[nehamanish]

Hi,

I am planning to take the FRM exam this year in Nov, Just finished with my level2 CFA exams.
Wanted to know if 3 motnhs is sufficient for the preparation.

Does anyone have the sweser'07 softcopies and is willing to share it?

Thanks.

[Tumtum]

Hello junta.

I’m well into my first week of Market Risk Measurement & Management (MRMM) and it is truly enjoyable. Alongside I am also learning to use the Texas Instruments BA II+ calculator since BAII+/ BAII+ Professional and HP models are the only ones permitted in the FRM exam. I am frankly happy to see that I don’t have to calculate the Yield to Maturity using the long-winded “trial and error method” and that I can do it just with the click of a few buttons on the calculator.

Leaving aside the BAII+ part, let me tell you that I have been rather slow in studies because of some official work but I have managed to complete the Study notes 1 & 2 in MRMM. While study note 1 is about the general awareness part of why market risk is needed and what is its extent and other such stuff, study note 2 is more specific and talks of Bond Valuation, Yield Curve Fitting, Discount Factors, Estimation of Spot/Forward Rates, Durations, Hedging, Convexity and other such stuff related to bonds. It is indeed a nice read but frankly speaking, the way it has been delivered in Schweser, only a person who has prior understanding or who has studied bond valuation earlier can make sense out of this stuff. Personally, me having done a masters in finance was advantageous because I had to build on the concepts that I learnt earlier.

The next week is going to be even better because I will be doing the major part of MRMM- ie Study Note 3- Derivatives. I intend to complete the entire thing in a week and then move over to study notes 4, 5, 6 & 7. In short, I plan to complete the entire MRMM part by June end- time, family and professional obligations permitting.

My advice for those who are already planning to attack this section first from Schweser- first understand basics of bonds/options/futures/swaps etc and then go reading the stuff mentioned in the Schweser notes. I am sure this will hit the nail on the head and drive home the concepts better.

Secondly, keep on making your notes of the formulae- there are many to be remembered here. It is not as if it is utmost important to remember the formulae but if you do remember, then you will really get a sense of confidence doing the examples and be able to attack any problem in a more easy way- my own personal experience.

I will post more as I progress further. Ciao till then…

[Tumtum]

Hello friends.

I was just talking to Ryan_G11 y’day after reviewing Schweser’s 2007 FRM study material and while the basic material vis-à-vis the 2006 study material is pretty much the same, the major difference is that they have regrouped the material not according to subject-weightage but according to topics, which has its own positives and negatives.

While the positives are that you cover any topic at one go i.e. no fragmented learning the major set-back is that it is extremely misleading. For instance the first book contains Quant and VAR fundas but if you look at their total weightage in the exam, then its hardly 15-18 % combined! Now if a poor fellow spends a month doing that then at the end of a month, he has just finished 15% of the entire curriculum ! Even their study plan is all the more misleading because while they have given a good 700 pages to read, they mention that it can be done only in 2 weeks flat !!!! Is it possible? I honestly think no !

Hence my idea is that it will be better to go subject and exam-weightage wise to complete the curriculum and reap the benefits in the end. Devise you own study plan and stick to it. I am doing the same !

All the best for studying and catch you guys later !

[rajatb]

Originally Posted by Tumtum

Hello friends.

I was just talking to Ryan_G11 y’day after reviewing Schweser’s 2007 FRM study material and while the basic material vis-à-vis the 2006 study material is pretty much the same, the major difference is that they have regrouped the material not according to subject-weightage but according to topics, which has its own positives and negatives.

While the positives are that you cover any topic at one go i.e. no fragmented learning the major set-back is that it is extremely misleading. For instance the first book contains Quant and VAR fundas but if you look at their total weightage in the exam, then its hardly 15-18 % combined! Now if a poor fellow spends a month doing that then at the end of a month, he has just finished 15% of the entire curriculum ! Even their study plan is all the more misleading because while they have given a good 700 pages to read, they mention that it can be done only in 2 weeks flat !!!! Is it possible? I honestly think no !

Hence my idea is that it will be better to go subject and exam-weightage wise to complete the curriculum and reap the benefits in the end. Devise you own study plan and stick to it. I am doing the same !

All the best for studying and catch you guys later !

Has the 2007 material become available in Mumbai ???

My flat mate last year finished the FRM course thru Scheweser in 3 week flat and still managed to pass although he just made it on the edge.
So depends on person to person.

[nehamanish]

Hi Tumtum,

Thanks for the information but I am way too confused.

I would like to know whether the sweser notes are worth buying or not. I heard that the handbook is good enough but it not sufficient, moreover I also heard that the sweser notes are not very good and you have to purchase the core readings..

I am just too confused now.Dont understand where to start from.

Thanks,
Neha.

[Tumtum]

Originally Posted by nehamanish

Hi Tumtum,

Thanks for the information but I am way too confused.

I would like to know whether the sweser notes are worth buying or not. I heard that the handbook is good enough but it not sufficient, moreover I also heard that the sweser notes are not very good and you have to purchase the core readings..

I am just too confused now.Dont understand where to start from.

Thanks,
Neha.

I think you are worrying too much. Go ahead and purchase Schwesers material and I am sure you will sail through. All the best !

[Tumtum]

Originally Posted by rajatb

Has the 2007 material become available in Mumbai ???

My flat mate last year finished the FRM course thru Scheweser in 3 week flat and still managed to pass although he just made it on the edge.
So depends on person to person.

What was his background?

[Tumtum]

Hello all.

Just completed the first portion of Fixed Income Securities Valuation (basic and advanced concepts)- a part of the MRMM study.

I feel I am going very slow but then my professional assignments leave me very little time to run faster than this.

It was like visiting a known place once again as I have studied most of the concepts before while doing MS(Finance) . A lot of formula-based concepts given in the reading. My opinions are as follows….

oA basic reading and an understanding of the concept thoroughly coupled with memorizing the relevant formula and knowing its application in and out on your TI BA2+ will do the trick.

o Remembering formula is always advantageous in case of such topics as it makes life a lot easier.

o Please be sure to make separate notes of concepts involving study of inter-relationships between say for example convexity, duration, yield, coupon etc. You should make kind of chit-notes which you can readily refer to clear a concept of a formula.

o Practice and repeated reading of such topics is really essential or else it is possible that on the exam day you will feel that you know what needs to be done to solve a particular problem but you might not be able to actually do so.


These were my quick thoughts on what my progress is so far. Next section in MRMM- derivatives is what is going to be attacked for next couple of weeks. Lets see how it goes. Will keep all posted. Please pour in your suggestions freely and make it a better discussion.

Regards.

[rajatb]

Originally Posted by Tumtum

What was his background?

IIT B.Tech and almost negligible fin experience..

And boy with the speed which you are going you will be ready to give the exam next month and not in Nov!!

[dushyant bhatia]

Sssup peeps..
Me one of those MBA aspirants who failed to make it in top 10 Bskools this yr... will take CAT in Nov this year.. Was thinkin of takin FRM exam alongside.. Cud u guys guide me as to how to go about it.. I think the last date for registration is in Oct.. But wud like to get a feel of it b4 takin a decesion whether to take it this yr or next yr..
Cud u guys help me know how to register, frm where to get study material etc etc..
Wud be of gr8 help..
Thanx a ton..

Cheerz