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Hi David, for the Exogenous part of this question, I was looking at your answer, where you mention " Random spread uses LC = 0.5 * [4% mean spread + 2.33 * 2.0% sigma] " How did you infer that 2.33 needs to be used. I thought the the bid-ask spread would be based on a two-tail normal...

Hi David, in the question below shouldn't it be July 1st instead of June 1st, assuming it is January 1st today. I am assuming that you are using 180 days to discount 100.0 million in the question i.e. " $100/(1 + 5.620%*180/360) ~= $97.26680. " I believe you were trying to do a present value...

Hi David, Are there any practice exams posted for FRM Level 2. Where on the web-site are these posted? -Manish

Hi David, Is there a updated comprehensive formula sheet for FRM Level 2. I saw there is one posted from Nov 2009. Not sure if I should be using that one (since it is around 3 years old), or is there a more recent one available. Thanks in advance for your guidance.

Hi David, A little behind schedule, and trying to catch up on the Investment Management Topic (Topic 8). I have looked at the videos, and am now trying to start with the practice sets on this topic. I didn't find any practice sets on the following topics: - Portfolio Construction: Grinold...

Is there a typo in Question 28.2 (practice questions for the Tuckman readings, page 10). Looking at the answers on page 11, it appears that a YTM of 5% (not 6%) is being assumed. Is there a typo in the question? Can someone please confirm.

I was looking at the Market Risk practice questions, and saw that there are practice questions for Tuckman chapter 21 (along with Tuckman chapters 6, 7 and 9), which are tagged as Essential. However, I don't see Tuckman Chapter 21 in the Study Notes for Market Risk. Wasn't sure if Tuckman...

Looking at the Practice Questions for Topic 6 - Credit Risk. Couldn't find the practice questions on the following chapters from the study notes: - Servigny , Chapter 4: Loss Given Default - Allen, Chapter 4: Extending the VaR Approach to Non-tradable Loans - Stulz, Chapter 18: Credit Risks...

Hi David, I am a little confused on a few Duration notations in the Topic 5 notes and wanted to clarify the following: Page 21: In the formula for DV01 what is being referred to as "t" (in lowercase) and what is "T" (in uppercase)? Got a little confused here, and want to ensure that I am...