PAssed CFA. How can I approach the first FRM hurdle (Part 1)?

Registered for part 1 a while ago, but now everything is cleared regarding CFA results I’d like to start preparing for the FRM part 1 in nov 2017. I got the Schweser books, however still need an action plan.

Expected time im willing to spent: 80 hours. Don’t need a sure pass. Just optimize time spent and have a nice time doing it.

Anybody has proven methods to limit reading the actual text, but still pick op the LOSs in enough detail?

I passed level 1 last year, I didn’t put in a ton of time relatively speaking. I don’t track my hours, but would guess 100-150. I read Schweser as well, it does a fair job summarizing the material. I probably opened the actual books once or twice for a couple difficult topics, but you can definitely get away without even using them. You can pass with just Schweser as many have, but it’s risky. Schweser doesn’t do a good enough job testing you on the actual difficult you will face on the exam. Based on your time line, if I were in your shoes, I would read through Schweser and get a solid foundation of the material and then buy the lowest level package from Bionic Turtle and just hammer the questions along with the practice test from FRM. I scored in the top quadrant for 3/4 topics and second highest on 1/4 topics. I would attribute that primarily to Bionic Turtle practice questions. That is my two cents, I hope it helps.

Same here. Just passed CFA L3 and will sit for FRM part 1&2 in Nov.

I’ll be 6 months behind you. If I may ask… why going for the double whammy?

It’s not a “double whammy”. The CFA is equity focused and qualitative (appropriate portolios) and the FRM is quant focused and credit/rate focused. 3 years from now the question will go from “You have both?” to “Perfect, you have both!”

I understand schuilnaam that he doesn’t think CFA & FRM is a “double whammy” but to sit for part I AND part II on the same day. That’s something that I find interesting and quite challenging as well. So I am curious what overcaffeinated is going to answer and how it is going to prepare for two parts at the same time.

Tbh I considered doing the two parts at the same time, you know, to keep it a challenge. Would probably end my relationship though and in hindsight may 2018 is soon enough since I don’t have two years of work experience by then…

Two parts right after CFA L3… If you pass. please tell your story… I still have trouble hitting the books again. To much complacency haha.

It seems there’s a great deal of overlap between FRM Part 1 and CFA. Besides I’m a full-time student now and have plenty time tbh. Don’t think I can make that much time later and really wanna nail both before turning 26.

Sounds absolutely reasonable to me. And I agree that at least for Part I there is a considerable overlap with the CFA curriculum. There is one thing that came into my mind: You do need some work experience within a specified time (I guess it’s five years to earn two years of experience?). Otherwise you will have to start again with part I. As your are a student right now, you have to be sure to achieve two years in risk management/control within the next few years.

Did you write part1 after clearing CFA? How many hours did you study for FRM?

No, not really right after. I wrote CFA L3 in 2016 and took FRM part I in May 2017. So it’s not really right after clearing CFA.

I can’t really say how much hours I studied. I started in mid January (when Schweser notes were delivered) and finished to read all the books by end of April so that I had time to practice questions in May. Compared to CFA it was much less time I had to spent for learning (and I therefore was able to practice a lot more than for any CFA level). This was partly due to the overlap with the CFA curriculum and partly due to my work experience. Based on the fact that I started mid January I’d say that I might spent between 150 and 200 hrs (I have two kids and I am therefore only able to learn in the evening).

Just FYI, GARP provides exam providers a high level of detail after each exam and one stat is the same day part 1 and 2 takers success rate is low. Part 2 is a beast and there isn’t a lot of overlap with CFA so that’s the candidate killer.

The curriculum overlap pretty nicely between CFA 1 and FRM 1 so I really doubt that you will face any issues. Due to this overlap you will in fact have a better understanding and cover up the topics faster than a newbie taking up this course. Start with Quant/Foundation followed by Financial markets and then Valuations and risk models

6 days to go and 100 mildly motivated study hours later im quite happy with the progress. Been scoring 70% on average for mocks.

The overlap between CFA and FRM part 1 is very helpful, but it is also a bit detrimental for your attention span.

Hoping for a pass and looking forward to start with part 2:)

How are you doing Overcaffeinated?