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FRM level1 may 2010

bitan

New Member
I am an Engineering graduate in Biotechnology and have taken admission in MBA. I have no work -experience.
I have no idea whatsoever of finance and economics and only heard about FRM a week ago... I am interested in appearing for level 1 next year. And i want to start my preparations now as i need a lot of time to get initiated.....

Fortunately I got a lot of books from college library which contains a substantial amount of the core readings for level 1......

1. Financial management and analysis by Fabozzi...(suggested by a senior as an introduction to finance)
2. Mathematical Statistics and Probability by Saxena and Gupta (It is a standard textbook of statistics in Indian Universities for Graduate and Master Degree students of Mathematics- starts right from tiny tot basics of the subject ). Senior said to do this before touching Gujarati as i have no background in mathematics.
3. Bruce Tuckman 2nd ed.
4. Hull 6th ed.
5. Value at risk 2nd ed.
6. commodity Derivatives by Schofield.
7.Derivative markets by Robert mc Donald
8.portfolio theory and performance analysis by noel amenc
9 Derivatives Markets, Valuation, and Risk Management by robert e whaley
10. Credit Risk Measurement by Lind allen and anthony saunders.
11. handbook of fixed income derivatives by fabozzi

Though a few books are not in core readings but i tallied their contents vis-a-vis the garp 2009 study guide and found that most topics have been covered, except credit risk management, modeling, measurement etc.

Do you think i have sufficient study material to get started for level 1? Do you suggest any modification in the above study material??
 

troubleshooter

Active Member
I seriously think you need to invest in the reading sepcifically prepared for FRM to increase your chances. I have begun with the GARP's course pack.
 

David Harper CFA FRM

David Harper CFA FRM
Staff member
Subscriber
I tend to agree with NewTurtle, to the extent your goal is merely practical (to pass the exam). Although, as you say, your reading list already contains many FRM readings (#3, #4, and #5: those are fantastic starts, you can go right to those. Combine #3 - #5 with Gujarati and you have a solid start). #7 is fantastic (IMO) sort of a alternative approach to Hull. #8 is great but technically more than you need (only Ch 4 is assigned).

Your list, i think, is a great reading list (except i don't know 1 and 2) so maybe (2) is a good setup for Gujarati? Although, with your background, you maybe/probably could go into Gujarati straightaway. The key reason that assigned texts are relevant is the terminology used. Gujuarati's chapters are not novelties but you don't want to add to the learning the additional burden of tracking different terms (e.g., he uses standard error of regression where others will use standard error of estimate. Many terminology details like this)

If it's helpful, during the Early Bird's I posted some reading recommendations:
http://www.bionicturtle.com/learn/article/early_bird_webinar_1_follow_up/
http://www.bionicturtle.com/learn/article/additional_frm_reading_resources_book/
(you probably have calculus already, but increasingly i perceive basic calculus to give a helpful advantage)

David
 
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