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Riskblock blockchain framework
Publish: 2021-04-21 07:55:39
1.
Hgic is a national mutual insurance company
nationwide, an American company, was founded in 1945 and its chief executive officer is Thomas J. Moran. The city address of the company's headquarters is Columbus, which mainly provides financial and insurance services
Fortune 500 ranked 68th in 2017. On June 7, 2017, the 2017 Fortune 500 list was released, ranking 68th among all American mutual insurance companies. The operating income is US $40074.1 million
extended information:
American Mutual Insurance Company is one of the largest financial service companies in the United States, headquartered in Ohio, providing financial and insurance services, such as asset management, savings, life insurance, etc
national insurance has announced that it will use the riskblock blockchain framework to provide its customers with more secure and convenient insurance certificates
2. Hello, I'm glad to answer your question
in 2020, frm Level 2 will increase from the original 5 subjects to 6 subjects, with newly added liquidity risk subjects. The weights of market risk, credit risk and operation risk are respectively 20%, liquidity risk and portfolio risk are respectively 15%, and financial case weight is respectively 10%:
subject 1: market risk
market risk measurement and management
two chapters of market risk are newly added, One chapter is deleted as a whole, and it is estimated that the overall change will be about 30%. The details are as follows:
Chapter 7. Extreme value
Chapter 18. Basic review of the trading book
Chapter 3. Statistical correlation models
change details analysis:
Spearman and Kendall are deleted from the new examination outline τ Correlation coefficient and its application, this part of the content used to be the focus of the examination, now the association is determined to give up this part of knowledge, which can greatly rece the difficulty coefficient of market risk
however, the association has also transferred the extreme value theory in operational risk and the relevant content of trading account to market risk for investigation. Although the content has been switched between learning subjects, the content has not changed. Although the weight of market risk has been reced, its importance has not decreased. Market risk has both the concept of qualitative understanding and the topic of quantitative calculation, It is difficult
for the study of this course, you should listen carefully in class and understand it well. It's not difficult to prepare for the exam<
subject 2: credit risk
credit risk measurement and management
2 items of examination syllabus were added and 11 items of examination syllabus were deleted, and 2 chapters were deleted as a whole. It is estimated that the overall change is about 10%. Details are as follows:
Chapter 2. Classifications and key concepts of credit risk [Cr – 3]
Chapter 12. Default probabilities, credit spreads, Chapter 5. Capital structure in banks (pages 170-186 only) [CR-3]
Chapter 12. The credit transfer markets and their implications
understanding the security of prime mortgage credit
details of changes:
and market risk ratio In recent years, the change of credit risk is relatively small. The new examination syllabus reces the investigation of securitization procts such as the subprime mortgage crisis and subprime mortgage-backed securities, reces the difficulty of the examination, and also reces the amount of learning tasks of candidates
but as for capital structure in banks, this chapter goes from the first level valuation and risk model to the second level credit risk. This chapter is closely connected with the credit risk of banks. I agree with this arrangement
we have also carefully compared the test syllabus, and the core test points are 100% coincident. Therefore, if we passed the first level examination in November this year, we will see you again in May next year
in addition, the classification of credit risk, default probability, credit spread and financing cost have been deleted in the new examination syllabus, and the roles of various credit analysts are no longer investigated. These qualitative and incomprehensible contents are no longer available. Do you think the association's approach is particularly wise, just like me<
subject 3: operational risk
operational risk and resilience
2 items of examination syllabus were added, 11 items of examination syllabus were deleted, and 6 chapters were added as a whole. It is estimated that the overall change is about 70%. The details are as follows:
six chapters are added as a whole
banking contract and culture: a permanent mindset change
risk culture
cyber resilience: range of practices
building the UK financial sector's operational resilience
the cyber – resilience organization
structuring for operational resilience
six chapters are deleted as a whole
/>Parametric approaches (III): extreme value
external loss data
the failure mechanics of dealer banks
liquidity and coverage
Review agreements and financing
basic review of the trading book
three chapters with great changes
model risk management
enterprise risk management
risk agree frameworks And it infrastructure
change details analysis:
the change of operational risk is quite drastic, except that the content of extreme value theory, leverage, repurchase and trading account is moved to other subjects, other items should be deleted, replaced and added. The original management of operational risk, economic capital, model risk, are still retained
as for ERM, risk preference framework, outsourcing risk, anti money laundering and model risk, there are some subtle changes in the way of investigation, but it does not affect our normal learning. The core idea is the key
it has to be said that the association's handling this time is quite straightforward. In spite of this, the weight of others is still quite large, no matter how much it becomes beyond recognition, we still need to learn a little bit, long way to prepare for the exam, we have been, everyone come on<
subject 4: liquidity risk
liquidity and risk measurement and management
this is a new chapter in 2020, accounting for 15%. The general framework is as follows:
liquidity risk principles and metrics
liquidity portfolio management
cash flow modeling, Liquidity stress testing and reporting
continuity financing plan
funding models
funds transfer pricing
cross currency financing
balance sheet management
analysis of change details:
in addition to incorporating the knowledge of leverage and repo and the failure of dealer bank from operational risk, Besides the knowledge of illiquid assets, other contents are new
it mainly describes the liquidity risk of financial institutions. In addition to the three common risks of market, credit and operation, financial institutions are also faced with liquidity risk. In 2020, the Association joined the subject of liquidity risk, which fully reflects the importance of liquidity risk in the daily risk management process of financial institutions
although it's new content, we don't have to be afraid to treat it seriously. We can master it as well as other subjects
subject 5: portfolio risk
risk management and investment management. It is estimated that the overall change is about 5%. The details are as follows:
one chapter deleted as a whole
Chapter 13. Illiquid assets
analysis of change details:
seeing the above figures, do you feel very happy? Portfolio risk should be the least changed of all the secondary subjects. I'll point out that the GARP association has put all the kindness into this course, Although the description of one test outline has changed, the actual test point remains unchanged
the deleted chapter has also been moved from this course to the newly added liquidity risk course. This course has always been the epitome of the calculation in CET-2, and there are many related formulas, but it is also a good subject to get points, so we should pay attention to it<
subject 6: financial cases
current issues in financial market
cases are updated every year, with about 8 questions in each test. The difficulty of the test is relatively large, but the test will not be too deep. Therefore, cases are relatively easy to score
in 2020, there will be a total of 10 financial cases, the most in the past five years. In addition to retaining the contents of artificial intelligence (AL), machine learning and big data, the other seven cases are all new, covering the topics of
blockchain
fin tech revolution
climate change and financial risk
reference rates
almost all of the cases are related to blockchain, fintech and climate change
these are just the cutting-edge topics in the current financial market. We have to say that the GARP Association really keeps pace with the times. It not only has super high requirements for itself, but also cares for frm students. I hope we can always get in touch with the latest knowledge and praise the great associations
above, the changes of six subjects in frm band-2 will be analyzed
thank you!
in 2020, frm Level 2 will increase from the original 5 subjects to 6 subjects, with newly added liquidity risk subjects. The weights of market risk, credit risk and operation risk are respectively 20%, liquidity risk and portfolio risk are respectively 15%, and financial case weight is respectively 10%:
subject 1: market risk
market risk measurement and management
two chapters of market risk are newly added, One chapter is deleted as a whole, and it is estimated that the overall change will be about 30%. The details are as follows:
Chapter 7. Extreme value
Chapter 18. Basic review of the trading book
Chapter 3. Statistical correlation models
change details analysis:
Spearman and Kendall are deleted from the new examination outline τ Correlation coefficient and its application, this part of the content used to be the focus of the examination, now the association is determined to give up this part of knowledge, which can greatly rece the difficulty coefficient of market risk
however, the association has also transferred the extreme value theory in operational risk and the relevant content of trading account to market risk for investigation. Although the content has been switched between learning subjects, the content has not changed. Although the weight of market risk has been reced, its importance has not decreased. Market risk has both the concept of qualitative understanding and the topic of quantitative calculation, It is difficult
for the study of this course, you should listen carefully in class and understand it well. It's not difficult to prepare for the exam<
subject 2: credit risk
credit risk measurement and management
2 items of examination syllabus were added and 11 items of examination syllabus were deleted, and 2 chapters were deleted as a whole. It is estimated that the overall change is about 10%. Details are as follows:
Chapter 2. Classifications and key concepts of credit risk [Cr – 3]
Chapter 12. Default probabilities, credit spreads, Chapter 5. Capital structure in banks (pages 170-186 only) [CR-3]
Chapter 12. The credit transfer markets and their implications
understanding the security of prime mortgage credit
details of changes:
and market risk ratio In recent years, the change of credit risk is relatively small. The new examination syllabus reces the investigation of securitization procts such as the subprime mortgage crisis and subprime mortgage-backed securities, reces the difficulty of the examination, and also reces the amount of learning tasks of candidates
but as for capital structure in banks, this chapter goes from the first level valuation and risk model to the second level credit risk. This chapter is closely connected with the credit risk of banks. I agree with this arrangement
we have also carefully compared the test syllabus, and the core test points are 100% coincident. Therefore, if we passed the first level examination in November this year, we will see you again in May next year
in addition, the classification of credit risk, default probability, credit spread and financing cost have been deleted in the new examination syllabus, and the roles of various credit analysts are no longer investigated. These qualitative and incomprehensible contents are no longer available. Do you think the association's approach is particularly wise, just like me<
subject 3: operational risk
operational risk and resilience
2 items of examination syllabus were added, 11 items of examination syllabus were deleted, and 6 chapters were added as a whole. It is estimated that the overall change is about 70%. The details are as follows:
six chapters are added as a whole
banking contract and culture: a permanent mindset change
risk culture
cyber resilience: range of practices
building the UK financial sector's operational resilience
the cyber – resilience organization
structuring for operational resilience
six chapters are deleted as a whole
/>Parametric approaches (III): extreme value
external loss data
the failure mechanics of dealer banks
liquidity and coverage
Review agreements and financing
basic review of the trading book
three chapters with great changes
model risk management
enterprise risk management
risk agree frameworks And it infrastructure
change details analysis:
the change of operational risk is quite drastic, except that the content of extreme value theory, leverage, repurchase and trading account is moved to other subjects, other items should be deleted, replaced and added. The original management of operational risk, economic capital, model risk, are still retained
as for ERM, risk preference framework, outsourcing risk, anti money laundering and model risk, there are some subtle changes in the way of investigation, but it does not affect our normal learning. The core idea is the key
it has to be said that the association's handling this time is quite straightforward. In spite of this, the weight of others is still quite large, no matter how much it becomes beyond recognition, we still need to learn a little bit, long way to prepare for the exam, we have been, everyone come on<
subject 4: liquidity risk
liquidity and risk measurement and management
this is a new chapter in 2020, accounting for 15%. The general framework is as follows:
liquidity risk principles and metrics
liquidity portfolio management
cash flow modeling, Liquidity stress testing and reporting
continuity financing plan
funding models
funds transfer pricing
cross currency financing
balance sheet management
analysis of change details:
in addition to incorporating the knowledge of leverage and repo and the failure of dealer bank from operational risk, Besides the knowledge of illiquid assets, other contents are new
it mainly describes the liquidity risk of financial institutions. In addition to the three common risks of market, credit and operation, financial institutions are also faced with liquidity risk. In 2020, the Association joined the subject of liquidity risk, which fully reflects the importance of liquidity risk in the daily risk management process of financial institutions
although it's new content, we don't have to be afraid to treat it seriously. We can master it as well as other subjects
subject 5: portfolio risk
risk management and investment management. It is estimated that the overall change is about 5%. The details are as follows:
one chapter deleted as a whole
Chapter 13. Illiquid assets
analysis of change details:
seeing the above figures, do you feel very happy? Portfolio risk should be the least changed of all the secondary subjects. I'll point out that the GARP association has put all the kindness into this course, Although the description of one test outline has changed, the actual test point remains unchanged
the deleted chapter has also been moved from this course to the newly added liquidity risk course. This course has always been the epitome of the calculation in CET-2, and there are many related formulas, but it is also a good subject to get points, so we should pay attention to it<
subject 6: financial cases
current issues in financial market
cases are updated every year, with about 8 questions in each test. The difficulty of the test is relatively large, but the test will not be too deep. Therefore, cases are relatively easy to score
in 2020, there will be a total of 10 financial cases, the most in the past five years. In addition to retaining the contents of artificial intelligence (AL), machine learning and big data, the other seven cases are all new, covering the topics of
blockchain
fin tech revolution
climate change and financial risk
reference rates
almost all of the cases are related to blockchain, fintech and climate change
these are just the cutting-edge topics in the current financial market. We have to say that the GARP Association really keeps pace with the times. It not only has super high requirements for itself, but also cares for frm students. I hope we can always get in touch with the latest knowledge and praise the great associations
above, the changes of six subjects in frm band-2 will be analyzed
thank you!
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