Thoughts on FRM...Input needed.

So as some may know the FRM exam schedule was announced today. The 2009 exam will take place on Nov. 21st, 2009. What is of vital interest though, is that this is the last date on which you can take the full FRM exam, i.e. after this date all subsequent takers will have to take 2 exams, a Level 1 and 2 exam on separate dates. I am taking L2 for the CFA in June and was already debating taking the FRM in the interim period between L2 and L3 or L2 and L2 (in the bad scenario). But now there seems to be even more reason to do this (I really was looking forward to the one test and you’re in that the FRM was offering). So what do you all think? 5.5 months to study for the FRM and then another 6 to study for, hopefully, L3 but maybe L2. Should I do it? I was really wanting to take a vacation after L2 and relax. The recommended study time for the full FRM exam is 300-400hrs (so L2ish). Will I have time to take a vaca (7-10 days) and still get ready for this thing? Or should I just blow it off relax a bit and focus on L2 and later L3 and after I get those done maybe switch to taking the FRM exams? Any input and reasoning is greatly appreciated, especially from anyone else who is thinking of embarking on a similarly retarded path.

adavydov7 Wrote: ------------------------------------------------------- > Any input and reasoning is greatly appreciated, > especially from anyone else who is thinking of > embarking on a similarly retarded path. haha I actually have been thinking about this in the back of my mind but really need to focus on the GMAT in the fall. If I am scoring high on practice exams not too long after L2, I might just bang out the GMAT and might think about something else. The only thing is, I think Risk Management is vital, but don’t want to be labeled as or work as a risk manager (so am I retarded?) - - Does anyone get the FRM and then not pay the fees / flaunt the designation?

hmm this is crazy (I often put too much on my plate) - I don’t think this is a good plan for me - go for it if you can though - I am missing my social life

I am sure if you spend 2 weeks studying half as hard as we do for the CFA that you will score 740 or above. The GMAT is an inherently simple exam with tricks that make it even easier. I too am not planning on being a risk manager, and I think having the CFA designation along with the FRM will help alleviate this possibility. As for taking the exam and not using the designation, I can’t really think of anyone in our industry doing this because everyone is so name-centric (i.e. where did you go to school, get your MBA, what designations do you have etc.). I think there is plenty of time now that I have counted the days between L2 and the FRM and between the FRM and L2(retake)/L3, but I am just trying to figure out if I want to give up the next 15mos. of life after already having given up the last 8 to study for L1 and L2.

I am thinking of the L2 June FRM (Nov) double also. Is the FRM really that hard (for quant minded folks)?

FRM covers a lot of stuff done in Lev 1 and lev 2. So if level 2 is sorted in terms of concepts, it makes FRM very much easier to tackle. I have done my lev1 in december, plan to get done with Lev 2 in june (keeping fingers crossed) and try FRM in November. I am glad I have company on the forum.

Awesome I’m glad I’m not the only one thinking about doing this. The more I thought about it last night the more I m leaning towards taking the exam in November. I think this test is definitely geared more towards quant concepts but is still ultimately limited by the multiple choice format in terms of what they can actually ask. But a lot of the readings are at the L2 quant level or so.

300-400 hundred hours is the recommended study time for the FRM???

Yes for the full exam they recommend 300-400 hours of study time

adavydov7 Wrote: ------------------------------------------------------- > Yes for the full exam they recommend 300-400 hours > of study time Hopefully background knowledge and L2 studying will make this more like 200.

that’s kind of what I am hoping for too

I took FRM after L2. I would say about 150 to 200 hours with L2 under your belt.

I_HeartAccounting Wrote: ------------------------------------------------------- > I took FRM after L2. I would say about 150 to 200 > hours with L2 under your belt. Thanks for that input it is greatly appreciated! Did you pass L2 and the FRM?

Well, can’t tell right now too much indulge in couping with L2 material. Can anyone please confirm if FRM in full is happening for last time this year. I mean from next year, it will have two levels. Is that true?

Yes the November exam is the last time the FRM will be offered as one exam. You can also take just L1 of the FRM this November. After November the full exam will no longer be administered.

adavydov7 Wrote: ------------------------------------------------------- > I_HeartAccounting Wrote: > -------------------------------------------------- > ----- > > I took FRM after L2. I would say about 150 to > 200 > > hours with L2 under your belt. > > Thanks for that input it is greatly appreciated! > Did you pass L2 and the FRM? uummmmmmm… ok failed L2 becuase of “personal” reasons, but passed FRM 1st quartile in everthing expect for quant.

Thanks for the honesty I really appreciate the input I_Heart. Gives me a good data point to base some of my decisions on.

Davydov, I passed FRM in November 2009. My advice is to concentrate on CFA, take GMAT, have a rest or pass CAIA. FRM is not very usefull. It is VERY HARD exam and it is not so useful as CFA. Now I have it and I am not going to use it.

Wow am also considering taking this exam in Nov

I passed FRM in 2008 and now preparing L2. This gives some help on derivatives and quants and enables me to focus on Equity and FSA. Anyone follows the same path as me?