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Hi @VanBuren77, Just to understand your question better: How does this make sense in the context of these rates / prices being indicative of the market's expectation of the future? - Are you asking how well the forward rates predict the actual rate later? If the market expected interest rates...

Np @AbhishekJha ! Do give me a thumbs up if you feel my explanations have helped you :):):)

Hi @AbhishekJha , I appreciate your example where in the Price movement towards close to maturity moved as company expected however my point is, what if the price movement is unfavourable to the company/investor? - If we continue the example of the above given (from Investopedia), I assume you...

Hi @AbhishekJha , Great question. This made me think quite a bit. I assume you are talking about the convergence of futures price to spot price as the maturity date approaches. Let us use Investopedia's example under the Using Futures Contracts to Hedge section...

Hi @Alberto , Firstly, congrats on your amazing score! Wow, it goes to show you really understood the material well. Perhaps if you don't mind sharing, can you list the resources you used? I'm sure it will benefit everyone here. I think you make some valid and great points - technicality of...

Not anytime soon :)

Good luck @nc27 !

Hi @HV1234 , Don't think there is a way to see the score. You either see it during the end of your CBT/exams or you won't know it. Perhaps you can try emailing GARP.

Slightly. Though I still felt BT's exams were still clearly harder overall (mock exam 2 was the only one I was lack of time). I felt my lower score overall was partially due to nervousness/carelessness and ambiguity of the GARP questions (I had about 30 mins left when I finished the exam so I...

Passed with 62% 1,2,1,1!! I am on Cloud Nine and going insane!!! My work has been so stressful lately and this has been such a mood lifter for me. My deepest thanks goes out to @David Harper CFA FRM, @Nicole Seaman and the rest of you lovely turtles!! :):)

Hi @bollengc , I'm not too sure about this as I'm looking to a take a break after results are out - fingers crossed!! If I were you I'd register for the early bird (I guess), as long as you're comfortable with the time to the December exam. Seems like there is about 3 months left to finish the...

Dear Turtles, Seeking help on a general question (that looks most likely to be linked to this topic) about implied interest rates based on FX NDFs. If you don't know what an FX NDF is, its basically a cash settled fx forward without the need to exchange the notional - sort of like an OTC bet on...

BT seems to teach plenty of tutorials in R, perhaps that is a good starting point? I am already fluent in Python and am looking to learn R here. Actually I have been in a couple of coding jobs and the only constant language I used is SQL. My first job required Python, the second one required...

Hi @truongbaoviet86 , For a simple bond, yes. I think the question here is to replicate the cashflows of a bond that is trading cheap/rich with a portfolio of bonds (usually zero-coupon but may be coupon bonds as well). You can then use the difference to obtain the arbitrage profit. Actually, I...

Dear @Hamam , For your first question, as David explained very clearly, we need to consider two cases (when correlation decreases) - the equity and senior tranches. It is important to focus on the two contrasting products because it is surprising how changes in correlation affect the two...

Dear @MERILMATHEW , It really depends, because different people have different definitions of "bad at maths". However, my personal opinion (although quite biased) is that everyone should be able to take the FRM. Perhaps in preparation of the FRM, before you even register for the exam, you can...

Hi @DenisAmbrosov , With regards to your questions, most of them can be answered by simply - 1. Searching the forum, 2. Searching Google or 3. Thinking deeper about your problems. You shouldn't ask every question the first time it pops up in your head, it won't help you that way. With regards...

Hi @DenisAmbrosov , With regards to your second question: That's how VaR works. The VaR quantity is a percentile-based risk measure that takes the maximum loss based on a confidence level over a period of time. If you have a number set of losses, say: {-100, -90, -80 ... 0} Then your VaR of...

Hi @DenisAmbrosov , With regards to your first question: An unconditional distribution is, as its name suggests, is the probability distribution of an event that takes place without taking into consideration other events that have taken/not taken place or conditions present. The mean-variance...

Hi @DenisAmbrosov , From my understanding, this statement seems to be made in the framework of the Markowitz efficient frontier. I would guess that this cost is taking about the cost of lowered return. This is because when you reduce risk exposures by investing in a less risky asset (lower...