Changes in FRM 2008

[[email protected]]

Hi All,

specially for all late birds...

I know I am little late in posting this on BT forum...yet it may be relevant for few...

FRM Study Guide changes - 2008 vs 2007​

I have highlighted new added readings...

Damodar Gujarati - Quant
John Hull - Credit Derivatives
Micheal Ong - Portfolios & Loss​

~Anil

 

[David Harper CFA FRM]

Anil,

Thank you, this is really well presented! wonderful...David

 

[David Harper CFA FRM]

I'd like to offer the following note about the *REMOVED* readings (see Column J). If there is a single criticism of the 2008 Reading List/AIMs, just in my opinion, it is that some foundational areas have been omitted. (Of course my materials address this, I refer only to the core reading list). For example, by removing Meissner Chapter 2 (an intro to credit derivatives), the reading list lacks some preliminary setup here (e.g., ISDA defaults triggers, credit spread options).

In that vein, below I list the *REMOVED* readings that (in my opinion) will still be largely relevant (i.e., they will not waste your time). So, these are if you feel ambitious and would like extra reading to reinforce:

Hull: Chapter 19: Estimating volatilities and correlations. Removed b/c 2008 has only the Allen reading. However, this is a better intro to the "math" of MA/EMWA/GARCH/

Jorion: Chapter 9: Forecasting risk and correlations. Contains many testable ideas. Worth your time.

Jorion: Chapter 12: Monte Carlo Methods. Ditto. The assigned reading is Wilmott but note you get about 2 pages on MCS. Not enough! I almost guarantee the test questions will come from Jorion Ch 12.

Allen: Chapter 1 & 3: Introduction to Value at Risk (VaR), Putting VaR to Work. Testable

Meissner: Chapter 2: Credit Derivatives Products: this should have been retained. Setups up credit derivatives. I recommend this.

Meissner: Chapter 4: Application of Credit Derivatives: also recommended because the *application* is what you need to really understand the instruments. best way to make it relevant.

Amenc: Chapter 6: Multi-Factor Models and Their Application to Performance Measurement. Should have been retained. Multi-factor models are thematic (CAPM is just a special case). Recommended.

Marc R. Saidenberg and Til Schuermann, "The New Basel Accord and Questions for Research" I really, really encourage reading this. Basel is a deep, complicated thicket of rules, etc. This is a terrific paper that gives color to several issues that are currently being debated. Helpful context.

David

 

[[email protected]]

Thanks a lot David...

This is what I was looking for...

I had felt the same after looking at GARP's recommended readings. They are only keeping advanced readings.
They are forgetting the fact that people writing the exam are not who are reappearing but mostly the ones who may be new....
May be keeping basic readings will not suit the aim but still I have a suggestion.

They can have two parts of readings.
One CORE readings where they expect candidated to expertise.
And other one as BASIC readings where one can get aquainted with basic concepts.

Its not easy first to identify what sources would prove better - knowledge wise as well as exam wise.
Secondly there are many many sources & dilemma is to choose few out of sea of resources!

Your comments will help a lot.

Thanks,

~Anil

 

[prebhan27]

Hello everyone,
does someone have the GARP FRM exam study guide changes for 2013-2014 and 2012-2013. As I would like to practice with the older practice exams it would be useful to know what changed during the years. As I cannot find them anymore on the GARP webside it would be great, if someone can post them here.
Thanks in advance

 

[Nicole Seaman]

Hello @prebhan27,

We post a spreadsheet each year that analyzes the changes in the GARP curriculum from year to year. You can find the spreadsheet in our announcements section of the forum here: https://forum.bionicturtle.com/threads/2014-2015-curriculum-change-analysis.8198/. This spreadsheet analyzes all of the changes from 2010 to 2015.

Nicole

 

[prebhan27]

Wow, This is an awesome spreadsheet. Thanks so much for that, @Nicole Manley !