FRM LEVEL I RESULTS..PLEASE HELP UNDERSTAND WHERE AM I?

Discussion in 'About FRM' started by ismaeltorres2002@yahoo.com, Jul 7, 2011.

  1. I failed.(studied on my own plus I discovered this site late, lolz) ..but, this I got (since I was a goner in FRM I, FRM II is not even checked although I thought Level I was a fair test; Level II was more difficult )

    a) Foundations of Risk Management: basic understanding.

    b) Quantitative Analysis: basic understanding.

    c) Financial Markets and Products: poor understanding.

    d) Valuation and Risk Models: solid understanding.


    Obviously, I need to improve C, but would have I passed with 3 basics and one solid? What is the cut-off? I mean, Does basic-basic-basic-solid would have passed? (BTW, do not get me wrong, it is not like I am a slack...Im trying to figure out a strategy under constrained time for next time)

    M
  2. AG

    AG Member

    To be on the safer side, you must score Quartile 2 or above in all 4 sections....

    GARP acknowledges that Q2 implies good understanding, so they will not fail you if you get Q2 in all 4.

    What do you mean by basic, poor and solid...? are they Q3, Q4 and Q2 resp.

    Also, in Nov2010, the FRM Part 1 pass rate was significantly lower than Part 2 (39% against 55% approx)... So, where it might be possible to clear level 2 with one/two Q3's, it seems infeasible with level 1.

    But don't worry... the only way to get around this situation is to practise, practise & practise... Also solve all questions from GARP's sample papers for the last 4/5 years.... And lastly, I heard BT's question bank is very strong + BT is going to complement its training program with online exams (David, am I right here?).. And BT user's pass rate is also very high (67% or something like that against L1 average of 39%)

    AG
  3. zript

    zript Member

    Hi,

    I just had a look to my results and solid refers to Q2, poor to Q4, basic to Q3

    I agree with AG that you must at least be in the second quartile if you want to pass or if you are in Q3 for one topic, you should be in Q1 for one topic

    just as comparison, I took FRM 1 two times

    first one, I got Q2(FDT), Q3(FP), Q2 (QA), Q2 (VM) -> Failed

    second one, I got Q1(FDT), Q3(FP), Q1(VM), Q2(QA) -> Passed

    FDT : Foundations of Risk Management
    VM : Valuation and Risk Models
    FP: Financial Markets and Products
    QA:Quantitative Analysis

    So IMO if you have 4 Months, focus on Financial Market and Products in the first Month and half (when you do not understand a concept, post a topic in this forum), then the foundation and quantitative analysis in another Month, consolidate your solid understanding of Valuation and Risk Models in two weeks. Do the maximum of sample exams in the 4th Month
  4. Got it... So, it goes sort of like:

    a) Q1= "?"=A
    b) Q2=solid = B
    c) Q3=basic =C
    d) Q4=poor=D

    So passing cut off is B average...for every C an A. What is Q1? "Superb"? Good points, thanks..>Will let you know next time.
  5. zript

    zript Member

    Q1 is Strong not Superb :)

    good luck and let us know
  6. abowen@bbandt.com

    abowen@bbandt.com New Member

    zript, you failed your first attempt with better average quartiles (2.25) than I got this past time (2, 4, 2, 3, so, 2.75), and I passed. I really think the pass/fail determination depends on the top 5% of scores and the curve they apply. And, as I've seen mentioned in other posts, you don't know where you fall in the quartile...

    Using the same "average" logic, Ismael's average was 3, worse than mine, so obviously the cutoff this time was somewhere between his performance and mine...

    Odds are good that if you were to achieve Q2 in each of the sections, you would pass, but I don't think even that is a guarantee without knowing how well the other candidates performed...

    Sorry to be so vague, but studying strategies for this exam kind of go out the window since it's graded on a curve... You simply have no way to gauge how well everyone else will do.

    Best of luck in November!!!
  7. Got it Abowen...this is assuming the same level of preparation of fellows candidates; therefore, you must work to AT LEAST ensure you would got Q2 in the last test...if you are going to retest; and get a little more assuming every time the test is harder and your fellows' are much brighter and better prepared.
  8. hi, my results are as folows ... Foundation of Risk mgt - Q1, Fin. markets - Q2, Q.A - Q3, Risk Val and Modelling - Q1. Passed..
    I believe key was solving the practice questions.. Was a math Champion all my life felt bad after seeing my Q.A grade..

    very happy that i pased in my first attempt..
  9. @Abowen: Also, I think GARP only passed only 39% in Level 1 last time... so I guess the cut off was definitely higher.... And this time around, the cut off might have been lowered, because everyone said FRM 1 was darn difficult...

    However, if one scores Q2 or above in all segments, I think it's very likely (though not always possible) the combined score will be within the top 50 percentile, and may be even better...

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