How to Prepare for the Financial Risk Manager, FRM, Exam
If at all you have chosen to be a Certified Financial Risk Manager, congratulations for this. Earning your designation as a certified FRM, which is offered by the Global Association of Risk Professionals, GARP, you will be churned out into the marketplace ready to fill a number of positions in the business world some of which are like as an operations risk manager, regulatory risk manager, credit risk manager, market risk manager amongst a host of other positions there may be related and in the global marketplace.
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. Either part of these exams are taken in the months of May and November. Both of them are multiple choice format exams. Their costs as well vary depending on where you take your registrations from for the exams.
The pass rates stand at an average of 45% for Part 1 and 56% for the Part 2 exam. 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.
Talking of preparing for the FRM exams, one of the things that you need to be familiar or as much abreast with are the FRM Exam topics. Check here to learn more on the format of the exams as they are on both parts of the exam and how they are weighted.
To ensure such adequate preparation, you need to make sure that you are at least having a basic idea of what it is that is included in these topics.
Begin your studies for these exams as early as is possible as this is another critical step to take so as to ensure that you are preparing sufficiently for taking your FRM Exam. 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.