CPierce Wrote: ------------------------------------------------------- > The woman that is the chairman of CFA Chicago has > CFA, CPA, and CAIA Does she have a real job?
-Don’t have to take my word for it, here’s a good article comparing the two programs. http://www.bionicturtle.com/learn/article/cfa_versus_frm_part_2_comparing_exams/
Ako, you heard WRONG. The FRM is difficult but in different ways from the CFA but is not equivalent to L1 of CFA. Copulas, time series analysis (much deeper than CFA) and so on… VaR gets tested in CFA level 3 but in more detail on FRM, also credit risk, operational risk and so on.
cheers for the feedback lads. Am i right in saying this: if you sit level I and level II of the FRM on the same day, your level II paper will not be even graded if you end up failing the first paper (level I)?? So you could have a bad paper for level I but a really good paper for level II, but it wont be looked at…seems harsh
DoubleDip Wrote: ------------------------------------------------------- > Ako, you heard WRONG. The FRM is difficult but in > different ways from the CFA but is not equivalent > to L1 of CFA. Copulas, time series analysis (much > deeper than CFA) and so on… VaR gets tested in > CFA level 3 but in more detail on FRM, also credit > risk, operational risk and so on. I agree. FRM is very different from CFA. CFA is wider while FRM is deeper. With that said, it took me 2 months to prepare for FRM and 6 months to prepare for CFA Level I.
again, has anyone in the real world heard of frm besides the nerdy geeks here on the forum?
hell no to answer your question
get a job and work hard and make more money don’t take too many exams and have too many titles on your business card
None of the risk managers I work with at our pension fund have their FRM. They do have their CFA charters. Small sample size, though!
By the way, I remember there are FRM and also PRM, offered by 2 different organizations but both are about risk management. I even heard from some people that they liked the PRM studying material more. However, it seems like FRM has taken over and no one is talking about PRM anymore. That’s such a shame for the PRIMA people losing to GARP? In the end this is all about those organizations establishing popularity and turn that into their cash cow huh.
PRM is more mathematical, I think. If you pass level 3 of the CFA you can skip the first 2 tests (there are 4 total). also, I believe that there are no annual dues, so it’s a great value.
Personally I think that FRM and CAIA are both rated below CFA and would not add much value to the CV. I would possibly do CAIA for interests sake but found that the exams are very expensive, plus am just sick of paying annual dues (have CA as well).
For ppl interested to pursue career in Risk Mgt., FRM can add some value. But for finance, I believe CFA charter holders pursuing FRM, as stated in one of above posts, may not get anything more but three letters…
Has anyone heard of FRM in the “real world” ? I for sure have not! I think better to take GMAT after this .
I am not here to defend the FRM or detract from it. But as someone who actually IS in the “real world”, I can tell you that YES people have heard of it. I was just at a meeting last week where a Federal Reserve VP, the COO of Morgan Stanley, an MD at some hedge fund, an executive recruiter and a couple of others I don’t remember presented. They all highly recommended the FRM. One attendee asked how he could break out of IT and get a chance in risk management. They told him that a lot of technology skills are needed in risk management, so it’s not as hard as he might think to make the switch, but added that he should consider the FRM to add some credibility. Same reason we get the CFA. Also, at least for the Fed, several of the jobs that I am interested in pursuing list the FRM as a desirable credential. So, if you don’t have it, it’s easy to knock, just as people who don’t have MBAs will disparage them. They just don’t know.
i think half of the stuff in FRM overlaps with CFA so i spent minimal effort (24 hours) of study and passed… if money isn’t an issue (i.e. your company pay) then i dont see why not.
My dog this morning was saying something about sitting for FRM.