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I received the confirmation email today from GARP (sent my CV on 1st Jan.) The status has been changed to FRM/ERP Status: Certified FRM.

Thanks so much BT!!! 2/1/1/1

Thanks so much BT!!! Market Risk: 2 Credit Risk: 2 Operational Risk: 3 Investment Risk: 1 Current Issues: 2

Thanks so much for your very clear explanation.

I may have some misunderstanding of these approaches and have some questions : p. 25 First approach: Surplus at risk = 21.87% * $1000 (the assets value). Why use assets value but not $100 (the surplus value)? p.26 Alternate approach : Surplus at risk = 18.1 (but why not volatility of...

Thanks so much for the very clear explanation.

Sorry for the simple questions. Could you please explain why there is a negative in front of mean? Normal dis. VaR is (-mean+sigma*z)*V Also what are relative VaR and absolute VaR? Thanks