FRM® Exam Part II Prep Course with Christian Cooper - Review

Since its introduction in 1997, the FRM® designation has become the defacto standard for risk managers globally. There are now over 24,000 FRMs globally. As of late 2009, the Global Association of Risk Professionals (GARP®), which administers the exam, transitioned the program to a multi-year process from a single exam. The topics covered in the FRM® Part II exam range from Market Risk Measurement & Management, Credit Risk Measurement & Management, Operational & Integrated Risk Management, Risk Management & Investment Management and Current Issues in Financial Markets. The FRM® is a very demanding exam drawing questions from a wide array of topics. NYIF has developed this course to supplement your studies and help prepare you for the Part II exam.

This intensive 4-week, 8-evening course will cover the key topics and focus on the areas you need to know in order to pass the exam. You will also receive a FREE comprehensive handbook written by our expert course instructor.

By making NYIF your partner in preparing for the exam, you are taking an important step in achieving this valued designation.

No sessions currently available. Contact client services to get the next available date.
Any FRM® exam candidate who is looking for a comprehensive supplement to their preparation for the 2010 FRM® Part II Exam. From individual job titles (i.e. Accountant, Analyst, Chief Executive Officer, Chief Financial Officer, Chief Investment Officer, Credit Analyst, Derivatives Trader, Compliance, Risk Management, Portfolio, Research, Trader, etc) to industry sector (i.e. Academic, Asset Management, Brokerage, Commercial Bank, Consultant, Corporation, Government Agency, Insurance, Investment Bank, Law firm, Media, Professional Association, Regulatory Body, Retail Bank, Securities firm, Software vendor, Technology, etc), the work experience of certified FRM-holders is very diverse. To ensure your current and/ or past work experience meets this qualification, GARP® provides a sample list of qualifying job titles in various industries, including financial risk management. See www.garp.com/frmexam in LEARN section for the full list.
1.) GARP does not endorse, promote, review or warrant the accuracy of the products or services offered by the New York Institute of Finance of GARP Exam related information, nor does it endorse any pass rates claimed by the provider. Further, GARP is not responsible for any fees or costs paid by the user to the New York Institute of Finance, nor is GARP responsible for any fees or costs of any person or entity providing any services to the New York Institute of Finance. ERP™, FRM®, GARP® and Global Association of Risk Professionals™ are trademarks owned by the Global Association of Risk Professionals, Inc. 2.) To take the FRM® Exam, you must be enrolled with GARP®, the global association that administers the Financial Risk Manager® exam program worldwide. You must also have active Fellow Membership of GARP® and a minimum of two years experience in the area of financial risk management or another related field including, but not limited to, trading, portfolio management, academic or industry research, economics, auditing, risk consulting, and/or risk technology. For more information about the exam or how to enroll, call 1-201-719-7210 or visit wwww.garp.com/frmexam. 3.) NYIF's FRM Prep Courses reference the FRM Core Readings Course Pack. Candidates are responsible for purchasing these required readings as they will NOT be supplied by NYIF. Please visit GARP's website (http://www.garp.com/frmexam/prepare.aspx) for details and purchase information.
FRM® candidates must purchase either the Texas Instruments BA II Plus (including BA II Plus Professional) or Hewlett Packard 12C (including the HP 12C Platinum) or 10 B II or 20 B calculator for use in class. Only these business calculators are authorized for use on the FRM exam in 2010. There will be no exceptions to this policy. Should you use a non-authorized calculator at any time during the exam, your answer sheets will not be graded.
Whenever possible, New York Institute of Finance avoids scheduling courses on holidays and religious observances. However, due to the demanding nature of FRM® exam preparation, review sessions will be held as scheduled. We regret that sessions cannot be rescheduled to accommodate individual delegates.
Session 1 - Market Risk Measurement and Management (August 22, 2011)
Advanced Option Analysis

    Volatility: Smile and Skew

    • Introduction to stochastic volatility
    • Exotic options

    Snowballs

    • Path dependent options

    Advanced Fixed Income Risk Measures

      DV01 for Parallel and Non-Parallel Yield Curve Shifts

      • Key rate exposures
      • Reading the tea leaves: yield curve science

Session 2 - Market Risk Measurement and Management (August 25, 2011)
Beyond Duration: MBS Risk Factors

    MBS Market Overview

    • Mortgage-backed security valuations
    • Underwriting and prepayment

    Advanced Risk Measures

      Expected Shortfall Risks

      • Extreme value theory
      • Tales of tails and copulas

Session 3 - Credit Risk (August 29, 2011)
The 300 lb. Gorilla: Sub-prime Securitization
  • Credit risk and credit derivatives
  • VaR for highly illiquid assets
  • Credit linked notes

Structuring Process

  • Securitization
  • Cash & synthetic CDOs

Managing Credit Risks

    Evaluation of Counterparty Risk

    • Risk mitigation

    Collateral Requirements

      Netting

      • Rating triggers

Session 4 - Credit Risk (September 1, 2011)
Comprehensive Credit Derivatives

    Credit Linked Notes

    • Credit default swaps
    • Applying traditional fixed income risk measures to credit

    Credit Specific Risks

      Probability of Defaults

      • Loss given default
      • Recover rates

      Contingent Claims

Session 5 - Operational Risk Management (September 8, 2011)
Allocation of Capital and Returns

    Capital Adjusted Returns

    • Firm-wide allocation of capital

    Correlations Across Asset Classes

Session 6 - Operational Risk Management (September 19, 2011)
Enterprise-Level Risk Management

    Basel II

      Minimum Capital Requirements

      • Concentration risks
      • Liquidity risk
      • Stress testing under Basel II

      Model Risk Management and Case Studies

Session 7 - Risk Management and Investment Management (September 22, 2011)
General Portfolio Construction

    Performance Analysis of Portfolios

    • Style drift
    • Analytic methods of portfolio risks
    • VaR and risk budgeting at the portfolio level
    • Risk monitoring at portfolio level
    • Risk decomposition with a portfolio

    Risk Budgeting / Risk Limits

Session 8 - Risk Management and Investment Management (September 26, 2011)
Asset Illiquidity, Valuation and Risk Measurement
  • Pension fund risk management

Fiduciary Duty

    Strategy Specific Risks

      Arbitrage

      • Equity long / short / neutral

      Distressed Debt

      • Emerging markets

Clients who register for this course will receive a complimentary 4-month subscription to FT.com. The Financial Times is the world's most respected financial newspaper, providing a broad assessment on finance, business and the industrial sector. The move to the electronic version follows an ongoing review of our environmental responsibilities as a global business and as part of the Pearson group. FT.com also has features that are not available in hard copy, such as: Special Reports, Alphaville, editor blogs, education sections and much more! Subscriptions will start within 6-8 weeks of the start of class and are limited to one subscription per client. (Please note: as of May 1, 2011, the electronic subscription replaces the hard-copy 3-month Financial Times subscription.)

Lunch is included for all students taking day classes.