Financial Risk Manager [FRM] by GARP

hey all,

I will be joinin a consulting firm after my MBA...was wondering if FRM could help me in some way...as in financial strategy is another domain which is being handled by consultants...so doin FRM wud help me or is it just like another certi...btw am in 2nd yr now

Thanks
T..


Depends on what kind of consulting firm your company is.There are some boutique Risk Management consulting firms where it may make sense to do the FRM but I don't know the case with your firm.
Better you work there for a year and then decide weather to do the FRM.

HEY GUYS...REPOSTING MY MSG COZ NOONE REPLIED...SOMEONE PLEASE REPLY QUICK BECAUSE ITS REALLY URGENT FOR ME...GIVEN THAT THE EXM IS ALSO NOT VERY FAR AWAY

I talked to the Laxmi copy center guy in Mumbai regarding the material needed for the FRM exam. He suggested the following:

1. Buy Schweser notes + Jorian Handbook 4th edition: said that most ppl buy this combo
(Rs. 1500 + 700 + delivery charges)

OR

2. Buy core readings only (Rs. 1500 + delivery charges)

Could someone please tell me what material to buy (i.e. what will suffice) for the November exam??

Hello friends.

A quick update- I just finished VaR and with it the entire part of Market Risk Measurement and Management (MRMM). It took me too long I must admit. The 3 major parts in MRMM are

Fixed Income Valuation
Derivatives
VaR

Arguably, many might have studied the first 2 but VaR is the lengthiest of the three and some chapters such has Simulation Methods and especially Monte Carlo Simulations etc have been explained very poorly. However I have not gone the extra mile to read them up from elsewhere since I did not have any spare time to do so. For anyone whos doing the VaR part for the first time, I think it should be done from the core readings first and then through Schwesers.

Secondly like I have always maintained, be sure to read Derivatives part from Hull and get them clear. I have not been able to do that to my satisfaction frankly and will be doing it in depth once I sit for revision.

About Fixed Income part- those who have not done it before, please be sure to understand concepts such as Duration, its applications, Convexity and its applications and various interrelationships of interest rates, duration, convexity, coupon rate etc very very thoroughly. Most question are bound to emanate from these concepts.

Otherwise, MRMM is pretty straightforward and concentrated efforts can help you clear it off in one month max.

I have now begun with the Credit Risk part and I anticipate that it will take a good 3 weeks after which I will attack Quant and Investment Management part. Lets see how events unfold as I am totally crushed by the workload and this earnings season seems like an unending affair.

Feel free to ask for any clarifications on MRMM. Take care and happy reading to all !
Hello folks

I began reading on Credit Risk a couple of days back and I found the readings pretty enjoyable and could relate to them since they talk about collateralized products, distressed products, how banks manage their credit risk and give out details on loan pricing and various approaches to price loans/ manage risks.

In all, I have completed the first 3 chapters and from a laymans point of view, I personally think it has been given pretty well in Schweser. It could be that some chapters might not be given nicely but then that is the case with other topics too. I personally feel that it is definitely possible to clear the exams at least- I mean scrape through to get the passing scores using this material on Credit Risk Management.

I am telling this especially since Foobar wanted to know what was my take on it and I personally dont think that its too bad. I will pen more thoughts on it once I progress more.

However, what I feel is that time is lesser and more needs to be done, so I will have to revaluate my study strategy and be able to finish-off as much as I can in as little time as possible. I intend to complete the Credit Risk part from Schweser in another 3 weeks and attack quants. If I am able to go on at this speed, I feel its possible.
Lets see how my professional commitments behave!

Hope everyones reading is going on well. Once I finish off my entire course, then I plan to begin discussing exam-related questions and make this a better discussion (rather than discussing on which material to read, which is the case currently) with more members participating and benefiting.

All the best for your studies folks ! Take care !
Depends on what kind of consulting firm your company is.There are some boutique Risk Management consulting firms where it may make sense to do the FRM but I don't know the case with your firm.
Better you work there for a year and then decide weather to do the FRM.

Actually Ernst & Young has many good and cracking profiles in risk consulting. Secondly Aptivaa Consultans is one such risk consulting boutique. For those interested in this field, these are the firms to look out for, based on your background !

Hi Friends,
I have initiated a thread which isnt related to FRM though but yea would definitely serve as a direction for a lot of people. We have a good mix of people here with veterans like Tumtum. Pls contribute to it if you feel you have anything to share on this--
http://www.pagalguy.com/discussions/switching-to-finance-for-any-non-finance-professional-it-professsional-lets-say-25024797

Minor Update on Credit Risk
Dont waste your time on anything apart from Core Reading for Credit Derivatives section. Its easy to get and comprehensive like Hull is. So just go ahead with the chapters by Meissner. Its really good. I dint care to look up at Schweser for this whole section.

Hi,

I am currently doing MSC FINANCE from UK. Just finished my dissertation. Now i have time to prepare for FRM. Just wanted to ask, am i too late. how many hrs of study one needs to do for passing FRM. I have already dished out lot of money of my parents, dont want to waste further by just appearing in FRM with less chance of passing. please advice. I have no prior experience of financial risk management.

Minor Update on Credit Risk
Dont waste your time on anything apart from Core Reading for Credit Derivatives section. Its easy to get and comprehensive like Hull is. So just go ahead with the chapters by Meissner. Its really good. I dint care to look up at Schweser for this whole section.

Well Foobar, I have not yet come to that section of Credit Derivatives but after looking at it, I have decided to do it from Hull 6th Ed. Hope it will be okay if I do it from there, since I don't have the core readings. Let me know your take on it please !
Tumtum Says
Well Foobar, I have not yet come to that section of Credit Derivatives but after looking at it, I have decided to do it from Hull 6th Ed. Hope it will be okay if I do it from there, since I don't have the core readings. Let me know your take on it please !


If any of you guys have doubts regarding Credit Derivatives especially CDOs feel free to post here,this is one topic I can give much more gyan than Schweser 😃
rajatb Says
If any of you guys have doubts regarding Credit Derivatives especially CDOs feel free to post here,this is one topic I can give much more gyan than Schweser :)

Dude....why dont you start posting the basics here itself....won't it be a good way when ppl can ask you and solve their doubts? It will make this thread more meaningful if you contribute. Give it a thought please.
Tumtum Says
Dude....why dont you start posting the basics here itself....won't it be a good way when ppl can ask you and solve their doubts? It will make this thread more meaningful if you contribute. Give it a thought please.


I haven't started the Credit Derivatives section so don't know about the content and structure of the material.
But from what i have read till now from the posts the schwser material is good for the basics but does not go on to explain the topics in detail.
So if someone stumbles over a particular topic and finds the explanations given to be insufficient I can try and help .
Tumtum Says
Well Foobar, I have not yet come to that section of Credit Derivatives but after looking at it, I have decided to do it from Hull 6th Ed. Hope it will be okay if I do it from there, since I don't have the core readings. Let me know your take on it please !

Tumtum,
I have no idea about Hull watsoever. I am stickin to Schweser/Core for everything n thats it. But I think its given pretty well in the chapters in Core. I personally found it to be v well structured and to the point and easy to come by. I would highly recommend you to do it from Core. But again I dont know how it would be like in Hull. I would say go for Core for this section. Its complete in itself in there.

Disclaimer: i am not spamming or promoting any website. if u feel so then pls do not click on the links.

just found some useful info on FRM, therefore thought of sharing it with everyone:
http://www.kprofessionals.com/phorum/read.php?8,61

and you can also get latest ebooks for FRM at http://www.kprofessionals.com/phorum/read.php?8,232

Thanks
Shweta

Disclaimer: i am not spamming or promoting any website. if u feel so then pls do not click on the links.

just found some useful info on FRM, therefore thought of sharing it with everyone:
Kprofessionals: A Knowledge Professionals Community :: Professional Education :: FRM exam on Nov. 17

and you can also get latest ebooks for FRM at Kprofessionals: A Knowledge Professionals Community :: Professional Education :: FRM books

Thanks
Shweta

If you repeatedly post the same links then it does tantamount to advertising. In this case you have posted these links again and again. Once is enough I think madam. What do you say?
Folks, I need some help.

Can anyone loan me the core readings for a couple of hours?
I just need to get the Operational and Credit Risk part zeroxed.
Im based at Mumbai.
Looking for positive replies from someone atleast.
Securitization Chapter in Credit Risk
Hi people. I need some help here. The notes from Laxmi Xerox for Core Material did not include this chapter by Christopher Culp. GARP hadnt started to give out these from the time Laxmi started making copies out of it and had mentioned that paid members would get their online copies of the same later. I am not yet a paid member with GARP.
Can any of you who is a registered FRM 07 candidate share with me this particular Securitization chapter? Tumtum are you a registered member as yet?
Investment and Risk Management Section
Hi all,
For the ones who have completed this module which carries 10% weightage(Book 5 Core Reading), please share your thoughts for how to go doing about it? Schweser/Core? I found Schweser terrible for it. And could not map Core with Schweser! Pls guide...

Tumtum and other prolific posters, hats off to you!
I just stumbled upon this thread and wow! I got a complete insight of FRM.
My course is currently making me study Hull, hence I understand a few topics that are covered in FRM.
Keep posting updates on your FRM preparation... so that people like me can learn!

Thanks,
Viv.

Attention! FRM 2007 takers in Hyderabad
Pls take this with utmost importance. Hyderabad is NOT a FRM Center yet. It needs only 10 registered(paid) candidate requests to qualify as a test center. Pls do the needful people. PM me whomever is interested to take it from Hyderabad. I would maintain a consolidated list and let everyone know how many we are every once in a while.
It takes only 10! Lets make it super-fast to reach it!