Yeah - I'll definitely have to change the way I prepare and attempt the exam. I was only at question 11 at the first 1/2 hour mark, so I probably rushed a bit much through the rest of the exam. The FX-related Binomial question through me off too. I didn't have a chance to think it through all of the way...
Exam Feedback November 2016 Part 1 Exam Feedback
- Thread starter Nicole Seaman
- Start date
Yeah - I'll definitely have to change the way I prepare and attempt the exam. I was only at question 11 at the first 1/2 hour mark, so I probably rushed a bit much through the rest of the exam. The FX-related Binomial question through me off too. I didn't have a chance to think it through all of the way...
kansal7mba
New Member
Does anyone remember the Delta and gamma question? I never saw this kinda question in either BT or Schweser. I think there were questions on FX Options which is even more difficult.
I would request BT to take this feedback and try to prepare 3-4 full length practice test close to real exam. We just have 4 practice test with 25 questions each.
There is marked difference in your energies in the first and 4th hour.
I would request BT to take this feedback and try to prepare 3-4 full length practice test close to real exam. We just have 4 practice test with 25 questions each.
There is marked difference in your energies in the first and 4th hour.
The Wembley exam center was a mess. For a competitive examination, candidates were standing outside in the bitter cold for up to 45 mins. My mind was frozen by the time I started writing the exam. Took a good 30 mins to thaw properly 
- Jokes apart GARP should pay heed - as it is the candidates are tensed.
- Jokes apart GARP should pay heed - as it is the candidates are tensed.
Rohit
Member
Did anyone else feel that the first 20 and the last 20 problems were a lot easier than the middle sections ? In retrospect I wish I had read the entire paper before starting the exam 
Also, given more attention to hedging with options and less time to Fixed Income ..
Also, given more attention to hedging with options and less time to Fixed Income ..
Hello Nicole,
Thank you for the reference - gives a good indication. I also noticed some candidates who passed have quoted four numbers. What do they represent?
AlecMardirian
New Member
there was a question on a strip hedge vs stack hedge when forward rate curve is upward sloping , which is more beneficiary between the two hedges ? anybody knows the answer for this?
Frm part 1 is divided into 4 broad topics:-
1) Foundations of risk management
2) Quantitative analysis
3) Financial markets and products
4) valuation and risk management
When we get part 1 results apart from mentioning pass/fail GARP tells us which quartile we belonged to in each of these topics mentioned.
So if someone says 1,1,2,3
It means the person was in first quartile for topic 1 and 2 whereas in quartile 2 for topic 3 and quartile 3 for topic 4.
1) Foundations of risk management
2) Quantitative analysis
3) Financial markets and products
4) valuation and risk management
When we get part 1 results apart from mentioning pass/fail GARP tells us which quartile we belonged to in each of these topics mentioned.
So if someone says 1,1,2,3
It means the person was in first quartile for topic 1 and 2 whereas in quartile 2 for topic 3 and quartile 3 for topic 4.
gbengress1
New Member
I chose option A, when the storage cost is low. Hope I am right
I recall the question, it was about when is more beneficiary. If Forwards rate are upward the forwards will be expensive over time, so is more expensive stack and roll over time than 1 pay in strip hedge during 1Y for example. If you short the future in order to cover your position, next time when short sale ends, your cost of rolling would be greatter (remembering you´re selling something that you should buy in the next future due to the fact you dont have the future contract), For me is like a continue short selling over time of a upward share (you sell at 30 and after X time you should buy again, at 34 for example). It´s only another opinion. Anyway, it´s only a 0,01% this question haha
I see. Thanks for clarifying.
[email protected]
Member
you mean from Bionic Turtle?
if you go onto your account, you have access to BT for a year I believe. i.e. I joined on 8th Jan 2016 so as we have results on first week on Jan 2017 I can still have access to part 1 for a week after the results are published.
Good question - I would think so since they only contain 2016 LO's.
Some folks are saying less than that.
seidu
Member
Thanks @David Harper CFA FRM !!! In fact, I could not been able to give my feedback on the exam because a lots have been said already!! However, Backtest VaR ( i.e. number of exceedances) was tested in P1 as well.
I agree with colleagues on the time constrain. When I took the question booklet, i quickly run through the questions and immediately smiled ! knowing I can do as many questions as possible. (but at question 40 or 50 "cant recall") the invigilator called " an hour more". Hmm, this made me trebled and started going faster!!!
Although I must admit on my part that most of the quantitative questions (especially ones involved with poissons) were easy (if you can figure out your lambda then just slot in the formula and HURRAY
!). I recalled very well also the way in BT notes you solved for the Backtesting VaR using Binomial distribution (That, I couldn't afford to miss!!
)
Hands crossed until 03/01/17.
Regards
Seidu
I agree with colleagues on the time constrain. When I took the question booklet, i quickly run through the questions and immediately smiled ! knowing I can do as many questions as possible. (but at question 40 or 50 "cant recall") the invigilator called " an hour more". Hmm, this made me trebled and started going faster!!!
Although I must admit on my part that most of the quantitative questions (especially ones involved with poissons) were easy (if you can figure out your lambda then just slot in the formula and HURRAY
!). I recalled very well also the way in BT notes you solved for the Backtesting VaR using Binomial distribution (That, I couldn't afford to miss!!)Hands crossed until 03/01/17.
Regards
Seidu
Hi borndreamz, what i have heard uptil now people tell me that the mps does not matter as the results are basd on percentile system like if they decide to give 45% pass result the lucky top 45% mass will clear still not sure about that
Linghan
Active Member
I was taking test in DC, unaware of the situation.
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