Hello,
I just signed up on the AnalystForum. I am in interested in pursuing the FRM designation; however I have a few questions for the veterans of this site. I have been searching forums online (Analyst Forum, Wall Street Oasis, and other Google searches), but I have been unable to find up to date answers
Some background info: I am a CFA Level 3 Candidate (using CFAI materials and Schweser) and a CAIA Level 2 Candidate (used Schweser for Level 1; will use UpperMark for Level 2). I have 3 years PE experience and I studied Finance in college. I took CFA Level 1 in December, CAIA Level 1 in March, and CFA Level 2 in June. I plan on taking CAIA Level 2 in March 2013 and CFA Level 3 in June 2013.
Questions:
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How difficult is the FRM compared to the CFA / CAIA? I know that FRM is more quantitative and more narrow focus, but I would like more info in terms of commitment and difficulty of topic areas.
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As a follow-up question to the one above, how difficult is sitting for both exams in 1 day?
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What is the best study package for both parts of the exam? A lot of people point to BT as the best provider, but I may consider getting Schweser or any other materials as well, if you recommend it.
I am trying to gauge if I have a shot of passing both parts in November if I start studying next week. My job hours will be 7-7 more or less every day, but like for the CFA and CAIA, I am able to study 4 hours a day efficiently.
Thank you in advance for your time and help.
James
Looking at your capacity to absorb, believe P1&2 should be doable together. Till about 2 years back, everyone used to do it - there were no parts!
Unlike CFA, FRM part 1 & 2 cover entirely different topics and are not “levels”. Much of P1 would be a repeat from CFA L1&2 - so that might be easy for you. The Risk portion from P2 would be new and you need to pay attention to that.
That said, FRM is more quant intensive, so be prepared to handle that.
A good combination for study and preparation has been discussed here
http://www.analystforum.com/forums/frm-forums/frm-part-i-forum/91314329
Suggest you to take up BT (for everything except notes) as well as Schweser notes.
Fermion, thanks for your comments. I will look into it and revert back to you if I have any follow up questions. Thanks again!
What should my study plan be? I placed an order for Schweser notes. Can I rely soley on the readings and the BT for everything else? Or do I need to purchase the official GARP readings as well?
BTW - against my better judgement, I signed up for part I and part II. I figured cramming in March CAIA Level 2, May FRM Level 2, and June CFA Level 3 was too much. If you guys could give me a solid and detailed study plan, I would appreciate the help. As I said before, I purchased the Schweser notes and will be ordering BT (videos and questions?) as well FYI for CFA this is what I did for each section 1. Read Schweser and takes notes on relevant sections 2. Schweser Video 3. End of chapter questions 4. Practice questions from Bank Went through this twice and then did mocks and reviews towards the end. Thoughts?