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Hi @jamietay I would guess A because in theory you should have filled in the circle for C as well, then added C under the Final Answer column. Not sure how the grading machine works exactly though. Best Karim

Hi @Hedwig_who_has_red_socks Sorry to hear that. I'd reach out to GARP member services about it: [email protected] Nicole listed the phone number here: https://forum.bionicturtle.com/threads/important-do-not-post-about-the-exam.13906/#post-60222 Best Karim

Hooray! Thanks @Nicole Seaman and @David Harper CFA FRM :) Posting it here was great so I got an email about it instead of having to proactively visit the thread. Thanks again! Karim

Thanks @David Harper CFA FRM I think I finally understand the "as seen today". So Conditional (aka Marginal) PD is a combination of assumed certainty and probability: e.g. We assume we are certain you haven't defaulted in the first 3 years, and are calculating the probability of you defaulting...

Thanks @Nicole Seaman :) I'll accrue mine. Thanks Karim

Hi @David Harper CFA FRM I'm feeling pretty dense, but I'm still not getting it :( Aside from my question above, in the GARP 2018 P2 Question 6 we got another PD question and I thought "Unconditional Probability is a probability that does not take into account any other information, knowledge...

Hi @David Harper CFA FRM GARP replied: "GARP is aware of this discrepancy in the text and is working with the publisher to address it. It will not impact actual FRM Exam questions." So there's still hope :) Best Karim

Thanks @Nicole Seaman We're rooting for you and the G & H mock exams :) Thanks Karim

Hi @David Harper CFA FRM @Nicole Seaman Given we're just over a week away, I'm trying to decide how to spend the little time remaining to get the best bang for my buck to try and pass the part II exam. So I'm facing a tradeoff between quantity and quality where my impression is that your more...

Hi @David Harper CFA FRM Your post and video above are very useful thanks. The one piece I'd still need a hand with please is the difference between Marginal PD as found in the Excel sheet from here...

My pleasure @David Harper CFA FRM :) My guess is they want to keep it in because it covers a broad array of topics, but sadly seems to personify "jack of all trades, master of none" :( So I'm thinking they would need several replacement texts to cover the 1 book's learning objectives. Btw...

Thanks @David Harper CFA FRM I've pinged GARP about this particular error in hopes that it won't make it onto the exam. Thanks Karim

Hi @David Harper CFA FRM I've also got these various PD definitions swimming around in my head, and after looking at our beloved De Laurentis I'm even more confused than when I started :confused: This post is the closest I've found to explanations of what the various flavors of PD mean, and...

Thanks @David Harper CFA FRM Yes same issue in the GARP 2018 FRM Part II Credit Risk book on page 72. Screenshot: If you can send me a list of the other issues after exam day (we both have more pressing things to do now :)) I'll ask GARP too so hopefully we can get them to reconsider. Thanks...

Hi @David Harper CFA FRM I remember you mentioned the De Laurentis text was weak, but I wanted to confirm my understanding of his marginal contribution to portfolio unexpected loss formulae which seem to imply Correlation = Beta. R42.P2.T6 Giacomo Study Note page 9: Screenshot: If we...

Thanks @Nicole Seaman I also thought I'd post it since we're in the last weeks before exam day and more people might be using the review videos. I spent some time scratching my head as to how the answer was reached until I realized it wasn't correct :) Best Karim

Thanks for the follow up @David Harper CFA FRM That makes sense thanks :) Sorry for the delay but work has gotten crazy again at exactly the wrong time as exam day approaches (5:32am my time and going to bed now after working :eek:). Thanks Karim

Hi @David Harper CFA FRM @Nicole Seaman In the Market Risk focus review video 2 it refers to the original incorrect solution to question 63.2 which was fixed here: https://forum.bionicturtle.com/threads/l2-t5-63-fixed-income-mapping-jorion.3617/ Screenshot from P2_FR2.PDF: Correct Answer...

Hi @David Harper CFA FRM @Nicole Seaman There's a difference in one of the unsmoothing formulae in R75.P2.T8 Ang. Study Note p39: Question Set p37: Thanks Karim

Thanks @Nicole Seaman I'll accrue mine. Best Karim