**Focus on top questions:**

Upstep u d p etc prob [1+rf-d] / [u-d] and exponential formula - binomial tree e to power 2 sigma derivation

Persistence factor

H model: D0 is D: [D(1+gl) + DH(gs-gl)]/[r-gl]

Pure active / portfolio systematic risk... analyst R square .. stropness of alpha

Justified P/S = Net profit margin * Justified traling p/e = E/S into 1-b into 1+g whole divided by r- g

portfolio is entirely new- Portfolio with similar securities: 1/n*sigma-square + (n-1)/n Cov

Private Euity numerical on Drawn, return big table etc

Important Points

real estate table numerical with properly values

Portfolio has many new things

irr using calculator - check all tests in calculator

other topics using calculator like capital budgeting

ratio current temporal rates

corp finance - many numericals -

secret sauce video on things that are missed

theory last chapter of mbs and trenching data

contraction risk in MBS

real estate table numerical with properly values

Portfolio has many new things

irr using calculator - check all tests in calculator

other topics using calculator like capital budgeting

ratio current temporal rates

corp finance - many numericals -

secret sauce video on things that are missed

theory last chapter of mbs and trenching data

contraction risk in MBS

List of Formulas that might give trouble:

Difference makers: FSA currency traslation, FSA accruals...

Quant Difference makers: regression, time series, arch, inetere rate questioins, binomial trees, oas, cpr etc.

Equity: same .. easy...

**Ethics:**

Research reports and soft dollars... what is allowed while making research reports....consensus

Quant: log taking with ARCH with multi series and combining things contegration of quant

Residual income formula long one: B + [(Roe-r)*B]/[r-g]

Economics revision : interest formula don't work, complex version of swaps due twister spots and semi annual payments

**Derivatives:**interest rate numerical with swap and payment and selection of interest rates is tricky, also the pv factor formula didn't work. in all interest rate derivatives is an area that you should explore.

fixed income seems to be in control

interest rate problems fir tree didn't work, make trees on MATLAB for trees

regression with high level of theory - this tricky

convexity formulas

FRA Agreement

FI CPR the 30 month formula where 1- CPR = (1- SMM)^12 ... CPR= months * .2%* Times PSA

FSA formulas from question

Currency swap

Interest rate swap: [1-Zn]/[z1 + z2...zn]

transition current

soft dollar research objectivity new prudent rule, old standard

Fama: Market risk + small cal risk + value risk

Eqity: Rolls model confident risk , build up, pastur liquid factor,

DDM P/E multiple: 1-b divided by r- g

P/B = ROE-g divided by r-g

premium control not control - private company

interest rate swap / currency swap / fra

credit derivatives

Whats solution for very long divident questions

Reits funds from operation

MM numerical new formula n terms

Information ratio = active risk / active return

Quant, is model good Ftest, hetroskedicity present: Pagan, removal white... Serial correlation present: Derban whatson (2(1-r)) smaller postiive larger negative in between inconclusive removal: Hanse...

Testing of the above 2 tests is imp

Adj R-square 1 - [n-1 / n-k-1]* [1-R-square]

b0/[1-b1]

HHI Summation of MS*100, when is it concentrated? 1000-1800

Favorable income per share = (Coupon - Conversion Ratio * DPS )/conversion ratio

most trouble maker is currency translation in accounting

linking the pension translation from 10k into reality to make it easy

1) employee benefits - Questions from Main curriculum

2) quants - economics paper - get this done for conference - liniked with pp

Regression and quant and D test - issues with regression in excel file

3) Lessons we learn

4) Evaluating Financial reporting Quality

5) Integration of FSA

6) Portfolio - done except

**Reviews:**

Exam still has 50% theory - and numerical are the easy ones

AI: Real estate numerical and quant involved.

Private equity valuations

Biggest drag all down is FRA

turning exam real with real quant everywhere.

--Thanks

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