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ERM Exam Old Advanced Finance and Enterprise Risk Management (ERM) Forum 

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#31




Quote:

#32




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There are 60 core points + 20 extension points = 80 total points, so if you split up the 4 hours based on points, you get 3 hour core + 1 hour extension. But that's just a guideline and not a strict rule. You can do 2h55m core + 1h5m extension, and that's perfectly acceptable, nobody is watching how you split your time and you get 4 hours total. 
#33




Fortunately you only have to answer exam questions once, so don't follow our example above.

#34




Quote:
I have heard the extension questions are beastly for other tracks, especially QFI, so your mileage will vary.
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ASA, CERA 
#36




Please take a minute to visit the PAK Study Manual website to view our free strategy and mathematical review videos to help get you started. Many students find that some of the implicitly assumed knowledge required for this exam (BlackScholes, derivatives, hypothesis testing, etc.) is a bit fuzzy in their minds. They give you some quick tips, as well as refresh a little bit of the math you might need as you're getting ready to take a Finance exam.
Strategy Review Math Review #1 Math Review #2 Math Review #3
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Paul  CFE/SDM/ERM Online Seminar Instructor www.pakstudymanual.com PAK Study Manual Packages/Seminars for CFE/SDM/ERM Fall 2019 SDM: Sample CFE: Sample ERM: Sample 
#37




I ve a question on ValueatRisk Ch.11 (Inv. extension).
For the Decomposition of the Forward Contract throught partial derivative, i don't understand why there is a '' and not a '+' with the term with dP*/P*. Do you have some info about the method to have this solution?
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ASA 2016 ERM 
#38




This should be flipped signs. Looks like a typo  the decomposition should be:
df = (Se^rt)dS/S + (Se^rt)dP*/P*  (Ke^rt)dP/P Good eye!
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Paul  CFE/SDM/ERM Online Seminar Instructor www.pakstudymanual.com PAK Study Manual Packages/Seminars for CFE/SDM/ERM Fall 2019 SDM: Sample CFE: Sample ERM: Sample 
#40




Hi, I have another question about "Beyond Equilibrium, the BlackLitterman Approach" (inv. ext) and especially table 7.7. In this table, there a column called "Percent Deviation from Market Cap", can someone explain me what it means?
I thought it was the deviation from the market cap for the portfolio...but it doesn't match. Maybe it is just the weight of the 2 view portfolios...and in order to have a sum of weight of 100%, we need to calculate the impact on the other assets (which are not in the table).
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ASA 2016 ERM 
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