How to prepare for 2018 FRM Exam?

FRMAre you aspiring to pass 2018 FRM Exam? then you need to plan your study in advance. Before explaining you the path to succeed, 1st understand about the exam.
The Financial Risk Manager (FRM) exam is directed by the Global Association of Risk Professionals (GARP). The GARP are a global membership association for risk professionals that offer this professional certification.
The GARP describes the FRM Risk Manager Exam as, “a practice-oriented exam, firmly grounded in the skills and knowledge needed for today’s financial landscape.” The exam is challenging and covers a broad range of financial risk management topics.

What is the exam structure?

  • The FRM Exams are multiple choice exams given in two parts. The exams are offered in English and you must complete them with pencil and paper. The FRM Part 1 Exam has 100 multiple choice questions and FRM Part 2 Exam has 80 multiple choice questions.
  • The FRM Exams are offered twice a year – in May and November.
  • Each part of the exam is four hours long, for both the FRM Part 1 and FRM Part 2.
  • You must pass the first part of the exam before FRM Part 2 can be graded. You will receive no penalties for a wrong answer. Your score will be decided by the FRM Committee.

How much time to study?

  • The study hours are different for different individuals.
  • A survey conducted by The Global Association of Risk Professionals (GARP) in May 2013 indicated that candidates devoted about 275 hours for FRM Exam Part 1. At an individual level, it varied from 100 hours (6%) to 400 hours (11%).

Best Practices:

  • Learn from recommended FRM books and use study notes for quick revision.
  • Design your weekly study planner to complete chapters and attempt practice questions.
  • Take all interactive quizzes and mock exams from reliable sources, understand and fix your flaws.
  • Visit forums to match your preparation goals with others through active discussions.
In the end, it’s all about finding your unique technique to gear up for the upcoming exam journey.
April 19, 2018

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