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1 1 2 1 1 1 I thought the result was rather bad.

has anyone tried this method? https://my.garp.org/apex/Exam_Results_Letter_May2018?id= plus the id from

Hi David, In page 7 of R31.P1.T4, there's an error in the following example.( PD=5.%, but PD in equation is 0.04)

In page 27 of R28-P1-T4, it says However, the following example is This means t=2.5, but the exponent is "2*0.5", which means t=0.5.

Hello David, in page 6 of R28-P1-T4: regarding the calculation of PV of 1 year bond Why are there 2 "$100*0.75%/2*0.99658"? I think there's only 1 cash inflow of 100*0.75%/2 at time T=1.

Hi david, in page 12 of R27-P1-T4, Hull's example 13.11: the result from my side is like this The figures in red are different with yours. But I cannot figure out why. Could you have a check? Thanks.

Hi david. In page 6 of R27-P1-T4, it says "The risk-neutral probability p= 0.6523". However, according to and I came up with the result of p is 0.5503 which is consistent with the result of the spreadsheet showed below. So where does "p= 0.6523" come from? In addition, does the symbol...

Hi David There're some deviation of the question 4 of page 153 in R19-P1-T3 from 182.5 which is listed in https://forum.bionicturtle.com/threads/l1-t3-182-impact-of-early-exercise-and-dividends-on-put-call-parity.4616/#post-12194.

Hello David, thank you so much for your timely reply. One missing point: For choice c) of question 4 in page 37 of R19-P1-T3, should it clarify that this only applies to a long position ?

In page 85 of R19-P1-T3: I think it should be at time T in the highlighted rectangle, not time zero, because you cannot get CC interest at time zero. In example 5.6 just below the chart, are these interest rates typo, or need some conversion? FIXED in v9.1

Another typo in page 72 of R19-P1-T3 Page 38 of R19-P1-T3, there's no answer to question 708.2. And for question 4(also in this page), choice B should be clarified that this only applies in long position. FIXED in v9.1

Hi David. I see you just update the study note for R19. In page 65 of R19-P1-T3: It should be 18*24 5.8%, not 4.0%, right? FIXED in v9.1

Thank you. David. I understand a short position should be used in scenario 2. But, what's the meaning of the last sentence "the underlying exposure is effectively a short position such that the hedge instrument is a long position. "? I think it's the same with the last sentence of scenario 1...

Hi david, Is this already fixed or not? I'm a little confused whether to use a short position or long position in scenario 2.

In page 24 of R16.P1.T2.Hull_v7-3(study notes): The last equation of Question 10.14, exponent of 0.97 should be 20, not 2.

In page 45 of R14-P1-T2, the formula seems not right. There's no variable Expn in it.

Another type in R10-P1-T1 Page 5 I think: This should be 5%

R10-P1-T1 Page 5 First bullet point: So, we revise the stock’s expected rate of return downwards from 10% to 9.2% 8.8%

R9.P1.T1 Page 8: In the Notes of the 2nd row, IR should be residual return ÷ residual risk, not "residual risk [aka, alpha] ÷ residual return"

R1-P1-T1 Page 34 "it should it..." Is it a redundant "it" in this sentence? If not, please forgive my poor grammar...