FRM 2010

[sadhwanim]

Hi David,

I have been following BT for about a month now and I find your videos great. I am seriously considering FRM in 2010. I am not sure though as to how should I go about preparing for it.
I am an M.A. in Economics and M.S. Finance and I have worked for about 1.5 years in Credit Risk (Statistical modelling on SAS for Basel II). I have been unemployed for the last one year due to some constraints. I want to make full use of my spare time to get the FRM edge.
My questions for you:
1) Will FRM add value to my profile?
2) I have no clue how to go about the preparation. How does BT help me prepare better for the exam? If I sign up for the level I with you, what all do I get access to and how many hours of practice do I require for level 1.
3) Also, I do not possess any readings or any material, how do I arrange for those?

Hope you will have the time to reply to my query and get me out of this dilemma.

Regards
Manisha

 

[David Harper CFA FRM]

HI Manisha,

Thanks for liking the videos...

1. I think so, but I perceive (so far) more anecdotal evidence supporting an intrinsic (learning) as opposed to the external (resume) benefit. I do think an FRM preparation adds to an (intrinsic) foundation in risk due to it's quantitative emphasis on risk practices which tend to be unique; i.e., different than a traditional (CFA) finance cirriculum . In regards to public profile (resume), opinions vary; e.g., on the one hand, see the compelling (IMO) comment on this post that it "fails to convince hiring managers" ; on the other hand, we've *started* to see *some* job qualifications include the FRM whereas five years ago, I don't think I saw any (any way you slice it, that job qualifications have begun to include FRM proves GARP has meaningfully penetrated the marketplace). Clearly, candidate demand is surging ... but as for recruiter appetite, I view that as an open, dynamic question... the next upgrade to our site (2010) adds more support to address this sort of question: it's an important question to which I currently lack a fact-based answer

2. We will definitely do a better job of detailing the 2010 packages, as 2009 has been a unique year vis a vis the first time L1+L2. Our focus is movie tutorials, learning XLS and (frankly) the best practice questions you can find (because I personally write/vet every single one)...the average candidate's buying criteria is quantity of questions (where we make no claims; and it is easy to sell large quantities by reusing) but what they need is quality, relevant questions)...purchase instantly enables you access to the current library, so we'll have a strong offering for new 2010 in terms of immediate access to the 2009 library ...

In regard to 2010, my GARP contact wrote me last week and said, "We expect to have available in early December the AIM Statement, the Study Guide and the Course Packs for 2010."
...so details like "how many hours" will await receipt of that program
...and my advice is: consider waiting to see what GARP releases in Deceber 2009 before deciding your next step

3. GARP will sell a course pack

hope that helps, thanks, David

 

[Aries]

Hi BT,

I am an engineer and MBA in finance. I was working in the Global Portfolio Management team with Citigroup for an year. However I am not working at this point in time. I am considering doing FRM in the mean time. I am keen on seeking certain clarifications regarding the program:

1) When is the next exam likely to be scheduled? Will be it twice a year or only in May 2010?
2) Will both the levels' exams be held simultaneously?
3) What is the level of difficulty?

Would be grateful if you can please clarify my doubts.

Thanks!

Aries.

 

[David Harper CFA FRM]

Hi Aries,

Thanks for visiting...

1) Saturday May 22, 2010 (http://www.garp.com/frmexam/faq.aspx)
2) Yes, as of 2010, both exams L1 and L2 will be conducted on both May and Nov
3) There is no historical track record for the "new" L1 + L2 format, but it is safe to say the FRM will continue to be *difficult* to *very difficult* (more so for those fresh to quant; "quant nerdds" may find easy)

Thanks, David

 

[liewpw05]

Dear David,

Do you have any idea if the Level I 2010 exam will still be based on the 2009 syallabus?


Thanks

Peggy

 

[David Harper CFA FRM]

Hi Peggy,

What GARP told us on the conference call, earlier this year, is: in December they will issue new syllabus (L1 & L2) that applies to May and November 2010 ... and that this begins the "regular" annual update interval (tests twice a year, but syllabus update once per year).

Based on this, the expectation is that December AIMs (that cover both L1 & L2 2010 FRM) will indeed be upgraded (changed), but I don't know to what extent (I am hoping I can provide input that impacts, personally). Thanks, David

 

[hitesh.parwani]

Hi David,

This is Hitesh from India. I am a qualified Chartered Accountant & working with one of the Big 4 Consulting firms.
I am into Assurance services.
I have worked for almost 6 years now (including CA training) with Big 4's into Assurance Services.
Actually i want 2 pursue my career in Financial sector.
So can you please tell me, whether FRM will help me getting into it.
Also whether FRM or CFA, which one to choose.

Regards,

Hitesh