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Hi @nikic Re: "could GARP have made an error previously in releasing the pass rates, and these are the actual revised/corrected pass rates?": It is conceivable but given that GARP has never--to my knowledge--amended the originally published 2016 results (e.g., see the first post in this thread...

HI @SalinaMiao The formula featured in the study note text is correct: dr = k (θ -r)dt + σdw. The displayed blue formula (that is part of the XLS screen) is incorrect (although the calculations are fine), apologies, and should match the text and consequently should appear as follows: In regard...

@jaivipin what's the mistake? e.g. model 1: dr = σdw appears to be correct. oh, I do see on page 11, there is a typo. Please let me know if this isn't what you mean?

Thank you @Karim_B ! I updated our pass rate history chart accordingly, see below. (FYI, your screenshot from GARP shows 2016 Part 1 pass rates of 40.0% in both May/Nov, but those appear to be incorrect). @nikic Almost but not quite the lowest, it looks like the lowest P1 pass rate technically...

Hi @aimjo If you are referring to formula 5.8 in Schroeck, then I agree with you: not only is it too complicated, but we had to explain to GARP why it's actually wrong :rolleyes: (see https://forum.bionicturtle.com/threads/november-2017-part-1-exam-feedback.12896/page-5#post-56335, it actually...

Hi @gprisby (cc: @Nicole Seaman ) Yes, absolutely; we need to edit/reissue this study note. The solution should look as below; ie., the same mistake came up a couple of days ago here at...

@dhirajchawla It's obviously beyond my ability to confirm for you, but sincerely: you should not be anxious. Clearly you have relevant work experience, it's hard to imagine how your experience would not qualify. Sorry you are kept waiting, I'm sure your good news will arrive soon enough! :)

Below is a partial snapshot of the normal Z lookup table provided as part of GARP's 2018 Part 1 Practice Exam. They have been known to provide the similar student's t table also; alternatively, the question might just provide the specific, applicable values rather than the entire table (to agree...

@vaisman did you delete your follow-up question?

@vaisman we have a FAQ on this https://forum.bionicturtle.com/threads/how-do-we-get-critical-lookup-values-during-exam-e-g-critical-normal-z-or-critical-students-t.7089/

Hi @vaisman good morning! I think it's a question that has been discussed many times (I would encourage you to first search the forum, because it's typically impossible for me to answer every question every day, FWIW, so that I try to answer questions that are difficult and/or without obvious...

Hi @vaisman Sure, frankly I try to respond quickly especially if I think we have an error (as above). Plus, we consider it a contribution (to help us fix mistakes or otherwise improve). In regard to the follow-up: We are given the assumption that "outperformers beat the market 75% of the time"...

Hi @vaisman (cc @Nicole Seaman ) Apologies, but the upper matrix on page 101 is a mistake and should not be there (you are correct, it's a mistaken copy from the previous sample problem). For sample problem #2, we should be showing only the following matrix (notice that I have colored in YELLOW...

Hi @SalinaMiao I moved your question to this thread, see above. The assumptions to which you refer are simply the normal probabilities associated quantiles; just like Prob(Z > 1.645) = 5.0%, except Dowd is retrieving this for bin edges at 1.645 +/- (h/2). He defined bin width h = 0.10 (top of...

Hi @vaisman The expected values (aka, means) are each/all the sum of [joint probability * value]. For example, in the case of variable (G), its mean = (20% * 3.0) + (60% * 9.0) + (20% * 12.0) = 8.4%. In case it helps, below I represent the assumption situation in a probability matrix; this...

@kevolution the 95.0% ES is the conditional average of the 5.0% probability tail, so we are taking the average that includes the full density Pr[X = 3] = 2.0% but we only want 3.0% of the 8.0% of the Pr[X = 2] density. You might think of this as, if you imagine the vertical (pmf) bar that...

Hi @Jupiter3 Your solution is not wrong (it's right!). However, notice that it isn't quite "rationalized" (what is the best word .... maybe "simplified"). Imagine you are the Company Y and I am the Bank. In your solution, our agreement is you pay me 8.8% fixed in exchange for receiving LIBOR +...

@vaisman (@Nicole Seaman can you help please? I am trying to record a video) can we please move this last post to a new thread in the About (where there is ongoing discussion about "study plans"), I will reply over there hopefully later today ...

Hi @vaisman Our questions do engage in the learning objectives more thoroughly (aka, deeply) than many others, it's true. But these questions are sourced in GARP's assigned Miller and the associated learning objectives which are repeated at the top (AIMs: Describe the concept of probability...

Hi @emilioalzamora1 Hey i hope you are doing well! I agree ... one of my "first loves" in math was triangle numbers (https://en.wikipedia.org/wiki/Triangular_number) I have an illustration here...