FRM Exam and mathematical background

FRM
#1

Hi there,

I am very new to the FRM exam. I am signed up to take the FRM Part I next November. I am only using the actual GARP books material to study for the exam but I am finding very dry and also with a lot of mathematical equation and equation derivation which is hard to follow.

I am wondering of how much of the equation and equation derivation is used for the actual exam. Is is enough to understand the concept and what the equation is trying to say and move on or do we actually have to have all the formulas and the way to derive them to the exam.

I am not very confident is passing the exam but I will take it anyway. It would be helpful to hear your comments especially if you have taken the test already.

Also, if it is worth to buy the Bionic Turtle Tier 2 package for the exam?

Thanks for all the comments and feedback.

#2

You are not required to know the proof, you should how they are used and comprehend the assumptions and outcomes of all the mathematical models.

There are mathematicians who do pure science research, here we are required to get intuitive understanding of how these models are used so that we can link it all to real finance.

#3

You don’t need to understand how to derive the formula, but Part 1 is going to pound you on appliaction and understanding of the formulas. It is way more quantative than CFA in that sense. Part 2 makes the balance, much less quant there.