2024 FRM Exam Part I Financial Markets and Products PDF
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Course
2024 FRM
Institution
2024 FRM
The "2024 FRM Exam Part I – Financial Markets and Products PDF" by GARP (Global Association of Risk Professionals) is the official study resource for aspiring Financial Risk Managers. This comprehensive guide focuses on financial markets, derivatives, and key concepts in risk management. It is ta...
Summary 11
Chapter 1 Banks
Questions 12
Short Concept Questions 12
1.1 The Risks in Banking 2 Practice Questions 12
Market Risks 2 Answers 13
Credit Risks 2 Short Concept Questions 13
Operational Risks 3 Solved Problems 13
1.2 Bank Regulation 3
Capital 4
T he Basel Committee 4 Chapter 2 Insurance Companies
Standardized Models versus
Internal Models 4
and Pension Plans 15
Trading Book versus Banking
Book 5
Liquidity Ratios 5
2.1 Mortality Tables 16
1.3 Deposit Insurance 2.2 Life Insurance 16
5
Whole Life Insurance 16
1.4 Investment Banking 6 Term Life Insurance 19
IPOs 7 Endowment Life Insurance 19
Dutch Auctions 7 Group Life Insurance 19
Advisory Services 8 Annuity Contracts 20
Trading 9 Longevity and Mortality Risk 20
1.5 Conflicts of Interest 9 Investments 21
1.6 The Originate to Distribute 2.3 Pension Plans 21
Model 10
iii
, 2.4 Property and Casualty Global Macro 39
Insurance 22 Managed Futures 39
CAT Bonds 22 3.6 Research on Returns 39
Loss Ratios 23 Mutual Fund Research 39
2.5 Health Insurance 23 Hedge Fund Research 40
2.6 Moral Hazard and Adverse Summary 40
Selection 24 Questions 42
Moral Hazard 24
Short Concept Questions 42
Adverse Selection 24
Practice Questions 42
2.7 Regulation 24 Answers 43
Summary 25 Short Concept Questions 43
Questions 26 Solved Problems 43
Short Concept Questions 26
Practice Questions 27
Chapter 4 Introduction
Answers 28
to Derivatives 45
Short Concept Questions 28
Solved Problems 28
4.1 The Markets 47
Exchange-Traded Markets 47
Chapter 3 Fund Management 31 Over-the-Counter Markets 47
Market Size 48
4.2 Forward Contracts 48
3.1 Mutual Funds 32
Open-End Funds 32 4.3 Futures Contracts 50
Closed-End Funds 33 4.4 Options 50
3.2 Exchange-Traded Funds 34 4.5 Market Participants 52
3.3 Undesirable Trading Behavior 34 Hedgers 52
Speculators 52
3.4 Hedge Funds 35
Arbitrageurs 53
Prime Brokers 37
4.6 Derivatives Risks 53
3.5 Types of Hedge Funds 38
Long-Short Equity 38 Summary 53
Dedicated Short 38 Questions 54
Distressed Debt 38 Short Concept Questions 54
Merger Arbitrage 38 Practice Questions 54
Convertible Arbitrage 39
Answers 55
Fixed-Income Arbitrage 39
Short Concept Questions 55
Emerging Markets 39
Solved Problems 55
iv ■ Contents
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