Tips to Get You Ready for the Financial Risk Manager Exam, FRM Exams
If at all you have chosen to be a Certified Financial Risk Manager, congratulations for this. This designation that is offered by the Global Association of Risk Professionals, GARP, is one that is going to set you apart in the global marketplace and will have you ready and fit to join the career industry as any of the positions mentioned; credit risk manager, market risk manager, regulatory risk manager and operational risk manager or some other related position.
Having said this, one thing that you however need to note is that for you to earn this designation, a certified financial risk manager, FRM, you must take the Financial Risk Manager exams which will come in two parts, Part 1 and Part 2. These exams are sat, either parts, in the months of May and November. One thing that you need to know of when it comes to their format is that they are multiple choice format. Their costs as well vary depending on where you take your registrations from for the exams.
Looking at the pass rates for those who took the exams in the past years, the pass rates stand at about 45% for the Part 1 and 56% for Part 2 papers. Now, for this reason if at all you are planning to take the FRM exam and want to be sure that you will be having such an upper hand and chance at passing the exams and as such have your certification as an FRM, certainly these tips would go such a long way in ensuring that you stand such a good chance at this.
The first thing that you will want to make sure that you have done as you look forward to adequately preparing for the FRM exams would be to be as familiar as ought to be with the FRM exam topics. Check this page for more information on how these exams, both Part 1 and 2, come in format and weighting.
Generally, it would be advisable to be on the know at the very least on the general concepts as they are included on these topics.
The other important thing that you need to ensure that you have done as you look at the need to ensure sufficient readiness for the FRM Exam is to set off as early in time as you can on the studies for the exams. As a matter of fact, the FRM Exams call for lots of stufy hours and for both parts you need a minimum of 200 hours on the very least.
The next tip to help you prepare adequately for your FRM exam is to practice for the final exam and when it comes to this, in the final weeks counting to the exams, you need to make use of such resources as the FRMQuestionBank to help you practice on some of the questions for your revision needs.