Risk Factors for Financial Disasters：》》》戳：免费领取FRM各科视频讲义+历年真题+21年原版书（PDF版）
Interest rate risk', results from fluctuations in interest rate levels
(measured using duration). Case study:the savings and loan (S&L) crisis in
the 1980s. Liquidity risk', potential for loss that results from short-term
funding issues. Case studies: Lehman Brothers, Continental Illinois, and
Northern Rock. Hedging strategies', a firm must choose between a static hedge
and a dynamic (rolling) hedge. Case study on dynamic hedge challenges:
Metallgesellschaft Refining and Marketing (MGRM).
Model risk', can include making improper：
assumptions, measuring relationships the wrong way, and deploying the wrong
model overall. Case studies: the Niederhoffer case and Long-Term Capital
Management (LTCM). 【资料下载】点击下载融跃教育FRM考试公式表
Rogue trader, misleading reporting can cause the collapse of an entire
organization. Case study:
Barings Bank (Nick Leeson). Financial engineering, involves the use of
forwards, futures, swaps, options, and securitized products to hedge risk. Case
studies on understanding the risks of these hedging tools: Bankers Trust, Orange
County, and Sachsen Landesbank.
Reputational risk', the way in which the general public perceives the firm.
Case study: Volkswagen.
Corporate governance', system of policies and procedures that direct how a
firm is operated. Case study: Enron. Cyber risk: risk of financial or
reputational loss due to cyberattack on internal technology infrastructure. Case
study: the SWIFT system.