I second that… for #9, i would take a guess of PD = CS / (1-RR) and 1-RR is just LGD. Where in the world did they get that nasty equation in the answer key? I’ve never seen that in the Schweser book!.. pathethic, the GARP exams owned me. I hope the real one isn’t representative of these practice ones. Ouch.
Aweful… What in the world is #22 on GARP Full #1. I spent 5 minutes trying to solve for it… I SWEAR it was some sort of trick, probably all the information is already given somehow in the problem. I was sooo fooled.
I got 55% twice on both FULL 2009 FRM Exams. Aouch! Now time to learn from the mistakes.
Number 22 on GARP first exam 2009 is insane… I dont understand it… My logic was right that it was a high %, but that gives me 50% of chance to have it and I got it wrong LOL.
well, you can’t really solve it because they don’t give you the input #s… lol
I like the question 50 of the second exam, choices are E) F) G) H) LOL!
12:43am finally done w/ both GARP exams… they were indeed scary: so many tricky questions that asked for daily STD, but instead i picked the annualized variance… then in Exam II, there were so many Basel II related questions (I think in Exam I, there were just too many CDS questions)… so I hope that these practice exams aren’t fully representative of the real ones. Exam 1: 72% Exam 2: 75% Don’t feel too great though … I’ll review my formula sheets + Key Concepts from Schweser tomorrow. Good night ya’ll.
smartrisk Wrote: ------------------------------------------------------- > owell … i got badly screwed as well … > > anybody knows whether the formula for 9th question > (LGD) in garp’s 2009 full frm 1 exam is present > in Jorion or Schweser? I thought it was a easy > question to be solved with following formula: > PD=credit spread/LGD emphase Wrote: ------------------------------------------------------- > smartrisk, I did the same thing as you… I > answered C and its the wrong answer lol… it’s > 18% something and not 20%… I don’t understand > the 9th GARP 2009 question either! It should be an > easy straightforward… I don’t understand their > answer. @smartrisk and @emphase I had the same issue… I picked 20%… (but wasn’t it a bit weird that the answer choice was something like 20.01%) Anyways, I really don’t know where that formula in the answer key comes from: 1 - { [(1+Rf) - (1+r)(1-PD)] / (1+r)(PD) } I might have overlooked it … it might be a derivation to the PD = CS / LGD formula, or the other PD = 1 - (1+Rf)/(1+y) formula. y = corp debt yield.
about the full 1 question 22 is the same as 23 in level 1 exam so the numbers needed are given on page 11.
time for final min cramming ,has anyone done schweser final review guidebook ?
Semmens – nobody sent me … i think u r the only one checking the forum now LOL ~~!
btw i m in Asia, so the exam starts in less than 12 hrs hehe
@monki I dont have the schweser soft copy if you wish i can send you the excellent revision guide prepared by Sherbeer - exam starts in exactly 12 hrs for me still final review and key formulas to go
I just got your slide - THanks a lot !!! wow i wish i got this a week earlier… I just store it in my iphone now… maybe i will take a look during lunch time (in between exam) tmr… i got to go to bed soon … thanks again!
Wow, 12 hours away? Crazy. I’ve got a little more than 24 hours remaining.
I performed ok in 2009 practice exam - 76% overall and 82% for 3 sets of 2008 practice exam. Let me tell you. The actual exam is another thing… I am badly screwed… I can say this year should be the toughest one. This message is left by a guy from far east Asia…
@diuleelomei you rightly said it , the exam is another thing , even I had a 70% score in practice exams , but I will be exited if I get 60% + in the exam . the most hit were the non computational questions which were really …really wicked