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Risk classes(风险等级)在FRM一级考试中主要包含哪些?

备考2021年FRM一级考试,考生需要对Risk classes(风险等级)熟悉掌握。Risk classes(风险等级)在FRM一级考试中主要包含哪些?下文是详细介绍!>>>点击领取2021年FRM备考资料大礼包(戳我免·费领取)

2021FRM备考资料大礼包

a) Market risk(市场风险)

Interest rate risk :If market interest rates rise, the value of the bond will decrease

Equity price risk :(1) general market risk, which is the sensitivity of the price of a stock to changes in broad market indices,

(2) specific risk, which is the sensitivity of the price of a stock due to unique fectors of the entity

Foreign exchange risk:because of unhedged or not fully hedged foreign currency positions

Commodity price risk:Price volatility of commodities.

The resulting lack of trading liquidity tends to increase the amount of price volatility compared to financial securities

Absolute Risk:Measured in terms of shortfall relative to the initial value of the investment and focuses on the volatility of total returns.

Relative risk:Measured in terms of shortfall relative to a benchmark (e.g. market index).

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Directional risks:Involve exposures to the direction of movements in major financial Market variables. These directional exposures are measured by first order or linear approximations

Non-Directional risks:Are risks that have non-linear exposures or neutral exposures to financial variables

Basis risk:The risk that the price of a hedging instrument and the price of the asset being hedged are nor prefectly correlated

Volatility risk:risk of loss from changes in actual or implied volatility of market prices