295). Such fee does not exist in part 1 books. What's going on GARP?:mad: RiskNoob

-MaNi- For me, core readings were definitely helpful for Part 1. while BT product (especially the PQs) is the excellent way to prepare the FRM exam, I found that the core FRM RAW readings helped me to build the strong building blocks in many risk management concepts. I already purchased BT...

GARP mentioned Part 2 readings will be out in early January but it is almost mid January already! Hopefully they wouldn't delay too much publishing the readings otherwise it will be tough to consume all of these readings for the upcoming may exam. In any case, I hope to see more activities...

Dear David and Suzanne, Again, BT FRM study packages, as well as active friendly support, proved to be the most effective third-party provider for preparing the Nov 2012 FRM exam. I, who had no formal financial background before FRM, was definitely well-prepared for the Part 1 exam using...

Great comment regarding FRM/CFA ebb! I think you are referring to Type 2 errors? :) RiskNoob

The above posts from myself are quite confusing - I think I got too relaxed in the holiday period and totally confused myself. To summarize the backtesting concept above, Null hypothesis: Given 99% (alpha=0.01) VaR model is correctly calibrated Test case 1: when the number exceedences are...

Please ignore this post, I don't think I specified the null hypothesis correctly from the above post. The null hypothesis from the Jorion's example is 'given 99% VaR model is correctly calibrated' However, I stated the null hypothesis to be 'the mean of given binomial model is n*p (which is...

Hi David, Could you help me out to clarify the basic backtesting? From the last sentence in page 61 in BT notes (Jorion Ch6, Backtesting VaR), it says: “…In the case of an incorrect model (below right; 3%), the probability of a Type II error is 12.8%” If the t-statistics from given sample...

anand99 I had P1 exam in last month and I used BT P1 tier 1 product + P1 core reading package from GARP. I think it is worth to purchase the core readings from GARP unless you already have several assigned books - in my opinion the core readings are ESSENTIAL to have a solid understanding of...

Hello, GARP just published FRM preparation handbook, candidate guide and exam study guides for 2013. http://www.garp.org/frm/study-center/study-materials.aspx (For P1, there were a quite a bit of changes for T1. and for T2, and basic prob & stats contents are the same but assigned readings...

It's an open-ended question but I would say (I had the P1 exam last week) FRM candidates must have been WELL prepared if they used BT materials thoroughly, especially BT practice questions. Personally, there is no way I can find out whether I will pass or fail until Jan 2 but the best thing I...

balajismz Good posting! I also googled on this topic and there was a nice discussion from Hend and David: http://forum.bionicturtle.com/threads/duration-of-a-callable-zero-bond.5750/ And I made an educated guess and this particular quote seem to support why the duration (from the answer...

caramel Yes, Z-table (for the region outside of computed t-statistics) only gives the one sided p-value, so multiply by 2 gives the desired answer (ignoring precision, I think answer was 9.1%*2 = 18.2%). Yes, I also agree the duration would be somewhat between 10 to 15 years for the answer...

Mayur G There were at least couple of questions to normalize given random variable to find the probability using Z-table. Furthermore, one question asked to find (two-sided) p-value - once t-statistic is calculated, we need to refer to Z-table to find the p-value (needs to multiply by 2...

itisme I think the question regarding Bayes' theorem was something like this: Given P (positive | fraud ) = 1 P (negative | not fraud) = 0.95 (hence P (positive | not fraud) = 0.05) P ( fraud ) = 0.001 What is P (fraud | positive) ? P (fraud | positive) = P(fraud) / P(positive) *...

LEO04 Regarding the margin question, the trader was in short position and had a margin call after the big price increase in the first day (so that the balance is equal to initial margin again). However there were bigger price drop on 2nd day so his position exceeded the initial margin, and...

My memory is quickly fading, so let me few more things before I forget: I found early questions were quite difficult compare to the later ones, so I initially skipped those questions. for example - the first question was tricky - risk measure that cannot be controlled by risk manager (this is...

As far as I know we have a simple option pricing (with respect to risk-neutral probability) for one-step binomial, as well as the pricing for two-steps for (European) options that do not require computing values for the intermediate nodes. RiskNoob