FRM公式表，在FRM考试中重要吗？

FRM公式表在FRM考试中重要吗？这是很多在备考初期咨询多的问题，关于这个答案，小编说，关于FRM公式是很重要的，考生不仅要记住还需要熟练运用！

Central Counterparties (CCPs)：>>>点击领取2021年FRM备考资料大礼包（戳我免·费领取）

When trades are centrally cleared, a CCP becomesthe seller to a buyer and the buyer to a seller.Advantages of CCPs: loss mutualization, legal and operational efficiency, liquidity, standardized documentation, and increased transparency. Disadvantages of CCPs: moral hazard, adverse selection, procyclicality, and credit risk. Risks faced by CCPs: default risk, model risk, liquidity risk, operational risk, legal risk, and investment risk. Default of a clearing member and its flow through effects is the most significant risk for a CCP.

Hedge Fund Strategies：

Long/short equity：go long and short similar securities to exploit mispricings—decreases market

risk and generates alpha.

Dedicated short：find company that is overvalued and then short sell the stock.

Distressed debt：purchase bonds of distressed company with the potential to turn things around.

Merger arbitrage: involves purchasing shares in a target firm and selling short shares in the purchasing firm.

Convertible arbitrage: investor purchases a convertible bond and sells short the underlying stock.

Fixed-income arbitrage: long/short strategy that looks for pricing inefficiencies between various fixed-income securities.

Emerging marker：invests in developing countries’ securities and/or sovereign debt.

Global macro: makes leveraged bets on anticipated price movements in broad equity and fixed-income markets, interest rates, foreign exchange, and commodities.

Managed futures: focuses on investments in commodity futures. Employs a high degree of leverage. 【资料下载】点击下载融跃教育FRM考试公式表

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