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Hi David. I remember watching one of your screencasts where you actually recommended a website for Excel courses (for some reason a girl's first name is stuck in my head). Could you please refresh my memory? Many thanks.

Indeed Amaranth was present. The difficult part is when you have questions that take 1 minute to read/digest/understand with some triple negativity. I also found some of the questions lengthy. I was actually caught by surprise in the first part of the exam and it seems like I was not the only...

Hi David, Do you plan to add more questions for the operation risk section by tomorrow (round 2)? How much would you say is a safe result on these practice questions (general question for all topics)? thank you.

Hi David, Can you please confirm the use of the formula in the calculation of the PD? I know there are 2 different ones and they both come down to the same thing but for some reason I cannot get the correct answer. Thanks.

Hi David The notes in Chapter 18: Credit Derivatives (Stulz) present the subordinated debt as "what's left over". Wouldn't this term be more appropriate for the equity value? I can understand that from a mathematical point of view this can makes sense but I am not sure about the logic from an...

Many thanks David. Your blog is quite clear and apparent on the main page although I was not aware of a daily screencast... I watched the SML and CML ones indeed but thought for some reasons that they were related to the Market Discipline. These blogs have been very useful. Regarding your...

Hi David, I remember reading a paragraph about the Sharpe/Treynor and Jensen ratios as well as the CML vs SML but cannot find the notes through all my papers... In addition, I can't remember whether this was an AIM for the exam or just something I read on one of your notes. Could you please...

Many thanks for your reply David. I just checked again and I believe that I figured out where the issue was coming from. I took the the 2007 quant flash quiz which includes questions on the Poisson distribution etc... my apologies.

Hi David, I just did your flash quiz test on the quantitative section. Are there questions related to topics that are not included in the LO by any chance? Some of them seem really abstract to me... many thanks

Many thanks Peter!

Hi David, The 2008 AIMS do not include any learning outcomes for the Basel Committee on Banking Supervision readings. Your notes, however, include several LO. Are these based on previous years' LO that are not included in the 2008 curriculum? Thank you.

Many thanks for your prompt answer David. It does make sense indeed.

Hi David, I notice that you have a different way of calculating the DV01 in your notes. Indeed, Tuckman defines it as follows: -(1/10,000)*(dP/dy). He also adds: "...the DV01 estimate at 4% does not make use of the price at 4%: the most stable numerical estimate chooses rates that are...

Many thanks David!

David, I have a question on page 96 of the quantitative discipline. You mention that "In EWMA, ...... a lambda that is close to one exhibits slow decay". I am a bit confused. A high lambda in this case means a higher weighting on the previous day's variance. Wouldn't this translate into a...