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If you have time, go with GARP texts and BT Study package with videos at a minimum. If you can handle the BT PQ's, the exam will be no problem.

Thanks, let's see if I pass. Anyone can buy a ticket and show up for all three. Yes, the morning felt easier than the afternoon, but I thought that was partly due to being drained from the morning session. I'm surprised to hear you say you thought Quant was harder than FRM. I felt very good...

Anyone else here take Level 1 on Saturday? Without going into question details, what did you think? I found it much easier than the FRM.

I think traditionally it is the first week of January, but I'm new to all of this.

I don't think so. It's just Conversion Factor (CF)xSettlement Price minus the Quoted Price. CFxSP is what the short will be paid, the Quoted Price is what it will cost him to acquire the bonds.

In the red book, I think they all had losses, so it was the one with the smallest loss, which was just a few pennies. I think it was the first or second. First comes to mind.

It was definitely a Uniform Distribution question. I put 62.50 at first, and then changed it to 37.50. Not sure which is correct.

Ok, next up, if anyone is game. I think this was question #11 in the red book. BSM price for the following put. Rf= 4% Stock price = $54 Strike = $50 Time to Maturity= 9 months Dividend= 6$, to be paid in 6 months N(d1) and N(d2), both adjusted for dividends were given. Can't remember the...

Correct. Thank you Detective. I feel like a fool. I did dozens of these in practice with no problems, multi-step and all. But on the test, I did not calculate the p(up) and p(down), and I knew this formula [p = (e^(r_f*t) - d) / (u-d)] cold. I just kept saying to myself since it wasn't...

Thank you, that problem still haunts me. I remember the question exactly if anyone else is up for trying it now. 6 month, 1-step binomial, European Put. (Question #45 in the Red Book) Index is 3300, will either go up 5% in 6 months, or down 10%. Strike of put is 3200. What is put worth...

It involved this formula if it's the one you are speaking about: Cov(X,Y)= E(X*Y)-E(X)*E(Y), solving for E(X*Y) Probability of both bonds defaulting given the probability of each bond defaulting individually, and the correlation between them.

I had a red book and I think I answered strangle to a question.

I don't remember it being cancelled, just remember it not being filled. It was placed the day before, after the close. A Fill or Kill wouldn't need to be cancelled, it is just filled or killed (Cancelled) automatically. This is one of the few parts of the exam where I have professional...

Did you have a red exam book or a blue exam book? I had a red one, and I think it was put.

Customer gives his order to the broker. You can place a limit order at any price, above or below the market. If your order to sell is below the market and the market opens higher, you get the higher price.

Stock closes at 65.xx once day. Customer places an order after the close to sell at 65. Stock opens at 63 and never trades higher. Closes at 5x.xx. What type of order? I remember the answer being a limit order.

I think it was delta of the put, which would be -.32, not .32 as I said above.

I think they were looking for the delta of the put, which would have been .32.

14. I saw that question and saw 1.4 as a choice, which is the square root of 2, so I went with that one.

I think the MonteCarlo question was something like this. A simulation has an average of 6 +/- 3. I think they just said the range was 3 to 9 after 5,000 simulations, and they wanted to know how many simulations to get the range down to 5 to 7. I saw that as bringing the Std. Deviation down...