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I want to know the check list for things to carry for exam: 1. Calculator 2. ID proof 3. Do we get any exam ticket? if yes then how to download it? and when it will be received (approx.)

Hi @Nicole Seaman , I wanted to know if I can still change the exam date/slot for July 2021 FRM registration ( within July exam window). If yes, then how. Kindly advise. Thanks

Hi David Harper CFA FRM , Happy new year. why VaR rises at lower rate in case of positive skewness as compared to normal distribution? please help me with understanding.

Hi @David Harper CFA FRM Kindly help in better understanding of this topic or please help in providing needful resources for reference. Thanks (Topic 10 stationary time series page 26)

Hi @David Harper CFA FRM I am not able to understand below context. kindly help Updated by Nicole to note that this is regarding the study notes in T2 - Chapter 10 Stationary Time Series on page 13. As shown in the moving average process building equation above, the lagged shocks feed...

Hi @David Harper CFA FRM, Hope you are doing great!!! Dowd Chapter 14: Estimating Liquidity Risks I wanted to understand about how we compute liquidity cost? Why we divide spread by half by saying we assume we are not buying and selling at the same time, I mean what does that mean? What I...

Hi @David Harper CFA FRM , Gregory, Chapter 12: Default Probabilities, Credit Spreads, Funding Costs In your notes under the above topic, there is a sub-topic "Describe credit default swaps (CDS) and their general underlying mechanics" in this there you explained about how in recent times...

@David Harper CFA FRM How does selective tear-up of transactions or variation margin gains haircutting by CCP works?

Hi @David Harper CFA FRM Gregory, Chapter 7: Credit Exposure and Funding In the below table, You have explained the impact of collateral on the exposure amount. E.g Future value is 25 in scenario 1 with no collateral it means we have receivable of 25 from counterparty but if we have posted...

Hi @David Harper CFA FRM I am not able to understand below graph completely. I do understand the curve of the model and why it is upward sloping but at a decreasing rate. The curve of our model is increasing at a decreasing rate. This is so because it's cumulative distribution curve. If we...

@David Harper CFA FRM Please help me understand this concept. Rebalancing as a portfolio strategy is also a short volatility strategy which produces a long run volatility risk premium. Investors who do not rebalance (those who own 100% of the market) are long volatility risk and lose the...

@David Harper CFA FRM In Backtesting VAR chapter, one idea is shared wherein its been told that we can't use actual returns for VAR backtesting as they are volatile so we either use hypothetical returns or cleaned returns. Can you give one example as to how we get hypothetical returns from...

Which of the following is not consistent with the conditions for Wold’s theorem? A. Rational distributed lags are used to approximate the Wold’s theorem B. Covariance stationary is a prerequisite for Wold’s theorem C. Wold’s theorem uses infinite distributed lags D. The error term in the...

@David Harper CFA FRM What do we exactly mean by invertible i.e. Theta<1 in MA(q) process?

It's mentioned in our notes and I quote. " Every insurance company operating in the state contributes an amount to the state guaranty fund depending on the premium income it collects. When a particular insurance company becomes insolvent, this fund is then used to pay the small policyholders of...

Hi, I am unable to clearly understand two concepts. 1. Sinking fund provision 2. Maintenance and replacement fund Can you make me understand these in very layman language? Please give a simple example of each apart from GARP core reading example. Thanks!!

I wanted to ask that if inflation, a proxy for interest rate, increase then why currency depreciate? My explanation: If inflation increases, the interest rate in that country will also increase. Due to the increase in interest rate, the foreign investor will invest in that country and demand...

Can you please explain the reason behind this statement that I read in notes. From a mathematical standpoint, it is never optimal to execute an early exercise on an American call option on a non-dividend paying stock. However, it can be optimal to execute an early exercise on an American put...