Exam 9 Minimal Question Bank

Since we won’t know whether we passed for a couple months and the study window will be narrower for Spring, I want to keep fresh on computation questions. I thought it would be useful to create a bank of questions that cover all the regular expected topics with only one good question for each topic. Then you can do a couple problems at random when you feel like it and make sure you haven’t forgotten the Myers-Read formula or Panning’s franchise value.

This is a somewhat similar idea to Rising Fellow’s Cookbook, except: based on actual exam questions, when possible, Excel-based, and with a built-in randomizer/re-quizzer. Like the Cookbook, I am not focusing on short response that are better handled in regular flashcards (except where they happen to be part of the exam questions we pick).

If anyone is up for helping, I’d love input/help in this thread. I will collect everything in the next post, and then publish it to Excel.


2014Q10 — Franchise value, Duration, target return|
2019Q09 — Total Economic Value|
Q Needed - Premium to get target return|

2017Q17 Capital Allocation by Layer
2018Q16 Premium net of expenses

2017Q16 — Discrete EPD Ratio
2019Q11 — Multi-Period Time Horizon
Q Needed - EPD Ratio - normal and lognormal
2018Q13 — Diversified RBC

Coval, Jurek & Stafford
2019Q10 — CDO2 default probability, default premium

Cummins CAT
2017Q15 — ROL/LOL Cat vs Reinsurance Comparison

Cummins Capital
Q Needed - Cost of Equity Capital
Q Needed - CAPM Required Rate of Return
2010Q8 — Merton-Perold and Myers-Read allocations

2018Q14 — Risk-adjusted Return
2019Q12 — Risk margin for target RAROC, co-CTE allocation

Feldblum Financial


Kreps Ratios



Robbin UW

Robbin IRR

BKM questions will probably often cover multiple chapters, so one question will be enough for several topics.











BKM23.3 and 4

I had a file that did some of this. I might have dumped it at some point, though. I’ll try to find it, but I know even if I can find it it’s likely not complete - but, it could serve as a starting point and then a collective effort could help finish it off.

Am I the only one interested in this? If so, I will probably stop after a couple more papers and publish the file. Angelo from TIA was gracious enough to let me use his Excel version of exam questions (not answers) so I don’t have to reinvent the wheel.

Q: how much of it do you have? I’ve found 2 copies of something I apparently had going, but never merged them together and I’m fairly certain neither one is complete. It looks like I was trying to do past exam questions in the “set it up, then randomize the inputs” format.

If you’re interested, I can send them to you and you can see what you can make of them.

I have the list above, which is really what I am trying to develop. I’m not so much trying to create unique questions as get something that covers as much material as possible in the fewest questions.

I’m in for this sitting. Let me look through what I have, see how much it covers and we can compare notes and try to get a working file built that we can supplement from there.

Additional question: are you creating examples from the BKM textbook? Seems like they are combing it now for questions.

I was focused on actual past exam questions, though if there are specific areas that need to be added, we can certainly write additional ones. I have the Excel workbook ready with a dozen questions. I’ll try to upload or share it on Monday.

Is it worthwhile to setup a google docs link where people share and upload what they have? Might increase the question bank and have more diverse questions.

I’m trying to see if there is a way to upload documents here. I have a template all set, but it is in Excel format. Does anyone know how to do that?

My template can handle as many/few questions as you want. I was trying to keep the set small for this idea, but there is no reason someone couldn’t expand on it.

I think google docs is a good idea, you can upload the excel file directly to google sheets. If you open to it people can add to your file.

I really like the idea of curating questions from the BKM text. Question that are unique and not already asked in past exams.

But we risk exam writers using this bank to come up with question with unique twists.

OK, but at least we’re somewhat prepared for it. Better than going in completely blind.

Okay, here is a link to the Question Bank I have built so far. Can someone test whether you are able to open it, as well as whether you can edit the file vs. just download it?

I could open it. I think I might have to be signed in with Google to edit, but I could clearly download it. Haven’t dug into it real deeply, but this does randomize - right?

Yes, it’s static randomization. You put =RAND() to seed each question, then paste values the amounts so it doesn’t keep re-ordering every time you edit a cell.

Picking up on an old thread here, but we are creating something similar for exam 7. I wonder if there is wider interest for those taking exam 9 next spring. We would be glad to work on that too.

Here is a link to the exam 7 tool. Any feedback is welcome.