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HI @Faruk Okay I have tagged your request: I am updating the XLS, so I will make sure to do this. Thank you!

Hi @Jul Jul It's actually very simple: in each PQ PDF, the most recent (and therefore most relevant) questions are listed first. In this way, for each topic, you do not need to finish all the questions in a PQ PDF (and certainly most customers will never "finish"). You can work as many "from the...

Hi @lushukai I am especially excited to see your result. Congratulations, you deserve it! :) Question, if you don't mind: 1/2/1/1 seems like it would be associated with a higher score (than 62%)? It is accurate to say you did not experience the test as easy? Thank you

Below is an updated pass rate chart (cc @Nicole Seaman). This is the first update to the chart since March 2020 when the WHO declared COVID-19 to be a pandemic. This new chart adds pass rates for 2020 (but October replaces the May slot) and May 2021. Both recent pass rates were slightly above...

Hi @patriciar Re: "I guess we can not say price declines when asset returns drops, but the other way around" I'm not sure exactly what you mean. Price decline tends to be the more obvious dynamic; e.g., in my illustration above when the spread and yield increases (spread from 2.0% to 4.0%...

HI @patriciar I didn't notice anywhere in the appendix where they defined the bond spreads (will look for it when I re-read the paper) but per (eg) Malz in P2.T6 we know it's likely to be (a variation on) the typical yield spread which is the difference between the bond's yield and the...

Hi @patriciar Candidly I haven't read "When selling becomes viral" (my excellent colleague prepped the notes) so I just started reading it now. I'm not finished (ie, haven't analyzes the data which will take much more time) but I don't see your points yet. So far the main points seem to be, with...

@truongbaoviet86 I agree with @lushukai I just don't understand what you are asking (sorry). Sure the whole table can be produced with a calculator. The bond's theoretical price of 100.190 (in orange) is returned by multiplying its cash flows by their respective discount factors.

Thank you @lushukai that's really helpful! @Hamam This thread at https://forum.bionicturtle.com/threads/effect-of-default-probability-on-equity-and-mezzanine.8144/ also has some very helpful explanations, diagrams and links Re: matching to the video: sorry I just don't have time to...

Hi @kchristo We don't currently do that ... we are working hard actually on material related to prioritization, especially in P1 which is no more stable. But not ready to share yet. Thanks,

@Hamam cool, my favorite sort of "more active" is somebody who helps answer other candidates' questions ;), but if you are just warning me that you'll need more support from me, you don't need to do that! The forum is already daily work for me ...

Hi @juldam i replied in private conversation. Thanks, David

Thank you @DenisAmbrosov for accepting feedback graciously. I'm still a (lifelong) student, too ;) I love questions, questions in the forum is how I became "expert", so don't want to discourage what is a maybe the finest art in learning! Thanks,

Hi @DenisAmbrosov (epic thank you @lushukai for your patience and your expertise ... and your wisdom too!). I do agree with Lu Shu's advice (darn, I can't find a way to disagree with you lately ;) )... ... especially here in the forum, each of your questions has been asked/answered, in some...

Totally agree @lushukai , thank you! @DenisAmbrosov The first sentence rephrases the bolded sentence (in context below). If you consider the plot you copied and imagine a straight line between the PPC's endpoints (which would represent perfect correlation between the two assets: diversification...

Hi @Hamam Thank you, hope you are well too. I don't know (or recall) the exact context, but that sentence appears to be correct (as it is written) to me. Imagine Party A borrows cash by posting (pledging) collateral to Bank B, then this is secured lending and notice we are most likely to say...

Thank you @lushukai you put it very well! I used to develop option (ESO) plans for companies in my former (consultant) life. This can be very tricky. Please understand @aditydev1997 that GARP's view here is directly from (based on) John Hull; I say that because there can be alternative...

If the random variable characterized a six-sided die such that the possible realizations are {1, 2, 3, 4, 5, 6} then here R(X) includes that set because if we want a CDF Pr(X ≤ 3) then technically we want the sum of Pr(X = 1) + Pr(X = 2) + Pr(X = 3) but we don't want to include Pr(X = 0) or Pr(X...

Hi @DenisAmbrosov Inf refers to "Infimum" (see https://en.wikipedia.org/wiki/Infimum_and_supremum) and is a more robust (but effectively still a) minimum: I really don't know where it matters, realistically. This quantile is our value at risk (VaR) definition. For example, if the distribution...

@Eyram I've answered thousands of VaR questions over 10+ years but @lushukai is right (thank you!): it's actually difficult to understand what you are asking, usually I can pluck out the essence of the the question, but yours is too vague. I will say: VaR is always one-sided. VaR is only...