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All About FRM Exam- Preparation Study Materials

All About FRM Exam- Preparation Study Materials

All About FRM Exam- Preparation Study Materials:- Check out the complete details about FRM Textbooks, FRM Video Lectures, FRM Study Notes, FRM Preparations, FRM Study Materials, FRM Study Plan, FRM Practice Exams, FRM Exam Format, FRM Exam Benefits etc.

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FRM Exam- FRM Video Lectures

FRM Video- FRM Part 1

This Online Training Course on Financial Risk Manager or FRM® Certification covers the syllabus prescribed by GARP for 2016 exams and is founded by Amit Parakh, a CA, FRM, CS and CFA holder and a renowned trainer for FRM and related Finance Courses.

FRM Video- FRM Part 2

This Online Training Course on Financial Risk Manager or FRM® Part 2 Certification covers the syllabus prescribed by GARP for 2016 exams and is delivered by a renowned trainer for FRM and related Finance Courses.

Recommended Read:- 

 FRM Exam- FRM Notes

Recommended Read:- FRM Notes Free Download PDF

FRM Exam- FRM Preparation

FRM Preparation- Things NOT to do

  • Read course like a novel
  • One should not read whenever he gets time , like for 10 mins or 30 mins in a break .
  • Reading all theory first and practicing it later .

FRM Preparation- Things to do

  • Study for hours at a stretch .
  • Sit with your material continuously for 2-3 hours .
  •  It doesn’t matter if you practice after each chapter as you wont be remembering any of it by the end of the preparation so keep practicing all at once after 1 full reading .
  • Few online courses which costs around 7K INR gives video lectures and interactive webinars , that will be helpful .
  • Practice more . If you start solving problems from day 1 then you dont need to study theory at all . You will understand concept while you practice problems.
  • Start with Schwesars notes, read all books once even if you can’t grasp much. Then go for the FRM handbook by Philippe Jorion, its a super must and suggested by GARP itself! Its too tough to drill through but you will enjoy it. Repeat this cycle until you know you understand quite a lot now. There are several questions in between chapters those will help you learn a lot.
  • After say 2 such cycles, start giving tests on schwesars question bank, its a software basically. Again very very helpful as there are 1500 such questions. You can prepare you own tests from simple medium and difficult category questions.
  • Take 2 weeks off before exam and solve only schwesars exam booklets, there are two I guess.

Recommended Read:- FRM Preparation- How to Pass the FRM Exam

FRM Exam- FRM Study Material

Here is a comparison between the study material that can be used to prepare for your FRM Part I &II exams

AttributeFRM BooksSchweser 
Cost Part I Exam$250 + shipping$399
Cost Part II Exam$295 + shipping$399
FormatPrintedPrinted
Practice ExamsYes, free on siteYes
End of Chapter QuestionsYesYes
Question BankNoYes
Must-know quick sheetNoYes

There are several packages that are available with Schweser, you could choose the one with the features that suits your requirement. Although for comparison purpose I have included the price and attributes of the Essential Self Study Package. Further to decide whether to opt for the FRM curriculum notes or the prep material will depend upon the time you are going to invest in the preparation of the FRM exam.

Recommended Read:- FRM Study Material & Exam Preparation

FRM Exam- FRM Study Plan

FRM Study Plan- Understand the curriculum

The first and the most important thing is to get a hang of the entire syllabus that you are going to study. Take efforts to really understand it.

FRM Study Plan- Go through the GARP readings

It is important to go through the core GARP readings at least once and also the FRM Handbook.

FRM Study Plan- Find a study partner

If you can find a study partner. Look out for someone in similar situation as your and a schedule. You can be good help to each other in case of doubts and each partner’s strength in particular subject.

FRM Study Plan- Start early

Get this straight, these are not your college exams wherein last minute study could get you through. In order to prepare well start early and very well plan the preparation schedule, accordingly decide how much time to dedicate for each day. Especially if you are not someone from the finance and quants background you will have to dedicate sufficient time for the preparation.

FRM Study Plan- Stipulate your own hours of study

Though the recommended hours are somewhere around 200 hours, doesn’t imply you will clear the exam. These criteria are completely subjective and requires sincere efforts ranging between 100-500 hours.

FRM Study Plan- Prepare well for formulas and calculations

Important consideration for the exam takers is that there is good amount quantitative aspect in the subject matter. The mathematical difficulty of the Exam is similar to that of graduate level finance course. Moreover, there are important formulas and calculations which need to be known along with its correct application.

FRM Study Plan- Prepare your own quick sheet

The syllabus involves hell lot of formulas (find them at the end of every chapter) and methods to various measurement type. Mind you, formula sheets are not provided with the exam. So you need to memorize them. One way is to prepare your own formula quick sheet and keep referring to it whenever you have free time during your work or while you are travelling.

FRM Study Plan- Practice, Practice and Practice! 

Going through the notes, mugging up formulas is only a part of the preparation. The key is going to be the amount of practice you do on solving the problems. It might also happen that you practice today and might forget after a week. So you can’t do much here but just KEEP PRACTICING! Solve as many practice exams which would give you a hang of how the real thing would be like and make you confident for the final match.

FRM Study Plan- Course is not a novel

You should not be reading whenever you get time only for 15-20 minutes. Make a habit to study for hours at a stretch for 2-3 hours. Learn the concepts and practice them immediately. If you do that right from day 1 you will not feel the need to again and again read the concepts.

FRM Study Plan- Solve sample papers by GARP

Going through the GARP core readings properly and solving their practice exam (available for free once you register for the exam) should give you a good confidence boost to clear the paper. Also, a few more practice exams Schweser are never harmful. Although do not expect the same level of questions to appear in your paper. Anticipate that the GARP guys will take you for a ride. Simple- Prepare for the worst!

FRM Study Plan- Prepare every section

Do not drop a few concepts and topics thinking that it is unimportant. Such decisions could backfire. You just cannot afford to ignore any formula from any corner of the books. STUDY EACH AND EVERY THING.

FRM Study Plan- Dedicate at least 1 week before the exam

If you are working, try and take a week off from before the exam and keep other commitments to the minimum. Use it to stuff yourself with some concepts for that extra edge. Devote this time practicing and rereading your material.

Recommended Read:- FRM Study Plan & Preparation- November 2016

FRM Exam- FRM Practice Exams

Recommended Read:- FRM Practice Exams Free Download

FRM Exam- FRM Study Notes

Recommended Read:- FRM Study Notes Free Download PDF

FRM Exam- FRM Revision Tips

FRM Revision Tips:- Study Plan

Have a definite and strategically planned study schedule. If you are working, now is the time to take leave from your job, and dedicate all your time and attention to preparing for the exam.

FRM Revision Tips:- Concepts & the Big Picture

Be absolutely thorough with the basic concepts. Being able to answer majority of the questions that rely on your knowledge of the concepts will really increase your chances of making it through the exams. Once you have covered the basic concepts, then you should move on to knowing a little more about all the concepts.

It will help you to differentiate between the relevant and the irrelevant information and choices in a question about a particular concept. Getting a hold of this big picture of the concepts covered, will really improve your odds to score maximum in the exam.

FRM Revision Tips:- Identification of the Characteristics

Make sure you completely understand and revise thoroughly, identification of the characteristics of the various models, securities and valuation methods. This would be the most common approach for the questions asked in the exam.

FRM Revision Tips:- Formulae

When dealing with formulae, instead of trying to remember the formula, it will really help if you understand what it means and its true concept. Gaining an insight to the workings, the input variables of the formula and when to use it, will really help you when appearing for the exam. You will not be dependent on memorising all those formulae, and you will know what all those formulae really mean.

FRM Revision Tips:- Study Material

There is no study material as such available for the FRM exam. However, there is a recommended list of books, and also online/printed versions of the material for this course provided by GARP, and CAKART.

FRM Revision Tips:- Practice Exams

It is of utmost importance to solve practice exams in these last few weeks. Solve these practice exams, like an actual exam. Do not give in to the temptation of looking for the questions beforehand, or the answers when taking the exam. Take only the time that is actually given during the real exam, without any distractions.

FRM Revision Tips:- Time per Question

Allocate 2.5 to 3 minutes to each question in the FRM exam.

  • Devote special attention to topics that you are weak with, but at the same time, focus on constant revision of the topics that you are strong with.
  • Take good rest and keep your mind calm the evening before the exam day. It is important to attempt for the exam with a rested and fresh mind, to avoid panicking and making silly mistakes when taking the exam.
  • Be well acquainted with the location and area of your exam centre, and the amount of time it will take for you to get there. You do not want to distract yourself with location problems on the day of the exam.

FRM Revision Tips:- The Double Negatives

When reading the questions, be careful of the words used and the questions asked. For instance, you must look out for the double negatives like, “Which of the following is least likely a disadvantage”. Do not miss the words and understand what the examiner is really asking you. Using those extra few seconds will help you make it or break it in the exam.

FRM Revision Tips:- Non-numerical Questions

When attempting a question that is non-numerical, ensure you go through all the choices given before answering. You may find a seemingly correct answer among the choices, but if you don’t go through all the options, you may miss out on the better and the more correct answer.

FRM Revision Tips:- How to handle a difficult question

If you come across a question that is difficult, or a question you are unsure of, do not panic. Reread the question in case you think you have not been able to make sense of the question in the first read. Try to rule out the options that you know are not the answer, and when still not sure, choose the one that makes it to your best guess.

FRM Revision Tips:- Passing Coverage

Maintain your composure and confidence during the exam. Keep your focus on attempting thoroughly and correctly for around 75% of the exam, and you will have a decent passing score. If at all you are doubtful about the remaining 25% of the paper, there still is no reason to lose hope or panic.

Recommended Read:- FRM Revision Tips- Last Month Preparation Tips & Strategies

FRM Exam- FRM Exam Format

FRM Exam Format- Part I

The table below shows you a breakdown of the topics covered in this level.

TopicsWeighting
Foundations of Risk Management20%
Quantitative Analysis20%
Financial Markets and Products30%
Valuation and Risk Models30%

FRM Exam Format- Part II

Candidates must pass Part I of the FRM exam in order to have Part II graded.  The table below shows the breakdown of the topics covered in this part.

TopicsWeighting
Market Risk Measurement and Management25%
Credit Risk Measurement and Management25%
Operational and Integrated Risk Management25%
Risk Management and Investment Management15%
Current Issues in Financial Markets10%

Recommended Read:- FRM Exam Format- Structure & Content

FRM Exam- FRM Benefits

  • Stand out to employers and set yourself apart
  • Develop your knowledge and expertise
  • Join an elite group across the world
  • Demonstrate your leadership at work
  • Confirm your achievements through real-world experience
  • Enhance your reputation
  • Grow your global networking connection
  • Increase your opportunities across the globe

Recommended Read:- FRM Benefits- Carees, Salaries

FRM Exam- Order Top faculty FRM video classes and books from CAKART.in for your exam preparation

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CAKART provides India’s top FRM faculty video classes – online & in Pen Drive/ DVD – at very cost effective rates. Get FRM Video classes and books from CAKART.in to do a great preparation for your exam.

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