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David, I am a bit lost in vocabulary.. would you agree to; TRS buyer = payer = protection seller = recieves total return = holds credit risk = receives gains and losses Thanks again

David (or Suzanne). Do you think we need to memorize the formulae for PD and LGD under Merton? Not being lazy, just want to use my time and energy wisely. Makes me think a bit of the greek fomulae of lvl one, quite complex but never really applied in the exam.;)

That helps a lot!

David, Would you categorize Terrorisme as Op risk ? If learned it is event risk, kinda unsure of what that means really (event risk) in relation to the main categories of risk. Thanks again

Ok, that is unfortunate. I have similar queries with regard to Allen chapter 4. Guess best to post queries in the forum.

David, Is it possible to respond to some of the remarks on the practise q's for Gujarati ch 1-8 in the practise questions section (with frm1 filter). Maybe just a general note but it would be helpful if some of the remarks in this section were incorporated into the acrobat files. Thanks

David, I assumed that the May exam material, aims have not changes compared to coming Nov exam (lvl 1)But to be honest have not fully compared all aims. Do you maybe know if anything has significantly changed compared to last May?

David, How do I need to interpret the term stochastic in relation to tetha. I always viewed stochastic as "simulated"..

That helps a lot david..bit let to memorize.

David, Basis yr experience, do you think it is likely we will to calculate any of the greeks on the exam, rho, gamma etc. I.e. Calculate d1 and then use the various formulas?

David, That helps a lot... Fully understand the reasoning (did not before). Then, what about this; Interest rate futures are designed to move like bonds,that is, to lose value when interest rates increase...relative to forward contracts this mtm is disadvantageous to long futures positions...

David, Risking that this question is already somewhere is the forum. But.. Which is worth more i.e price higher; a forward or a future. I seem to read contradicting explanations (not particularly with your program). It seems this is structurally different because of mtm on futures but does is...

Thanks, Just one more questions, sorry for milking you on your past exam experience. But can you maybe briefly (or extensively) give a bit more info the "extensive math" at last years exam. Just curious on what this is, particular topic or what suprised you on it. Maybe you can still remember...

For Level I I used Kaplan 100%. I did not use BT or the original texts. I am using BT together with Kaplan for Level II because of the feedback I heard about David's practice problems. The real exam was on a completely different level from the Kaplan practice exams. The thing that saved me...

Thank you for posting the passing rate. That makes me feel more confident about our bionicturtle.com preparation course, as our accumulated (2009 & 2010) passing rate is 62.4% based on our customer survey! Suzanne what was the bionic turtle score rate on the last FRM level 1 exam ? Thanks