-Fama-French (positive correlation with SMB, small caps underperform large caps in the long term?) - This took quite a lot of my time. In the end I chose the one regarding Small caps outperforming large caps, and Value stocks outperforming Growth.
-Effect strong US dollar (balance sheet...
I think the answer for question on USD becoming a mean to measure volatility was that banks can magnify shocks. Next close answer was the one related to activities of intermediary banks, however, there I think they excluded European banks part.
In general, exam wasn't very much different from what I was expecting. However, as users also noted, exam seemed to be biased towards having more hazard rate/credit spread questions (I was quite happy though). Not much space was given for Basel.
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