Thanks for the info !! I think I am going to register too.
1 Like
I had to bail on that idea, as the closest test center to me is Surrey, BC. I looked into costs around the time of the test and it is +$600 in airfare alone, which I can’t justify for flying in and out for two days. It took me some contemplation, but I am going to have to drop FRM after all. It looked really interesting but unfortunately, its lack of flexibility and availability really has made me consider taking PRM instead. I did some pretty hefty research and the differences between PRM and FRM in the job market are virtually nill. I am sure both designations are well-respected, I am simply switching to the one who offers me more flexibility. With that said I have registered for the September/2008 CAIA-L1. Just ordered the books as well…the stuff looks very interesting. I am also contemplating ordering schweser notes for FRM, just to read them over, as I wont be able to do PRM until I finish L3 in 2011-2012 (here’s hoping). Good luck fhedge, study hard.
1 Like
Hi I couldnt agree more with you ,given the conditions I guess you have taken an apt decision by not going for FRM .Besides PRM is a good certification ,very rigorous too . I had done some amt of research on PRM too ,wanted to take up after FRM exam since it is flexible and couple of papers overlap with FRM curriculam .However I found PRM to be quant intensive ,also which has a paper on mathematics ,my concern is not quant though but the time it takes for me to put extra bit of effort to read something relatively ‘New’ with Full time work (considering the current market scenario) ,secondly unlike FRM for PRM there are no good study resources available(eg:schweser) ,PRM handbook is quite comprehensive ,but I still have to dig the base readings from the respective textbooks. That apart PRM content is on par with FRM , and well respected in the industry . But why cant you take until you finish L3 (is there any restrictions from any of the body viz CFAI,CAIA and PRIMIA or is it the time/money factor) ? I wish you all the best for CFA L1 and CAIA L1 …but once the FRM forum is open please do participate …coz most of the parts in FRM overlap with CFA L2/ and PRM . I really wish to complete FRM come nov and get back to CFA L1 /L2 forum very soon
1 Like
Factor Hedge, I will be deeply involved in the FRM forum as risk management really does interest me. I only decided on PRM after I realized it would cost me roughly $1000 in travel to the nearest testing center (I am in Calgary, AB)…while PRM is offered here in Calgary. The main reason I chose FRM over PRM to begin with was Schweser and the comments you indicated above are exactly my feelings on this subject. However there are a couple of things that have really changed my mind about FRM after research: 1) There is annual membership fees for FRM, while PRM has none. 2) PRM is more quant driven, and thus is better suited to adding additional qualifications/skills. FRM really attracted me because I am using Schweser and I love it, and so I assumed whichever risk management designation schweser backed had to be the best. Honestly though I am pretty sure they are equivalent in industry recognition and overall are both highly respected. It all comes down to which program is more convenient for you or covers the topics in the way you prefer. My primary weakness is in quant, which is why I want to develop those skills through such programs. You can take PRM whenever you want, but PRM is a 4 test structure. If you have all 3 CFA levels complete,you only have to finish the last two. This also fit in with my schedule as I am writing CFA-L1 in June, CAIA-L1 in September, CFPC in January, CFP in June, CAIA-L2 in September and CFA-L2 the following June (hopefully). This is the last year CFP will be offering the one test format as well, so I thought it was important to get it out of the way. That was my original assumption with FRM, until these latest findings. Wow that was a long post, enough for today.
1 Like
cfacowtown Ohh yes !! PRM has a crossover for charter holders I admire your dedication …It needs a great amount of commitment to be continuously in study mode …besides these certifications will take all or most of free time and a great amount of sacrifices too. Like you my idea of taking FRM was to get equipped with quant …neither intense quant is required for my job …nor I will move towards quant based profiles …coz there are better ppl in quant profiles with PhDs in mathematics/finance ,MFE etc who just looks at certifications like FRM as extracurricular activity I feel left out for not taking CFA this june and probably Dec too .My job demands CFA more than FRM …
1 Like
Personally if your job demands it, I’d do that…
1 Like
Yes I would want to do it too …but I want to do FRM also …
1 Like
That is right, I forgot about that cross-over program. I will have to look into that when PRM gets closer. At the moment it is a fair bit away. Have you signed up for FRM yet? Early registration started and Schweser released the note packs.
1 Like
The notes are for sale, they dont ship til May though?
1 Like
cfacowtown I will be registering in a week or so jcrick are you sure ? why wouldnt they ship till may …any idea ? isnt that too late ?
1 Like
I looked at my receipt and it says ships early May, May til November? Plenty of time…
1 Like
@jcrick thanks for the info , do you also get final review book ? yes there is quite a good amt of time but this time around the readings for the ‘full exam’ has been increased ,besides since its the last time (full exam) the competitions gonna get tougher …relative grading …have you started studying yet ??
1 Like
I’ve not got the schweser books so I’ve not started studying yet no…
1 Like
jcrick any idea why GARP has not yet come up with AIMS ? would that matter anyway ? I feel if I had the AIMS I would be better focused …like CFAI provides the LOS …its much helpful
1 Like
http://www.garp.com/frmexam/studyguide.aspx You can get the info you want here. It looks manageable, will require CFA style discipline. If you’ve signed up for the exam they should be sending you the FRM handbook ed. 5 shortly
1 Like
Jcrick I do have study guide ,but I am looking for specific LOS(AIMS) from every readings ,in the GARP site it says coming soon … Is the registration fees inclusive of FRM Handbook or what ?
1 Like
no its about 100 usd extra
1 Like
I signed for FRM for the same reason…last sitting for the full exam. Is it reasonable to think that it will be relatively harder to pass the exam say compared to the 2008 sitting. A lot more people seem to be signing up for the exam as it is the last sitting and are likely to be more dedicated on average as a lot of them are juggling CFA, CAIA & FRM.
1 Like
I think the competetion is going to be more tougher than 2008 or previous ones if not less and GARP might also lower the pass rates to drag some of them to the new format (this is just my feeling)
1 Like
The passing rate for the 2008 FRM exam was the second lowest since its inception. Whether it will be more difficult or not depend not only on GARP but also the quality and preparation of candidates. FRM is a relatively more difficult exam for non-quant or non-practitioner. In my opinion, the closing door for the old exam format might actually attract many more candidates that might be underprepared or not up to the par…very similar to the CFA level I phenomenon…!
1 Like