Errors and wrong solutions in GARP practice exam

FRM
#1

Did anyone notice that few questions are solved wrongly or there is some errors in GARP practice exam?

#2

Yes it is well known that the GARP practice papers have several errors. Also, the same questions have not changed in years, so it is not a good idea to rely on them too much

#3

I know for one with an arbitrage profit which should be a peanuts but guidance says that it was some significant amount.

#4

If they don’t change such things then how we can rely on institute. They are making calculation errors, misprinting, half explanation… How we can say that evaluation is correct then?

People who are doubtful of passing the exam generally pass. Some people say they did bad but they passed, now I am not surprised why that happens.

GARP institute don’t have FRMs in their top management. Mostly they are CFA and Doctorates.

Shameful for GARP… I am planning to see PRM.

#5

Till now for Level II… I have discovered 5-6 errors…I have all practice exams and I am planning to write to GARP and shaming them for all this.

#6

One of the most common doubts for me is a VaR and ES calculation by historical method. There are, three approaches, for ex. 95 % confidence VaR of 100 events might be 5th, 6th or 5.5th worst event. I noticed that GARP usually puts all 3 solutions among choices. Funny. David Harper says that the 5th of the worst+1, thus exactly 6th is the most correct. However, I found that GARP favorites simply the 5th of the worst.

#7

Sorry for OT. Could someone confirm the things that we must bring with us are:

  • Admission ticket

  • Valid Passport

  • Calculator

we may bring:

  • another spare approved calculator

We must not bring:

  • pencils, sharpeners, erasers,

  • a watch

  • jewelry except the wedding ring

If someone who did P1 and P2 at once, what is supposed to do with afternoon part Admission ticket? Can I put that on the table during morning session as well?

I asked GARP but did not receive a coherent response.