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Thank You! That worked.

Has anyone tried searching their name in the FRM Directory on GARP's website? Mine did not show up... Wondering if they have not updated the list yet.

Certified. Submitted July 1 and got approval July 14.

Congrats! Still waiting for mine.

I submitted my work experience July 1 and have not gotten a response. Considering it takes 2 weeks on average, I am hoping to hear back from GARP this week. Congrats to all who cleared Part 2.

This was a mean reversion question to find long-term rate. I got 1.82 (0.6781/0.3722)

This was a question about ERM, I believe. I answered that it will help business line managers to evaluate projects based on the marginal value of risk contribution to the company's VAR (can't remember the exact verbiage).

I did.

I calculated PD for Year 1 (hazard rate) and PD for Year 2. Then derived EL for Year 1 & Year 2 and added them together since EL is linear and additive. I think the answer was $50.2MM.

I chose "the price of gold" will affect the exposure the most

I also think the exam was moderate difficulty. I wonder about GARP's motivation to lower the difficulty level of the exam, i.e. to increase the passing score (from the historical average of 55% to say 65%) or to let more people clear the exam.

VAR Mapping questions for fixed income securities were pretty basic, mostly on the difference between principal, duration and cash flow mapping. I recall one specifically referenced the necessity to adjust for yield returns VAR in the cash flow method.

The question was about impact of switching from OIS to LIBOR. I chose "dependence on bank risk"

I answered "0 bps." 187.22 = 200 x e^-(0.0331 + Spread)*2. Solve for Spread = o