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Passed with 13231. Clearly Schweser would not have been enough I think in my case. BT excercises greatly helped. Thx BT

Hi David, Refering to your study note problem 20.3 : What volatility smile is likely to be caused by jumps in the underlying asset price? You answers : "Jumps tend to make both tails of the stock price distribution heavier than those of the lognormal distribution." However in the above part "...

Hello, These readings appear in GARP 2017 objectives (as well as Chapter 13) but I can't find any study notes related to them. Could someone drive me to the correct location ? Many thanks Seb

Hi David, Thanks for the explanation and links, it's clear now. Cheers Seb

Hello, On this new topic study note page 12 regarding negative spread between IRS and Ties, it is written :"... unattractive for dealers to arbitrage away this dislocation." Could you explain or reformulate the idea expressed here ? I'm french ans I don't get what this sentence mean? Many thanks Seb