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A risk of the Reverse Conversion is a dividend increase or a special dividend. So a dividend cut should be beneficial to holding the Reverse. Remember someone who is short stock needs to pay the dividend to the lender of the stock.

The way I see it as long as you pass Part 1, you are placing a good bet on Part 2. All you have to lose is the exam fee. When you say pass rate of 5% I assume that is to pass both exams. How many who take both pass Part 1 and not Part 2?

Don't forget Part 1 is more important than Part 2. It does no good to pass Part 2 if you fail Part 1. So make sure your Part 1 is tight, even if you have to neglect some stuff in Part 2.

I think they force you to Opt-in, and if you do nothing, you are not in there.

You actually have to opt in.

I like the way you are thinking, but, I don't think everyone is listed in the directory. I think a lot of people opt out. There have to be more than 3991 FRM/ERP's in the US, don't you think?

They responded to me after my phone call to them. It's a secret! "With regard to your inquiry as to how many certified FRMs there are globally and nationally, it has been confirmed to me that this is non-published information."

Since one of the capital requirements is proportional to volatillity the ECB has lowered the multiplier to offset the higher volatility. Seems like a bad idea to me. Markets are all over the place, the higher capital requirements seem justified. But their game, their dice, their rules...

Looks like it is final. Just got this email. December 2020 (Or June 2021 if you want to wait.) =========================== Dear Sixcarbs, As communities around the globe continue to adjust to the profound effects of the coronavirus, we at CFA Institute have been working on a new timeline for...

Thanks @David Harper CFA FRM, I don't think it does. I am going to ring them on Monday and see if I can get a straight answer. I will update here.

Hello, Does anyone know how many certified FRM's there are globally, and in the US? I have been googling for some time now and can't seem to lock down anything concrete. The closest figure that popped up was 50,000 globally, and it looked like that was from 2018. So, if anyone knows, and...

Thanks @David Harper CFA FRM, just what I needed! (For what I don't know yet, but maybe something good.)

I think it falls under the Study Guide titled under Operational Risk in Part 2: Capital Planning at Large Bank Holding Companies Is it covered in any other section? Thank you, Sixcarbs

Looks like you are right. Was hoping for August or September. https://www.cfainstitute.org/en/about/press-room/cfa-institute-coronavirus Q: What will be the earliest possible date for the exams? A: December 2020.

Sent.

This is one of my weakest subjects, so that's why I want to try and answer this. The Forward Libor rates, and the 2-year swap rates are all semi annual but quoted for the year. In other words, 5% semi-annual would pay 2.5% of the principal twice a year. So for each period you need to...

Based on this last spreadsheet for May, and using the same methods, and eliminating nothing I get the following. Delta 2791.1 Gamma 2954.6 2979.8 2990 3031.8 3046 I am still getting multiple gamma neutrals. Either I am doing something wrong, or that is just the nature of the results. I...

Yes, I did it all on Excel, but it's pretty raw right now. I may play with this more in the morning. Do you have anything for May expiration? Should be much cleaner than April with a day to go.

It seems to me you can easily have multiple gamma neutral levels. Ask him if that is correct?

If I eliminate the gamma below 2400 and above 3200 I get a 3rd Gamma Neutral around 3185, but I still have two others between 2750 and 2755, and between 2900 and 2905. Did I eliminate too much or not enough?