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I think I had the same answer for this as well. I believe there were 2 that had the same numbers, and then the difference between the 2 statements was suggesting whether multifactor could predict the expected return / the market movement better or something.

I have not taken any other sittings. I read the other exam threads and it seemed to be similar sentiment that the exam is always more difficult than the GARP exams or the providers. I personally found it a very difficult challenge in the time pressure and for some questions, more time would not...

Ah.. I can't remember exactly what the question was, something about 2 normal distributions so I chose C/the one on Gaussian copula. Not very sure... I found the paper having so many difficult qualitative questions on items that's not a big LO

I think it was antithetic as I recall the question specifically called out "complementary" set of inputs or something of that sort.

Hi @David Harper CFA FRM, there is also this Miller end of chapter practice question I had a question on. Please move if not in the right place. Question 11 A $100 notional, zero coupon bond has one year to expiry. The probability of default is 10%. In the event of default, assume that the...

Hi @David Harper CFA FRM , I am also stuck on this question and have been searching the forum for answers. Could you explain how you reached $1,000,000 × [0.02 + (1.0 × Rm)] − $1,000,000 × [(−0.02) + (1.0 × Rm)] = $1,000,000 × 0.04 = $40,000 without skipping steps? How are we using alpha to...