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My favorite part of the quotes is for sure the below, although it's not in the main text, but at least as footnote! Yeah I liked the term " Expected Tail Loss". The word tail is visual and reminds us that it's a statistical concept and not something to be used out of the statistical context to...

I'm reviewing the materials not to pass exams anymore but to say something simple in any job interview and sometimes I come across such questions which I apologize in case I'm wasting your time. Why it's named Expected Shortfall? Is it because most banks use VaR and since the ES is the avergae...

Yes there are but most entry level jobs are asking for locals or reputable schools in US/Europe/american schools. However, I will keep trying and will do this linkedin plan once I'm finished with this coming interview, thanks Brian.

Hi Brian, I'm living in Dubai and have 3.5 years experience in internal audit in luxury retail business. I'm a certified internal auditor as well. I haven't added the FRM keyword to my linkedIn page yet because then my current employer might ask me what's that! Plus I already used the maximum...

Hi! I passed P2 but honestly still find these confusing:confused: If someone asked me this q in an interview, I'll say: 1. Imagine you have 1000 days returns with no 1 being the best return and no 1000 the worst. 2. Var 97.5 is the return no 975. 3. ES 97.5 is the [(976 + 977 + ...+1000) / 25]...

Oh my god no! not again! no more certificates... I just want to be more knowledgeable about banking/finance....based on previous interviews in a bank and a professional firm, what to do next is (1) reading regional magazines like Banker ME and (2) understanding the risks (credit, market...

I totally agree...I've gone through this once with accountancy certificates...Now, what should I do next?

I probably will do the interview with people attending GARP chapter meetings and who actually encouraged me to take the exam. Also I might be applying to other companies/banks who are not familiar with the exam.

Hi, I just passed P2 thanks to BT of course. Now want to prepare for the job interview for risk or at least audit positions in banks. I searched the net but it's mostly general articles. I want something more updated and relevant to what people expect from someone who passed FRM but has no...

Agree with @jeff-1984 , @Pflik yes it was supposed to be converted to monthly after refinancing Overall it was fine, my chance of passing is 70% i guess..but u never know Thanks David and Nicole for your support

Thanks Alex, hope to resolve the word file issue.

Thanks @Alex_1 . It's helpful.

Thanks a lot @Alex_1 , does this cover all the assigned readings in current issues section?

Is RAROC calculated to accept/reject a project/loan? (as it seems to be) Or is it that RAROC is set my management to calculate economic capital? (as of last point in page 3 of BT notes for Crouhy Ch 14) I apologize if it's too naive question.

In q p2.t5.3 (4 to 6), according to the q4 and its answer: increase in demand for call options => increase in price of call options => increase in implied volatility (it has to since it's the only variable that can change, ceteris paribus, (1) is this logic correct?) => (2) would this increase...

I just came back from a public lecture organized by a business school which I enjoyed very much and excited to share few points. The lecturer said that the last 2 paragraphs of Merton's paper(or all the 3) are the most important text he ever read and it's that the equity owners with limited...

Got the point. When I first saw the plot, I though the PDF is for options because intuitively the relation between volatility and options price is direct, so the if the left side of the vol smile is higher, then the left side of the PDF should be also heavy, however that does explain the the...

Yes, I see, the y is probability density function, but for the x axis, I mentioned k in first reply after checking this page on slide no 10 where it's k.

In BT notes for Hull chapter - Volatility smile, page 7, there are 2 longnormal plots. Just wanted to make sure...the x axis is the exercise price of the options and the y axis is the price of the option, is that correct?

Oh the gold medal is real! This is so cool! I liked the idea! Yeah me too, I'll let accrue to buy something from amazon later, thanks a lot.