FRM Exam Part I practice questions: the prompt for ChatGPT, Claude and Gemini

You are writing exam-style multiple-choice practice questions for me. I am preparing for FRM Exam Part I, set by GARP. Write questions that match the real exam's content, difficulty and style, drawn from the current official syllabus.

Write 20 questions. Each must be a standalone multiple-choice question that can be answered from its own stem and options, with exactly the right answer(s) marked and nothing ambiguous.

Set each question's `topic` to one of these names, copied exactly (same words, same capitalization; these are the only topic names the import accepts):
- Foundations of Risk Management (subtopics: Basic risk types, measurement, and management tools; Creating value with risk management; Risk governance and corporate governance; Credit risk transfer mechanisms; The Capital Asset Pricing Model (CAPM); Risk-adjusted performance measurement; Multifactor models; Data aggregation and risk reporting; Financial disasters and risk management failures; Ethics and the GARP Code of Conduct; Enterprise risk management (ERM))
- Quantitative Analysis (subtopics: Discrete and continuous probability distributions; Estimating the parameters of distributions; Population and sample statistics; Bayesian analysis; Statistical inference and hypothesis testing; Measures of correlation; Linear regression with single and multiple regressors; Time series analysis and forecasting; Simulation methods; Machine learning)
- Financial Markets and Products (subtopics: Structures and functions of financial institutions; Structure and mechanics of over-the-counter (OTC) and exchange markets; Structure, mechanics, and valuation of forwards, futures, swaps, and options; Hedging with derivatives; Interest rates and measures of interest rate sensitivity; Foreign exchange risk; Corporate bonds; Mortgage-backed securities (MBS))
- Valuation and Risk Models (subtopics: Value-at-risk (VaR); Expected shortfall (ES); Estimating volatility and correlation; Economic and regulatory capital; Stress testing and scenario analysis; Option valuation; Fixed-income valuation; Hedging; Country and sovereign risk models and management; External and internal credit ratings; Expected and unexpected losses; Operational risk)
Where subtopics are listed, set `subtopic` to one of them; otherwise choose a short, specific `subtopic` of your own or leave it out.

Spread the questions across the topics in the real exam's proportions, about:
- Foundations of Risk Management: 4 (20% of the real exam)
- Quantitative Analysis: 4 (20% of the real exam)
- Financial Markets and Products: 6 (30% of the real exam)
- Valuation and Risk Models: 6 (30% of the real exam)

Give each question exactly 4 options. Options are plain text without letter prefixes (DoMcq labels them A, B, C… by position); make them similar in length and form so the right one does not stand out.
Every question has exactly one correct option; `answer` is a single letter.
Never use these as an option: "all of the above", "none of the above". Avoid "both A and B" style options too.

Write stems the way the real exam does, for example: "Which of the following statements is correct?"; "most likely"; "closest to"; "most appropriate".
Keep each stem self-contained (any scenario the question needs is in the stem), concrete and free of trick wording. Do not refer to other questions, images, tables or exhibits.

Mix the difficulty: about 6 easy, 10 medium and 4 hard, and set each question's `difficulty` to "easy", "medium" or "hard" accordingly.

In `explanation`, say in two to four sentences why the correct answer is correct, in a way that teaches the underlying point, not just restates the option.

In `source`, give a short reference I can check in my own study materials (a syllabus topic, a chapter or section name, a learning objective, or a standard's clause), at most 200 characters; never invent a page number or a quotation.

Leave out `rationales` and `id`.

Before you answer, check your own work: no two questions ask the same thing; no question gives away another's answer; the correct option sits in a different position from one question to the next (never always the same letter); every `answer` letter exists for that question; the correct option is correct according to the current official material, not folklore; facts are accurate. Fix anything you find.

Output the whole set as one JSON object in the `domcq/1` format (schema: https://domcq.com/schema/v1; this is the import format of https://domcq.com):

```json
{
  "format": "domcq/1",
  "exam": "frm-p1",
  "set": "FRM Exam Part I practice – [a short name for this set]",
  "questions": [
    {
      "stem": "[the question, 10–2000 characters]",
      "options": [
        "[option 1]",
        "[option 2]",
        "[option 3]",
        "[option 4]"
      ],
      "answer": "B",
      "explanation": "[why the correct answer is correct, 1–3000 characters]",
      "topic": "Foundations of Risk Management",
      "subtopic": "[optional, more specific]",
      "difficulty": "medium",
      "source": "[a reference I can check]"
    }
  ]
}
```

Rules the import enforces: `format` is exactly "domcq/1"; `set` is 1–120 characters; `questions` holds all 20; each question has exactly the fields shown (no others); `stem` is 10–2000 characters and each option 1–500; `options` are all different; `answer` uses capital letters A–F naming options by position, in ascending order, never every option; `explanation` (1–3000 characters) and `topic` are required; `subtopic` (up to 120 characters), `difficulty` ("easy", "medium" or "hard") and `source` (up to 200 characters) are optional. Use plain double quotes in JSON strings (escape any inside text as \"), no trailing commas, no comments.

Reply with the JSON object inside a single ```json code fence and nothing else: no introduction, no commentary, no notes after it. If the set is long, keep going until every question is written and the JSON is complete and closed.