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Hi @David Harper CFA FRM, pleased to hear that you get some well deserved days-off! Even more delighted that you decided to come to Europe (the UK). I do really like your choice of destinations, in particular because two of these locations are very close to where I studied (York > close to...

Hi @sal_14, quick reply: for the FRM of course, for the CFA also. I think every sort of role in the financial industry (except HR or sth. similar which is purely unrelated to the daily financial business) should count as work experience. It also depends on your selling arguments when you...

On average you have to wait at least 1 month (at minimum), can be a bit less or even more at peak times.

Hi @David Harper CFA FRM, I had to think about it myself for some minutes: just wanted to share this with the community here. Let's say we have 18 assets. How many correlation pairs would we have? We could go the long road writing: Asset (A,B) Asset (A,C) Asset (A,D) ... ... Asset (B,C) etc...

Hi @brian.field Long time no hear. Seems you have been quite busy with your daily grind recently.? (Sitting for the PRM in the near future; need to do sth to stay up-to-date with the stuff) Well, you never know....it could easily happen that some people pretend to be a certificate holder...

Ok, so in a nuthsell: if you can NOT locate somone (e.g. who you might spot at Linkedin) in the GARP directory it does not say that this person has not been certified because he/she might have opted out of the search function. Good to know. Thanks @Karim_B

This is a great question. The same happened to me; I checked a colleague who pretends to have mastered the FRM but is not listed in the directory. In the meantime I have serious doubts that he has been certified.

Nothing changed really over the years: the CFA teaches you basically everything you need to know about how to generate return" (from accoutning, equities, portfolio management) while the FRM is purely focused on "risk". As we all know that both ingredients (return & risk) are essentiel one...

If he did not he would not be in the part II forum .

Hi @oldfed, Material stays the same for one calendar year. It will always be amended before May per calendar year. Hope this helps.

Hi All, Everyone who thinks that it might be a piece of cake in case someone tells you some questions (parts of) from another country where exams took place way earlier then I have to tell you that this is almost impossible. If you take your own exam seriously you will be busy managing all the...

Hi @David Harper CFA FRM, Bear with me I am just curious as to why does this rule (Tuesday) exist? I think the exam should take place this Sat around the globe and after that everything is done and people will start chatting across a variety of forums (analystforum etc which I think will not...

You can but they might be checked like they do it at the Pearson Exam centers around the globe. But the level of security before and during FRM exams can vary a lot depending on the country. Some invigilators are more strict than others. I do wear glasses as well and no one ever asked me about...

Indeed @David Harper CFA FRM, Apologies. I subtracted 1 from 0.8 but the formula is 1 - (the term 6*16/5*(5^2 - 1) to yield positive 0.2 for Spearman.

Perhaps @David Harper CFA FRM's post underlines that GARP Practice exams are prone to various errors. https://forum.bionicturtle.com/threads/l1-t5-58-value-at-risk-var-backtest-significance-jorion.3604/page-2#post-59887

Hi @JeffVanCott, Kendall's Tau should be + 0.2 while Spearman's Rank is -0.2. Having a rank for X and Y of: X Y 4 3 3 5 5 4 1 2 3 1 Spearman: d^2 (squared differences in ranks) 1 9 1 1 4 To yield the sum of 16 Inserting this in Spearman's formula having 5...

Fully understood, @David Harper CFA FRM. I totally see your point that: IR = α/TE could be confusing as candidates may think in regression language and want to dissect alpha from the regression equation instead of simply comparing the returns of the actively managed portfolio versus its...

Hi @David Harper CFA FRM, Sure. I agree whith your ratio-consitents explanations for the IR and for sure the outdated Jorion terminology have Tracking Error in the numerator. Jorion's VaR is still a superb book but with respect to the latter he got it completely wrong (or at least his...

Hi @Galaxy, first of all, the IR is defined as alpha (difference between portfolio return versus its benchmark) divided by the Tracking Error (which is the std. of the difference between the return of the managed portolfio versus its benchmark return). For the exam: you only have to remember...

Hi @Nicole Seaman, very happy with the reward again! Thank you! I would like to go for the Amazon gift card please.