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Hey Helen, any idea what the status was under "Update Status" till yesterday?

@Roel Good if thats the case, as was a bit concerned that some people who had solved last yr's paper would be at a huge advantage. Good to know that its still a level playing field :)

Just came to know from a friend that there were many questions repeated in this years L2 exam from Nov 2010 L2 exam. I have not seen last year's paper. If someone has solved last year's paper, can you let me know whether this is really the case?

I agree with nadk08...the concept of CCP doesnt take away liability of CCP, but ensures the CP/CM gets the due. Probably only the question paper setter can tell us the right ans and think no point in debating over this. Would be better if some1 comes up with diff question

@ Manish.. Understand your point of view but the question was how much was due to "C". So, if there is something due to "C", that should be made good by the CCP.

@ Yossarian: I think the answer given by afarty cleared the confusion.. however, if not, please note that duration is always negative, but when the question specifically mentions -ve it means -ve of -ve. PO, Inverse Floater and Zero coupon have similar characterists (inverse relationship...

@afarty...i agree, i somehow remeber marking 'C' on that basis @Yossarian ... I think the answer was Interest Strips...PO strips, Inv Floater & Zero coupon bonds would hv similar yield curve and duration.

@ .(JavaScript must be enabled to view this email address) .. Thanx for confirming pass rate, the bars were a bit confusing which gave me a bitter feeling that FRM Levl 1 & 2 total was 54.9%. Glad that FRM 2 was 54.9%. Also nice 2 know that I was not the only one who thought the question on...

@ Harel, I agree.. I couldnt get the answer from 1 of the options, but the closest was option C. Guess my answer had a '0' extra, or probably a calc mistake Any1 has an answer to the Tracking Error question, where active risk and Incremental Risk were given and he had a assign a weight of 0...

I can see lot of comparisions with Level 1 Nov paper...for the benefit of people who have given Level 1 prior to last Nov, can anyone tell me how was the paper as compared to previous Level 2 papers and any idea on the cut off....Also can any1 help me with the pass rate of Level 2 last year...