UniGeniusRisk Manager Part II Prep

Prepare for Part II with every number worked.

Find your weakest topic area in a free 12-question diagnostic, fix it with a short lesson, then practice with every calculation shown.

The only interactive course with a tutor that finds your weak spots and fixes them.

Take the free diagnostic

One payment in US dollars. Full refund within 14 days, for any reason.

Try four questions

Market, credit, operational and liquidity risk, at the exam's level. Pick an answer to see every step of the working.

Question 1Estimating VaR and expected shortfall: historical, weighted and parametric
Two desks have stand-alone one-day 99% VaRs of $6 million and $8 million. Their returns are jointly normal with a correlation of 0.25. The combined one-day 99% VaR is closest to:
Question 2Default probabilities: structural and reduced-form models
A firm's assets are worth $200 million, with an expected return of 8% a year and a volatility of 25% a year. It has a single zero-coupon debt issue with face value $150 million due in one year. In the Merton model with lognormal asset values, the distance to default at the one-year horizon is closest to:
Question 3Measuring operational risk: loss data, scenarios and loss distributions
Card fraud losses at a bank arrive at an average rate of 1.5 events a month, and the average loss per event is $240,000. Frequency and severity are independent. The expected annual fraud loss is closest to:
Question 4Liquidity-adjusted VaR and liquidation costs
An $80 million position has a one-day 99% VaR of $5.0 million. Its constant relative bid-ask spread is 1.25%. With the liquidity cost set at half the spread times the position value, the liquidity adjustment raises VaR by a percentage closest to:

Free tools

The six topic areas

80 equally weighted questions in four hours, with no formula sheet. In November 2025, 50% of Part II candidates passed.

Market Risk Measurement and Management

VaR and expected shortfall estimation, extreme value theory, backtesting, VaR mapping, correlation, term structure models, volatility smiles and the trading book rules.

16 questions in each of our mocks

Credit Risk Measurement and Management

Credit analysis, structural and reduced-form default models, credit VaR, retail scoring, counterparty exposure, netting and collateral, CVA, securitization and CDS.

16 questions in each of our mocks

Operational Risk and Resilience

Governance and controls, cyber and third-party risk, operational resilience, loss data and scenarios, standardized capital, RAROC and Basel ratios.

16 questions in each of our mocks

Liquidity and Treasury Risk Measurement and Management

Funding and market liquidity, the LCR and NSFR, liquidity-adjusted VaR, repos and haircuts, gap and duration gap analysis, transfer pricing and contingency funding.

12 questions in each of our mocks

Risk Management and Investment Management

Factor investing, the fundamental law, performance measures and attribution, hedge funds and due diligence, risk budgeting and component VaR.

12 questions in each of our mocks

Current Issues in Financial Markets

Climate risk, AI and model risk, digital assets and stablecoins, and how rate shocks and uninsured deposits turn into bank runs.

8 questions in each of our mocks

In the course

  • 13 interactive lessons
  • 270 practice questions, every number worked
  • 2 full 80-question mocks in four hours

See the course

Guides

Risk Manager Part II Prep Pro

US$499one payment

  • 13 interactive lessons
  • 270 practice questions with every number worked
  • 2 full 80-question practice exams in four hours

Full refund within 14 days. Ask within 14 days of paying, for any reason. Our refund promise still applies after you start the course. The note under the pay button is about the separate legal right to cancel. Terms

By paying you agree to our Terms. Email us within 14 days for a full refund.
Take the free diagnostic first

Apple Pay, Google Pay or card. Charged in USD.
One payment. No sales tax is added. Access until November 30, 2027.

Questions? support@unigenius.co.uk