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）

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).

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