[andy_jaan]

Purpose of Thread
This thread is an exclusive space for FRM appeared candidates to put down their experiences of both examination and preparation. Goes without saying that both qualified or missed experiences are invited.
Rational
Somewhat like GMAT FRM to is a black box for aspirants, nobody can tell you exact cut-off or threshold to pass. So this thread and experiences posted here on can actually help in creating a rough estimation of the effort required for FRM both before and during examination.
There will also be a poll to collect number of attempts by candidates.
Important
This thread is exclusive for FRM appeared expirience only so please don't post anything other than your experience of FRM here.
For all other discussion feel free to usefollowing thread :-
http://www.pagalguy.com/forum/career...-frm-garp.html (Financial Risk Manager [FRM] by GARP)

Post open for further suggestion/editing....
ANdy
P.S. Suggestions for "poll" on number of attempts and further improvement are invited.

[andy_jaan]

Kick Off Post
Exam Appeared : FRM 2008
Result : passed
Details:
CR : 1st Quartile
MR : 1st Quartile
OR : 1st Quartile
QA : 1st Quartile
IR : 3rd Quartile

Background : Already working in Risk management and Basel domain.
Preparation Time : One month (post Diwali to be honest) :neutral:
Material referred : Well a lot of variety but no coaching or expenditure as such. Relied mostly on cooperative purchases (courtesy PG), photo copies, torrents etc.
Recommended material : Please do a lot of previous exam questions the more the better.
Confidence level Vs attempts :
Paper 1 :
With 100% confidence : 30
With 75% confidence : 15
With 50% confidence : 10
Luck by Chance ! : 15
Paper 2 :
100% : 35
75% : 15
50% : 10
Blinder : 10

General Comments:-
In my opinion it looks that it certainly helps getting a first quartile in at least one of the three top most weighted sections i.e. CR,MR,OR otherwise some of my friends have also passed with none in 1st quartile, but then for them none was in third quartile too.
I haven't seen anybody getting a fourth quartile in any section yet and I doubt if GARP gives that too anyone at all. I mean result analysis are quite incomplete and thus is something GARP needs to work in future to create better brand for FRM (and attract more Indians as we are fond of data and analysis to core).
But am also afraid if GARP has a policy to fail candidate having any section in fourth quartile as my data is biased in terms of selected people being more keen to discuss their position. Thus I would recomend not to leave any section in that bad shape.

Regards,
ANdy

[girishdn]

Well Hats off to Andy 4 ist Quartile is really good result.

Exam Appeared : FRM 2008
Result : passed
Details:
CR : 2nd Quartile
MR : 2nd Quartile
OR : 2nd Quartile
QA : 2nd Quartile
IR : 2nd Quartile

Background : Working in an Insurance Company.
Preparation Time : not much to speak of can be taken as 15-20 days.
Material referred : cooperative purchases (courtesy PG), photo copies, torrents etc.
Recommended material : Please do a lot of previous exam questions the more the better.
Confidence level Vs attempts :
Exam 1 :
With 100% confidence : 35
heads or Tails : 35
Exam 2 :
100% : 25
heads or Tails : 45

well my experience is not too much to speak off since I wanted to defer the exam but could not do so due to missing the deadline. I just appeared casually and could clear only because my lucky coin.
Also I took too much of time for solving the probs which fall under 100% category and was left with 5 mins to mark the remaining answers.

[sameer3]

Exam Appeared : FRM 2008
Result : passed
Details:
CR : 1st Quartile
MR : 1st Quartile
OR : 1st Quartile
QA : 1st Quartile
IR : 1st Quartile

Background : Already working in Investment Management industry.
Preparation Time : 15 days of hard work

Material referred :

• The Core GARP readings (read all of them, once),
• The FRM Handbook (did past questions and basel II portions),
• Practice test from GARP (the one that is free when you register for FRM) Practice test from Schweser
• Recommended material : As above. Maybe try to do a few more practice exam questions.

Confidence level Vs attempts :
Paper 1 :
With 100% confidence : 40
With 75% confidence : 10
With 50% confidence : 10
With 25% confidence : 10
Paper 2 :
With 100% confidence : 35
With 75% confidence : 15
With 50% confidence : 10
With 25% confidence : 10

General Comments:-

• IMO, if you read all GARP core readings once but properly and do their practice exam you should be in a position to clear FRM. However, Basel II etc is very difficult to read so Jorion's FRM Handbook is helpful. Also, a few more practice exams are never harmful.
• The level and type of questions is the same as in the practice exam from GARP. However, they do stress on some current topic like credit crisis in this year's exam. Some questions would be framed around the topic though it may not need much knowledge of the current event to solve it.
• Take a week off from work before the exam, or keep work and other commitments to the minimum in the week. Use it to cram some terms and definitions for that extra edge.

[shrikanthk]

Cleared FRM 2008

QR - 1st Quartile
MR - 1st Quartile
CR - 1st Quartile
OR - 2nd Quartile
IR - 2nd Quartile

Background : Working in a global financial services firm (credit card risk analytics profile) IIMK Batch of 2008 (Fin major)

Preparation : Schweser notes
Had been thumbing them from October onwards.
Regular preparation : Last 10 days
Took Friday off for last min mugging.

Don't recall too much about the exam per se.
Somewhat goofed up the 1st exam by not marking the answer for about half-a-dozen questions due to lack of time.

I think I'm a little lucky to get through with my level of preparation. I know quite a few really good students who couldn't get through with similar prep levels. Also, the difference between a 2nd quartile score and a 4th quartile score in a low-scoring section like OR can't be much.

[neeraj_uchila]

My section wise breakup is as follows

Credit Risk Measurement and Management - 2nd Quartile
Market Risk Measurement and Management - 1st Quartile
Operational and Integrated Risk Management - 1st Quartile
Quantitative Analysis - 2nd Quartile
Risk Management and Investment Management - 1st Quartile

Preparation notes: Schweser
I has also purchased the Handbook and Core reading set which i shared with a friend. Found Schweser to be fairly comprehensive and it covers most of the AIM statements well. But I would advise people to go through the handbook as well as there were a no of questions from which could not be solved if you have just studied from Schweser.

Background: Doing my PGDM-Finance from IMT-Nagpur

Duration of Preparation: Started in September
Was very irregular with my preparation. The daily average prep ranged from half an hour to 3 hours per day. Due to other commitments and laziness i there were gaps ranging from a few days to a couple of weeks where i did not study a single page.
Took a leave of around 10 days before the exam to prepare for the exam properly. I would say this is the period in which i got a good hang of the subject matter.

November 15, 2008.
Did not feel as very much confident about clearing the exam. My aim was to give the exam my best shot and leave the result to fate.

Center: Thakur College, Mumbai

I was surprised by the number of people appearing for the exams. I met some of my friends at the centre and after talking to other people was comforted by the fact that most of them were in the same boat as me.
In the classroom out of the 40 people who were supposed to write the exam 10 did not turn up. The situation was similar in the other classrooms as well.

1st half:
Did fairly well. Was confident of scoring around 45 out of 70.

2nd Half:
I screwed this part big time. Would probably say that i would have scored around 25-30 out of 70.

My 2 cents for future candidates:
- Start early and plan the preparation schedule. Even if you study for just an hour daily it will suffice.
-Solve the practice papers as it gives you a idea about what the real thing would feel like.
-Give it your best shot. You may get a pleasant surprise when the result comes out like I did.
-Prepare every section well. I did not study quant barring a few chapters as i felt that the subject matter was easy. It could have backfired.:snipersm:

Hopefully my experience proves helpfull for you. If you have any queries you can PM me.
Best of luck for FRM 2009 candidates!!!!

[anil84]

Exam Appeared : FRM 2008

Result : passed

Details:
CR : 1st Quartile
OR : 1st Quartile
IR : 1st Quartile
MR : 3rd Quartile
QA : 3rd Quartile

Background : Chartered Accountant (2005).
Currently working with a Mutual Fund. Earlier worked with a Life Insurance Company.
Job profile is fund accounting, debt settlement and MIS reportin...some sort of credit risk related

Preparation Time : I started hitting my head since my registration in march end...
Joined one training instritute in June which I would not call so good experience...they were first timers (I am being modest by not thrashing their No Planning/Time Wastage strategy)
My studies efforts were quite volatile...still I managed to study 40%-60% till october.
I read Investment Management only in last 2-3 days...
I actually had to read everything again in last 14 days...I had to study day & night for last 2 weeks... :neutral:

Material referred : Kya nahi collect aur share kiya...
I started with Core Readings...read little...I liked Market, Credit & Quant modules...Could not understand anything of VaR initially...Didnot touch Investment till october...
So my view on Core Readings is these can not be main source of studies...ya they do support but only after we are clear with basics
I did refer Jorion Handbook 4th edition which I think should be updated this time round as that also is not for beginners...
Mostly I went with Schweser Notes...those are fine & precise summary what will help us crack the exam...
I went for Bionic Videos as well (there are many free videos/screencasts available on youtube)...but he is also good in limits...and I couldnt refer him in details as had to complete reading of Schweser Notes....
And there was training institute also which helped me waste my all sundays till september/october...really I was pissed off as I only used to get sundays to relax/study which I spent in their "so called" nice sessions...I would suggest better invest in one two good books on Quant & others instead of wasting time & money on training institutes...they are good for nothing...

Recommended material : Learn & Practice...In the end one has to refer to suggested study guide so be an early bird...do gain idea about basica asap so that you can devote more time for harder part of these readings...
Schweser Practise questions are not that good...these not at all can be put at par with actual exam level questions...

The Exam Day
I was fine with whatever I could prepare...In the end it was the same situation with all...
First Session was quite good...though I could not manage time well...I thought I am doing decent but it wasn't the case.
Second Session was full of VaR questions...frankly I could not do so well in Market & Quant questions that's why I got 3rd quartile...
I was sure for 80-85. Rest all luck by chance.
General Comments:-
Those who are having time spare and want to add one more certification under their belt...I think better not go for it...
currently I sounds nice to be an FRM but looking at currecnt scenario and even in normal also...If we are not working in relevant field it may prove to be difficult to get good role to deserve this charter...
That's why I feel ...

"Dont just desire for FRM charter...deserve it..." :gunsmilie:

In the end congratulations to all who cleared...welcome to FRM fraternity...



Regards,
CA. Anil Lahoti

[mchulet]

This is a great thread, thanks for starting it. Helps get a proper perspective of exam preparation and reduces stress level :tongue:

[FRM_Dood]

Hi all,

This is a cool thread I've come across.
Congrats to all!!!

I'm an FRM aspirant and I've got to learn a lot from ur experiences.

Thanks a lot n plz be posting in such valuable info.
Adios...

[Biggammar]

So can we say that the handbook and schweser notes will be enough?