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Hi All, Is there any experience about GARP E-books? The only infomation on website is that the files are not printable. Are these files MOBIs or other? Can the files be converted to pdf? Thanks a lot! eszaknyugat

Hi David, Nicole, According to GARP announcement few topics were added to P1.T3. If I understand correctly, MBS and exotic options moved from Part2 to Part1. Is it possible to access to these study notes and QAs or are you preparing the new topics for Part1 students? And also what about...

Hi David, Problem 18.16 d) (p.100) Portfolio insurance with 9-month index future. There are 2 aspects I do not understand: 1. Why we use 119,7 M for calculating short position and not the original 360 M value? We hedge the S&P500 with the future contracts. How short put came into the picture...

Hi All, 5.4. Practice question: d1 = [LN(50/50) + (4% - 2% + 18%^2/2)*0.5] / [18%*SQRT(0.50)] = 0.1422; d2 = d1 - 18%*SQRT(0.50) = 0.0149 N(d1) = 0.5565 and N(d2) = 0.5060 c = S*exp(-qT)*N(d1) - K*exp(-rT)*N(d2) c = $49.502*0.5565 - $50*exp(-4%*6/12)*0.5060 = $2.753 I calculated this question...

Hi All, 4.2. C. The short selling of securities with full use of proceeds is permitted (the dynamic hedging premise underlying Black-Scholes requires the ability to short sell). In former forum thread David listed as BSM assumption (based on Hull): The short selling of securities with full...