May 2012 Exam Results

[nageshtheone]

So, anywhere around 35-50% passes, although from what I hear GARP received criticism for letting too many pass so they are wanting to bring the number down towards the low end of that range [35-40], but I cannot independently verify that information.
As Wikipedia says, around 25% of candidates pass P1 & P2.

http://en.wikipedia.org/wiki/Financial_Risk_Manager

Historical pass rates
'The FRM exams are considered to be among the most challenging in finance: fewer than 25% of candidates are able to clear both Part I and Part II exams on first attempts '

courtesy - wikipedia

 

[nageshtheone]

25% - Does the GARP site not mention figures of 50-60%
http://www.garp.org/frm/frm-program/about-the-frm-program.aspx

Am I missing something?

Dear friend,

50-60 % is for each part.

Suppose 100 ppl sit for part 1. 50 clear.
Only those 50 are now eligible for part 2. Again 50 % pass rate would mean, only 25 ppl clearing it.

Therefore, overall pass percentage is 25 %.
I feel that it is a simple marketing strategy, show the facts , but focus on the presentation.

If this deduction is displayed by them on their website, they won't get enough aspirants, which is vital to the survival of any association.

 

[FRM_Exam]

All I wanted to say when I put in my posts were that - I don't want FRM giving designations on the expense of increasing their holder base - remm CFA designation has been there for a very long time now - and it will certainly take for GARP to reach similar numbers in the industry.

I have worked and spent more than 400 hours preparing for FRM exams - while at the same time working for a US Based Investment Bank in a role which by default requires long hours of work (more than 12 hrs a day) - not that I want to boast about it (nothing to do so anyways).

I don't want any ABC passing FRM exams just because GARP wants to increase it's presence in the industry by keep chucking in mediocre candidates - they should focus on quality and make it more tougher for ppl to pass the exam (as I mentioned in previous posts - i personally know ppl passing FRM part - 2 exam with an average of 3rd quartile (e.g - 3-3-2-3-3). The market will built itself with the solid reputation and known quality of ppl passing

 

[Hend Abuenein]

To quote a very knowledgable and smart person I work with, who has many years of experience and a very senior level position: "it does not surprise me that the FRM is harder than the CFA, considering all the idiots I've meet throughout my career who are CFA charter holders."

Thank you Aleks...I feel like I'm going to need to quote that someday

 

[Hend Abuenein]

Does a score of 3-3-2-3-3 pass level 2?

I thought you were supposed to score 2 or 1 on half the topics or more?
That's how it goes for level 1.

 

[FRM_Exam]

Does a score of 3-3-2-3-3 pass level 2?

I thought you were supposed to score 2 or 1 on half the topics or more?
That's how it goes for level 1.

Unfortunately those scores are indeed true (infact another person on this forum himself has quoted his scores as - 2,4,3,3,2)- and this kind of makes me mad - not that I am happy for the person who passed - but by the fact that - I expect GARP to be strict with what level they set the pass scores at - so maintain a high standard.

I am a bit disappointed after reading and knowing that candidates with low quarties even passed.

 

[sokano28j@yahoo.co.jp]

If you really want to promote a certification it is essential to have more holders. So, i guess strategically it is enividable.
I guess there is no need to be upset. Realistically, in comparison to CFA, FRM is not visible by any means... No matter how difficult an exam is , it is almost useless if there is no recognition by public. Just to avoid any confusions, my score was 3,2,2,1,1

 

[svasudevan]

To quote a very knowledgable and smart person I work with, who has many years of experience and a very senior level position: "it does not surprise me that the FRM is harder than the CFA, considering all the idiots I've meet throughout my career who are CFA charter holders."

Yeah, the consensus seem to be that FRM is certainly harder than CFA; David Harper mentions that in the above post as well a couple of times during his latest Webinars.

 

[qin841121]

Thinking back, cfa was not that hard compared to frm. Putting frm at 1.5x cfa is reasonable.

After completing this 2 program, I am embarking on CAIA(call me a cert collector). Caia is really quite simple as i only spend one week finishing the syllabus and now I am waiting to take the exam in sept.

 

[Hend Abuenein]

Thinking back, cfa was not that hard compared to frm. Putting frm at 1.5x cfa is reasonable.

After completing this 2 program, I am embarking on CAIA(call me a cert collector). Caia is really quite simple as i only spend one week finishing the syllabus and now I am waiting to take the exam in sept.

Hi...do you think it's wise to go after a certificate just because it's easy?
Shouldn't you have a bigger plan?...for example: what's the ultimate purpose of your education? What are your career plans, and does the certificate under consideration add to it?

 

[qin841121]

Hi...do you think it's wise to go after a certificate just because it's easy?
Shouldn't you have a bigger plan?...for example: what's the ultimate purpose of your education? What are your career plans, and does the certificate under consideration add to it?

Actually in asian context, having a extra cert is better than not having one. You will never know when you need it. Anyway I did not know it so easy until I embarked onto it

 

[jeff-1984]

hey everyone

i guess i am one of the few here who didnt pass level 1
just checked my quartile results i got 3 2 4 2
was i too far from passing?

 

[Hend Abuenein]

Hi Jeff,
I'm sorry you didn't pass.
But I don't think you were far from passing.

I wish you better luck the next time.

 

[jeff-1984]

Hend,

Congratulations, i'm glad all your hard paid off
im gonna retake the exam in november and work on improving the results i got this time
thanks for the support

 

[Jas]

Agree
Someone I know, on another site, quoted that he passed P2 with 2-2-3-4-4 !!

Reiteration - GARP should be concerned about quality. Not only about increasing the base of certificate holders.

Unfortunately those scores are indeed true (infact another person on this forum himself has quoted his scores as - 2,4,3,3,2)- and this kind of makes me mad - not that I am happy for the person who passed - but by the fact that - I expect GARP to be strict with what level they set the pass scores at - so maintain a high standard.

I am a bit disappointed after reading and knowing that candidates with low quarties even passed.

 

[Jas]

Jeff - appreciate that you had the courage to post here that you did not pass and also your quartiles. You are probably one of the few. To your benefit, I believe, you were just one quartile short of passing (based on general responses on this and other sites).

Try to look at it in a manner of feedback. You probably need to work more in the products and foundations area. Maybe derivatives and ethics??

Do not let go of your strength areas, while working more on the areas where you scored less.

hey everyone

i guess i am one of the few here who didnt pass level 1
just checked my quartile results i got 3 2 4 2
was i too far from passing?

 

[Jas]

Wiki is no authority! People like us write it.

Does it work this way? Or...
Let us say that 100 appear for P1 and 100 for P2.
60 pass P1 and 50 pass P2
So total 110 out of 200 - which is 55%

These are additive not independent - maybe independent events for a single individual but additive for the whole population.

If we go your way, CFA result would be approx 35% x 35% x 35% = 4.3% !!!

Dear friend,

50-60 % is for each part.

Suppose 100 ppl sit for part 1. 50 clear.
Only those 50 are now eligible for part 2. Again 50 % pass rate would mean, only 25 ppl clearing it.

Therefore, overall pass percentage is 25 %.
I feel that it is a simple marketing strategy, show the facts , but focus on the presentation.

If this deduction is displayed by them on their website, they won't get enough aspirants, which is vital to the survival of any association.

 

[Suzanne Evans]

hey everyone

i guess i am one of the few here who didnt pass level 1
just checked my quartile results i got 3 2 4 2
was i too far from passing?

Hi Jeff,

I'm sorry to hear you did not pass. Although, please don't lose sight of your goals. Next time you sit for the exam, you at the very least know what to expect. If we can be of assistance during your studies, please do not hesitate to ask.

Good luck next time!

Thanks,
Suzanne

 

[Aleksander Hansen]

hey everyone

i guess i am one of the few here who didnt pass level 1
just checked my quartile results i got 3 2 4 2
was i too far from passing?

Jeff

I admire you for sharing, and I think it's a great idea to sit the exam again.
My recommendation would be to focus on Financial Markets and Products. I say that because knowing that section - and hedging "logic" as well as the math involved well makes the other sections easier; but first and foremost because it is where you got a 4. As annoying as it might be, a 3 would likely have pushed you over to the pass side. I don't remember off the top of my head but I think section 3 and 4 both are given a 30% weight, so from that point of view, increasing your score in that section will have a greater overall impact as to whether you pass or not.

Good luck, and thank you for sharing!

 

[troubleshooter]

I agree with many observation here that GARP may have lowered the bar. Seriously, I was afraid I may not have passed as I was pretty sure of getting 20 out of 80 questions wrong based on a lot of post exam discussions here. But I ended up getting all 1's. That can mean only one thing and that is the passing score must have been very low for me to in the 1st quartile of everything. But it does not really bother me. GARP has more at stake than us to keep both the standard and the membership base at the optimum level.