When is the right time to go for FRM (confused) ...

[Hitesh Ajmera]

Dear David

I'm from a science background and going in for a MBA (2009-11), I got to know about FRM certification from a friend of mine a fortnight back, and have been on it since then....searching the net, going thru FRM forums, went thru the study guide of FRM 09 etc.

The thing i wanted to ask you is that ...Is it too early for me to go in for FRM ? , I got study everything from scratch compared to ppl who are experienced or have a some knowledge in the field of finance ....

I know you might say that it depends on my ability etc but still your opinion matters to me.

Thnx in anticipation

 

[David Harper CFA FRM]

Hi Hitesh,

Thanks, it's hard for me to say, and i don't know whether you mean (i) too early in regard to passing the exam or (ii) too early in regard to ROI/getting something practical from the exam?

You are aware of the two-year work experience requirement? Please check...
http://www.garp.com/learn_requirements.aspx?ekmensel=c580fa7b_10_20_128_3

If you mean (i), can you do it at a presumably young age? Generally, the answer is yes. But your aptitude vis-a-vis quantitative methods is key determinant; e.g., I have had customers who struggle greatly with the Gujurati for example. But, beyond that, you can certainly pass the exam, like many other things, it is primarily a function of the preparation. Any way you look at it, it is self-study. Almost anyone can do it, but some may be exposed only to traditional classrooms, and may have a hard time finding the discipline to prepare 200 - 300 or more hours. So, in this respect maybe less about finance and more the "dedication" that is common to many large pursuits

If you mean (ii), will you get ROI? I am unsure. To be candid, I am not convinced a really young student should necessarily pursue: it's a large spend of time and money. It depends on your goals. When I sat for the FRM, frankly, it was not for a career goal, it was for an intrinsic goal: to work the reading list I found interesting. As this was an internal goal, my expectations could be met. But, some might expect a designation like FRM or CFA, for example, to help them "get a job." And, in this respect, I'd be cautious and want to lower your expectations. The FRM (IMO) has started to breach some wider awareness, but it is nowhere near the CFA in recognition, and both are "merely" designations: they complement your portfolio-candidacy. They hopefully distinguish you at the margin, and affirm your affinity for risk, but beyond affirming a baseline competency, I think opinions may vary. But I *personally* would only assign it, currently, a modest role in this regard.

I hope that helps, good luck! David

 

[Hitesh Ajmera]

Hi David

Thnx for that lightning fast reply.....well i meant (i) too early in regard to passing the exam ....

As u know the last date for early registrations of FRM 09 (FULL) is just 2 days away (dont wanna shell out more..as of nw), and i'm not able to make up my mind whether to register or not.....
coz i have put the above question to a few ppl (faculty, FRM holders etc.) ...some said its good to pursue FRM when you have some relevant experience or when u are working...may be after your MBA, that its early for me now....
and some said that there is no harm going for it now.....my knowledge scope will expand while studying for FRM....if i'm dedicated (as u said), i will surely pass the exam etc.
NOW WHAT DO I DO ??
But as u knw... FRM is not an easy nut to crack.....is it advisable to do FRM along with FULL TIME MBA ??

Need your advice on this one david ........ hh:

hope this reply from u make things easy for me :cheese:

Thnx in anticipation

 

[David Harper CFA FRM]

Hitesh,

I am afraid I am not qualified, that does seem like a tough question. I assume this refers to an MBA that is not "integrated" with FRM (actually, unlike PRM, I am not aware GARP has such integration)....

..but, okay, I have to admit that I do *not* automatically see the advantage of sitting for FRM while attending full-time MBA...school on top of school....if it is a Finance MBA, i guess you could argue there is mutually reinforcing, but for myself, here is the thing: the risk cirriculum is quite dynamic (unlike traditional finance), I would myself probabaly prefer to sit for FRM subsequent to MBA, when the study is timely given my career agenda. So, personall, I would not do this, but this it totally "mere opinion"- somebody with experience is better (I don't have an MBA). Sorry - David

 

[Hitesh Ajmera]

God..christ...u r seriously quick......r u online all the time or sumthing ?? u being such a busy person...n such quick replies ..phewww... :wow:

Well coming to the point...i meant MBA not integrated with FRM....and i consider u not recommending me to go ahead with this as of now.....

but dunno somewhere deep down my heart says to go for this thing .......... :red: I will think over it ...........

anyways ...thnx for ur time and super quick replies .........

 

[David Harper CFA FRM]

lol...i just try to reply if i can, while i am working on the next movie tutorial...David

 

[madinthemind]

i have only finished by Bachelors in Finance last year and started working immediately. i will be completing work ex required only next yeat.. But i have still taken the step... I think it will be easier for me to handle the Guajrati type stuff but the rest, i'm depending on working hard (and bionic turtle ) definetely hoping to get through !