Hello, does anyone know a forum like this for the FRM? This forum did a great job for Level 1 (Dec07). I guess I will need something like this for Nov08 FRM…
there aren’t too many people taking the FRM at least for now. Toronto, CFA central only had like 200 people registering for the FRM in November, and 10% did not show up according to a quick head count.
Frank, did you pass the exam?
results are out next week. i believe on 16th. but no, i think I failed. 15% prob. I passed.
Hey, what do you do with an FRM? I ran a Google search and couldn’t come up with any real info. Is the exam for pure risk management people, or for finance people who want to increase their risk management skills?
you can use the FRM certificate in a number of ways. beware, if it gets into the wrong hands, they might use it to wipe their butts.
You put together any combination of P, C, R, A, F, M, I - Frank will take the test.
Actually FRM is very educational. Not sure if it’s recognized but I found it interesting.
I found it interesting, but there was a lot of overlap with CFA L2. The credit and operational risk information didn’t go into enough depth. however, i did study from Schweser which was a mistake. I found the CAIA to be more interesting. I don’t think i’ll be doing anymore formal exams anymore. I’m doing some industry research instead. I find it to be more rewarding. I think i’m lacking in practical knowledge as opposed to theory.
FrankArabia Wrote: ------------------------------------------------------- > I found it interesting, but there was a lot of > overlap with CFA L2. The credit and operational > risk information didn’t go into enough depth. > however, i did study from Schweser which was a > mistake. I found the CAIA to be more interesting. > > > I don’t think i’ll be doing anymore formal exams > anymore. I’m doing some industry research instead. > I find it to be more rewarding. I think i’m > lacking in practical knowledge as opposed to > theory. How about networking and joining finance associations?
former trader Wrote: ------------------------------------------------------- > FrankArabia Wrote: > -------------------------------------------------- > ----- > > I found it interesting, but there was a lot of > > overlap with CFA L2. The credit and operational > > risk information didn’t go into enough depth. > > however, i did study from Schweser which was a > > mistake. I found the CAIA to be more > interesting. > > > > > > I don’t think i’ll be doing anymore formal > exams > > anymore. I’m doing some industry research > instead. > > I find it to be more rewarding. I think i’m > > lacking in practical knowledge as opposed to > > theory. > > > How about networking and joining finance > associations? sure. you got any finance associations i should be aware of joining?
Do you think that the FRM is a nice add-on for the CV? Is it needful for becoming an analyst? (generel business, debt, equity…) At the end of the year I would have master in finance/accounting, CFA Level 1 and maybe FRM…
I thought all of the cool kids were doing PRMIA instead of FRM after the scandal. What gives? Frank?
I thought about taking PRMIA or FRM after reading about them on this forum. But, I’ve spoken to a few heads of risk management divisions at major firms and they hadn’t even heard of the exams. They may be educational, but if they’re not recognized why not just read the books instead of paying for the exams.
the pieces of paper are recognized, but not recognized as the gold seal. Onegin, unfortunately, i’m not one of those stacked cool guys. i’m not taking the PRM. i’m just thankful that I actually passed FRM. you can’t expect to be rich and handsome right?
FrankArabia Wrote: ------------------------------------------------------- > the pieces of paper are recognized, but not > recognized as the gold seal. > > Onegin, unfortunately, i’m not one of those > stacked cool guys. i’m not taking the PRM. i’m > just thankful that I actually passed FRM. you > can’t expect to be rich and handsome right? Me too. I am a traditional, uncool guy who was lucky to pass the FRM exam. Plus, why do you want to take any exam which does not require you to wait for a year before taking/retaking it? 3weeks, CFA
I think the bottom line is that we get an introduction to risk management. I can understand the basics of RM and the issues surrounding its importance. That was fundamentally my objective. getting PRM will not help me whatsoever. if i was considering a career in risk management, I would consider a PHD/Masters in stats or mathematical finance.
Frank - Based on your posts it seems you probably researched PRMIA and FRM before choosing which route to go. I’ve heard there was a scandal at FRM, which lead to the founding of PRMIA. PRMIA seems to have a sh!t ton of conferences and flashy sponsorships. Would you mind sharing some of the reasons that you chose FRM over PRMIA? It seems tough to believe that it was just alphabetical bias. . .
Onegin, i did research PRIMA very briefly so here is why I took the FRM 1) the timing was right. the November date was perfect for my schedule 2) 1 exam. get that done with its over. I hate taking multiple exams 3) Schweser notes were available. I had a lot of faith in Schweser notes prior to taking the exam. 4) no difference to me in terms of FRM and PRM. they both elementary and rather insignificant pieces of paper, but the knowledge offered appeared to be equal. You won’t impress anybody by saying you have PRM over FRM. 5) i have seen more Portfolio Managers with FRM. In terms of the scandal, I can care less. for all I care, someone was sleeping with someone else’s wife and the guy got mad and said GARP was unethical. Its not too hard to repair the damage done to an organization in its infancy. I just wanted to learn more about Risk Management and wanted to find the most efficient of doing it and having something on paper that showed I learned it.
agree to all arguments Frank offered. I see most of the Market Risk Oversight and traders in my bank certified with FRM instead of PRM. Now I would wholeheartedly favor FRM just because I passed it 