Just began FRM Level II from few reference books. I am feeling that FRM Level II will give more pains than FRM Level I.
I don’t understand why GARP has structured the course in this way? It is so difficult to pervade in subject at initial levels and resultant most would be losing interest if they are not well versed with those raw subject matters. Same thing happen with me in Level I but thr I had an advantage of time, had 22 weeks to complete study. Now, I just have 16 weeks (including current week) for May 21, 2016. I don’t know how I will complete but I have no choice than targeting FRM II , May 21 exam.
Can someone here share some idea which can really help…
I am not sure this my post will be relevant after 100 hours of study but as I took up with first look on Market Risk I find course is going to be more tough in reading than what will come in exam. As exam of Part I Nov 2015 was easier (though I did not do great but will state the level of exam was mixed) but still I will say reading for Part I was not so good. I never felt confident that I will pass.
My expectation from FRM was much on front of practical touch in course material or objectives. I don’t want to discuss in Organization that how fatter or thiner will be tails … Finally we need to communicate Risk in more understandable way in our orgaization.
It s a early commentary, I am hopeful and will be happy if someone can correct me! and suggest right way of learning.
I started with Market risk (Tickman) part from GARP. I read ch 11 & 12
I found them so far accepted but BT notes are not well organized to do final review using them before the exam. To write my own notes, it’ll consume time !
Never touched the official books so I can’t comment. Shweser did a pretty good job with the notes. Practice questions are not done well enough to be confident but using GARP current and past practice tests can narrow that gap. So I’d recommend Shweser notes for part 2 for sure. Definetly more material to read though, so be prepared to take notes so you can review them later without reading the whole thing again.
^ As you seem to be CFA holder also, How you will put CFA overall vs FRM overall levels on difficulty scale. I request you to remove bias. Bias in context of evaluating if you have not done CFA prior to FRM or vice versa.
I try to remove that bias, but take it with a grain of salt. I’d say that CFA is harder based the following:
Volume of study: Level 1 = Part 1, Level 2 > Part 1+2, Level 3 > Part 1+2 (give or take). Nothing in CFA or FRM you can’t learn, given you have enough time but the amount of material in CFA is much bigger. FRM topics are also more related, whereas CFA material is much boarder, making study challenging: economics, accounting, bussiness, finance, corporate governance, corporate finance, quant, behavioral economic/finance, ethic and etc.
Passing bar.: CFA is much tougher in that regard. Though FRM exam questions are designed to be more difficult, I believe the passing rate is much higher. Plus you can take exam twice per year with FRM
CFA Level 3 exam format. Essay. Enough said.
If there is a scale, where I put CFA as 10, I’d put FRM as 7 max.
but will state the level of exam was mixed) but still I will say reading for Part I was not so good. I never felt confident that I will pass.
… Finally we need to communicate Risk in more understandable way in our orgaization.