Credit risk (Schweser book 4) is worth 10% of the exam weight (14 questions). I am short on time and need to start reviewing. I still need to read book 5 (Ops risk and Current Issues). If I skip Credit risk, and aim to get 75% on the areas I do cover, I should be in good shape. Agree/Disagree? Criticisms?
Personally, I’m against skipping an ENTIRE section of the syllabus. If you’re really pressed for time, why not read only the concept summaries from Book 4 and focus on those? You’ll skim off at least the main concepts and should pick up at least a couple questions based on those summaries. Plus, those summaries don’t normally extend beyond 1 page.
You may try read it from Schweser Final Review Guidebook where it is summarized in 38 pages. You may then practice questions on this topic ( concept checkers + shcweser pro). Better than skipping the entire section
Yeah, I hate the credit risk portfolio applications, credit risk, creditmetrics, KMV, etc. No way am I spending time to memorize all of the various distributions, and assumptions of these models.
I’m going to have to do the same, skipping as many sections as I can and focusing on the big picture. I’m struggling to finish book 2… sigh. Book3, then Book5, then to practice questions for the last week.
I won’t skip this topic which is very, very important topic!
excellent… everyone is falling behind - big time 
yay, almost done w/ book2! doing the back questions now… on to b3 soon!
I just finished book 2 and will 26 days to go - reading 3,4 and 5. I am having my doubts whether i should continue with the integrated or move to FRM 1 as they have extended the deadline to the 30th. What do most people think?
i say go all the way and do the full! take a chance.
@Alfie84 - I’m pretty much in the same position as you … 'cept I’m only about 1/4 of the way through with Book 2. I’ve been slacking with studying, but I’m still going all out for the FRM Full. Less than 4 weeks to go - time to get serious. Maybe you can find solace in the fact that there’s at least one person out there that’s behind your progress (me) but is still going for it. Good luck with your preparation!
I am doing the practice exams from GARP. This is not going to be easy. Questions are quite tricky in some spots. Gotta know it inside and out.
Hey Alfie84, I am exactly at the same place as you!!! I finished book 1 and book 2 today lol. I have been pondering the same question… I don’t think the first level is going to be easier than the full integrated exam… Simply because of the time constraint of the exam itself. Since the integrated version cover so much material, questions are most likely not very deep, more theorical, less calculation oriented… And I am afraid the level 1 is going to be more difficult just because of that. Don’t forget it’s the last time we can do this in 1 shot. Are you studying full time or are you working? I’m just studying this non stop until the exam date. No work no obligation. Here is my plan, it should be yours too: PROGRAM For the remaining 25 days: We have 750 pages left (Book 3, Book 4 and Book 5) Study 50 pages minimum per day. If we do this, we will have 10 days left to practice questions… And let’s pray this is going to be enough… What do you think of this plan? You can write me here if you want to study together or at least keep me updated… Maybe it is more motivating if we are exactly at the same place learning the stuff and see who will finish the curriculum first, just in a friendly manner so we get things done lol!!! fsoto@videotron.ca
emphase, may be a good idea for swapping to L1 as GARP must be taking someones to sit the first L2 next year.
Alfie84 Wrote: ------------------------------------------------------- > I just finished book 2 and will 26 days to go - > reading 3,4 and 5. > > I am having my doubts whether i should continue > with the integrated or move to FRM 1 as they have > extended the deadline to the 30th. What do most > people think? I just checked GARP website and the deadline is still October 15th. Where did you see that the deadline was moved to the 30th?
stevelks You think my program is destined to failure for the integrated version? I have full 25 days to cover book 3, book 4 and book 5. I will study at least 8 hours per day. My background is of CFA level II.
Not enough time, in my opinion. The material in these books takes time to absorb well enough to be able to pass the exam. But, good luck…you definitely have your work cut out for you.
I agree to stevelks makes business sense for GARP nevertheless , mainly because those who pass L1 will return to L2 and atleast some of them who fail full exam return to L1 mode . GARP has higher incentive to fail more full exam candidates and pass higher L1 candidates . Anyway I am taking the plunge …full exam
so_fresh Wrote: ------------------------------------------------------- > Not enough time, in my opinion. The material in > these books takes time to absorb well enough to be > able to pass the exam. But, good luck…you > definitely have your work cut out for you. This is something that I’ve also noticed. When you look over the curriculum, you think there is a lot of overlap with the CFA and not that much new, complicated stuff. But as you work your way through the books you learn that most of the overlap is the complicated, tricky quant & valuation material. And all the new stuff is incredibly detailed and complex and takes a long time to really understand and memorize. If you just skim through the Schweser books you think everything kindof sounds the same. You don’t notice the incredible detail unless you really try to understand it. And the Schweser concept checkers are a joke; they are way too easy and there’s just not enough of them. There really isn’t that much in the curriculum that even a CFA charterholder can just easily skip over without having to practice again. I’ve passed all 3 CFA levels and work in the business, yet it’s absolutely not a breeze at all to study for the FRM. But I have to say, I think the FRM is a fantastic program and you can get a lot out of it if you’re willing to put in the time.
I agree with Klarsolo’s comments above. I’ve read through everything once, and am going over everything again (except credit risk, which I am skipping). Alot of what I read initially requires a re-read to fully understand. I am taking notes of key points as well. I am reviewing my notes during my morning and afternoon commute. I’m skipping credit risk because it is worth 10% and has the most AIM statements associated with it compared to all other topics. I heard it’s fairly complex as well. I consider it low bang for buck. I would rather have a full understanding of the other material and play probabilities with the 14 credit risk questions on the exam.