FRM Handbook

[troubleshooter]

Hi: I am not able to understand the purpose of this book. My understanding is that if you read all the GARP assigned course pack readings, you have covered everything you need to know for the test and entire AIMS. Why would you want to waste time reading the FRM handbook ? Am I missing something here ?

 

[David Harper CFA FRM]

NewTurtle -

If you are missing something, I can't say what it is. I have never been able to answer this question sufficiently. Caveat: I have not recevied the new (5th) edition yet, so maybe it is brilliant? The advantage of the FRM handbook is, IMO, that Jorion writes it. He is arguably the best, most precise author among the readings (in sharp contrast to a few of the readings that are not nearly his equal). So, you have something by him that is more recent than the assigned book VaR 3rd edition.

Is it needed: nope. It is meant to be a support. The other theoretical advantage is that it gives you more/additional practice questions. That will be my interest in the 5th edition: are the new practice question within new and improved? If they are not, I will not recommend it. Because in the 4th edition, they were (frankly) terrible, riddled with errors. (this forum is filled with corrections of those, many which served to confuse in the precious weeks before the exam...). So, IMO, the 5th is a question mark, it should be judged on its own merits and I don't have it yet. In regard to the 4th, if you were to peruse our forums I *think* it would be fair to say that, while a few definitely appreciated Jorion's excellent style for summaries, given the confusion engendered by incorrect/irrelevant questions (which jorion in that version did not write, as i understand), that version was clearly *not* required. I haven't gotten any f/back about the 5th yet...

David

 

[David Harper CFA FRM]

NewTurtle

I just received the FRM handbook 5th Edition: I cannot tell the difference yet from the 4th edition, frankly...a lot of it is exactly the same (??!!)...David

 

[liewpw05]

David,

I am also interested to purchase the Handbook. Main attraction is the interactive CD containing the FRM questions. Do you think after reviewing the Handbook, the questions are any good? Or would you think the FRM Practice Questions from 2006-2009 that i have should be sufficient together with the Bionic Turtle questions?

Thank you

 

[David Harper CFA FRM]

Hi Peggy,

I have not yet gone through the 5th Edition practice questions, although I am guessing they overlap (or are essentially drawn from the same population) as the Practice 2006-2009. So, my unvalidated guess is that those questions may not be additive ("CD ROM contains hundreds of multiple-choice questions from previous exams"). I personally would return my 5th Edition if I did not feel I needed it to respond to customer queries: the updates from version 4.0 are not (in my opinion) significant to warrant the price, well, they aren't significant in general....this frankly frustrates me because this $100+ purchase "crowds out" some of our business, and i really would be okay with it, if the time had been spent to update the handbook on a par with the importance of the times (e.g., Basel II, credit crunch)...but given the approach taken, what are the odds the CD-ROM questions were prepared freshly with care? I would put those odds as low!

David

 

[liewpw05]

Thanks, David. Good point. That was very helpful.

I personally think your FRM tutorials are the best value.I would recommend to anyone ,in particular those who are budget conscious in these economic times. So don't worry about the crowding out of your business. Appreciate very much that you have put a lot of thought to make each year's materials relevant and fresh. I also appreciate very much that you have responded very well to last year's feedbacks on practice questions.Plus you are always generous to share lots of "freeware" in your blogs. Keep up the good work!! Your FRM study preparation program seems to get better and better with time.