Membership 2009

Discussion in 'About FRM' started by sdoshi004, Nov 24, 2008.

  1. sdoshi004

    sdoshi004 New Member

    Hi David

    Thanks for all the hard work and I am all charged up to prepare for 2009 exams after reading all the feedback. As you know I had enrolled for 2008 product with the intention of appearing in 2009. I have attached below our earlier correspondence on this for your reference but unfortunately I missed sending you the official mail on the extension of my registeration to your 2009 product. Would appreciate if you could consider my request for extension of my registration to 2009 product.

    Thanks in advance


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    Sumit Posted: 29 April 2008 03:57 AM


    Total Posts: 18
    Joined 2008-04-27 Hi David

    First of all I would like to thank you for all your responses.

    Need one more clarification

    I am planning to enroll for bionicturtle product. However want to know if suppose, i skip my attempt of NOV08 and decide to give FRM in 2009, will my membership of bionicturtle be automatically carryforward to 2009 or I have to pay extra to continue my membership. I yes, than will it be a fresh membership or is there any nominal charge to continue the membership?

    Your prompt response would be highly appreciated.



    David Harper, CFA, FRM, CIPM Posted: 29 April 2008 02:18 PM [ Report ] [ Ignore ] [ # 1 ]


    Total Posts: 1286
    Joined 2006-09-24 Hi Sumit,

    In general, a purchase applies to the membership year (i.e., current purchases apply to the 2008 FRM).

    I have tried to be fair about two sorts of exceptions:

    (i) If you are going to skip 2008 as part of a longer-term plan to sit for 2009, as you are, then yes, you can pay this year (once) and we will extend you a “two year membership.” Several customers did that last year; for whatever reasons, these (statistically) seem to be our better customers (helpful in the forum), so I am happy to do this.

    (ii) Also, some candidates plan to sit in the current year but unforeseen circumstances/emergencies prevent them from doing so (e.g., they are forced to defer or cancel). In that case, we extend to the following year. If it’s an emergency, I’ll refund. (I did this once last year. I have never yet had to refund out of dissatisfaction)

    All that is required, for either of these, is that you give us advance notice. If you send us one or two sentences (including your email as that is the unique identifier, the email you paid with, so we can match your record in the DB), we will tag your member record accordingly. What does not work for me is to get such a request in November or after the exam.

    As illustration, there are several 2007 BT customers who were retained for 2008 (without any additional payment) simply because they sent us a reasonable request in advance, with a plan like yours. But, I won’t honor current requests to retroactively honor a 2007 membership into the current year (it would reflect the lack of such a plan); I hope the policy is fair in both respects.

    Thanks, David
  2. David Harper CFA FRM

    David Harper CFA FRM David Harper CFA FRM (test)

    Hi Sumit,

    Yes, thanks for attaching the correspondence. At the time we corresponded, I already tagged your record accordingly: so your membership is already set for 2009.

    Thanks for your enthusiasm. I am already working hard on 2009 program (which will formally open in Mid-January). The feedback this year was incredible: I think the BT program will improve noticeably. I am already acting on a lot of the feedback contributed the forum, plus, I am today sending synthesized feedback to GARP.

    Thanks, David
  3. Hi David..

    On the same subject, I had earlier informed through this forum that due to urgent exigencies, I had deferred my exam to 2009.AAccordingly I wish to continue BT for 2009 also. Request youto keep in mind.
  4. David Harper CFA FRM

    David Harper CFA FRM David Harper CFA FRM (test)

    Hi venkat,

    Yes, I know you certainly did. You are good for 2009. I look forward to working with you in the upcoming season!

  5. krose

    krose New Member

    Hi david

    Earlier this year I sent you a mail and a post here on the forum requesting that you extend my membership. I didn't get a reply though so I am not sure if it is OK?

    Thank you for a great site

  6. Hello David

    Thanks for your very earnest reply regaring ur views on online v/s offline coaching. I hv been hibernating for a while and hv lost track of which forum I was here I am as this one appears relevant too.

    I was doing some reading on the net and stumbled upon all the controversy surrounding VaR, did some more reading and the controversy is Really there!! I have started to get a bit apprehensive prudent wud it be to take up a certification like FRM which is structured around a controversial concept like VaR?? wht if the concept is debunked in one yr or five yrs from now due to its "perceived" contribution to the Finacial Meltdown?? in such a case credibility of this certification wud suffer alot....

    I want to know how valid are my concerns....wht are ur feelings?? and wht is the fact??
    looking forward to ur response.....

    Best regards

    Karuna Sharma
  7. David Harper CFA FRM

    David Harper CFA FRM David Harper CFA FRM (test)

    Hi Karuna,

    It's an interesting question. First, the FRM is less about an endorsement of VaR than about a *mere introduction* to the methods employed and their pros/cons; I think of the FRM as an introduction to the toolset. This introduction allows us to see how some critics are mis-informed; e.g., those who belive VaR is necessarily delta-normal (parametric). So, my initial reaction is: the FRM is neither overly-attached to VaR nor does it endorse a particular VaR method. But I do agree that VaR plays a big role. (I personally am not worried about that: VaR is harmless enough and clearly useful as one tool in the box, i don't think it's going anywhere)

    So, second, I think you have the basis for a concern in this respect: in my view, the FRM is merely a broad introduction to the current toolset for *measuring risk.* If, in five years, a better toolset is "discovered," then today's learning could be rendered less relevant or irrelevant. (I am personally not too concerned here either. I think that most advances are likely to build on the current foundation rather than erase it. If I think about the most notable critic, Taleb, I have two thoughts. One, he says nothing that contradits the FRM cirriculum; rather he is above/beyond into an area that cannot be covered by material that attaches to a standardized exam. Two, ironically, his criticism requires his own mastery of what he criticizes!)

    And, third, we just today had a conf call with GARP and I asked
    "how much of the 2009 cirriculum will reflect issues raised by the credit crunch?"
    and the answer was: a lot.
    So, please keep in mind the FRM is also about "what have we learned from the credit crunch" which includes mistakes around the implementation of VaR.

    So, you can see, on the one hand, I think the FRM is very robust (i.e., because it merely introduces a broad toolset) but, on the other hand, I would agree with the basis for your concern but in this respect: because, unlike traditional portofolio theory about returns (theory which has proven quite durable over time), the discipline of risk measurement (a broader set than only VaR) is dynamic and changing rapidly with unproven areas. So the risk is "how long will today's cirriculum be relevant into the future?" To illustrate, probabilistically IMO, the shelf-life of a CFA is longer than the shelf-life of an FRM, by definition, due to the dynamic nature of risk.

    I hope that helps, you ask about the future so of course i cannot give any decent answer!...David
  8. dennis_cmpe

    dennis_cmpe New Member


    I remember reading somewhere that you will have a course in financial / quant math in 2009? Will this still be available?

    Thanks, Dennis
  9. David Harper CFA FRM

    David Harper CFA FRM David Harper CFA FRM (test)

    Hi Dennis,

    No, only my EB Quant primer. Frankly, my recruit for the separate quant fell thru. As I need to focus on FRM, I can only do this if i can recruit somebody qualifed to focus on this. Thanks for asking. David

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