FRM P1 preparation so far

Discussion in 'About FRM' started by RiskNoob, Jul 2, 2012.

  1. RiskNoob

    RiskNoob Active Member


    Results for P1 and P2 FRM 2012 May exams will be announced soon ... but at the same time there will be (always) another group of people for upcoming exams and I would like to know how new comers like myself are doing with the preparation for P1 (or P2 or both) exam to share some thoughts. I am hoping not to replicate the existing threads in the forum.

    My background:

    - Bachelor's degree in math in 2008 and have been in IT industry (exchange) for 4 years. Planned taking FRM to switch careers related in risk management. Yes, my quantitative skills are a bit rusty due to my current job so I am trying to polish it again.


    - I have been studying FRM P1 for almost an month. So far I have finished Ch.2 in SW in T2. Plan to bump up my study hours from now on. (Yes, there are so many topics to be covered)

    Study materials:

    - Core reading package from GARP + BT's supplementary notes & pratice questions.

    (Personal) Study methods:

    - Follow 20 sessions from FRM P1 reading plan defined in the practice handbook.

    - Read ALL core readings. Doing this also refreshes my old memory (especially T2, Quants methods in P1) to properly review basic concepts.

    - Read ALL BT's notes (at the same time with core readings) - I think the note's purpose is clear - that is to 'supplement' the existing core readings. I personally found out the notes gave me a confirmation of certain topics after reading the whole core readings (e.g. Financial disasters in T1). If the time is running out in later months I might have to skip some core readings and rely more on the notes.
    Also I skipped some of the concepts I felt fuzzy (e.g. hyp testing and p-value examples in probability review) to be revisited later soon. I found out iterative approach makes more sense.

    - Try to do ALL BT's practice questions - again, there are questions I could not answer due to the involvement from (near) future topics. so I skipped all such questions for now. I felt discouraged to skip 'several' questions at that time but I think iterative approach using divide and conquer would be a good way to consume those concepts one by one.

    In summary, I found out core readings (so far) are quite useful despite the fact that there are some topics (like APT) that went to too deeply and not so relevant to the actual exam. (And the price of the book with luxury shipping cost was quite expensive :() And PQs are great as many others have pointed out.

    Having daily PQs are great, but I think maintaining existing PQs is even more valuable. (e.g. merging and refining PQ from Chaperts Gujarati to SW etc. reflect current FRM scope).

    Wonder how BT folks are doing?

  2. Suzanne Evans

    Suzanne Evans Administrator

    Hi RiskNoob,

    You may also find this forum thread helpful in reference to how much time is recommended to prepare:

    Good luck!

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