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    GARP Practice Exams

    Are the preparations exams that GARP provides the questions from previous exams or are they just questions to practice? Here are the exams I referring to: http://www.garp.org/frm/study-center/practice-exams.aspx So for instance, the 2014 practice exam, is that the exam from May 2014? Thanks
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    Hedging

    I'm confusing with when to buy or sell the hedge. I'm seeing many different problems and they don't seem lo follow a logic. If there any logic to it? Something like: When owning a portfolio --> short sell hedge When shorting a call or a put --> buy hedge or something like that? THANK YOU SO MUCH
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