This thread is to give our members a quick reference to the new and updated Part 1 materials that we publish throughout the 2021 exam period. We will include the date that the materials were updated or published so you know that you are using the most up-to-date materials. To follow this thread, click on "Watch" in the upper right corner of the page.
Please make sure to read our publishing process thread here regarding if and when specific materials will be published: https://forum.bionicturtle.com/threads/please-read-publishing-process-for-2021.23610/. Thank you
Foundations of Risk Management
FRM 1 - Chapter 1. The Building Blocks of Risk Management
QA4. Chapter 1. Fundamentals of Probability
FMP-1: Chapter 1. Banks
VRM-1 - Chapter 1. Measures of Financial Risk
Please make sure to read our publishing process thread here regarding if and when specific materials will be published: https://forum.bionicturtle.com/threads/please-read-publishing-process-for-2021.23610/. Thank you
Foundations of Risk Management
FRM 1 - Chapter 1. The Building Blocks of Risk Management
- Study notes updated to v5 on 01/29/21 (no new content/one LO removed)
- Study notes updated to v5-2 on 08/02/21 (pages 7 & 8 only)
- Study notes updated to v3.2 on 01/29/21 (no new content/2021 LO wording change)
- Study notes updated to v3.2 on 01/29/21 (no new content/2021 LO wording change)
- Study notes updated to v3-4 on 02/02/21 (no new content/2021 LO wording change)
- Study notes updated to v3-6 on 07/26/21 to fix error
- Study notes updated to v3-1 on 02/04/21 (no new content/chapter title change/one LO removed/LO wording change)
- Study Notes updated as v5 on 08/02/21
- Study notes updated to v3-4 on 02/05/21 (no new content/2 LOs removed)
- Study notes updated to v3-4 on 02/09/21 (no new content/typos fixed)
- Practice Question set updated 09/16/21 to v3-2 to fix bookmark errors only
- Study notes updated to v3-3 on 02/09/21 (no new content/typos fixed)
- Quiz and PDF updated 07/16/21 to v5.3 to fix errors
QA4. Chapter 1. Fundamentals of Probability
- Study Notes updated 09/17/21 to v3-6 to add content:
- pages 5 and 6, examples and figures added for unconditionally dependent yet conditionally independent events and unconditionally independent, yet conditionally dependent events.
- Study Notes updated 09/15/21 to v3-7 to fix errors:
- page 3: "Be able to manipulate the fundamental probability relationship: conditional equals joint divided multiplied by marginal; i.e., P(B|A) = P(B ∩ A) × P(A)" changed to "Be able to manipulate the fundamental probability relationship: conditional equals joint divided by marginal; i.e., P(B|A) = P(B ∩ A) / P(A)"
- pages 3 and 17 formula: w^2 σ(1)^2+w^2 σ(2)^2+2w(1-w)σ(12) changed to w^2 σ(1)^2 + (1-w)^2 σ(2)^2+2w(1-w)σ(12)
- page 11: Cov (a + bX, c +dY) when X and Y are independent is corrected.
- Study Notes updated 09/17/21 to v3-6 to fix errors:
- page 5, summation sign is added
- page 17, square root is added for n.
- Study Notes updated 09/17/21 to v3-5 to fix errors:
- Page 28: small correction in the t-statistic formula
- page 29, finished incomplete paragraph
- Study Notes updated 09/17/21 to v3-4 to fix errors:
- page 4, Y in the second step regression formula is replaced with gamma.
- page 6, omitted variables bias notes and formulas edited to match with the GARP version.
- page 10, the cook's distance formula is corrected. Note on k added.
- page 11, our reference to chapter 7 has been corrected to chapter 9.
- Practice Question Set Updated to v3.2 on 03/22/21 to update changes noted in the forum
- Practice Question Set Updated to v3 on 04/21/21 to add new PQs
- Practice Question Set Updated to v3 on 05/06/21 to add new PQs
- Study Notes updated 09/16/21 to v3-4 to fix error:
- page 7, the word "five" in the example replaced by "ten" to match with the calculations
- Practice Question Set Updated to v3 on 05/21/21 to add new PQs
- Quiz and PDF updated to v5.5 to fix errors
FMP-1: Chapter 1. Banks
- Practice question set updated to v3 to add new PQs 06/02/21
- Practice question set updated to v3 to add new PQs 06/24/21
- Study Notes updated 09/08/21 to v3-2 to fix error on page 14
- Study Notes updated 09/20/21 to v3-3 (page 18 - Correction: Operation ratio = combined ratio after dividends - investment income)
- Study Notes Updated to v5 on 12/11/20
- Study Notes Updated to v5 03/19/21
- Study Notes Updated to v3 on 12/14/20
- Study Notes Updated to v5 on 09/21/21 page 15 (PPP theorem: formulas and example updated to give clarity)
- Practice Question Set updated 09/22/21 to v1-2 to fix answers to 500.3
- Study Notes Updated to v3 on 12/15/20
- Study Notes Updated to v3 on 03/23/21
- Study Notes updated to v5 on 09/21/21
- Pg. 12 and 13: in the table, $3.0 corrected to $3.3
- Page 17 line 2: F (0,1) corrected to F (0, T)
- Study Notes Updated to v3.1 on 03/25/21
- Study Notes Updated to v3 on 04/21/21
- Study Notes Updated to v3 on 04/19/21
- Study Notes Updated to v5 on 09/22/21
- Pg.10, numerical correction carried out in example; $5 replaced by $7 & vice versa. Corrected to 10 + $5 – (2 × 7) =$1
- Study Notes Updated to v3 on 06/17/21
- Study Notes Updated to v3 on 06/24/21
- Study Notes Updated to v3 06/30/21
- Study Notes Updated to v3 on 06/25/21
- Practice Question Set Updated to v1-1 on 02/02/20 to fix typo in question 723.1 on page 12
- Study Notes updated to v3 on 08/02/21
- Quiz and PDF updated 07/19/21 to v5.6 to fix errors
VRM-1 - Chapter 1. Measures of Financial Risk
- Study notes updated 08/17/21 to v3.1 to fix errors on page 20
- Study notes updated 08/17/21 to v5
- Study notes updated09/27/21 to v5 to fix errors
- Page 14: "Unconditional PD" in the formula corrected to "Conditional PD"
- Page 21: in the second last paragraph the word "qualitative" corrected to "quantitative"
- Study notes updated 09/27/21 to v5 to fix errors
- Page 12, expected loss formula corrected: EL = PD × LR = PD × (1 - RR)
- Study notes updated 09/27/21 to v3.3 to fix formula error on page 8
- Study Notes updated 8/17/21 to v3
- Study notes updated 08/17/21 to v5
- Study Notes updated 8/17/21 to v3
- Quiz and PDF updated 07/20/21 to v5.2 to fix errors
- Mock Exam 2 published in Interactive format 01/13/21
Last edited:
