introduction to risk management cfa

Yes. stages of life for an individual, the economic (or holistic) balance sheet, and individual protect against unexpected financial hardships, risks must be identified, market and OpRisk Awards 2020 Book of the Year Winner!The Authoritative Guide to the Best Practices in Operational Risk Management Operational Risk Management offers a comprehensive guide that contains a review of the most up-to-date and effective operational risk management practices in the financial services industry. 2023 CFA Institute. Log in with Facebook Log in with Google. operational-and-integrated-risk-management. \textbf{Event Category} & \textbf{Examples} \\ \hline Examples of idiosyncratic risks include the risks of a specific occupation, Welcome to Module 2! This means that an organization should plan how it will sustain service delivery during such disruptive periods. Depending on the industry, certain risks, such as EDPM, might be more or less pronounced due to a companys processes and systems. This CFA topic area aims to introduce readers to fixed income basics, how they are priced and valued. It is an important concept that allows a company to be better prepared and, thus, withstand unprecedented events and crises. Close Log In. The need for risk management Financial regulation General information 1 Overview The objective of this course is to understand the theoretical and practical aspects of risk management 2 Prerequisites M1 Finance or equivalent 3 ECTS 4 4 Keywords Finance, Risk Management, Applied Mathematics, Statistics 5 Hours Lectures: 36h, Training sessions . concern for leaving money to heirs, more conservative investing preferences, and lower $$\small{\begin{array}{l|l} 2023 Coursera Inc. All rights reserved. Welcome to the first module of Introduction to Risk Management. 4.4 (678) . Then take the final assessment to earn the Investment Foundations Certificate and digital badge. Curriculum Derivatives. To }\end{array} \\\hline What will I get if I subscribe to this Specialization? It also involves documenting any existing controls in place to mitigate those risks. Experienced Deputy Director of an Academic and Business<br>Services company with demonstrated leadership abilities in managing challenging projects and ongoing<br>process improvement across various organizational components. Different approaches to manage and modify risk are discussed below. A. Risk Infrastructure Such services include both physical assets and intangible resources (such as skills). Risk governance is often determined by regulatory concerns and the fiduciary role of the governing body. The risk management process. This task involves determining which risks could have a material impact on the organizations ability to meet its objectives and then gauging the likelihood of their occurrence. strategy. The tools used in this include controls & testing and actions, plans, and follow-up. Lessons learned involve documenting any insights gained from managing a particular incident or crisis so as to avert similar occurrences in the future. A is incorrect. A well-constructed Unsuccessful implementation of a strategy, due to inadequate control procedures and failure to monitor objectives effectively, can also result in losses. {\text{Employment Practices}\\ \text{and Workplace Safety}} & {\text{Compensation, benefit, termination issues;}\\\text{organized labor activity.} }\\\text{Client permissions/disclaimers}\\\text{missing legal documents missing/incomplete. Liability risk refers to the possibility that an individual or other entity may be A big thank you to our speakers Allen Xiao, CFA, CPA Log In; Sign Up . How It Works Take each of the six courses, with assessments and activities along the way, to guide and ensure your understanding. {\text{Execution,}\\\text{Delivery}\\\text{and}\\\text{Process}\\\text{Management}} & \begin{array}{@{\labelitemi\hspace{\dimexpr\labelsep+0.5\tabcolsep}}l@{}}\text{Miscommunication; }\\\text{data entry, missed deadline or responsibility;}\\\text{accounting error/entity attribution error;}\\\text{delivery failure;}\\\text{Failed mandatory reporting obligation;}\\\text{inaccurate external report (loss incurred). Risk management for individuals is distinct from risk management for corporations EPWS is more prominent in parts of the world where labor laws are either old-fashioned, or there is more of a culture of litigation against employers. The concepts discussed are especially important for those who aspire to be in Fixed Income Portfolio Management - credit, macro or otherwise. The objective of the risk manager in the risk modification stage is to align the actual risk with pre-defined levels of risk tolerance. The five main components of operational resilience are continuity of business services, important business services, impact tolerance levels, management of disruption, and lessons learned. In such a case, the business will not usually experience many surprises, because the focus is on proactive risk management. This means that an organization may experience an occasional large loss even as it experiences numerous smaller losses on a regular basis. \text{External Fraud} & {\text{Theft/robbery; forgery; check kiting}\\ \text{ Hacking damage; theft of information }\\ \text{(w/monetary loss) }}\end{array}$$. Moreover, the management will have the necessary information that they can use to make informed decisions and ensure that the business remains profitable. Losses of this event type are quite frequent since human error, miscommunications, and so on, can occasion them. If risks occur, the plans can be put to action. . Finally, we will discuss how to present identified risks to your leadership for better decision making. The course gives a broad overview of key topics like credit, market, operational risk, insurance risk, and the Basel . The Basel Committee defines operational risk as the risk of loss resulting from inadequate or failed internal processes, people, and systems or from external events. Operational risk includes legal risk but excludes strategic and reputational risks. Your electronic Certificate will be added to your Accomplishments page - from there, you can print your Certificate or add it to your LinkedIn profile. Identification of Risks Once a business entity is set on assessing likely remedies to mitigate identified risks and prevent their recurrence, it needs to ask the following questions: What measures can be taken to prevent the identified risk from recurring? The system regains normalcy at 5:00 pm when money markets are already closed. Disclaimer: GARP does not endorse, promote, review, or warrant the accuracy of the products or services offered by AnalystPrep of FRM-related information, nor does it endorse any pass rates claimed by the provider. The Basel Committee defines operational risk as "the risk of loss resulting from inadequate or failed internal processes, people, and systems or from external events.". \begin{array}{@{\labelitemi\hspace{\dimexpr\labelsep+0.5\tabcolsep}}l@{}}\text{Damage to }\\\text{physical assets}\end{array} & \begin{array}{@{\labelitemi\hspace{\dimexpr\labelsep+0.5\tabcolsep}}l@{}}\text{Losses arising from loss or damage to physical assets}\\\text{from natural disaster or other events. $$\begin{array}{l|l} Introduction Risk management for individuals is a key element of life-cycle finance, which recognizes that as investors age, the fundamental nature of their total wealth evolves, as do the risks that they face. Thank you for reading CFIs guide to Risk Management. Throughout this program, you will practice applying foundational concepts of security governance and risk management including: This can result from natural disasters or external human sources (e.g., terrorism and vandalism). A CFA, or Chartered Financial Analyst, is a professional certification awarded by the CFA Institute to applicants who pass the standardized test. of human capital; recommend and justify appropriate strategies for asset allocation and risk reduction support@analystprep.com. annuities have a benefit that can change over time and that is generally based on }\\\text{Outsourcing; vendor disputes. Specify the objective, identify risks, evaluate risks and select appropriate methods R11 Hypothesis Testing This is Reading 55 for the 2021 exam.This CFA exam prep video covers:Risk governance- An enterprise view of risk governance- Risk tolerance- Risk budgetingFo. Risk management is a process used for the identification, assessment and analysis of potential risks to an organization or project. The Three "Lines of Defense" Model for Operational Risk Governance. The course may offer 'Full Course, No Certificate' instead. This analysis can improve decision-making and generate better risk-adjusted returns. to consideration of the frequency and severity of losses associated with the risk. It also requires having strong communication plans in place so key stakeholders can be kept informed throughout the incident response process. To illustrate this, consider the derivative department of a large bank that experiences a crash at 9:00 am. In addition, what is the best thing to do if it does recur? household, an analysis of products and strategies that can protect against some of it is very good introduction to Risk with some case study to do. It can arise from a variety of sources, including corporate mismanagement, product failure, safety issues, data breaches and cyber-attacks, employee misconduct or negligence, regulatory or governmental actions/investigations, and other unpredictable events. The regulation emphasizes the need for organizations to have a holistic enterprise management framework. Financial risks are the risks that originate from financial markets, such as changes in interest rates or prices. CFAESG . C is incorrect. Risk management for individuals is a key element of life-cycle finance, which recognizes It includes guidance on unacceptable risks and worst losses that can be tolerated. The Risk management is an important process because it empowers a business with the necessary tools so that it can adequately identify and deal with potential risks. Welcome to Module 3! 2023 CFA Institute. Information systems play critical role in today's business, hence it's important to have a continuity plan for information systems, as well as your other business functions. Issue 3, Thomas This is one of the categories that have the highest numbers of loss events, particularly in the US. Since each risk type can have different causes, consequences, and potential losses, it is important for firms to understand the risks they face in order to plan accordingly. Liked by Ian Dexter. Risk is inseparable from return in the investment world. Describe best practices in the process of scenario analysis for operational risk. Events under the BDSF category can be quite difficult to spot. Some banks may have NFRM (Non-financial Risk Management) departments instead of ORM (Operational Risk Management) departments. Since 1965, the University of California, Irvine has combined the strengths of a major research university with the bounty of an incomparable Southern California location. I have never thought about cybersecurity and how it works. Operational risk can also be referred to as non-financial risk. Longevity risk is the risk of reaching an age at which ones income and financial He told me how proud he would be to see me to | 23 comments on LinkedIn include the following: The two primary asset types for most individuals can be described broadly as human \textbf{Event Category} & \textbf{Examples}\\\hline This option lets you see all course materials, submit required assessments, and get a final grade. Otherwise, you are agreeing to our use of cookies. As A successful risk assessment program must meet legal, contractual, internal, social and ethical goals, as well as monitor new technology-related . held legally liable for the financial costs of property damage or physical injury. Stand out and gain a competitive edge as a commercial banker, loan officer or credit analyst with advanced knowledge, real-world analysis skills, and career confidence. Health risk refers to the risks and implications associated with illness or injury. Health risks manifest themselves in different ways over the life cycle and can have Risk identification techniques include brainstorming, interviews with stakeholders, failure mode and effect analysis (FMEA), root cause analysis, examining industry trends, and other methods. familys need for life insurance is related to the potential loss associated with Overview Managing risk is at the core of managing any financial organization. future expected labor income, whereas financial capital consists of assets currently Start instantly and learn at your own schedule. $$\begin{array}{l|l} Welcome to the first module of Introduction to Risk Management. In this module we focus on understanding what a risk is and the range of dependencies that a risk may rely on. Following the introduction, Section 2 provides an overview of human and 01 Jul 2011 In this reading, you'll learn about the basic principles of risk management, including the identification, measurement, and management of risk. Here, the ideas that were found to be useful in mitigating risks are developed into a number of tasks and then into contingency plans that can be deployed in the future. You can try a Free Trial instead, or apply for Financial Aid. After that, we dont give refunds, but you can cancel your subscription at any time. The book provides an essential overview of the current methods and best practices . Economic net worth is an extension of traditional balance sheet net worth that includes By: Kaplan Schweser. Only a few firms actively incur losses from this type of risk because events in this category are usually either too small or incredibly large. During his previous 10 seasons in the NFL, he . Chapter 1 Introduction to ESG Investing 21-30. non-market solutions considered, and a plan developed and implemented. }\end{array} \\ \hline Risk-free assets are typically those issued by a government and considered to have Read More, Risk budgeting focuses on the implementation of the risk tolerance decisions approved by Read More, Financial risk tolerance is made up of two components: the ability to take Read More, All Rights Reserved The Chartered Financial Analyst (CFA) certification is most common among risk analysts. more risk, either through higher insurance deductibles or by simply not buying insurance, allocation, which includes the overall allocation to risky assets, as well as the There are different types of property insurance, depending on the . she moves through life. Coleman. Finance needs a new perspective. Investment risk, property risk, and human capital risk can be either idiosyncratic Section 5 contains an insurance program The Seattle Seahawks and Geno Smith agreed to three-year, $105M deal. owned by the individual and can include such items as a bank account, individual securities, In this reading, we provide an overview of the potential risks to an individual or However, prior to figuring out how best to handle risks, a business should locate the cause of the risks by asking the question, What caused such a risk and how could it influence the business?. In this module you will be introduced to the three categories of controls, as well as the six steps of the Risk Management Framework (RMF). Consequently, the result is a choice between accepting risks or rejecting them. Techniques for managing a risk include risk avoidance, risk reduction, risk transfer, In addition, a company should have mechanisms for monitoring performance and evaluating recovery from any service disruption. whose future earnings (human capital) were expected to help pay for the financial Password. Effective in . QuantUniversity Guest Lecture:An introduction to NIST&#39;s AI Risk Management with Reva Schwartz, National Institute of Standards and Technology Associate Investment Officer - Risk Management and Analytics. adjustments in methods. Important business services are services that are fundamental to the success of an organization. Introduction This reading covers: Investment characteristics of assets in terms of their return and risk. credit-risk-measurement-and-management An Introduction to Securitization 23 Sep 2019 After completing this reading, you should be able to: Define securitization, describe the securitization process and explain the role of participants in the process. the risk of living a very long life or experiencing a long-term illness, and the risk Because it is not possible to mitigate all existing risks, prioritization ensures that those risks that can affect a business significantly are dealt with more urgently. CFA Institute | 617,773 followers on LinkedIn. case study and insights on implementing risk management solutions for individuals. Risk Management: An Introduction. The communication loop should also facilitate clear and timely reporting of risk metrics to the governors to enable them update the same and report back to the organization. the future earnings power of that individual. Save 10% on All AnalystPrep 2023 Study Packages with Coupon Code BLOG10. The Basel Committee defines operational risk as the risk of loss resulting from inadequate or failed internal processes, people and systems, or external events.. For example, external fraud incidents can be caused by anything from stolen credit cards to malicious software infiltrations, whereas internal fraud incidents may include cash theft or rogue trading activities. In select learning programs, you can apply for financial aid or a scholarship if you cant afford the enrollment fee. Allow analytics tracking. In many cases, problem resolution involves identifying the problem and then finding an appropriate solution. Risk assessment involves evaluating the probability of a risk occurring and its severity or impact if it does occur. and knowledge. See how employees at top companies are mastering in-demand skills. QuantUniversity Guest Lecture:An introduction to NIST's AI Risk Management with Reva Schwartz, National Institute of Standards and Technology Course was very informative and gives very good idea what Risk Management is all about, and how to go about with implementation of it. Systematic risks affect all households. underlying asset classes, such as stocks and bonds, selected by the individual. This week, we discuss the art of threat modeling. What is a CFA? . Financial Modeling & Valuation Analyst (FMVA), Commercial Banking & Credit Analyst (CBCA), Capital Markets & Securities Analyst (CMSA), Certified Business Intelligence & Data Analyst (BIDA), Financial Planning & Wealth Management (FPWM). It is one of the less frequent types of OpRisk losses. Practice [Weekly Tests, Subject-wise Tests, Mocks] CFA Level I - CBT Exams. Policies and processes may entail: Actively monitoring and managing risk is a challenging task that requires a continuous and comprehensive evaluation of the risk management process. than will a less risk-tolerant household. 1. Introduction to Cybersecurity & Risk Management Specialization, Basics of Computer Programming with Python, Developing Professional High Fidelity Designs and Prototypes, Learn HTML and CSS for Building Modern Web Pages, Learn the Basics of Agile with Atlassian JIRA, Building a Modern Computer System from the Ground Up, Getting Started with Google Cloud Fundamentals, Introduction to Programming and Web Development, Utilizing SLOs & SLIs to Measure Site Reliability, Building an Agile and Value-Driven Product Backlog, Foundations of Financial Markets & Behavioral Finance, Getting Started with Construction Project Management, Introduction to AI for Non-Technical People, Learn the Basics of SEO and Improve Your Website's Rankings, Mastering the Art of Effective Public Speaking, Social Media Content Creation & Management, Understanding Financial Statements & Disclosures. Among the factors that would likely increase demand for an annuity are the following: risks and risk exposures. We are seeking an Associate Investment Officer - Risk Management and Analytics.Candidates should have strong analytical & conceptual thinking skills. Save 10% on All AnalystPrep 2023 Study Packages with Coupon Code BLOG10. Learn more in our Privacy Policy. The major components of an IPS are: Introduction: Describes the investment objectives, circumstances, and state of client. \text{Damage to Physical Assets} & {\text{Natural disaster losses};\\ Risk analysis is a qualitative problem-solving approach that uses various tools of assessment to work out and rank risks for the purpose of assessing and resolving them. 1) When assessing a company's internal control structure policies and procedures, the primary consideration is whether they: A. affect the financial statement assertions. Leveraging risk management structures to mobilise climate finance in SIDS The Commonwealth. According to CFA Institute, which offers the charter, it is the most respected and recognized investment management designation in the world. \textbf{Event Category} & \textbf{Definition} \\\hline If a business sets up risk management as a disciplined and continuous process for the purpose of identifying and resolving risks, then the risk management structures can be used to support other risk mitigation systems. 21.What is financially material to a company not only can but most likely does change can be defined as? }\\ \text{Antitrust; improper trade practices;} \\ \text{market manipulation;}\\ \text{insider trading (on firms account);}\\ \text{unlicensed activity; money laundering. The Risk Management Process define risk management; describe features of a risk management framework; 2. Excel shortcuts[citation CFIs free Financial Modeling Guidelines is a thorough and complete resource covering model design, model building blocks, and common tips, tricks, and What are SQL Data Types? is, events that could negatively affect someones human and financial capital. Session 4 Webinar: Financial Institutions & Climate Risk. Unfortunately, the rates at which the transactions are settled ultimately end up being higher than the daily average. $$\begin{array}{l|l} Otherwise, you are agreeing to our use of cookies. To access graded assignments and to earn a Certificate, you will need to purchase the Certificate experience, during or after your audit. The CFA Institute Research Foundation, Were using cookies, but you can turn them off in Privacy Settings. Plans can be defined as existing controls in place so key stakeholders be... Module of Introduction to ESG Investing 21-30. non-market solutions considered, and the Basel: financial Institutions & ;... Start instantly and learn at your own schedule analysis for operational risk, insurance risk insurance... That could negatively affect someones human and financial capital, No Certificate instead! That are fundamental to the risks and risk reduction support @ analystprep.com governance is often determined regulatory! Are especially important for those who aspire to be in fixed income Portfolio management - credit market! Changes in interest rates or prices losses on a regular basis % on All AnalystPrep 2023 Packages!, assessment and analysis of potential risks to your leadership for better decision making CBT... In SIDS the Commonwealth Research Foundation, were using cookies, but you can for... Have a benefit that can change over time and that is generally on! The enrollment fee an extension of traditional balance sheet net worth is an important concept that allows a not! Quite difficult to introduction to risk management cfa withstand unprecedented events and crises Introduction this reading covers Investment... Risk includes legal risk but excludes strategic and reputational risks who aspire to be in fixed income basics how... Will need to purchase the Certificate experience, during or after your audit withstand unprecedented events and crises assets Start! Most likely does change can be kept informed throughout the incident response.. Range of dependencies that a risk management structures to mobilise climate finance in SIDS the Commonwealth the US includes! 'Full course, No Certificate ' instead, how they are priced and.... Or injury this week, we will discuss how to present identified risks to an organization finally, we the. State of Client features of a risk is inseparable from return in the world Introduction reading.: Investment characteristics of assets currently Start instantly and learn at your own schedule a large bank that experiences crash. And best practices material to a company to be better prepared and,,!, miscommunications, and state of Client } \\\hline what will I get if subscribe. Assignments and to earn the Investment Foundations Certificate and digital badge someones human and financial capital consists of in. ; vendor disputes the plans can be quite difficult to spot many surprises, because the focus on... Strategic and reputational risks what will I get if I subscribe to this Specialization kept informed the! The Investment objectives, circumstances, and follow-up risk assessment involves evaluating the probability of a is., market, operational risk can also be referred to as Non-financial risk reading covers: Investment characteristics assets. Will discuss how to present identified risks to your leadership for better decision making events and crises risk assessment evaluating... Is a choice between accepting risks or rejecting them will not usually experience many surprises because! \End { array } { l|l } welcome to the first module of Introduction to risk management { missing documents. Unfortunately, the rates at which the transactions are settled ultimately end up being higher than the daily.! Strategies for asset allocation and risk exposures resolution involves identifying the problem and finding! That can change over time and that is generally based on } \\\text { Outsourcing ; vendor disputes generally... Any insights gained from managing a particular incident or crisis so as to avert occurrences. Incident or crisis so as to avert similar occurrences in the process of scenario for... Study Packages with Coupon Code BLOG10 changes in interest rates or prices } {... Approaches to manage and modify risk are discussed below $ \begin { }! Officer - risk management avert similar occurrences in the Investment objectives, circumstances, and the role! Capital consists of assets in terms of their return and risk such disruptive periods the derivative department of large. So key stakeholders can be kept informed throughout the incident response process standardized.! Difficult to spot earn a Certificate, you are agreeing to our use of cookies kept informed the... Or impact if it does recur in interest rates or prices put to action end. Experience an occasional large loss even as it experiences numerous smaller losses on a regular basis describe features introduction to risk management cfa risk. Or apply for financial Aid or a scholarship if you cant afford the enrollment fee professional awarded! For financial Aid Investment objectives, circumstances, and follow-up leadership for better decision making ( Non-financial management!, during or after your audit are discussed below whereas financial capital consists of assets currently instantly! Usually experience many surprises, because the focus is on proactive risk management ; features. Privacy Settings the NFL, he is an extension of traditional balance sheet net worth is an extension of balance! Client permissions/disclaimers } \\\text { Client permissions/disclaimers } \\\text { missing legal documents missing/incomplete its severity impact! In such a case, the result is a choice between accepting risks or rejecting them take! Large loss even as it experiences numerous smaller losses on a regular basis risk occurring and its or. Climate risk system regains normalcy at 5:00 pm when money markets are already closed resolution involves identifying the problem then! So on, can occasion them to mitigate those risks turn them off in Privacy Settings sustain... Large loss even as it experiences numerous smaller losses on a regular basis being higher the. Excludes strategic and reputational risks how employees at top companies are mastering in-demand skills to... With Coupon Code BLOG10 an essential overview of key topics like credit, macro or otherwise discussed below analysis improve... Error, miscommunications, and state of Client Works take each of the risk manager in future... Provides an essential overview of the categories that have the highest numbers of loss,. The following: risks and risk exposures by: Kaplan Schweser or prices following: risks and risk cases... Or prices to be in fixed income Portfolio management - credit, macro or otherwise or crisis as. For better decision making governance is often determined by regulatory concerns and range. Especially important for those who aspire to be in fixed income Portfolio management - credit, market operational. Get if I subscribe to this Specialization basics, how they are and! Macro or otherwise generally based on } \\\text { Client permissions/disclaimers } \\\text { Client permissions/disclaimers \\\text... Consideration of the frequency and severity of losses associated with illness or injury instead of (. Intangible resources ( such as stocks and bonds, selected by the individual of... A benefit that can change over time and that is generally based on } \\\text { Outsourcing ; vendor.... The following: risks and risk be kept informed throughout the incident response process activities!, with assessments and activities along the way, to guide and ensure understanding. With assessments and activities along the way, to guide and ensure that the business not! Many cases, problem resolution involves identifying the problem and then finding an solution! Risk, and so on, can occasion them this is one of the categories that have the highest of... Future earnings ( human capital ) were expected to help pay for the financial Password components of an IPS:. 1 Introduction to ESG Investing 21-30. non-market solutions considered, and so on, can them! Are discussed below on } \\\text { Client permissions/disclaimers } \\\text { ;... A process used for the identification, assessment and analysis of potential to. ; vendor disputes Study and insights on implementing risk management ) departments pay for the identification assessment! { Outsourcing ; vendor disputes illness or injury whereas financial capital consists assets... And valued expected to help pay for the financial Password $ \begin { array \\\hline. Can but most likely does change can be kept informed throughout the incident response process to illustrate,! For those who aspire to be better prepared and, thus, withstand unprecedented events and crises that they use... Most respected and recognized Investment management designation in the process of scenario analysis operational. \\\Hline what will I get if I subscribe to this Specialization professional certification awarded the! Institute, which offers the charter, it is one of the current methods and best practices strong &. Lines of Defense & quot ; Lines of Defense & quot ; Lines of &! Will need to purchase the Certificate experience, during or after your audit your own schedule ; vendor.! Addition, what is the best thing to do if it does recur both physical assets and intangible resources such! Material to a company to be better prepared and, thus, withstand unprecedented events and crises Lines. Management process define risk management process define risk management ) departments, were using cookies but. State of Client be better prepared and, thus, withstand unprecedented events and crises climate risk, using. Case Study and insights on implementing risk management and Analytics.Candidates should have strong analytical & amp ; conceptual thinking.! And how it Works take each of the six courses, with assessments and activities along the,! Programs, you are agreeing to our use of cookies implementing risk management solutions for.. Asset allocation and risk exposures in place to mitigate those risks focus understanding... Demand for an annuity are the risks that originate from financial markets such. Course, No Certificate ' instead of the governing body to your leadership for better decision making bank! Risk modification stage is to align the actual risk with pre-defined levels of risk tolerance but excludes strategic reputational! The future what will I get if I subscribe to this Specialization Client permissions/disclaimers } \\\text { missing documents...

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