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The exam was very tough. Theory question options were so close to each other, took time to figure out the correct answer. I scored well in BT mock and GARP mock, but that didn't help much.

Thanks David! It is very clear now. Need a help on spectral measures concept. Sorry, couldn't find the right forum page, so asking here. Will you please point me to right source in forum discussion/ any other source to have a conceptual understanding of spectral measures? Regards, Trilo

Thank you David! Appreciate your timely help! Regards, Trilo

Hi David, Can you please clarify the bold and underlined portion in your explanations above? what is Jorion's logic of choosing 90% VaR as -10%? how do we calculate 90% VaR as - 7.5% as per Linda Allen? Why do we use cumulative weight here? 90% VaR: According to Dowd, it's arguably -5% (loss...