I say versus in a very general term, as I am not trying to compare either in terms of content. I have decided to push back the CAIA-L1 to March of 2010 so I can complete FRM in November. I wasnt aware this year was the last full exam year before the changes. I don`t really see the point in waiting to take the FRM, since the price of the new format for exam 1 is higher then the price for the full exam. I do have a question for the masses, if any of you have any opinions. Is it possible to study CAIA-L1 in three months. It seems most people recommend between 150 - 200 hours for CAIA-L1. I wouldnt say quant is my strength, but I am not deficient at it either. Just curious if you think it can be done in that time, or if I should push it back until September. Oh and I am well aware of the arguments for and against obtaining multiple designations. This is a personal choice.
what are the significant changes in the FRM that have lead you to decide to take it this year?
This November will be the last year the full exam is offered. Following this November, the FRM will be split into 2 exams.
Money spinner or legitimate improvement…
@cfacowtown I am planning to take FRM this nov …for similar reasons as you mentioned …btw how much time are you allocating for preps …and have you figured out the reading materials for the exam ? Definitely looks much voluminous that FRM 2008 ,few of my friends who cleared FRM 2008 were of the opinion that atleast 40-50% of FRM 2009 curriculum is new . I am planning to read in the following pecking order Quant (D.Gujrati Ch 1-8),Fixed Income (Bruce Tuckman) and Hull FRM Handbook Schweser notes
Factor hedge Wrote: ------------------------------------------------------- > @cfacowtown > > I am planning to take FRM this nov …for similar > reasons as you mentioned …btw how much time are > you allocating for preps …and have you figured > out the reading materials for the exam ? > Definitely looks much voluminous that FRM 2008 > ,few of my friends who cleared FRM 2008 were of > the opinion that atleast 40-50% of FRM 2009 > curriculum is new . > > I am planning to read in the following pecking > order > Quant (D.Gujrati Ch 1-8),Fixed Income (Bruce > Tuckman) and Hull > FRM Handbook > Schweser notes I have heard that FRM requires minimum 300 hours, but more likely 400. I’m pretty sure i’ll follow the same methodology that I am with the CFA, which is exactly like you layed out: (1) Course Materials (2) Testing (3) Schweser (4) Testing (5) Final Review I am going to try an average around 450 - 475 hours, as I don’t really want to leave it up to chance in failing this exam. If I fail, I will have to take the new exam structure, and the whole reason I am pushing back other courses is to avoid just that. I am going to start my review the third week of June. Have you ordered anything yet? Early registration is coming up soon to.
I havent ordered anything yet ,I am planning to order schweser once its available ,besides I guess GARP have not come up with the AIMS yet ,will register for the exam last week of this month or early next month . Like you even I am planning to put an average 450+ hrs and plan to keep aside sep,Oct for revision ,testing and final review . Have you studying for the exam ? If you have made any study deadlines/plans ,could you please share it ? I am still in the process of starting for the exam Have you registered for the exam ?
Neither have I, I will likely order the materials late may. Schweser has already started pre-orders on the phone for its packages, i’m going to wait until later. You have the same idea as me, I wont register until the week before early deadline expires. My original plan is to leave 2 months worth of revision and testing so I can really drill down on the material. I here its a lot like CFA-L2, which I haven’t taken yet, so in my mind its like preparing for two tests. Although, admittedly, I am only preparing for a small component of CFA-L2 with this process. I am currently studying for CFA-L1 at the moment, so I wont be touching anything FRM related until after June 6th, 2009. After that though I am going to try to complete the first read-through before the end of July, and potentially a second read-through before the second week of September. It’s good to know Factor hedge that someone else is taking this thing when I am. When the FRM forum opens up, we will rip it over there.
Yeah sure !! I am waiting for the FRM forum to be active so that I can get more insights ,Good to know you too …besides I am a Band 10(Fail) CFA L1 ,dec 2008 candidate…couldnt signup for June 2009 due to work commitments …my original plan was to take L1 in Dec 2009 …but now it seems like the chances are bleak …coz it gets too over loaded with FRM in Nov and CFA L1 in dec …may be I need to postpone L1 to June 2010. As of now I am brushing up my L1 quant (Normal dist ,CLT etc) and fixed income …before I start FRM preps .I intend to try and finish quant,Fixed Income and derivatives sections by June and complete one round of full reading by July …keeping July ,Aug for 2nd round of reading + Phillipe Jorion . Your plan looks very decent considering L1 around the corner …all the best for CFA L1 …I guess your FRM preps would help a lot for CFA L2 too
If I where you I would totally push back the CFA-L1 to June. Doing the FRM and CFA-L1 in that time frame seem a little rough, although, i’m sure some people can manage it. I had also thought about writing CAIA in September along with FRM, but I don’t think it would turn out well, and i’d be out 2 tests. I would polish off FRm like nobodies business, that way you are solid for CFA-L1 and even more solid for CFA-L2. Whatever you decide to do, keep me updated.
You are very right ! the main reason for my pusing L1 to June 2010 is the work pressure …long hours in office has become a necessity in this recession …and another reason for not taking it in Dec 2009 is FRM (not very sure incase by aug if i feel confident I may take L1 in dec also) . Besides like you said …if i prepare solidly for FRM …then my quant ,fixed income,derivatives some amt of portfolio management and alt investments will be taken care of for both L1 and L2
@ all… lol I registered for the FRM exam yesterday, primarily due to the change in exam policy… it would end up costing twice as much in both time and money required. Actually works out quite well time wise… L3 CFA exam in June and plenty of time to study for November. CAIA will have to wait until next year.
uejjap Wrote: ------------------------------------------------------- > @ all… lol > > I registered for the FRM exam yesterday, primarily > due to the change in exam policy… it would end > up costing twice as much in both time and money > required. > > Actually works out quite well time wise… L3 CFA > exam in June and plenty of time to study for > November. > > CAIA will have to wait until next year. Good to hear…see you in the forums (if they ever open).
cfacowtown Wrote: ------------------------------------------------------- > Good to hear…see you in the forums (if they > ever open). Heh, hopefully sooner than later! cowtown = Calgary? (boooo flames!! hahahah) << Vancouver 
uejjap Wrote: ------------------------------------------------------- > cfacowtown Wrote: > -------------------------------------------------- > ----- > > Good to hear…see you in the forums (if they > > ever open). > > Heh, hopefully sooner than later! > > cowtown = Calgary? (boooo flames!! hahahah) > > << Vancouver uejjap…there’s really only one response to that; PLAYOFFS BABY!!!
Hi any idea when will schweser come up (usually) with the 2009 FRM study notes ? someone told me that last year they released in july …thats too late .anyway Philiphe Jorion looks good and keeps me occupied till then … @ cfacowtown .how are your L1 preps going ?
I am under the impression that FRM notes come up around June - July, but no exact dates yet. I’ve been checking the website frequently. There is a product availability link on the Schweser site, may be of some use to you. I think you can pre-order. L1-prep is decent so far, got bogged down in quant, ecpecially probability. I really want to have a strong grasp of this quant to build upon for FRM in June.
Its good that you are drilling down on quant ,my L1 experience , it was far easier than expected …however FRM quant is very very dense(I started with quant section) ,a good hold on L1 quant will make your job a bit simpler for FRM …especially the probability,distributions and hypothesis testing. That apart this link - http://www.bionicturtle.com/ will immensely help you also you may wanna look at this article : http://www.bionicturtle.com/learn/article/i_like_to_take_three_passes_through_new_material_frm/
Thanks factor hedge, I have bionic turtle bookmarked from awhile back, great stuff there. I don’t find any of the content hard in quant, I just find it takes me a long time to work through all the examples (i.e., 10 + examples in a chapter @ 5 minutes each…etc). Either way, I feel pretty confident about it. I actually find the whole idea of confidence intervals, kurtosis, and hypothesis testing pretty interesting, so it hasn’t really been that bad.
FRM notes are up, I think I am going to register in the next couple.