Thank you
20 Nov 2008
Feb
13
About the 2007 FRM Study Package
by David Harper, CFA, FRM, CIPM
FRM | |
"What do I get?"
The FRM study package is designed for the busy professional or student 
who wants help passing probably the toughest global financial certification. The package includes:
- 600+ pages of comprehensive Study Notes. The Notes are organized by Learning Objectives (LO) for easy reference and the notes are recognized for their plain and graphical explanations.
- At least thirty (30+) hours of screencast (video)) tutorials (organized topically with forward/back control)
- Over 400 practice questions. Most of these questions are tough training-type questions, deliberately crafted to fuel your comprehension of testable concepts. Not all question sets are created equally! Unlike some of our competitors, we re-draft questions each year to keep the program relevant.
- We share spreadsheet models. With years of experience successfully helping candidates pass the exam, we know that reading notes alone is insufficient practice. Further, listening to lectures can be insufficient. But spreadsheet models help you interact with important concepts; it is a superior way to learn quantitative methods, option pricing models, Monte Carlo simulation, performance measurement, derivatives prices, just to name a few examples.
Every year we seek improvements and try to add some additional elements. For 2008, that addition will be selected live webinars to review key concepts (calendar to be determined, but certainly to include cram sessions). Any webinars will be totally in addition to the screencast tutorials!
For your convenience, the product is digital: we do not ship any physical product. Specifically:
- The study notes are downloadable Adobe PDF
- The movies are viewable online (requires Abobe Flash)
- The practice questions are also viewable online (requires Adobe Flash)
You do need a high-speed internet connection.
"When do I get it?"
The 2007 FRM Study Notes are published according to the following schedule:
- Section I (Quantitative): Friday, May 18th
- Section II (Market): Friday, June 1st
- Section III (Credit): Friday, June 15th
- Section IV (Op'l etc): Friday, June 29th
- Section V (Investments): Friday, July 13th
Movie tutorials are published every other Friday. The The current movie tutorial schedule can be viewed here or you can view the third column on the about the 2007 FRM page.. Movies are pre-recorded so they can be viewed entirely at your convenience.
"How much does it cost?"
The package costs $299, all inclusive.
Comments
Hi,
I would like to know the following:
1. If I purchase the FRM now, will I have access to 2006 notes (just to start studying now)
2. Do you have any corporate discounts
Thanks
Hi
I would like to start preparing for the exam in April. How should I go about it?
I am finding it difficult to pay for the package. It wont just go through with the PALPAY. Is it because the materials are not yet ready?
How soon do we expect the AIMs? March has almost ended.
Julian,
Apologies for the delay (comments just recently activated).
1. Yes, absolutely, the 2006 materials are currently posted and available. (If you really want to get started, I might recommend doing some test questions)
2. Yes, although the pricing is not enabled. We have a discount for groups of 2 to 4 and a higher corporate discount for 5+ people who work at the same company. We will post that info soon or feel free to contact me at
Hi,
I need to understand the following:
1. Does the course material cater to students who have been away from academics for long. Do the course material progress from basic to advanced?
Hi,
I need to understand the following:
1. Does the course material cater to students who have been away from academics for long. Do the course material progress from basic to advanced?
Roy
Hi David,
Just want to know in case we come over some difficult topics/concepts that we dont understand when we study the materials.
Is there any support from your team, say posting question in the web-site and answer by your expert team or sending queries through e-mails. Thks
Rgds,
Ken
Roy,
We approximately follow the order of the Study Guide (and therefore, the AIMs). We do vary, in some cases, where we can do a basic movie before a more advanced. We did this last year, for example, with delta normal VAR: where the assigned readings weren’t really in a “basic to advanced” order, we reversed them. We do try to think about this - especially within a movie: we bookmark often so, if you don’t need the early material, you can skip to the later.
I hope that clarified. However, the order is primarily a function of the assigned material and, more specifically, the AIMs. The AIMs are what you need to know.
Hi Ken,
In order to keep the costs low, we don’t formally offer guaranteed support (e.g., or office hours). I don’t want to make promises I am not resourced against.
With that caveat: I am going to add a support forum very soon. Because my experience is that queries are manageable. I can also tell you, in the last two years, we did in fact answer all queries. So, we have been able to do this, informally. Also, we try to incorporate queries into the movie tutorials, where we get them sooner rather than later (and especially, the cram sessions at the end are heavily influenced by customer queries; e.g., where are people having a hard time).
Acceptability of Payment method other than electronic. Bankers Draft perhaps ?. TTs perhaps?
Please note that GARP has not yet produced the AIMs (the learning outcomes). They are behind schedule; we were told to expect them sooner. As soon as GARP published the AIMs, we will be able to finalize our Section I Study Notes: we expect to publish Section I Study Notes withing three days of receiving the AIMs.
The rest of the schedule should apply as we certainly expect to see the AIMs within two weeks. Thank you.
Hi David,
Am familiar to you am sure. Please advise as to when are the AIMs expected from GARP? As per your previous year’s experience?
Rgds, Avi.
Hi Avi,
They are overdue, they were expected two weeks ago, according to my GARP contact.
At this time last year, they were published. So, I am not clear on why the delay.
But as I’ve noted, our Section I notes are ready, but we need to check and make sure we have every new AIM addressed. So our Section I notes will published within three days’ publication of AIMs, approximately. Thanks!
Thanks David for your response!
Have mailed you the AIM pdf for your reference. Do advice me further
Warm wishes,
Avi.
Hi David,
Just to let you know the AIMs for the 2007 FRM exam can be found on their website. However, they are available only to exam candidates who have already paid for the exam. I just downloaded my copy of the AIMs.
Regards,
Steven
Steven,
Thank you, we did get a copy. We are publishing the EVT & MCS movie today and the Section I Study Notes tomorrow.
This year’s AIMs (Learning Outcomes) are presented in a very different, and in our opinion, confusing manner. In particular, they are not organized to sequentially match the readings. We are talking with our GARP contacts about their new LO format in the hope of suggesting (and obtaining) clarifications regarding the LOs. For example, some topics in the sample test are not listed among the learning outcomes, and we have asked GARP to reconcile this discrepancy (and to indicate if other LOs have been ignored). We believe that GARP should provide a comprehensive description of the LOs and we are doing our best to help clarify matters.
We are not sure how GARP will hand this yet, based on our conversations with them. We will keep you updated as we learn more. We will publish the Section I Study note as planned, and enter into our regular schedule as of the Section II notes. If they should happen revise the LOs, we will refresh the notes of course to match.
In the meantime, we will err on the side of over-coverage of the material. For example, in regard to EVT we discuss the GEV distribution even though it’s not clear whether a candidate needs to know the particulars of the GEV distribution (e.g., significance of the shape parameter). Our bottom line intent: to cover the testable material without straying too far into untestable areas.
Hey David !
Are solutions / answers given for the 300+ practice questions provided to the students ??
Pls reply..
Regards,
Chintan Dholakia
Hi Chintan,
Yes, of course solutions are given. We redesigned the flash quiz interface to be more convenient, and a working sample will be up on the free page soon.
Please note, per the schedule, the questions are published over time (e.g., Round 1, Round 2, etc). Currently, purchase enables you into access and the “question bank” pertains to 2006.
But we take a little different approach than some: our entire question set is updated specifically to focus on the current year (2007) learning outcomes. We have a laser focus on the test, so we prune and refresh the question set to reflect the current year. (and we participate in crafting questions for the actual exam). Because of this “hand crafted” effort, the questions are deployed in 20 question rounds. We publish the first round (Quant Round 1) next Friday. So, you can see our general idea is, “give us a couple-few hours a week” and we’ll do everything we can to help you pass.
Hello
I am considering this pack over others.
My only question is:
- are the movies/clips only viewable online or can we download them too?
Thanks
Nuno
Hi Nuno,
Thanks for your interest, please avail yourself of samples (notes, movies, question set).
Currently the movies are only viewable online. After we finish the notes schedule, we will explore download functionality. Others have requested, too. I hope to provide it this season, but I cannot promise at this time. I will update on the status as soon as possible.
But again, thanks for your interest.
Dear David
I have looked at KESDEE and BIONIC TURTLE. I like both and the price is only USD1 difference. Please guide me as to which would be the better option between the two packages. What makes your package and study methods the better option. I have access to this email at work, and another email - my personal one at home (redacted)
I have some time to study at work, and will also have time at home, especially weekends, or on line access. I would like to pass the first time, and they have only now dispatched the FRM Handbook.
Yours sincerely
Cynthia
Hi Cynthia,
Thanks for your interest. Because exam preparation will consume so much of your time, I think it is worth spending an hour or two shopping various course providers in depth. The offerings are generally quite different.
The first difference in our approach: every year we carefully update the material to tightly map to the new learning outcomes and the new readings. We could make available all of the questions immediately and recycle prior years’ movie tutorials (and they are on the member page, as archives, for the truly ambitious).
But instead, we redevelop and record every tutorial against the new content. So I would suggest you view any one of the sample tutorials. The same with the questions. We post last year’s archive for the truly ambitious, but we also rebuild a new set for the new learning outcomes. This way we are not splashing you with content you do not need for the test. Our goal is to help customers pass while trying to respect their time. We are the opposite of generic content.
An example of this. Yesterday I was reviewing a competitor’s material. I read their answer to LO 7.1 ("Discuss reasons for the widespread adoption of VAR as measure of risk"). This competitor offers three long paragraphs of valid but generic response (probably from last year’s notes). To the same question, our notes give a shorter yet more complete answer. Our answer is bulleted and tied specifically to this year’s assigned readings (i.e., the latest L. Allen and P. Jorion, in this case). So, we key to testable questions better than generic content. We are the opposite of generic risk curriculum. It would be much easier to recycle but not as useful as updated, *reading-specific* tutorials. We study the sample tests to discern what questions will be asked (and I am submitting actual questions for the actual FRM exam, myself, to the maximum allowable by GARP).
The second key difference is the movie tutorials. These are quite carefully constructed. I am not aware of anyone else going to quite an effort to specialize the screencasts in quite this way.
This year, we are doing a few new things too, like posting interactive spreadsheets (EditGrid and Excel) so that you can practice some of the harder quantitative concepts (e.g., pricing a CDS). We will have those samples up soon. If you look at the sample page, we try to make plenty of samples available so you see what you are getting. And we’ll put more samples up in coming weeks (plus a forum is on the way).
Thanks for your interest.
Great interactive sight! Two quick questions:
1. Do you support Mac Browsers?
2. Can the movie tutorials be viewed more than once on different computers (i.e. home (Mac) and work (PC)?
Thanks.
Hi Davidson,
Thanks for your feedback and for your interest
1. Yes because there is no software. The notes are downloaded Adobe PDF. The tutorials and the questions sets are “browsed” as flash movies: so you do need to have Flash installed (prefer Flash 9) which of course is free .
2. Yes, after purchase you can login from anywhere with username + password
I am very interested in themes treated by your site
Hi I would like a brouchure of the FRM
Thank You
David a ran through your basic quant primer,it was a great learning experience to refesh my basics.
Hi David,
I plan to sit for my FRM Exam in NOV.2008 but want to start getting prepared now in terms of what to read and also using Bionic turtle to take me there.
Where then do I start from as I dont want to use about a year reading and not reading and concentrating on the right issues.
I really need help.
Cheers
Tayo
Hello David
First, its a nice website you have for FRM aspirants! I am planning to sit for the exam this year. However, I am not sure whether I have sufficient time for preparation. I have a Masters degree in Quant. Fin. - so I have a fair idea of the curriculum but my question to you is - whats the level of difficulty of the test and is 3 months manageable to pass the exam? I work in Market Risk at an Investment Bank but lately I have been heavily concentrated in programming.
Thanks
Sai
Hi Sai,
Thank you for the kind feedback.
Many candidates are surprised (shocked) at the difficulty of the exam. It is harder than any of the CFA levels, in my opinion, by a considerable margin. I think for two reasons. One, some are not prepared for the Quant. But with your schooling, this will be no problem for you (e.g., distributions, familiarity with Black-Scholes, credit derivatives are not even really priced - last year you had to value a CDS but that has been removed).
Second, and this is the key thing: it is very broad curriculum even as no one topic is especially deep (e.g., Basel II is reviewed at a principles level, more or less). That’s why even candidates with strong work experience in one area inevitably must prepare diligently for unfamiliar topics.
For your schooling and experience, it absolutely can be done in three months. But of course it requires several hours per week.
The best way to answer this for yourself may be to look at the Study Guide or the learning outcomes. I like to share the learning outcomes because candidates should know what they are getting into.
I prepared this list of learning outcomes (all 588 LOs for 2007). This is EditGrid so you can upload to XLS if you like:
http://www.editgrid.com/bt/frm2007/FRM2007_All_LearningOutcomes
The reason I point you here is so you can size it up. You might look at this and see if you can tackle something like fifty learning outcomes per week. And one other recommendation, firmly held: buy the sample exams and allocate time to practice questions. Any plan must include practice questions. I hope that helps.
Hi David
Thanks for your reply. I have looked at the learning outcomes sheet you pointed and am sure I will use it to track my progress. Next few weeks I should be able to decide if I can take the exam.
I appreciate your assistance.
--Sai
Hi David
Wishing you a Happy New-Year
I am eager to subsribe your FRM package.
Is the price for FRM 2008 same as 2007 & are the videos downloadable.
Thanks
deepanjan
Hi deepanjan,
Thanks for your interest! The price will be $299 for the 2008 FRM, again, at least initially. I frankly plan to raise it later in the year; early birds will definitely enjoy the $299.
Yes, videos were downloadable last year and will continue to be downloadable (+ I am adding ipod format due to requests!)
David
Hi, David:
Once I paid $299, do I have access to all your 2007 videos ? If so, all 2007 movies can be downloaded to my local PC as you mentioned above ?
thanks
Dennis
Hello David,
Do you also provide a CFA prep package?
Dear David,
If I purchase your 2008 FRM exam preparation, do I also need to purchase all de readings named in the study guide 2008 from GARP? Or do your study notes cover all the topics in the readings?
Kind Regards,
Paul Disse
Paul,
The study notes will indeed cover all the topics (Learning Outcomes), as they have in prior years. You don’t *need* to buy the readings and, increasingly, some of my customers have skipped the source in favor of the outlines. However, I still recommend buying and reading the source material, especially if the topics are generally new or fresh to you.
The rationale is repetition; the best repetitive process is something like, read the source, then gain recognition with the notes, then familiarity with the movies, then really “burn in” especially the harder concepts with questions. Every year, some people seem ignore this advice (to actually read the assigned source) and pass anyway, but I don’t encourage this sort of confidence. Thanks for your interest.
Hi, David:
Once I paid $299, do I have access to all your 2007 videos ? If so, all 2007 movies can be downloaded to my local PC as you mentioned above ?
Hi humayunali,
Yes, you have 2007 access (I have customers currently who are reviewing 2007 videos)
However, i do not officially guarantee the 2007 are all downloadable. Yes, we retroactively added a download to all 2007 but, no, it has not been extensively tested. I think they generally work.
Going forward, 2008 early birds and regular sessions have both download and ipod (due to customer requests). The 2008 downloads are more reliable (single self-contained file) and, so for, we haven’t had any issue aside from those on the user-related side. So, I am more confident about the robustness of our 2008 system, frankly. Having said, that, I know many customer have used the 2007 downloads...but i can’t guarantee 2007 downloads because i don’t have resources to troubleshoot if they don’t work for some reason.
Thanks, David
Hi David
I have registered for FRM 08 exams. I ordered scheweser notes and till now they unavailable. My current job not related to risk managment but I am planning to move into risk management. Kindly tell me if I buy your study pack then will it be shiped or only available online (and downloadable). Is it too late to start FRM Prep for Nov 15 exam?
Hi Moazzam,
We don’t ship physical product, all online, most of which is downloadable (I do have -$100 off if you have competitive product and want to supplement).
No, it is hardly to late. Many will start later, in earnest, than now. Key is regular (weekly), disciplined allocation of time. Thanks for your interest. David
Hi David. I ran through some of your videos on youtube and found to be of immense help. I am through with 2 papers of PRM and intend to take and successfully clear FRM this year. I am confused about the cost. Is it $ 299 or $ 399? In the last query you have mentioned that you $ 100 off if you one has competitive product and want to supplement. What do you mean by this? For 2008 are all the videos, notes available already? If not, how things stand?
Hi siddharth,
thanks for liking the vids. $299 is early bird (which expired) or to make affordable to folks who bought like Schweser notes (e.g.). “All 2008” No, but we are far along, see home, samples page. Already into credit risk on movies, and credit risk notes publish soon. Thanks! David
Hi David,
I plan to take the FRM exam in 2009. Is there any way I could enroll may be as an early bird for 2009 in the next couple of weeks. This will give me sometime to learn and prepare for the FRM exam as I have a hectic working schedule..
Thanks
Govind
Hi Govind,
Sure, we like early birds! All we ask is that, prior to exam (the 2008 FRM exam, in this case), you send us a note telling us: I am early bird planning for 2009 (or similarly, if somebody must defer, they can tell us that too - e.g., “I need to defer to 2009"). Since i don’t want people to pay twice if they have a longer term plan/need, i just ask for notice of the plan (as opposed to, after the exam, if someone doesn’t pass, I don’t really freebie them to the next year). Thanks for your interest...David
Hi David,
Thanks for your response…I was going through couple of your videos and I think that you are a great...I would definitely like to enroll in your program for the year 2009…Just a couple of questions..
1. If I enroll now will I able to see your existing videos for 2008, this will really help me understand the concepts better
2. Would you be providing all the required reading material or do I need to buy other text books
3. As I am a Early Bird for 2009, am I eligible for registering for $299.
Thanks
Govind
hi, i am trying to purchase frm2008 with mastercard and there is nothing wrong with the card but i keep getting a message saying pls try a different card. can yu pls assist. tks simon
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