[ruchika24]

tumtum

hi i was also planning tp do frm. but i have come acrossed prm which is coming up very fast.
basically i wanna know why u chosen frm over prm
frm or prm????????????

[Tumtum]

Originally Posted by ruchika24

tumtum

hi i was also planning tp do frm. but i have come acrossed prm which is coming up very fast.
basically i wanna know why u chosen frm over prm
frm or prm????????????

Ruchika.

The reason why many opt for PRM is straightforward…..in PRM you get to give 4 papers separately, you get to choose the day of exam and can complete it as quickly or as slowly according to your work/project deadlines or other personal commitments (you have to give exams at any recognized Thomson-Prometric Testing Center). Also, some techies prefer more quantitative curriculum since they have a strong quant background and would help them sail through PRM easily as it has more of quant part in it. Additionally, many CFAs/ Actuaries/Financial Engineers etc want a risk management certification and PRM grants them exemptions of upto 50% (i.e 2 exams), which is one of the factors behind its rapid growth.

However, if you look at FRM, it is a 5 hour-long 1 single exam held in November every year, very uniform in nature and tests your concepts in-depth. BUT the main factor is that since it is older than PRM, it enjoys a really wide recognition among academic and corporate circles (PRMIA too has caught-up well and formed associations with various universities across the globe). Basically, some people separated from GARP and formed PRMIA 5 years back due to some differences in the ideology of operating GARP.

But all these differences apart, I really liked the curriculum depth of FRM and secondly, I don’t have to slog for 4 exams when I can finish of my certification in one single shot. This factor is especially important to me since I am married and I have to balance my work and family life. All I have to do is an adjustment for 1 exam, which is better than adjusting for 4 exams ! Additionally, FRM is not as heavy on quants as PRM is, which for a non-techie background guy like me is a benefit as I learn only relevant quant concepts that are really needed. Secondly, in my opinion, GARP has not provided any exemptions in a bid to raise its membership, which I see PRMIA resorting to….puts doubts in my mind about PRMIA being too concerned with building members only! Plus, my company is paying me for doing FRM…..need I explain more?

For the events that led to separation of PRMIA from GARP, visit this link:
http://www.fenews.com/fen34/one_time_articles/garp_and_prmia/garp_prmia.html

Hope this clears all your doubts…..remember, whatever you do, do it in the best possible way. All the best!

[Tumtum]

Guys.....an update.....the GARP website states that the next exam is being held on 17th november, 2007. Registration for exams starts March 1 through April 30, 2007 in the "early bird" category. If you don't register in this time period, you will be shelling out nearly $100 more than the early registration fees.

Visit the website for more details !

Regards,

Tumtum.

[Tumtum]

Hello guys,

I contacted the Schweser guys (the company that provides notes for FRM exam prep) and they said that they will be out with the notes by Feb-end/March 1st week.


Since the GARP website clearly states that GARP's Risk Management Handbook is not sufficient, it becomes imperative to scout for Schweser notes.
In case anyone of you needs to purchase these notes, we can pool the resources together- not only for Schweser notes but also for a lot of really exciting exam-related content mentioned in the GARP Digital Library on its website.


Suggestions most welcome.


Regards,

Tumtum.

[unique_1]

hi friends,
nice thread, me too looking for giving FRM this november.
But have some queries ,
what is the sufficient material to study in order to clear the exam,sources(mainly)..ect
secondly,i think i have heard its better to go for FRM after clearing 1or2 levels of CFA(AIMR).
please do share your views on the same.

[Tumtum]

Originally Posted by unique_1

hi friends,
nice thread, me too looking for giving FRM this november.
But have some queries ,
what is the sufficient material to study in order to clear the exam,sources(mainly)..ect
secondly,i think i have heard its better to go for FRM after clearing 1or2 levels of CFA(AIMR).
please do share your views on the same.

Actually many people fall into the trap of comparing FRM and CFA but I don’t think that there is much case for comparison since both the courses are markedly very different from each other. While the CFA focus in Level 1 is all the basics of financial analysis, basics of derivatives, ethics and economics, the Level 2 focuses mainly on financial derivatives and advanced financial statement analysis. Level 3 is more of portfolio management and a good part of derivatives….all in all the focus is on financial analysis and fund management as far as CFA is concerned.

On the other hand, a look at the FRM curriculum states that areas such as operational risk management, financial risk management, credit risk management, legal risk management- all in all management of all kinds of RISK is the priority of FRM. So if you have done L2 of CFA, it might help you in a limited area of study – eg derivatives and all but other than that, I don’t see CFA really helping a person who wants a dedicated career in risk management. For that FRM becomes the God!

Hope you are clear now.

[venkat85]

HI,

I am working in Chennai. Is there any coaching by Kaplan in chennai.

Is there any possibility of group preparation?

Pl advise.


With regards

[Tumtum]

Originally Posted by venkat85

HI,

I am working in Chennai. Is there any coaching by Kaplan in chennai.

Is there any possibility of group preparation?

Pl advise.


With regards

Hi Venkat !

The "Schweser" notes (I was mentioning this in my previous posts) is nothing but Kaplan notes (Schweser is a Kaplan group company). It has many kinds of course packages. If you opt for the best one (and the costliest one) then you will get pre recorded lecture CDs too. You can then learn at your own pace, whether you are in Chennai, Mumbai, Dubai or any other place on this planet !

Regards,

Tumtum.

[ajain1975]

Hi Guys !!
Wanted to check whether we can do joint preparation of FRM exams 2007. Do any one know some gud faculty in Hyderabad who can help in this exam ?

[jayalakshmirame]

I want to know where can we get the Schweser notes in Chennai. I want to join for Nov 2007 Garp exam.

Jaya