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Are the preparations exams that GARP provides the questions from previous exams or are they just questions to practice? Here are the exams I referring to: http://www.garp.org/frm/study-center/practice-exams.aspx So for instance, the 2014 practice exam, is that the exam from May 2014? Thanks

I'm confusing with when to buy or sell the hedge. I'm seeing many different problems and they don't seem lo follow a logic. If there any logic to it? Something like: When owning a portfolio --> short sell hedge When shorting a call or a put --> buy hedge or something like that? THANK YOU SO MUCH