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Hi david: I think its a positive development. But it would be really difficult to estimate what will be the level of difficulty at first and second level. Because nvevertheless all topics of level II are also similar to level I. For example, What would they cover in Risk Modelling which will...

hurreyyyyyyyyyyyyyyyyy... I passed

Happy New Year...May this year bring best of luck for everybody best regards, peter

Dear David: First of all, I want to thank you for nice website and material. My experience was good, even better than what I expected. Some strengths of your program in my order of liking (a) webcasts (b) forum support (c) notes. I have two minor suggestions for improvement which was a...

I donot know any PRM website but you can find quite a lot of the same discussion by using search feature on www.analystforum.com

Hi David I donot know about amarnath so cannot say. Grinold yes there was a question on active beta calculation......nothing to calculate about poisson....i am sure there was a question on SPV but may be also on QSPV (50% doubt)....VaR was everywhere....looked like they wanted to be 99.9%...

Thanks David: your explaination is quite helpfull. distributions are somewhat confusing but lets hope the exam will not get too far off-the-point. best regards, peter

Hi David ! Sorry for again asking this but I am not sure whether (i) leptokurtic distributions are high peaked then thinner than normal and finally fatter than normal in tails (ii) platykurtic tails are fatter than normal (iii) platykurtic tails are shorter than leptokurtic but fatter as...

Dear Chih... That's really true. I mean it is also some kind of nuance because sometimes people say that FRM paper was difficult but I attempted even using flukes and passed so it means passing marks were not that high. But still one voluntary point can be to share here our performance in...

Yup..in operational risk section of forum, two three posts address the same issue.

Thanks David...nice explanation...I understood that they are different but I missed DB's refernce..so now its clear best regards, peter333

Hi David: I have two questions. (i) Linda allen chapter 5 (on Page 7 of notes) for income based models says that residual should be interpreted as operational risk. Please correct me, if I am wrong, should not it be alpha? because alpha captures the mean effect of omitted variables and...

nope...any other calculator is not allowed

Thanks David...your answer is quite helpfull and especially the referenced article is very useful and interesting best regards, peter

Dear David : I have two questions on De Servigny Chapter 4 on loss given default. May be you can help (1) You say that Kernel modeling is nonparametric technique. So I think it should not be based on some distribution and just from sample, we should make inference. But you write at the...

Dear David: I have one question in the parametric volatilities calculation spread sheet. You, in cell G11, use the EWMA formula and weight return and lagged variance with lambda and 1-lambda. while the variance input in this formula has been taken from cell I28 which is already the sum of...

Sorry David...I got it..it was really very simple

Dear David: Sorry for having such a basic question but still i want to ask it. For calculating annual volatility from daily volatility, we multiply daily volatility with the square root of 252 (total annual days). Why we use square root of days and not the actual days? best regards, peter

Thanks David...I hope I will be able to nail such questions down now .

Thanks a lot David..that explains a lot. peter