Exam Feedback November 2020 Part 2 Exam Feedback

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That‘s just so annoying - I figured that was the formula, but the numbers didn‘t match (1.68 rounded down to 1.6), whereas there was a number thaz matched Duration of Assets - Assets / Liabilities * Duration of Liabilities, so I talked myself into that being the right answer. So stupid that they have wrongly rounded answers in the exam

yes and they had an option of i think 2.02 so i just rounded up instead of rounding down .
 

SindujaP

Member
I found the exam quite challenging! Quantitative questions very pretty straightforward except for 1 or 2 but qualitative was crazzzzy! I thought there were so many qualitative questions with multiple right answers
 

bld_kr

New Member
Isn't there a answer that the manager invest a good portion of their own wealth? I Don't remember exactly, but i saw the book.
And what is the answer about pf construction technique about screen, stratification, etc?
Anyone remember these questions?
 

mattheweidinger

Active Member
It seems to me that from the October and, so far, the November comments the qualitative questions tend to dominate in terms of quantity and were more difficult. For those who wrote the part 2 exam - can you speak to the following:

-What was the split between quantitative and qualitative questions? Roughly speaking...
-What type was more difficult - quantitative or qualitative
-What prep questions prepared you most for both types? GARP prep exams? GARP online question bank? BT? Other???
 

Razi

Member
That‘s just so annoying - I figured that was the formula, but the numbers didn‘t match (1.68 rounded down to 1.6), whereas there was a number thaz matched Duration of Assets - Assets / Liabilities * Duration of Liabilities, so I talked myself into that being the right answer. So stupid that they have wrongly rounded answers in the exam

I did exactly the same :(
 

Razi

Member
What is anyone's guess regarding the passing marks or rate this time? Would it be affected by so many defferals?
 

Feola

New Member
It seems to me that from the October and, so far, the November comments the qualitative questions tend to dominate in terms of quantity and were more difficult. For those who wrote the part 2 exam - can you speak to the following:

-What was the split between quantitative and qualitative questions? Roughly speaking...
-What type was more difficult - quantitative or qualitative
-What prep questions prepared you most for both types? GARP prep exams? GARP online question bank? BT? Other???

I think that it was about 65/35% quali/quant.
The qualitative, apart from minor exceptions on the quant, were definitely trickier.

There was a lot of qualitative questions that mixed different topics.

What is anyone's guess regarding the passing marks or rate this time? Would it be affected by so many defferals?

I would really like to know that too. From what I read, on the October test they seem to have had more deferrals and maybe the mean will be upward biased from having only the ones that were more prepared attending to the exam.
Here in Brazil, there is only one test site, and there were 15 people on the room only. I would expect garp to get the pass rate higher for it to be fair, since we probably had only the ones that were better prepared actually showing up on exam day, like they had in October.
So I really cant say if the 50/52 mark will be enough like it was in past years.
 

Nicole Seaman

Director of CFA & FRM Operations
Staff member
Subscriber
Is just me or are these Feedback threads actually very inactive compared to previous year? :rolleyes:
Hello @Razi,

Yes, but since there were so many deferrals and postponements to January and May, I did expect that the feedback threads would not be as active in October and November. I'm sure there were probably a number of people who did not show up to the exam if they were not able to defer because they did not want to take the chance with the virus. This entire year has caused so many changes just with the way that we have to do things here at BT, and I know it has affected the candidates greatly also. Let's hope that 2021 is a bit less hectic (and healthy!) for everyone! ;)
 

s.yerbooty

New Member
I found the exam fairly doable, the level of difficulty was comparable to the Garp practice-exam. Some of the more text-dense questions were tricky, hope I haven't fallen into too many traps there.
Overal I wonder how closely aligned the exam is to the weightings of the sections in the curriculum. Only 3 questions seemed to relate to the 'Current Issues in Financial Markets' section, whereas a topic like Raroc was appearing in 3 different questions.

Garp managed to find a very nice spot in Amsterdam, a majestically large, monumental hall accomodating only 15 contestants or so and noticeably well ventilated, which felt a bit chilly but hopefully safe from the virus.
Regarding the passing-score: should the scores be higher than average, I think (hope at least) Garp will also account for the fact that the attendance was lower and that the people who did show up were probably fairly well prepared, rather than conclude that the exam was perhaps too easy and raise the passing-score. So the percentage passing the exam may be higher than average.
 

Feola

New Member
I found the exam fairly doable, the level of difficulty was comparable to the Garp practice-exam. Some of the more text-dense questions were tricky, hope I haven't fallen into too many traps there.
Overal I wonder how closely aligned the exam is to the weightings of the sections in the curriculum. Only 3 questions seemed to relate to the 'Current Issues in Financial Markets' section, whereas a topic like Raroc was appearing in 3 different questions.

Garp managed to find a very nice spot in Amsterdam, a majestically large, monumental hall accomodating only 15 contestants or so and noticeably well ventilated, which felt a bit chilly but hopefully safe from the virus.
Regarding the passing-score: should the scores be higher than average, I think (hope at least) Garp will also account for the fact that the attendance was lower and that the people who did show up were probably fairly well prepared, rather than conclude that the exam was perhaps too easy and raise the passing-score. So the percentage passing the exam may be higher than average.

Fingers crossed here for them to do that!
 

bld_kr

New Member
This is right. It is included in GARP practice exam.

This must be the answer. Stratification will reduce the effects of bias in estimated alphas across the categories of firm size and sector.
Thanks. What about the screen that the question say? I don't remember exactly, what i selected screen or sfratification. . .
 

bld_kr

New Member
Hello,

The exam was very tricky with a lot of questions qualitative.

Questions that i remember:

1- One in which both sides are exposed to wrong way risk
2- Calculation cox. 2,89 answer
3- Calculation ho-lee. think answer was 55 pb.

4- DtD (LN (MV/FV)/desv)
5- BCVA - 410000 answer
6- One with PD*-PD*EAD*LGD ... think was 8,3 the answer
7- stress var
8 - libor (answer was binding ... ?¿?
9 - one that the answer was long coupon and short variable rate
10- Unexpected loss.
11- RAROC
12- ARAROC
13- one that you have to select directly doing the Return - CAPM return. Select the one ith highest alpha
14- collateral. select the one with the threshold small and margin perior small (the left one on the table provided)


Someone can remember more?
I added.

1- One in which both sides are exposed to wrong way risk
2- Calculation cox. 2,89 answer
3- Calculation ho-lee. think answer was 55 pb.
4- DtD (LN (MV/FV)/desv)
5- BCVA - 410000 answer
6- One with PD*-PD*EAD*LGD ... think was 8,3 the answer
7- stress var
8 - libor (answer was binding ...
9 - one that the answer was long coupon and short variable rate
10- Unexpected loss.
11- RAROC
12- ARAROC
13- one that you have to select directly doing the Return - CAPM return. Select the one ith highest alpha
14- collateral. select the one with the threshold small and margin perior small (the left one on the table provided)
15. Asset allocation 0.32%
16. Ccp select the one which total net exposure
17. Screen stratification
18. Adjusted duration gap 1.68?
19. Regression hedge calculation
20. Manager invest their own wealth
21. Super, Unsupervised ml Explanation
22. Mean reversion
23. Climate risk Explanation
24.Money laundering correspondent banking
25. Volatility smile Explanation
26. Psa / smm Calcaulation and select highest
 
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