please help me guys ........do u think it is still time to start FRM study...plz i have to decide now. Especially i would request TANTUM to reply
geranimo Saysplease help me guys ........do u think it is still time to start FRM study...plz i have to decide now. Especially i would request TANTUM to reply
Firstly, its NOT TANTUM...its TUMTUM.
Secondly, considering your profile, I would advise you to first begin applying for jobs in UK and get into a risk management department of any IB or get into a risk consulting profile. Then only register for FRM since if you are not employed in a relevant field, then though it may boost your CV, there is no guarantee that you will get job into such profiles because of FRM.
Like I have said umpteen times earlier, this qualification is meant for people in RELEVANT profiles in TRADING /RISK MANAGEMENT/RISK CONSULTING.
If you fit the bill, you should register, else give it a second thought. Hope this solves your query.
Regards,
Tumtum.
hello everyone
Hope that everone is doing fine with their studies... I started last month with no fin background but its going ok with little problems... I have finished 1st volume and wanted to know if i could directly jump on to the 3rd volume on " credit risk and operational part" . As this part carries maximum weightage , i want to complete it first .. so i wanted to know from u guys if i am going on a right track -- [ i have completed some 7-8 chapters in hull as well ]. ...
Please respond as early as possible----
thanks
Hi Everyone,
The GARP free readings take up a major portion in the Learning objectives (AIMs):
Here are the mappings:
43.6 to 43.8- (GARP Reading)- Risk in Fixed Income Hedge Fund Stratergies
45.1 to 45.16 Rene Stulz (GARP readings) Hedge Funds Past, present & future
49.1 to 49.5 (GARP Reading) Darrell Duffie,Measuring,Marking Counterparty risk
45.1 to 45.16 Amarnath Debacle (GARP Reading)
62 .1 to 62.8 ERM, Rene Stulz (GARP Readings)
63.1 to 63.7 Toward Greater Financial Stability (GARP reading)
64.1 to 64.7 PWG (GARP Reading)
68.1 to 68.20 BASEL Readings (GARP)
69.1 to 69.8 GARP Reading(Risk Measurement, Risk Mgmt & Capital Adequacy
Happy studying
Hi colleagues,
I am new here and I really appreciate your postings.
I am preparing for the 2007 exam and I went through all entries here.
One essential question from my side: Why does everybody refer to the
Schweser notes. I know quite nothing about them; but are not listed in
the recommended readings. Are they of more kind of efficiency?
My plan was to study in detail FRM Handbook and to go over
to the core readings for certain open items.
What do you think about FRM Handbook acutally. Isn`t it worth to read?
You scarcely discussed it here.
Thanks for you comments.
Greetz, Christian
hi folks,
i have a hardcopy of the jorion 3rd ed handbook. does someone have any idea how i can lay my hands on the 4th ed. SOFTcopy, to ensure i don't miss out on any new stuff this year. i called GARP and they basically said 'sorry you spent 120 bucks last year, we can't take that unused book back so spend another 120 this year for the new ed.' bunch of nonsense - they should have a refund policy for those cancelling exams.
anyway, i'm going to use my 3rd ed i guess after all unless someone can point me to the 4th ed.
good luck to you all.
I recently posted one query and would really appreciate if any one of you could reply soon! Time is running out , thanks
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.
Dear Foobar.
With utmost respect to your opinions, I find them a bit exaggerative frankly.
So much so that I was a bit worried about the credit derivatives part and spent a bit of time and effort in getting the core readings. However I could not get that particular part zeroxed since no one gave it to me and hence I went ahead with studying the part from Schweser and to my surprise, whatever you have said of Schweser notes on this partiular section is blatantly false.
I think that the credit derivatives part has been given in a very lucid way and is pretty simple to understand too. Wherever I faltered a bit, I used Hull and the combination worked pretty good for me.
Its good that you didn't care to look up Schweser for this section but you have got to understand one fact. All of us have different backgrounds and different capacities of grasping concepts. If one among us is having a tough time with a topic, then it isn't necessary that others wil face the same problem. I request you to keep in mind this fact when you give out your opinions since they can be misleading. PS I am not blaming you so please don't be offended , just be a bit more restrained and not exaggerative when posting.
Hope I have not offended you and I am sorry if I have. Take care and do let us know of your progress in studies.
Regards,
Tumtum.
Hi Everyone,
The GARP free readings take up a major portion in the Learning objectives (AIMs):
Here are the mappings:
43.6 to 43.8- (GARP Reading)- Risk in Fixed Income Hedge Fund Stratergies
45.1 to 45.16 Rene Stulz (GARP readings) Hedge Funds Past, present & future
49.1 to 49.5 (GARP Reading) Darrell Duffie,Measuring,Marking Counterparty risk
45.1 to 45.16 Amarnath Debacle (GARP Reading)
62 .1 to 62.8 ERM, Rene Stulz (GARP Readings)
63.1 to 63.7 Toward Greater Financial Stability (GARP reading)
64.1 to 64.7 PWG (GARP Reading)
68.1 to 68.20 BASEL Readings (GARP)
69.1 to 69.8 GARP Reading(Risk Measurement, Risk Mgmt & Capital Adequacy
Happy studying
Dear Snowy, are these some links that you have posted here? If yes then they are not active. If no then could you tell us where we could get the respective soft copies on the same.
Thanks !
I wanted to know if there is any additional case studies that have to be referred for the exam and also what kind of questions on case studies turn up in the exams. Could anyone throw light on these please?
Regards.
Hi Tumtum,
Amaranth debacle (Hedge Fund that was based at CT now taken over by JP Morgan and Citadel) and Reto Galati chapter 6 (Metallgesellschaft, sumitomo, LTCM, Barings) are the case studies that one needs to go through for the FRM exam
Regs
hello everyone
Hope that everone is doing fine with their studies... I started last month with no fin background but its going ok with little problems... I have finished 1st volume and wanted to know if i could directly jump on to the 3rd volume on " credit risk and operational part" . As this part carries maximum weightage , i want to complete it first .. so i wanted to know from u guys if i am going on a right track -- [ i have completed some 7-8 chapters in hull as well ]. ...
Please respond as early as possible----
thanks
Hi Brij,
I personally don't think it makes much of a difference...though it is preferable to do the quant section first for ppl who are not familiar with it ...followed by other sections...as for me I did the market risk section before....as hull and tuckman are pretty vast and consume alot of time. credit risk is relatively easier, you can correct me if Im wrong. As you have completed many chapters from hull you seem to be in decent shape.
It is more imporant to make a rough schedule and keep track of time....so that one ends up reading everything...as it is very important to revise...maximum exposures is the key to crack the exam as Ive been told by many.
Regs
That apart, I just finished the Credit Risk (25% weightage) section y'day. I did the entire part through Schweser and some through Hull (wherever I faltered).
It makes for a nice read and I found it pretty interesting. After doing Operational and Market Risk sections, I feel that this is the easiest of all....very straightforward and to the point.
Especially the credit derivatives part was the most enjoyable of all. I am sure all of you will like it too.
Beginning today, I will attack Quants and Investment Management (totaling 20% weightage) and intend to finish off these sections in the nest 3 weeks.
I was thinking that this will finish off my syllabus once but now that Snowy has brought these readings to light, I will begin reading all these case studies and give 3 more weeks time to complete all of them. I hope its possible to cover all the case studies in that much time.
All in all, I am looking at completing my entire syllabus once by the next 6 weeks- aka September-end.
Whats the input from you guys? Hows ur preps going on. Am I beginning to slow down? I feel so !
Hi
I am Rajesh, if you need soft copies of Swecher, I can Provide you. Please email me [email protected]. We can probobaly share it
Thanks
If anyone has soft copies of Gunter Meissner, Servingy Renault of Credit risk section and Lars Jaegers of Investment Mgmt section please let me know. As I don't have schweser 2007. I can't collect photocopies as I don't live in India. I have most of the other readings...so sort of managing. Ultimately I guess will have to buy bionic turtle stuff plus vedios (I find it awesome!) but there is a drawback-they are not downloadable. Thats why I prefer the real stuff. Anyway too much bla bla already... Happy Studying.. I've been at snail's pace for quite some time now...I am reading the Amaranth Debacle lately....see how I mispelled it Amarnath....(The Indian touch always remains...Oh bla bla again :))
My pleasure!
In the AIMs document GARP has divided the FRM course into 9 modules namely:
Quantitative Methods
Value at Risk
Market Risk Management
Fixed Income Securities
Derivatives
Investment and Risk Management
Credit Risk Management
Operational and Integrated Risk Management
Capital Allocation
Just make sure if all the topics/ learning objectives under the above mentioned modules have been covered during your preparation. GARP has made sure to separate out VaR this year, thus stressing on its importance.
As for me quant, MRM (incl fixed income and derivatives) and operational mgmt are complete; nearly half of credit risk and VaR; and bits of Investment mgmt and capital allocation. Actually loads still to do. I will be forced to take a two- three week break from studies. So precisely will just have half of sept and oct. nov Im just not counting... as it should be solely for revision...I sometimes think, I speak so much about revision...But first atleast need to get over reading all this once. And the other scare is one's memory can be so volatile! I don't seem to remember much of all I studied....it all seemed so long ago.Does anyone feel the same? Or am I unduly getting purturbed?..anyway I don't intend to scare anyone...just sharing my view. I guess revision should help! God have mercy on us....poor FRM aspirants! It definitely is pretty daunting. As nov 17th approaches I guess this feeling will exponentially increase. Somehow I guess, one performs better under pressure....or else we tend to get too cool about things. July month for me was an utter waste in terms of FRM preparations..anyways no crying over split milk...some words of someone's wisdom: optimum pressure is what is required, and you would see how fast the portions get covered.
All the best. Happy Studying
Snowflake SaysAnd the other scare is one's memory can be so volatile! I don't seem to remember much of all I studied....it all seemed so long ago.Does anyone feel the same? Or am I unduly getting purturbed?
Dear Snowy, you are not alone, I know that atleast I am with you....hum saath saath hain. But I guess what happens is that once I sit down to revise, I begin getting everything sorted out and then whats needed to reinforce it is some good practice. If I get that much time, I will attempt the exam with confidence, and if not, then only I know how jittery I can get in the exams !!
Snowflake SaysJuly month for me was an utter waste in terms of FRM preparations..anyways no crying over split milk...some words of someone's wisdom: optimum pressure is what is required, and you would see how fast the portions get covered.
Man, for me the last week of June, entire July and first week of August.....in all nearly 45 days went waste because of the earnings season in EU. I used to chat with Ryan during that time and used to be really worried but what to do?, these things happen. I guess apart from managing studies, FRM is also teaching me time management...fringe benefits huh !
Keep reading and your focus intact and I think you should be through ! All the best and take care !
Hey Tumtum,
Thank you for your reassuring words.
The pressure was on me, as tomorrow onwards I have to keep my books aside for good 2-3 weeks atleast.
So true, we are getting practical lessons on time management.
Once we complete the portion, we can discuss critical topics and tricky problems. Guess that should be fun.
I'd just like to add as I sign off:
Genius is one percent inspiration, ninety-nine percent perspiration. Thomas Alva Edison
Happy Studying guys....cya soon 😃
hi friends
can anyone let me know what is the elegibility and procodure for the FRM exam ?
also how many candiates are giving this exam and what is its value as compares to CA ?
ps: i have no idea on this so please pardon my ignorance
Hi Tumtum,
Thanx for creating this new and very important thread. I am new to this site, and is really helpful. I am basically a CA have 3years work ex and currently working in EXIM Bank as Credit Analyst in Corporate Banking. I want to take a leap in Risk Management. Pls. advise, considering my background, what do u suggest. What r the job prospects after FRM? Pls...help...
Hello friends !
FRM exam has evolved into a very comprehensive and a globally respected risk management qualification by now since its inception 10 years ago.
It holds its examination once a year in November and I am looking at the November 2007 exam. I do intend to pursue the program and appear in November 2007.
This thread therefore is intended to discuss out all issues relating to FRM exam and also for sharing information/study tips and reading materials of Schweser....basically pooling resources in a way that benefits all the exam takers.
FRM was being discussed in the CFA thread also but I think its better to keep that thread exclusively for CFA discussions. Hence I have created this thread.
Feel free to pour in your thoughts.
For your convenience, I am posting the details as an attachment.
Regards.
PS: This is no attempt to advertize the qualification. Mods please take notice.
Hello Tumtum,
This is Naivya...I trully agree with you..Me also appearing for FRM exam 07..wud like to share the information for the same....
This is the best way we can update all of us regarding the study material n queries related to the FRM exam....
Waiting for more sugestions to share.