2014 FRM Calendar

[frm_risk]

I wanted to confirm that it is possible to register for Part 1 only initially for a certain date and before the registration deadline, register for Part 2 on the same date so as to take both parts on the same date. The GARP website doesn't say anything on that explicitly. The response to my question to GARP was that this is possible and indeed, it is. I just did that.

I wanted to add this here just to remove any doubts from other prospective candidates' minds.

...now to the actual studying.

 

[Bridgett27]

@KSzeto please see Nicole's post from earlier this week https://forum.bionicturtle.com/threads/comparison-of-aims-2014-vs-2013.7466/#post-27592
@nilz not yet, we start next week

Hi David,
I need some help here with the study notes and question sets. I've downloaded and studied some of the notes and question sets but I have a hard time identifying them in my current materials which are for exam in May 2014. I'm currently studying "R8.P1.T2.Miller_300_312_v5" but I couldn't locate the "P1.T2.206. Variance of sample average" anywhere. Does this mean that I missed it somewhere or this material is outside the scope of May 2014 exam?
Your earliest guidance would be most appreciated.

 

[David Harper CFA FRM]

Hi @Bridgett27

Okay right. Please note that document happens to be the next P1 document that will be updated, see https://forum.bionicturtle.com/threads/2014-part-1-published-materials.7593/
... however, it won't be a profound update as this (T2. Quant: econometric) ssection is essentially unchanged from last year

I assume by download you refer to the practice question PDF @ https://learn.bionicturtle.com/frm-...n-set-p1.quantitative-miller-chapters-2-3-4-5
where you will notice at the beginning of the table of contents (page 2):

The major sections are:

Probabilities (Miller Chapter 2)

• Most recent BT questions, Miller Chapter 2 (T2.300 to .302)
• Previous BT questions, Stock & Watson Chapter 2 (T2.201 to .207)

Statistics (Miller Chapter 3)

• Most recent BT questions, Miller Chapter 3 (T2.303 to .308)
• Previous BT questions, Stock & Watson Chapter 3 (T2.208 to .213)
• Previous BT questions, Gujarati (T2.57 to .82)

Distributions

• Most recent BT questions, Miller Chapter 4 (T2.309 to .312)
• Previous BT questions, Rachev Chapters 2 & 3 (T2.110 to .126)

Hypothesis Testing & Confidence Intervals

• Most recent BT questions, Miller Chapter 4 (T2.313 – .315)

Appendix

• Annotated Gujarati (encompassing, highly relevant)

So the PDF document, on page 33 contains "P1.T2.206. Variance of sample average" and at the end of the Q&A, on page 33, is a link to the source @ http://forum.bionicturtle.com/threads/p1-t2-206-varianceof-sample-average.5271/

in case it's not obvious by the TOC, this question is listed in the set subsequent to Miller Chapter 2 because these questions were written for the previous assigned topic of "Probabilities." Because the concepts are essentially the same (from the exam standpoint, there is no key conceptual difference between the last three econometric authors, as far as I am concerned: Gujarati, S&W, Miller). So, we retained the S&W Probabilities question set due to its continued relevance. I hope that explains, thanks!

 

[Bridgett27]

Thanks David. I guess this also explains why I felt that I was running into some practice questions twice... since BT's approach is to repeat questions in various chapter(s) when relevant... correct?

 

[David Harper CFA FRM]

Hi @Bridgett27

Not exactly. Within the Practice Question set (PDF) there should not be any strict repeats/copies (in fact, I have written every single numbered question in our database, over the years, one at a time, totally manually). This T2. Econometrics is quite central so I wrote fresh questions in 2012 (the 200s) and then again in 2013 (the 300s). This year's questions are 400s (201x = X00s), but none of them are in this PQ PDF set. Last year, I wrote Miller questions immediately due to the centrality of econometrics. There should probably be a deja vu "feeling" of similarity, but there should not be any repeats within the PQ PDF set itself. (Chapter 3 actually has three passes, .57 to .82 were written even earlier, such that the topic of "Statistics" has fully three sub-section question sets, each written on a different year but originally).

That said, the PQ PDF sets are the source (actually they are updated from the forum boards below). And we definitely re-use these source PQs into the (i) study notes and (ii) mock exams (and will later this year into online quizzes). In that case, any notes/mock PQ is definitely a copy of a source question in the Practice Question Set. But we try to keep the questions within the Practice Question (PDF) sets "as clean" as possible, without duplication, albeit with cumulative updating it's true. I hope that explains!

 

[ksaqib.ks]

Hi David:

Upon buying the basic package valued at $249 for Part I, how many practice questions would I have access to immediately? Please advise.

 

[Nicole Seaman]

@Khurram,

Thank you for your interest in Bionic Turtle! Because we have so many practice questions available, it would be very difficult to go through each one to figure out exactly how many are available. We try to create practice questions for each GARP reading and there are 79 readings in the GARP 2014 curriculum. This does not mean that we will have practice questions for every reading, but for most of them.

All of our materials are organized in our Study Planner, which you can view HERE. The study planner is organized by Part, Topic and Reading. You can view samples of the materials for each topic if you have not purchased a package yet. This allows you to see the types of materials that you will gain access to after purchasing a package.

We are currently in the process of updating our materials to coincide with the 2014 curriculum. Many materials have already been updated and we will continue updating them until April.

If you have any other questions, please do not hesitate to contact us.

Thank you,

Nicole Manley

 

[David Harper CFA FRM]

@Khurram As Nicole already said, we don't really keep a up-to-date count. We are this year going to add an online quiz (in addition to our mock exams) and, in preparation for that, we have itemized an inventory of 1,436 P1 questions (T1 to T4), so that is a lower bound. But this is the sample of our highest-quality P1 questions only. It excludes maybe 500 to 1,000 of "lesser quality" questions; i.e., mostly older questions. (It also excludes the recent 2014 questions; i.e., we add 12 questions per week, 6 P1 and 6 P2 on Mon - Thursday, you can see these really fresh questions here https://forum.bionicturtle.com/forums/todays-daily-questions.53/). So, I'd estimate about 1,500 very high quality P1 questions and maybe another 500 to 1,000 of lessor/older questions.
(does not include for example, before this May exam, in the next month, we'll update the Hull set to include many more of his own end-of-chapter Q&A, for convenience).

As proud of the quantity of original questions, however, I'm just as proud of the depth (some of ours go deeper and more specific than anybody's) and the relative quality: we've made a lot of errors, but by sharing them to the forum (and having a forum) means that many of them have been stress-tested in forum back-and-forth. Some of our best questions have been tweaked several times by the generous feedback customers have given us, sometimes big errors, but also sometimes just little precisions. I could not imagine deploying a Q&A database any other way, there is simply no other way, in my opinion, to get practice questions into good shape than by "running them through" a transparent feedback gauntlet. I didn't plan for this aspect when I started BT, but sincerely, it is the thing I am most proud of (that customers have actually used them, and discussed them, given customer time is a precious thing). Thanks,