Has anyone here tried or heard anyone attempting CFA L1 and FRM at the same time ?
@caterpilar said: hi puys any one giving thought of doing PRM over FRM have done some research found these1) PRM has four papersa) Financeb) Quantc) Risk - fin, ops, creditd) Case studies and ethicsso its easier to target one topic at a time (this no way downgrades the level of difficulty vs FRM, personally i feel this is a better way)2) PRM is cheaper3) PRM is non profit (its evolved FRM itself when some people found FRM is doing it for profit)4) PRM has tie up with many prestigious universities5) Although it is lesser known than FRM but recruiters who know about FRM will know about PRM as well6) FRM is good for people who are out there in risk industry, where as PRM is for those who want to step in.7) Endorsed by top profs like John C Hull etc.what say puys?
You can join here for more networking
3) Does an organization claiming to be non-profit actually make the certification offered more cheaper or better? No
4) Yes - the model with PRM is different
5) FRM and PRM were more geographically distinct in their acceptance till recently - times are still evolving
6) That is only on the base that FRM requires 2 years relevant work-ex for certification while PRM does not. This, in no way decreases the importance of experience. So, if the impression is that a fresher PRM is better than a fresher FRM, my commiserations.
7) Incorrect. PRM is endorsed and headed by Carol Alexander, a very respected name in the industry. Similarly FRM is also headed and endorsed by big names.
Do not base your decision on which is better. Base it on factors like
- Which one will employer reimburse?
- Where are the job opportunities more?
- Which syllabus and structure are you more comfortable with?
- Which one rhymes with your name? 
Neither is better or worse - it is just a perception - both give you knowledge and opportunity - it is upto you to encash that and utilize it with the mix of experience.
@leolazer said:You can join here for more networking3) Does an organization claiming to be non-profit actually make the certification offered more cheaper or better? No4) Yes - the model with PRM is different5) FRM and PRM were more geographically distinct in their acceptance till recently - times are still evolving6) That is only on the base that FRM requires 2 years relevant work-ex for certification while PRM does not. This, in no way decreases the importance of experience. So, if the impression is that a fresher PRM is better than a fresher FRM, my commiserations.7) Incorrect. PRM is endorsed and headed by Carol Alexander, a very respected name in the industry. Similarly FRM is also headed and endorsed by big names.Do not base your decision on which is better. Base it on factors like- Which one will employer reimburse?- Where are the job opportunities more?- Which syllabus and structure are you more comfortable with?- Which one rhymes with your name?Neither is better or worse - it is just a perception - both give you knowledge and opportunity - it is upto you to encash that and utilize it with the mix of experience.
Hi leo thanks for your reply, but I think I am not able to write a few points well, or may be you understood it wrongly, like...
3) I haven't said anywhere that a non profit organization makes it better or cheaper, with non profit i personally feel they are more truer to the cause and concerned for the fraternity than a money making a business.
As PRMIA says we won't charge royalty just because you are successful (its about about mandatory paid membership), just a personal choice its like I will always prefer TATA over Reliance for job, for investment, for products, for referring etc.
Its a long run thing, with whom you want to be associated with.
6) No it does not stems out from the fact that FRM requires workex but from the fact that PRM teaches you fundamentals of the business better than application part and real life problem solving of a risk pro. where FRM does not dwells too much into the basics/understanding of the same but more into the application and real life situation, i think no exam/certification can teach you real life problem solving (which FRM is supposedly good at), it can only be learnt best at first hand, however basics can be very well learned from studies/certification (which PRM is supposedly good at) and further applied to solve real life situations.
7) It is correct - John C Hull has publicly supported for the PRMIA cause.
The reason why i raised my doubts here is I want to understand whether people here have made informed choice about FRM over PRM or is it just that everyone is doing FRM so will I.
@caterpilar said:Hi leo thanks for your reply, but I think I am not able to write a few points well, or may be you understood it wrongly, like...3) I haven't said anywhere that a non profit organization makes it better or cheaper, with non profit i personally feel they are more truer to the cause and concerned for the fraternity than a money making a business.As PRMIA says we won't charge royalty just because you are successful (its about about mandatory paid membership), just a personal choice its like I will always prefer TATA over Reliance for job, for investment, for products, for referring etc.Its a long run thing, with whom you want to be associated with.6) No it does not stems out from the fact that FRM requires workex but from the fact that PRM teaches you fundamentals of the business better than application part and real life problem solving of a risk pro. where FRM does not dwells too much into the basics/understanding of the same but more into the application and real life situation, i think no exam/certification can teach you real life problem solving (which FRM is supposedly good at), it can only be learnt best at first hand, however basics can be very well learned from studies/certification (which PRM is supposedly good at) and further applied to solve real life situations.7) It is correct - John C Hull has publicly supported for the PRMIA cause.The reason why i raised my doubts here is I want to understand whether people here have made informed choice about FRM over PRM or is it just that everyone is doing FRM so will I.
Disclaimer: The fact I hold one or both certifications does not testify that I support one or the other. None of this is to discourage anyone from pursuing the goals of life.
3) Although PRMIA claims to be non-profit, have a look at their membership/exam charges ($905 compared to $1100 for GARP). Similarly the preparation material cost is lesser but by about a 25% margin. For every webinar PRMIA charges $35. Till recently GARP webinars were free! GARP has now started charging (maybe inspired by PRMIA?)
The support being provided to certified members is much more by GARP than by PRMIA - and this is one VERY important factor when one is in the industry.
Btw, do you know that PRMIA sells DVD lectures for preparation of PRM exam for $2520?? I was bowled over after seeing the price. Even schweser CFA videos are cheaper. Is a non-profit organization supposed to do that?
The support being provided to certified members is much more by GARP than by PRMIA - and this is one VERY important factor when one is in the industry.
Btw, do you know that PRMIA sells DVD lectures for preparation of PRM exam for $2520?? I was bowled over after seeing the price. Even schweser CFA videos are cheaper. Is a non-profit organization supposed to do that?
PRMIA runs other programs in addition to PRM and charges a lot for them also.
PRMIA projects itself as a non-profit organization to distinguish itself, but is it actually so? You need to have been in the industry when the break-up happened between the two - it was more of ego clash at the board level!
PRMIA projects itself as a non-profit organization to distinguish itself, but is it actually so? You need to have been in the industry when the break-up happened between the two - it was more of ego clash at the board level!
6) Suggest you have a deeper look at the syllabus of both. Agreed that PRM has topics of very basic math and finance before starting with Risk, and GARP covers the topics more succinctly - but the depth within FRM core readings is amazing and the relevance to the industry is invaluable. I am not saying it is the best, just better!
7) Does it matter? Think. Also consider that John Hull's almost entire book is part of FRM Core Readings !!
I can give you many websites comparing the two... but hopefully you can understand the practical points that I bring to the table.
Like I said take a decision based on other factors - not on which is better.
Sadly, people do not make informed choices - they tend to follow the herd - but you have to decide if you want to be the contrarian in life - if yes - don't do either because the herd for both is increasing
Need more guidance in life? - Get a mentor.
Sadly, people do not make informed choices - they tend to follow the herd - but you have to decide if you want to be the contrarian in life - if yes - don't do either because the herd for both is increasing
Need more guidance in life? - Get a mentor.
hello puys,
I'll be appearing for FRM L1 in Nov 12...i wanted to know whether the schweser material is enough to crack the exam or we also need to go through the core readings suggested by GARP.
Thnx!!
Ok another query to junta here. How much time(hours) does it take to clear FRM level 1 ?
Hi Guys, I have been working in a bank for more than 2.5 years....basically in the branch operations area....i have a engineering background and have recently been transferred to the Treasury Risk Management team of my bank (dont ask me how).....now my question is I'm not from commerce background and have no prior knowledge of all the topics mentioned in the FRM study guide......How do I start preparing for FRM......I have a few doubts so please request active members to help me out.
1. Do we have any library in mumbai, where I can get the textbooks mentioned in the study guides(an online library would be better if someone can suggest one)
2. Should I join the Pristine coaching classes in Mumbai as I have no knowledge and would need help in understanding the concepts (do they teach u from the very basics as they have only 50 hrs of classroom coaching)
3. I want to try and appear for the Nov 2012 exams so please suggest me a preparation pattern
I dont want to look like a fool when I join the Risk Management team, so please help me out
@[390371:leolazer]
@leolazer said:Need more guidance in life? - Get a mentor.
@[390371:leolazer] looks like got one 
Last Day of Early Registration for the November 2012 FRM and ERP Exams is Today.
Make sure that if you are planning or still making up your mind, do it fast - last minute rush on the website is sometimes high!
In case of any help required, PM me.
@leolazer said: Last Day of Early Registration for the November 2012 FRM and ERP Exams is Today.Make sure that if you are planning or still making up your mind, do it fast - last minute rush on the website is sometimes high!In case of any help required, PM me.
got a mail and confirmed with garp website http://www.garp.org/frm/exam-overview/key-deadlines.aspx
- Subject: India FRM and ERP candidates €“ Early Registration is extended
Due to the power outages in India, we are extending Early Registration for India-based FRM and ERP candidates until Thursday August 2 at 11:59 PM EDT. Please email [email protected] or [email protected] with any questions.
Query for those who have already clear FRM L1 - Is Schweser sufficient for preparation ? What other reference material is essential to clear the examination.
@final_attempt said: Query for those who have already clear FRM L1 - Is Schweser sufficient for preparation ? What other reference material is essential to clear the examination.
Suggest you read the posts in this thread... This question has been asked many times and answered.
Try to read through the last few pages - I am sure you will find answers to most of your queries. If you have more specific queries after that, do post.
Hi Puys ,
I had ordered BT videos for Level 1 from Mahakali xerox , Mumbai
I have received 2010 videos and notes ,
are those the ones everyone is also getting .
There are only 15 videos in all , which dont explain the topics in details.
Replies would be appreciated .
Thanks
How much is fees for FRM part 1 ?
@iwantgovtjob said: How much is fees for FRM part 1 ?
visit garp.org, and please don't ask the type of questions you are asking in other threads
@vishalugle said: Hi Puys ,I had ordered BT videos for Level 1 from Mahakali xerox , MumbaiI have received 2010 videos and notes ,are those the ones everyone is also getting .There are only 15 videos in all , which dont explain the topics in details.Replies would be appreciated .Thanks
just return the material and order from Om Books they will deliver you the 2012 material.
@[583829:varunaron]
whats the cost of material at Om books ,
do you have the number
@varunaron said:visit garp.org, and please don't ask the type of questions you are asking in other threads
ok i wont ask anything
@vishalugle said: @varunaronwhats the cost of material at Om books ,do you have the number
Rs 800 for each part, (mobile: 9833591215, 9833851455)
@[583829:varunaron]
@varunaron said:Rs 800 for each part, (mobile: 9833591215, 9833851455)
Thanks
I just called them , I was told the cost is Rs 1000
Have you mentioned the cost including courier charges , I guess the extra cost is for courier