Cross-Border Capital Adequacy Ratios and Stress Tests

I just sat the GFC yesterday and found that the regulatory framework section was far denser than the market mechanics I am used to dealing with in my PE role. The distinctions in cross-border capital adequacy ratios really gave me pause during the afternoon case study. I think the key was actually focusing on the stress testing scenarios found in the latter chapters rather than just memorizing definitions. Anyone else feel like the short-answer questions on derivative counterparty risks were harder than the long-form written sections?