I’m currently unemployed and I am looking to change gears a little in my career. I passed CFA L1 Dec 2009 took L2 CFA in June I find out results on Monday, July 26. I have a few nibbles on jobs but I don’t think I’ll be working until at least the fall. I’m thinking of taking the FRM either the full exam or just Level I. I have time now to study but if I passed CFA L2 I do want to frontload allot of time to make sure I get through the CFA in June. Am I making a mistake to only try to take 1 part of the FRM or should I just go hard at it and try to take the whole thing? I seem to see most people try the whole exam at once.
I am waiting on the CFA level 3 results. In my opinion, the CFA Level 3 exam is more challenging than level 2. You will need to be tough to prepare for it. As a result, I wouldn’t take the 2 levels of the FRM in November. Take the level 1 to keep the study momentum going, but don’t strech too much because you will need the brain power and energy for level 3. I also think it is too late to start studying for both levels. I am taking level 1 in November. I started studying early this month. There are 1,400 pages (core readings) to study and the material is going to be tested more in depth than level 2 or 3. Good luck!
I’m a level III CFA candidate and will say that the material in the FRM (full) is more intellectually taxing than anything I have encountered in the CFA but I guess it depends on your background. It is a specialist subject rather than the broad brush of the CFA. The pass rates are broadly similar to the CFA as well so it’s no breeze. To do the lot between now and November from a standing start will be a slog - especially if you plan to do the CFA III next June.
Millview - Can you please share how you prepared for the FRM exam? I am using the core readings and Bionic Turtle to prepare. I plan to do the GARP exam and the handbook questions as well a few weeks before the exam. Do you have any additional recommendations? Thanks.
I used Schweser notes. That was it. I worked hard and knew the stuff inside out but I have subsequently seen the Bionic Turtle product and think it is more comprehensive. The Qbank for Schweser provided questions that were much easier than the FRM questions. AFter doing the mocks and the Q bank questions from Schweser and then doing the FRM mock exam I was shocked at the step up that was required. This is not the case with Schweser CFA product or the CAIA product but it is for the FRM. I also watched the Schweser on-line class which I thought skimmed a lot of the stuff that was needed to be known. Frankly I didn’t find them much use compared with the online demos of the Bionic Turtle that I have seen since. I hope that helps
hi, I am a recent graduate (BSc Math/Stats). Can anyone here guide me weather I should attempt FRM part 1 in November or concentrate fully on CFA L2 June 2011. I looked over the syllabus for part 1 and it overlaps with CFA L1 and my undergrad degree. I was considering since some of the material is still fresh in my memory but then I really don’t want tp burn down for CFA Level 2. ( recently passed CFA L1.) thanks
@thegames For what it’s worth, I think your numeracy background will serve you better in the FRM than CFA level 2. You don’t need to be a rocket scientist at CFA level 2 but, having said that, you may need more time to absord the financial aspects and the trickery of the CFA level 2 exam and therefore need to put more effort in on that. December to June should be enough for the CFA but as I mentioned earlier in this thread, the full FRM is no breeze so you’ll need to give it a fair crack of the whip to do all the material you need to cover. The second part of the FRM does require a certain amount of financial knowledge too so there will be a fair bit of study involved there if you haven’t done much other than the CFA level 1 up until now. Hope that is of some use.