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On Page 19, I see ROE = A * r(a) - D * r(d) = 0.15 (as an example) where r(a) = return on asset, and r(d) = cost of debt. My confusion is that I thought ROE = [A * r(a) - D * r(d)] / E and [A * r(a) - D * r(d)] = income?

Hi David, in your study notes for Malz, page 19, you calculated ROE = Income , instead of Income / Equity. Am I missing something? Thanks.

Hi David, Thanks for your reply. How should candidates best prepare for the Current Issues section?

Hi Nicole, Thanks. A couple more questions, are there only 7 instructional videos (not 8) for the FRM II? In addition, can you advise why there is no Global Topic Drill or instructional video for the Current Issues in Financial Markets. Thanks.

Hi Nicole, I can see most of the review videos (and questions) are related to material from the 2012 FRM exam. Is there a summary of the list of changes between the 2012 curriculum and exam and the 2018 one? It would be very helpful. Thanks! Regards, Tom