FinAcademy · Risk Track I · free with an account
Twelve modules that map the Quantitative Analysis book and the quantitative chapters of Valuation and Risk Models and Financial Markets and Products onto the FinAcademy lesson format: one idea per lesson, a figure you drive yourself, a worked example, and exam-style exercises. Every number in it, in a figure, a worked example or an exercise, was computed and checked before it was written. Free with a FinAcademy account.
Every lesson, interactive figure, exercise, cheat sheet and timed test in Risk Track I is free. Lessons open after a one-minute sign-up: one email field, no password, we send you a sign-in link. Your progress and test results then follow you to any device.
Events, Bayes, random variables, moments.
Discrete and continuous families, joint distributions, correlation.
Estimators, LLN, CLT, hypothesis tests, p-values.
OLS, inference, diagnostics, CAPM and APT as regressions.
Stationarity, ARMA, ACF/PACF, unit roots.
Returns, EWMA, GARCH, fat tails, rank correlation.
Monte Carlo, bootstrap, the whole ML syllabus.
VaR, ES, coherence, historical simulation, delta-normal.
Transition matrices, hazard rates, EL/UL, Vasicek.
Conventions, carry, DV01, key rates, MBS, bond futures.
Futures, hedging, carry, option bounds, trees, BSM, Greeks.
Op-risk capital, frequency and severity, insurance ratios, netting.
Every module has a timed test drawn from its own exercises, and the track has a final mock: 50 questions in 120 minutes, the pace of FRM Part I. 304 questions in the pool.
Every lesson follows the same shape: an outline, the definitions and formulas with their symbols spelled out, two or three interactive figures you drive yourself, a worked example, and exercises marked against a stored answer. Nothing is written from memory. Each module has a script that computes every number in it with numpy and scipy and prints them before they are written into a lesson, so a figure, a worked example and an exercise cannot disagree. Every lesson also has a one-page cheat sheet that prints on a single sheet of A4.
Risk Track I sits on top of the free FinAcademy course: where a topic is already taught there (discounting, duration, swaps, Black-Scholes), the module links to it instead of repeating it. FRM® is a registered trademark of GARP, which does not endorse and is not affiliated with FinAcademy; the module codes (QTA, VRM, FMP, FRM) only point to the matching readings.