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Passed Level 2 as well! 1, 1, 1, 2, 1

I have just checked, I too can go up to the payment page, although I did receive the message. In any case, and just to be on the safe side, if I were you I would get in touch with GARP. Regards

In that case, indeed we were referring to a different questions. And if you are right, I misread the question yoi were referring to, because in the one were they provided 10 returns, and then said that 10 days had gone by blablabla, I thought they were asking for 95 Historical VaR, not ES...

As it was the case for the other 79 questions, I have no idea if my answer was correct, but I did do the numbers (three times), and I got that the amount received from the underlying loans, when taking into account defaults and recoveries, was exactly (to the dollar) the same as the scheduled...

And another question that I think has not been discussed: the one were a CLO structure was provided, including the width of each tranche, the coupon they each would receive and the defaults that it occurred during the life of the structure. The following options were presented: The equity...

I marked the same answer, although, as you, it was just an educated guess.

One can consider that ES is the conditional average of tail VaRs, and we could say that 95 ES can be approximated by a 97,5 VaR (in this case we take the median as average). In any case, this is just an approximation (but this word was indeed in the answer). What I can't really understand is why...

@Abhinav Agrawal , I am afraid that it is in fact just the opposite. A volatility weighting scheme divides past returns by the volatility that was applied then and it multiplies it by current volatility (it updates the volatility of past returns to account for present volatility). In your...

I was just checking BT's Basel III questions and I found the following (underlined the correct answer): B12.6. After Basel 3 is fully phased-in (e.g., January 1st, 2019), if national authorities have no (zero) countercyclical buffer requirement, what will be the minimum capital requirement...

The question said that you wanted to obtain higher VaR. Apart from the two options provided, which as it has been explained were not correct, the other ones were to use bootstrapping and increase the confidence level At first I chose bootstrapping, because when doing this you create random...

The question said that you had 8% CT1, but no other Tier 1 or Tier 2 Capital, and what could happen to the entity. I picked option A), because I considered that it did not meet the countercyclical bufer and thus its dividend policy was restricted. I discarded the 9,5% because it fell in...

About the Market Capital charge, the t-1 VaR was 120 and the average over the last 60 days was 45 with a multiplier of 3, which means that VaR was 135 (45*3>120). In the case of SVaR, the t-1 was greater than the (60DayAvg*multiplier), but I do not rememer the exact number. The correct answer...

Independent Amount (I think) is another name for Initial Margin. Thus, the greater the IA, the smaller the LGD. The threshold is a non-collateralized exposure, i.e. a counterparty does not have to post collateral until the threshold amount has been breached. An increase of the threshold or the...

I think the right answer to the SCDS ban question was that it hinders price discovery. I know that something like that is said in the reading.

I chose the other one, because of one (key) word: it said "sustained decrease"or something of the sort. The question was about stress scenarios, and in one of the possible answers it just said "a drop in oil prices" (and the currency thing), which happens very frequently, and in the other it...

There seem to be different opinions on what was the right answer to the LCR question. Personally, I answered that it changed to 140%, given the following: For the numerator: - The bank took 2B in deposits (a liability) and invested it in High Quality Liquid Assets (this much it said). It did...

I found it a bit harder than expected, and indeed at least faced 10 50/50 questions and 4 or 5 that I am sure I got wrong. If I had to blindly guess, I would say I probably got around 60 +- 2 answers right, and would be terribly surprised if they were less than 55. However, being so qualitative...

Thank you very much BT team. In 4 hours I will sit for the L2 exam in Madrid, Spain. Hopefully you will not be seing much of me after today! Thanks again. Saludos

@odhruvji, I know of people that have passed the test being in the 4th quartile of one of the sections, so I am pretty sure that the cut-off score, however they compute it, is exclusively based on your overall performance.

Fantastically explained. Thank you very much.