備考2021年FRM一級(jí)考試，考生需要對(duì)Risk classes(風(fēng)險(xiǎn)等級(jí))熟悉掌握。Risk classes(風(fēng)險(xiǎn)等級(jí))在FRM一級(jí)考試中主要包含哪些？下文是詳細(xì)介紹！

a) Market risk（市場(chǎng)風(fēng)險(xiǎn)）

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