FRM Part 2 based on FRM Part I LO?

[Tonio57]

Hey all, David,
Is it possible that the FRM part II exam includes questions that actually relate to FRM part 1 Learning Ojective only?
For instance, computing the delta (=N(d1)), compute the discount factor for bonds etc

Thank you!
Antoine

 

[David Harper CFA FRM]

HI Antoine (@Tonio57 ) Yes, it's more than possible, it is expected. But I want to be careful about what we are saying. For me, this is true:

• At least some Part 1 knowledge is assumed (and required) for Part 2. You gave a great example of that: discount factors. You need to know discount factors for Part 2 because they will almost certainly show up in Part 2 as a means to an end.

Part 1 is the toolkit and Part 2 is the applications. Therefore, Part 2 certainly utilizes (and assumes) concepts from Part 2. Nevertheless, I don't think GARP deliberately asks "P1 questions" (i.e., that belong in P1) in Part 2; rather some P1 concepts are often "means to an end". Neither does this imply that you need to remember everything in Part 1 when you sit Part 2! I hope that's helpful,