Thanks S666
I just want to have logic behing left tail. If some employer takes a look on our Performance analysis…and Sees asks us to explain why left tail is best as per this analysis…What we will answer?
I am very open to understand lastest presentation.
Regards,
Anand Mishra
I havnt seen the new version where they use the left tail…is there any labelling of the scores along the bottom axis? I mean do they show the actual numerical scores going from Low to high?
Dear S666,
I don’t know how I can post images here. But I will try to explain it below:
For Quartile 3rd:
Understanding: Fair
Percentile: 26-50%
For Quartile 2nd:
Understanding: Good
Percentile: 51-75%
For Quartile 4th:
Understanding: Poor
Percentile: 0-25%
I dont know for Quartile 1st since I am not in that portion 
.
Shaded portion moves towards…Left for best scores…
Normally percentile is represented: http://www.afb.org/images/celeb_sol-figure2.gif
This is what I mean though - in that image yes the higher quartiles are to the right - but that is because they have labelled the percentiles moving from left to right. Although this is in my opinion the standard format - if they just reversed the labels and labelled the percentailes going from right to left - technically that is still correct as they have just labelled it in the opposite direction.
So my question is whether they have actually labelled the x axis showing the quartiles moving from right to left. If so then it is just a mirror image of the normal “left to right” method and just needs to be read in the opposite direction.
Does that make sense?
They generally dont write X or Y axis …even in past also they never did…Just to mention key point the 90 degree angle / Adjacent point is “Zero” and this zero starts from LEFT …
I think they should explain this.
If you can share email ID of yours (if you don’t mind) I will send you a screenshot for reference.
Warm Regards
@anand…I don’t get why you are making such a big deal of this…
Hmm…okay …then chapter close.
Not trying to be a huge a$$h0!3, but I think your time could be better spent.
I myself realized now its a non issue… This thing will be proved with time…if am right …if I am wrong then I will learn in future time…no need to waste time right now. Thanks
Hi Guys,
Passed the exam with 2.5 months of prep, and with flying colors. All top quartiles (1,1,1,1,1)
Also passed FRM 1 an year earlier with top quartiels (1,1,1,1).
I will post a detailed study plan soon.
But for starters, I could not attend the last 6 questions, and all my last 6 questions were theoritical. I just glanced them, when the invigilator warned about last 5 minutes. And I am aware most of them i had got wrong. So that gives an impression that the overall performance was poor for most candidates, and i must have secured higher quartiles due to relative scorings.
For preparations, I would suggest all aspirants to study the GARM study material for both Credit and Market risk. In credit risk the interest rate trees can become a little tricky when you study from the GARP books, so for those few chapters you can refer Schweser. Even the credit analysis and credit appraisal chapters you can refer schweser to save yourself from the lengthy boring chapters from GARP book. For wrong way risk, dont need to read the whole chapter from GARP book, but focus on the applications and examples provided int he first few pages. For CVA chapter, study from the GARP book, and understand the calculations provided in the book. I read them in details, and these numericals for CVA spread were never tested ever in FRM exam or practice papers i guess, but this time, they tested it heavily, much to my delight (3 questions if my memory serves me right)
Also to comprehend the entire Credit risk curriculum, i believe it matters in which order to study the chapters and how you club them. I will explain this in a separate comment, if people are interested.
For operational risk, i strictly followed the Schweser material. Give more importance to the last Basel related chapters.
Hope it helps.
