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by Kalamalama staff

Meissner also prepares HPU students for the five-hour FRM exam in his Corporate Risk Management class (Fin 3801/ Fin 6801). Several students from this class will take the exam this November, including: Li-Hu Chiu, Ji Dai, Aaron Loy, Radoje Maric, and Weiwei Yao.

The FRM exam consists of a quantitative section, where basic mathematical finance is tested, including time value of money and bond theory, and duration and convexity. Parts 2, 3, and 4 of the exam deal with the three types of risk currently known:

a) market risk (interest rate risk, currency risk, commodity risk, stock price risk);
b) credit risk (default risk, migration risk); and
c) operational risk (disaster risk, technology risk, knowledge risk, accounting risk, political risk, criminal risk, and legal risk).

A fifth section of the FRM exam covers investment risk management, protecting portfolios against downside risk with puts, swaps, and futures contracts.

The exam is held once a year and will probably be hosted again by HPU in November 2006.
“ Generally, risk management is a fast-growing business area,” said Meissner. “Many financial and non-financial institutions conduct active risk management with a Chief Risk Officer (CRO) and an increasing staff of risk managers. Several HPU students (for example Nicholas Lent at UBS in Hong Kong and Albin Alex at Canter in New York) are already working as risk managers.”

For more information on HPU’s Risk Management class and career opportunities in Risk Management, e-mail



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