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  1. M

    Capital structure question

    Hi Suppose have capital structure of senior: 100m, Mezzanine; 50m and Equity: 20m. what's credit enhancement of senior tranche? Looking for example similar or pointers on solution thanks
  2. M

    credit spread - continuous compounding question

    Hi There was a question like calculate credit spread and express in continuous compounding. I believe they wanted us to use FRM I material for an FRM 2 question. If the credit spread is 3% then how would one express in terms of continuous compounding?? thx
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    RAROC Tax rate

    Hi In some sources i am finding that we multiply the numerator (Revenue +ROCE - EL - Int - Op) by the tax rate as it is whereas other sources it says I need to multiply numerator by (1-Tax rate) why is this? Thanks
  4. M

    Delta of a forward chart

    Hi just a quick on I am trying to understand OTM and ITM positions in forwards and what the delta would be. Does anyone have a chart. Thanks
  5. M

    Surplus at risk

    Hi I have a question on calculating surplus at risk which states that formula to get this is MU - SIGMA x Z but another question says "compute at 95% confidence level that surplus value will be less than X" i.e what is X, for this final answer we use MU + SIGMA x Z. Why the difference in the...
  6. M

    Per 100 FV question

    Hi A quick one. Concept around when they quote bonds or DV01 value as per 100 face value. I want to clarify understanding. So if quote DV01 as 6 per 100 FV then effectively if the bond value is 1000 then that's just 6*10. DV01. I think there must be question somewhere that has this wording...
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    Individual GARP Membership

    Hi I see you can become a member of GARP. Is it necessary to pay the $195 fee to be able to take the FRM 1 exam? Or can you not be a member and still take the FRM 1 exam? Thanks
  8. M

    GARP unresponsive - Confirmation of appointment e-mail

    Hi When do we receive this for the exam? I have my appt listed on my online portal but no e-mail to date which I need to take into the exam. Thanks
  9. M

    Swaps question P12 in the notes

    Hi In this example shouldn't the floating leg have the same number of cash flows as the fixed leg. In this example there is one cashflow for floating and I can see the explanation in red but don't understand it. Thoughts? Thanks
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    Day counts

    Hi A question that I think has a very straightforward answer (apologies in advance) but I don't know the answer: For question 3.11 in the pricing conventions, Discounting and Arbitrage section we have an actual / actual day count. The question refers to coupon dates in 2014. Now each year...
  11. M

    FRM Level 1 - May 2020 - Study Partner? - London

    Hi Anyone in London taking this exam? Can exchange details. Thanks Vijay
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