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In the credit risk review for FRM L2, David talks about Economic Capital & Credit VaR. I know EC is a multiple of UL given that UL is one sigma around EL. However, there are two formulas used, CVaR is the quantile - EL whereas Economic Capital is mean + UL * sigma. And I recall that in some of...

Thank you Nicole. I think the link is broken to the 16 minute parametric VaR instructional video.

For those who passed L2 in May, did you use only BT materials or find additional material useful? What is the best approach to BT, I have the premium package - read the content, watch the videos, then do the questions? Trying to determine the best way to really absorb the content since L2 is so...

I just purchased the BT Professional package and signed up for the FRM P2 exam in November. I don't have enough in the tank to jump right back in to take the August exam after failing in May using another test prep provider. I don't want to leave any doubts next time around. There's so much BT...

Lushukai - one more question. With a very limited amount of time until 8/5, would you use BT or the GARP books? I don’t think I have enough time for both. I used Schweser exclusively for P2, felt like I knew it cold and didn’t pass. In your opinion, is Basic BT enough w/o looking at the GARP books?

Thank you! Appreciate the advice.

Good plan. Thank you. Also have a vacation 6/29-7/9. So may not work. You’re right about the GARP books, now that I’ve taken L2 I’ll need to actually read them given the level of detail in the questions and the qualitative nature of most questions. So that combined with Advanced BT - go all out...

I only used another test prep provider for L2, not BT. All of their bank, 4 mocks, both GARP mocks and another 180 past GARP questions. Even the calc questions, particularly CVA looked a lot different from what I learned. Felt good going in, but 50/50 on the way out. Similar to L1. Went 1,1,1,1...

Didn't pass unfortunately. I used BT and another test prep provider for L1 and did very well. For L2 in May, I used the other test prep provider and put in a lot more time than for L1. I did hundreds of questions if not thousands, their 4 mock exams (averaged 73%) and the two from GARP. 5...