Frm Part 2 Schweser Pdf 149
Rapheal Charlton
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I know that passing level one of a professional certification does not entail a post but if this motivates anyone to try studying then it would have served its purpose. If you are working and married with Kids then having their support in your education is very essential. I was blessed with a supporting family which provided me the push to sit with my books and focus on studies.
Starting Point:- Well begun is half done, so I started my learning journey with finding a training institute and I struck gold with FinTree which made learning simple for me (considering my non finance background). Post which, I followed the plan provided by them with some modifications and it helped me to cover key topics of the exam while still having time to do some mock tests. Below is my plan, and the reason for me to write it down is in the hope that someone might find it helpful. Hence, please feel free to share it or use it as a reference plan if you are planning to take the FRM level 1 exam: Materials: I used GARP Study Materials Financial Risk Manager (FRM) and materials provided by FinTree as primary as supplemented with SchweserNotes for FRM Part 1
Official materials from GARP were the best materials to prepare for the exam. However, these books were mainly collections of GARP required readings and did not connect the dots in topics, information or elaborate on the basic guidance. Thereafter, I decided to use the Schweser books.
Studying consistently: The idea is to spend 1-2h/day every day than to study over the weekend and no study time on the weekdays. Consistency will ensure that your mind is continuously churning the learnt information and thereby avoiding to re-learn.
After every topic, I read the books and then did the practice problems at the end of each chapter. After checking answer key and explanation, I identified what I had missed and re-read them. After finishing each part, I did the Schweser test at the end of each book with time constraints as rigorous as the real test.
Mock exams: I saved the last two weeks to review what I had learned and did mock exams by Analyst Prep, GARP Sample papers and those provided by Fintree. Doing mock tests prepared me for the 240 minutes of actual test.
Above are what I did to pass the FRM level 1 exam. I am more than happy to share my experience and answer any questions related to what I learned. Also, I plan to take the level 2 this year, so if someone has the same plan, we can make a study group.
This all would not have been possible without the support of my Family and Friends. Thanks to Ravi Singh Surana , Tanay Gandhi , Prateek Raghurajan , Hemant Joshi, FRM , Ajay Arora , Ravi Dahiya , Sapna S. and Khushboo Singhal for your guidance and support. Thakns to Utkarsh Jain and Vaibhav for making this learning Journey as Interactive as possible.
The thing that aggravates me about Schweser (and, in all fairness, this really only applies to the FRM since their CFA and CAIA products are truly excellent), is that they spend a lot of time apologizing for the difficulty level of the material, where BT makes no such apologies. The material is what it is and sometimes you cannot simply reduce the dimensionality of the material and still have it be of use for candidates.
I suspect that most FRM candidates that are attracted to this type of exam understand this and are obviously willing to tackle difficult subject matter. The easiness of the Schweser test bank, largely due to avoiding the really difficult stuff, can give a false sense of confidence.
As DOW described, it was a tough exam. I saw many peoples coming of the test center confused and puzzled. I was one of them. Bionic turlte would have been a better choice but timing was an issue for me. Seems as FRM writes very complex questions. I hope I dont have to take it again. Good luck guys.
I felt ok about the exam for a little while, untill I reviewed all the questions and realized that I had to guess quite a few. Overall, I thought most questions were covered in Schweser, I would say there were probably about 10-15 that I had not seen in Schweser practice exams or Q Bank. However, there were maybe another 10-15, that I had seen onle once or twice while doing the practice questions on Schweser and hence did not have enough practice on those questions. I have tried using BT before, but as Destroyer and other people mentioned before, BT is not very user friendly.
My personal opinion is that Schweser is sufficient to make you "pass " FRM exams.I am not in favour of BT mainly because it has some really difficult questions that can demotivate anyone,on top of that you will encounter hardly 10-15 questions in real FRM exams that are comparable to BT questions.I had just 2 months time to prepare for both levels of FRM exams last year so i only prepared using schweser .Did i pass the exams??YES but with average quantiles.
Bionic Turtle is the best in term of video, forum and practice questions. David really has extraordinary approach in FRM training. In fact, I refererred to some of his videos in CFA exam. However, the forum is not very well organized. Schweser materials are rubbish in FRM. The concepts are vaguely explained. If you want comprehensive and structured reading materials then go for PRM handbook.
Bottom line, if you just want to pass FRM exam. Schweser notes alone may be sufficient. If you want to pass FRM with some confidence, Schweser notes and Bionic Turtle videos & questions. If you really want to apply your knowledge in reality, Bionic Turtle + PRM handbook.
"P RM " handbook ? not " F RM hanbook ? I know P RM is another certificate for risk management, but can the " P RM" handbook be used for " F RM" exam ? Please kindly give me your advice in more detail ! Thanks !
In one case, I found an error in Schweser, which I traced back to an error in the FRM material. The original error had been noted by the original publisher, and posted online in a list of errata. Is it too much to expect FRM and Schweser to pick up on this stuff?
I fail to see why Schweser take it upon themselves to preci the GARP books - many of the referenced materials are pretty poor and contradictory. For the CFA, my impression is that they produce high quality, stand-alone material - would it be so difficult to do the same for the FRM??
I passed with little over a months effort. Used knoweledgevarsity videos complemented by core readings. Ratan did a really good job compared to the overrated BT and Schweser. He will go through the toughest section of the curriculum and make it sound easy and obvious.
Kaplan Schweser was founded by Dr. Carl Schweser in 1990, while he was a professor in the college of business at the University of Iowa. Prior to that time, Carl had taught in CFA programs in North America for a number of years.
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