FRM After CFA?

[MBS89]

I just took FRM L1 on Saturday (5/16). I've already passed all 3 levels of the CFA. I'm not going for 'alphabet soup' here, but I've found myself in a market risk management role, so this is purely for the knowledge. I'm curious what % of FRM candidates have already completed the CFA. Trying to handicap my odds of passing...If the candidate pool is like the CFA pool (lots of unqualified people attempting, esp. at Level 1), I'd say I'm pretty sure I passed. But if most people have already passed the CFA, a 40-50% pass rate seems pretty tough. Any thoughts?

 

[ShaktiRathore]

Hi
Not many people i think go for both cfa and frm,therefore there would be not many there would be say 10% of frm l1 candidates who would have qualification as passed all three or two cfa levels. I think your chances are bright given that only few would be of your qualification giving the frm l1 and many are of low qualification as of no cfa or just l1 passed. Certainly you would be at advantage compared to majority of other candidates.
Thanks

 

[BTO]

I am a CFA charterholder. Your chances are good as you would have seen during your preparations, FRM part 1 is essentially a deeper dive into what you encountered in quant topics in CFA (some new topics but I am sure most would have been familiar to you). I think there are overlaps in the candidate pool ( I know few CFA/FRM charterholder and I know FRM charterholder attempting various levels of CFA and vice versa) nevertheless you should be good. FRM part 2 is unique though as there are practically no overlaps in the curriculum (CFA portfolio management overlap a little bit with Risk Management & Investment Management...only a little) . Good luck to you and yo all us BTers!

 

[Parsimony]

Sorry for hijacking a thread here but I am also contemplating taking FRM this November.

I have been researching FRM for a little while and would greatly appreciate the input of those who are experts in it.

Can anyone please guess how many study hours it will take me to pass? I'm under a lot of pressure and can't afford to take this exam unless the number is not too high (but am perfectly happy to not take it, if the prospective number is indeed too high). Profile:

-- Degree in maths/stats.
-- CFA charterholder, passed Level 3 in 2013.
-- 7 years of financial experience (futures, equities, portfolio management)

On a related note, I would obviously be interested to know what is the absolute most efficient way to study. It sounds from what I've read that it would be feasible for me to do little more than watch the Bionic Turtle videos and then work my way through the practise questions on here.

Thanks!

 

[BTO]

It really depends on many factors. How much of the quant/derivatives section of CFA do you remember? Do you have natural affinity for quants/derivatives etc? Given that you are a maths/stat major and you deal with futures in your day to day job, for Part 1 , I will say between 50 - 80 hrs should be sufficient for you. Part 2 is likely to be closer to 150 hrs as it is likely that you are less likely to be familiar with the material. I actually enjoyed Part 2, so made studying for part of it a bit more fun.

Again most efficient study method depends on your personal style, for me I probably watched BT videos at least 4 times (on long commute to work/home and even when jogging) and read schweser notes twice (was very easy to assimilate the concepts after watching and rewatching videos) . BT videos are particularly useful for Part 1 (even the somewhat dated revision videos are useful). Last few weeks of both exams, I just concentrated on GARP & Schweser practice exams + continued watching videos.

My advice, just start and you will find style that suits. Certainly, given your background, Part 1 should be a doodle.

 

[Parsimony]

Hi, thanks a lot for the reply.

I asked a good friend of mine who has both CFA and FRM and he said 250 hours, and with your answer of 200-230 hours I reckon that I have a reasonable estimate. Thanks again. Advice sounds good too.