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Hi David, At the rate they have been approving work experience, they might as well have said 8 weeks (at least that way they wouldn't set any expectations but they would have a very hard time justifying 8 weeks to validate work experience). I know their standard is 4 weeks but to be entering...

Congrats naberius! I feel like I'm watching a slow clock go "Tick-Tock-Tick-Tock" waiting for GARP to verify the work xp. I hope in future years it does not take them 8 weeks to verify work xp because I personally do not think as a global organization it is acceptable to tell your members...

Hi everyone, Thank you for the feedback and clarification. Maximus

Hi all, I found the exam to be very tricky and challenging compared to the practice exams they gave for the same reason that for 10-20 questions, it was a matter of narrowing down answers to two that both looked right and selecting the one that was "more correct". I was mentally drained after...

Hi David, looking over your notes (p.97), it defines prepayment risk as "the risk that the borrower will actually prepay the loan, which can only be replaced by a lower yielding asset". Wouldn't this be the same thing as reinvestment risk (which would be more broad and general since the...

Hi David, Thank you for your response. The post you referenced was exactly what I needed. This now makes total sense with the unexpected loss as well. Maximus

Thank you for clarifying this. Maximus

Hi David, Looking through your notes, I think there are cases where the definition for relative and absolute are contradictory. In Topic 7 for LVAR, your notes (p.23) the example and description of Relative VAR is: not to include the expected return and just use the volatility times the...

Hi David, Looking over your notes, on page 6 of Topic 7, you have capital for credit listed as the following: The capital factors (i.e., applied as a percentage of face value) vary based on RR and tenor. However on page 7, for credit risk (the internal economic capital), you have the...

Hi David, With respect to the portfolio unexpected loss, why is the weights of the unexpected losses not included? For example, when you have two assets in a portfolio and you want the portfolio standard deviation, you would include the weight of the assets in the calculations. I guess on a...

Hi David, This helped tremendously. Thank you for your quick and detailed response. Maximus

Hi David, I'm going through your notes and I searched the forum but I can't find any where that details how compound options work. Can you please let me know if I have the logic correct: For example, a call on a call option: on the first maturity, the holder of the option has the following...