FRM Revision Tips- Last Month Preparation Tips & Strategies
FRM Revision Tips- Last Month Preparation Tips & Strategies:- Have a well-defined strategy for the last weeks before the FRM®exam. If at all possible, it is best to take some leave from your job. You should save at least one FRM practice exam for the last week.
To simulate the real exam, you should avoid looking at this exam or studying questions from it until you are ready to sit down and take it for the first time. Take this exam early in the final weeks.
Time yourself so you can get a feel for the time constraints and pressure of exam day. Remember, you have an average of about 2.5 to 3 minutes per question. When you have completed the entire exam, grade your answers and use these results to identify areas where you need to focus your study efforts over the last few days. You should devote most of your time to areas where you performed poorly, but you should also spend enough time keeping your stronger topics fresh in your mind.
During the evening before the FRM exam, it is best to avoid cramming. Try to relax and make a concerted effort to get a good night’s sleep. Tired candidates tend to make silly mistakes on the exam. If you are not rested, you will more than likely miss easy points. This seems like an obvious and trite point, but it is difficult to overemphasize the importance of going into the exam well-rested. If for some unfortunate reason, you do not sleep well the night before, do not panic! It happens to the best of us.
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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.
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