Financial Risk Manager [FRM] by GARP

Jobs & Careers
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FRM junta please help me...

I am interested in giving FRM this year....so i have few queries...Currently i am working as SAP consultant...i hav done BTech(I.T.)...in total i hav 1.5 yrs of work ex....nd more than SAP Finance and stuffs related to it interests me.....now my questions..

1.As i m a techie..so b4 goin 4 FRM is it necessary for me to do some other course in Finance to get basic concepts of Fin or i can directly opt for FRM.

2.How much we hav to study to pass FRM xam. I m planning to giv CAT dis yr..+ i hav my job...so how much effort i hav to put..(considering all des).Is it tuf to pass xam???

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Hi all..

Good to see people clearing it...

We would be grateful if the people who cleared FRM 2007 could offer insights and share their experiences..

I am a FRM 08 aspirant.. and I feel this exercise will help us greatly...

Also let us know what would be the best way to prepare.. and what resources.. online / offline could be used..

thanks a lot.. and Congrats to those who cleared it! :)
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hey guys

Ya i passed as well....:biggrin::biggrin::biggrin: Well, i have to thank a lot of people who were active on this group and provided the support at the right time. A special thanx to Anuj , who provided the intial motivation.
For those of you who would be appearing for FRM 2008, let me give you a piece of advice.. First of all , you need to be patient .. There are no shortcuts. The more you study , the more you understand. I had no finance background, infact i started preparing in the month of august.. But i would have loved to start before and get a more comprehensive understanding of topics i still don't feel confident about. I had taken a prob & stats course during my IIT days , so that helped me a lot.
Topics to focus:

First of all , whatever i am going to say , is just going to be my opinion , so you are allowed to have one of your own.. I believe that Credit Risk management and Operational Risk management are the toughest and the most important topics as well. Operational risk is somewhat a new concept and something Basel commitee is strictly focusing on these days. The most tricky questions on the paper were on the Credit Risk and Opertnal risk only. The quant qs , risk management and market risk qs were somewhat ( wat i figured) straightforward. That does not mean that you can relax and leave it for the end months. Everytihng is interrelated and FRM people very smartly and intelligently give qs which involve all of these concepts. The case studies are very important for the exam and for your understanding as well. The topics like CDO's , CMO's and structuring ( Plz bear with the jargon) qs were really tough and conceptual. So spend good time on it.
what i feel is that i didnt have enough time, so i cdnt go in to the depths of many concepts. But for ppl who would be starting now itself, it would be good to start with developing basics by using books like John hull.. Its a great book ..Then go for the core readings .. I know its preety humoungous ( Although i didnt study it :biggrin:) , but it will really give you confidence . You dnt have to cramp evry single page in core readings , but try to get the big picture. I would strongly recommend the FRM handbook .. Its a very conceptual book and will be good to study after or along with core readings. For ppl who would be starting late, Schweser notes are good but
it would leave you guradless in many topics. In those cases you can always refer handbook or hull for conceptual explanations.

The exam day:
After coming out of the exam hall , 2 things will happen:

one--You are exhausted like hell ...
two-- You feel good , you give comments like "man it was tough", but in the end you begin to appreciate the level of the exam. The exam truly justifies the rigor you go through while studying for this exam and trust me , there is no bigger pleasure than getting to apply your concepts.

Okay now - The Benefits

I assume that this is the biggest concern in your mind. Well i will talk abt it with my example only. As Praygraj has already commented on this topic, it is a gateway to the banking industry. Some people have commented that its is the toughest exam in the finance world. I recently got a job offer from a top bank , and a big thanx goes to this exam. Other than this, once you are thorough with this exam's syllabus, you would be able to participate in any discussion on finance, with confidence.

All in all -- It is a very good deal.

So best of luck to FRM 2008 aspirants.. feel free to ask any questions.. i will be happy to answer

Brijesh

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hey PUYS.....i hv a doubt........i m an engg student in final yr.........aiming to pursue MBA 2009-10......being an engg student i dont hv ny knowledge reg finance , accounts and all that stuff......so was planning 2 take up an xam that wud teach me these thingz......i was aimin at FRM but FRM is conducted in nov......and during that time v hv CAT.......so is it advisable 2 give FRM?...or shud i give some other xam...plz help....thanx in advance

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Hi Brij

Congrats and Thanks a lot for that useful post.Now I am wondering whether FRM is too much inclined towards quant stuff as in mathematical derivation ?? Look I am asking in a perspective of a non mathematics guy ,for ex if I were to learn duration or convexity in Fixed Income is it mandatory to learn the mathematical derivation or only the understanding of the yeild curve (in this example) is enough ,so far I have tried to understand fixed income ,credit derivatives and stuff like that purely on the logic of the concept. correct me if i am wrong !!!

Basically I want to know as a finance student (knows decent level of statistics and beginer's level of econometrics) studied financial derivatives to a reasonable extent ,would I have to start learning pure mathematics before begining FRM or with the given level could I start with the Hull,core readings and offcourse FRM hand book ??

Please feel free if you have any viewpoints on my understanding.

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Im planning to write frm this year..and i have started with hull..but i still have no ideas on what this core reading are...can nyone shed light on this...

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guyz anyone from mumbai preparing for FRM 2008....??????

Ankit
NITIE,Mumbai
Class of 2k9

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hi,
how relevant would doing a FRM be for me given that i do not have the requisite 2 yrs of work ex..i am in my first year of MBA at SIIB pune and plan to specialise in finance.


i have also heard of the ICFAI PG Diploma course in Treasury and Forex Risk Management. Does anyone have information on it.. how good is it??

Thanks in advance..
Regards
Anchal

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Hi Brijesh,
Thanx for ur feedback.
Started with Hull for FRM 2008. Finding it easy and also for conceptual understanding.
My doubts are
1) Is pure quant. ability required or financial applications of quant. will do?
(though I have finance background, there is a huge gap now after my earlier education and I am little scared of pure statistics)

2) Is there any other magazine, website that u will recommend for regular readings for practical understanding and for case studies, etc.

Regards
mudaltiru
Ahmedabad

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FRM , does it have any credibility?

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hello every1..

frm where can i get the study material for FRM in New Delhi??

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hello every1..

frm where can i get the study material for FRM in New Delhi??

looking for the same Me in delhi too,, Can we fourm a group in delhi...
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Ankit, Am planing to give FRM 2008 and i stay in Mumbai.

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Hi Brijesh,
Thanx for ur feedback.
Started with Hull for FRM 2008. Finding it easy and also for conceptual understanding.
My doubts are
1) Is pure quant. ability required or financial applications of quant. will do?
(though I have finance background, there is a huge gap now after my earlier education and I am little scared of pure statistics)

2) Is there any other magazine, website that u will recommend for regular readings for practical understanding and for case studies, etc.

Regards
mudaltiru
Ahmedabad



Which book from Hull u have started, i think there are 3 books from Hull, like Fundamental in option and derivative, Fundamental in risk management etc

4th edition FRM handbook is available in the market now in Mumbai(Xerox copy) for 700 RS (Laxmi copy center, vile parle(w)).
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Hiii All,

I am a newly qualified CA, working in Forex frontoffice of a topmost MNC Bank in Mumbai. Planning to register for FRM 2008. Inquired with Laxmi Copy Centre & they have informed me that the 2008 Schweser notes & GARP Core readings set would be available only in first week of May. So planning to start off with Hull & FRM-Handbook. Can anybody tell me where in Mumbai would i be able to get the Hull books, since they are not available in Laxmi??

Also I wuld like to ask the same question that Prasad has asked...Does FRM harp too much on pure quant? Or can anybody wth a finance background like myself manage to get away with financial applications?

348
Hiii All,

I am a newly qualified CA, working in Forex frontoffice of a topmost MNC Bank in Mumbai. Planning to register for FRM 2008. Inquired with Laxmi Copy Centre & they have informed me that the 2008 Schweser notes & GARP Core readings set would be available only in first week of May. So planning to start off with Hull & FRM-Handbook. Can anybody tell me where in Mumbai would i be able to get the Hull books, since they are not available in Laxmi??

You can Find Hull Book in any bookstore in Fort area. You can pick them off the road side book shops near foutain, churchgate. But ideally every decent bookstore should have hull on its shelf

Also I wuld like to ask the same question that Prasad has asked...Does FRM harp too much on pure quant? Or can anybody wth a finance background like myself manage to get away with financial applications?

A lot of questions in FRM would be numericals. You would also find questions that will test your concepts about Operational/Credit/Market Risk esp about the risk models. But be prepared to use ur calcuator for 75% of time during the test.
349

Hi Guys,

Thanks a lot for the info provided.
I have been following this thread for past week.(read all the posts)

I can definitely say there cannot be any site providing detailed information on FRM.

I have started the studies with Hull "Futures, Options and Other Derivatives" 5th Edition.

I just wanted to share that after searching for 2-3 sleepless night I finally found the solutions manual for 5th Edition (I shud have found it earlier though) thanks to some blessed souls on esnips.

U can search urself on esnips and get the book (hull solutions.pdf) or I will upload the same if required.

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Puys,

Is the soft copy of Hull "Futures, Options and Other Derivatives" available on esnips or newhere else?...

If someone has it please let me know...

Thanks a ton!

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Hi Amit,

U can get a soft copy of 5th Edition of Hull "Future, Options and Other Derivatives" on ebookee.com
and it should be available on esnips.com as well.
ebookee.com also has soft copy of FRM handbook 3rd Edition.

if anyone needs them plz. let me know will upload it somewhere and let u know.

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Puys,

I have uploaded following ebooks
1. FRM Handbook 3rd Ed (Scanned Copy)

JORION_FRM_Handbook_3rd_ed..rar

2. FRM Handbook 2nd Ed (ebook)

Financial.Risk.Manager Handbook. 2nd Ed.rar

3. Options, Futures and other Derivatives 5th Ed (Scanned Copy)

Hull-Options Futures And Other Derivative Securities 5Th Ed.rar

4. Solutions to "Options, Futures and other Derivatives" 5th Ed (Scanned Copy)

Hull_Solutions.rar

5. Options, Futures and other Derivatives Supplements

Options Futures And Other Derivatives - Supplements - Hull.rar

Hope these may help you. I am not sure of the period after which these files will be deleted from the website. So plz. d/l ASAP.

Wish u all the best.