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    Exam Feedback January 2021 Part 2 Exam Feedback (postponed 2020 exam)

    Passed Lvl2 !!! I echo everyone's comment - I could not have reached the depth of understanding and covered the breadth of the material without David and Nicole's help. Thank you to BT and all the participant in the forum that helped made this program as meaningful as it did for me.
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    2021 Exam Update from GARP (for 2020 postponed exam updates only)

    Thank you so much for taking all the extra steps to confirm and sharing the information with us on this forum!
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    2021 Exam Update from GARP (for 2020 postponed exam updates only)

    I really hope the exam is not impacted as well. Will keep an eye on the news tomorrow.
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    2021 Exam Update from GARP (for 2020 postponed exam updates only)

    Hi, I know for the May 2021 exam, we will be tested on the new FRM r Hi Nicole, At the risk of being overly cautious, I wanted to confirm that the 2021 curriculum changes does NOT apply to the January 16 exam. I can call GARP to confirm but I feel the exam should have already been...
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    2021 Exam Update from GARP (for 2020 postponed exam updates only)

    Hi nasandratraa, I don't know what GARP would do to respond to the COVID restrictions, if any. If I recall, the November exam went on as planned, while Montreal was in the red zone. I recommend you call GARP and ask for reschedule to May to see if they can accommodate. Evelyn
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    Merton model valuation

    Hi, I have a practice question (non-BT) related to the use of Merton's debt valuation model. An investor has a large position of bonds issued by XYZ Limited. He has hedged these bonds with equity using Merton’s debt valuation model. Suppose the value takes an unprecedented tumble, but the...
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    FRM Fun 13: Absolute versus relative VaR versus UL

    If drift is not included, it indicates relative VaR, not absolute VaR. I don't think Jorion necessarily indicated all the VaR he is referring to are necessarily relative VaR (i.e., without drift). Try this thread for further explanation on absolute vs. relative VaR...
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    2021 Exam Update from GARP (for 2020 postponed exam updates only)

    I called GARP Member Services. This is a previously unknown issue to them, and they have now started a ticket on it based on my call. I would stick to reviewing BT's questions for now as it is unlikely the issue will get resolved over the holidays. Evelyn
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    2021 Exam Update from GARP (for 2020 postponed exam updates only)

    @mattheweidinger: have you tried calling GARP? I feel like their response rate is much better over the phone than over email. I can try to call them tomorrow morning EST and see what can be done about the question bank. Evelyn
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    2021 Exam Update from GARP (for 2020 postponed exam updates only)

    I see the same error message for study centre. I didn't have a chance to check it out before it went down but I suspect they maybe the same questions as those in the practice exam.
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    Exam Feedback November 2020 Part 2 Exam Feedback

    For the Ho-lee and the CIR question, did GARP provide the formula in the question?
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    2020 Exam Update from GARP (updated on a regular basis)

    It would be useful to hear from those who wrote the Nov 21 exam in Montreal. What was the arrangement like? I thought Montreal was under stricter restrictions. How did GARP managed to comply with those restrictions? Perhaps the same strategy can be applied for Toronto for January?
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    Question on SaR

    Hi David, On the issue of the z-value to use to calculate SaR: GARP 2019 Practice Exam question number 24. In which the question asked for the "lower bound of the 95% confidence interval for the expected end-of-year surplus". The answer key uses 1.96 instead of the 1.645. I think the 1.96...
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    2020 Exam Update from GARP (updated on a regular basis)

    I checked GARP's announcement on CBT, which was issued in September. They explicitly said that CBT will be administered at secure exam sites and NOT remotely. Personally, I've found GARP's reluctance/inability to adapt to the changing environment disappointing. It is not like we're trying to...
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    2020 Exam Update from GARP (updated on a regular basis)

    o I won't be switching the exam location. Too risky. All our provinces are experiencing increasing COVID infections.
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    2020 Exam Update from GARP (updated on a regular basis)

    Thanks Sjegathe, Last time I wrote Part I in 2019, the room had >100 people and GARP booked 3 separate rooms in the UofT exam centre. I think I'm resigned to a 2021 exam now. Are you writing in Toronto too?
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    2020 Exam Update from GARP (updated on a regular basis)

    I'm registered for the Nov 21 exam in Toronto. I just reached Beanfield Centre and the rep let me know that remainder of 2020's events at the Exhibition Place are all cancelled due to COVID restrictions. The rep did not receive cancellation notices from GARP so she is unable to say for sure it...
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    2020 Exam Update from GARP (updated on a regular basis)

    I agree, capacity at Beanfield is not an issue. The rooms are huge. In ON, the gathering restriction for indoors is <10 people. The additional guidance on indoor event gathering is more detailed but still confusing...
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    2020 Exam Update from GARP (updated on a regular basis)

    What I mean is: GARP has not deviated from their standard script, offering no willingness to take my suggestions of blocking hotel rooms. I've said to GARP in my email, our local restriction is 10 people per room. In their response, they did not address or respond that restriction at all. Here's...
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    2020 Exam Update from GARP (updated on a regular basis)

    I asked this question on Sept 30, and suggested GARP change their venues like book a block of hotel rooms. I just got a canned response this morning. Basically it gives me no more information than what's already published on their website (i.e., GARP takes safety precautions, and GARP will REACT...
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