FRM Study Plan & Preparations- November 2016
FRM Study Plan & Preparations- November 2016:- FRM today is one of the most prestigious and rewarding certifications in Finance. It is a challenging and demanding exam covering a range of risk management concepts and issues.
We believe that candidates should begin their exam preparations as soon as they receive their study materials and aim to spend a minimum of 250 hours reviewing the exam syllabus, working through the practice questions and doing the practice exams.
FRM Study Plan
There is no magic, no short cuts but purely dedicated efforts that will get you through. Let’s look at a few points that you could consider including in your preparation for the FRM Part I Exam.
Best Recommended FRM Part I Video Lectures
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:- All About FRM Exam – Preparation Study Materials
Best Recommended FRM Part II Video Lecturesfrm-study-plan
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