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Thanks for the thorough response. My question however is why does being either to the left or right of point M mean that as an investor you are either lending (ie to the left of point M) or alternatively to the right of point M you are borrowing. Is it as simple as at point M you have fully...

Hi, There is a quote in the Kaplan materials that I hope someone can clarify for, the context isa discussion of the CML and point of tangency with the market frontier: "At any point to the left of M, investors are lending at the risk-free rate because some of their money is invested in...

Hi David, I have a question concerning the example that appears in the Hull reading on page 287, Figure 13.10. I have attached a screenshot. I am able to calculate the size of an up move factor, and down move factor as 1.35, .741 respectively, and the risk neutral probabilities of both up and...

Its a good point...if there is no change to Part 1 in terms of LO's etc then why is there a need for new ebooks?

Makes sense.....the last 12 months for a number of students has been challenging, to have made alterations may well have resulted in some students not bothering with the course.

OK....nothing funny about Covid at all in my opinion. Thanks

What is your point?

I agree that exams are tightly supervised...but whether it be CFA or FRM believe me Ive seen some outrageous behaviour that would immediately qualify as behaviour that meant those responsible lose their desigination.

In the northern hempisphere with the onset of winter, this will get worse so the exams slated for January have to be in doubt

How will GARP have different curriculums for part 1?

Yes....

Good question...I expect that a number of people have given the delays reassigned priorities and this may well be the reason for "no shows". Does this help for sitting candidates to pass, I really dont know.

I received one....really trying to be diplomatic in my responses, but feel that GARP have dropped the ball in the last 12 months

How do you mean super biased?

I thought that some of the GARP practice exam questions were on par with what was on the exam..with one of two questions on the practice paper also on the real exam as well. But to pass you need to do practice exams with GARP material, so you understand the layout. I was surprised that in HK I...

Where to begin...the exam was long but not so long that it meant that I couldn't finish. My strategy was to if I couldn't immediately pick the issue, then I moved on to another question. The BSM question I spent too long but got it right in the end as I was not treating the dividend correctly...

I used my calculator for that, but when inputting the data my TI started to retain the old data....

Well you said, if you have time...alot of people dont. The exam was long indeed and some parts were very nuanced..I recall the binomial option question, it was odd that you were given the combinations.

Agree, I also noticed that some questions on the 2020 GARP practice paper were replicated on the exam

No in Hong Kong...it was a very interesting experience, not intimidating just a thorough experience. My calculator got searched as well by two different people which I thought was very odd, given it is a standard TI. I dont know why I was singled out but I was.