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I passed Level 2. (2,1111) A huge thanks to Bionic Turtle - I could never have done this without you. I will be recommending you for years to come

so exam 2 results were sent to you via email?

Noa, a huge congratulations. I haven't heard of anyone else who has recieved an email. I just want to make sure there isn't something wrong with GARP contacting me. Have you spoken with anyone else who recieved an email with their results? I took Level 2 in May. I would be grateful if you let me...

Noa, congratulations. I haven't recieved my results yet via email. How do you know?

I’m confused by the concept behind the interpolation calculation in this problem. Any help is greatly appreciated. Because we want to compute the VaR for a bond with a maturity = the duration of the portfolio (i.e. 2.885) we choose bonds with maturities on either side of the 2.885 (a two year...

Aaditya, I'm so appreciative that you took the time to help me. Thank you very much

In the Credit Risk: General Questions, number 213.1, I’m struggling with David’s calculation for the expected loss. I understand the calculation for the probability of zero defaults of 98.9846%, but I don’t understand the probability of default of 1.0119% of a 1mm loss and I similarly don’t...

Suzanne, I was hoping to upgrade my package with Bionic Turtle so that I could have access to Part 2 of the FRM. I’d like the most comprehensive package for level 11. Given that I currently have access to level 1, do you mind explaining how we can upgrade? Thanks very much, Chris

I think it apropos that when GARP releases your results they don't just tell you what quartile you're in, they also provide the normal curve with you're respective quartile demonstrated in white vs the rest of the distribution in blue. All quant, all the time at GARP!

Dear David and Suzanne, I wanted to sincerely than you for all of your tremendous help and excellence that you provided me as I prepared for the FRM Level 1. I passed the exam. I actually finished in the top quartile in three of the four sections. I would never have come close to...

May I ask a brief question. When we learn if we passed or failed FRM Part 1, does GARP provide any detail re how you did? Or do they just let you know if you passed or failed? Meaning do they give you some idea of how you scored in the various sections or how many you got right etc? I'm a CFA...

I agree with all of the above comments with the exception of Aleksander who sounds like he did great. This exam was bordering on exponentially more difficult than any of the practice exams GARP has provided: 2012 practice and the actual 2011 and 2010 actual exams. They tested similar concepts...

I see that David posted a mock exam for level one. Does he have a recommended amount of time one should take when taking the exam? Thanks for the help, Chris

David/ I have a question about time- scaling volatility. I want to make sure I’m very clear on doing this correctly. On page 9 of your PDF accompanying video 4.a, Valuation and Risk Models, when you scale down to a 10 day volatility from and annual volatility, I believe you do the following...

David/ I'm going through the videos which are terrific, but I have two quick question. First, in the PDF for video 4.B when you are valuing an American option you calculate an up-move probability of .6282. when I compute it I come out at approximately .53 : [(e^(.25*.05) - .8)/ (1.2 -.8)] = .53...

David, thank you. And my apologies for not reading the question closely. I really try and find answers to my questions before I take up your valuable time. But I greatly appreciate your help. Bionic Turtle is a tremendous resource. Thanks again

David/ I have a couple questions regarding question 173.1. First unlike in question 172.6, there is no convexity adjustment in 173.1 where we take the future rate and convert it back to a forward rate. Is there a reason why we didn’t need a convexity adjustment here, even though we are using a...