Superstitions have inhabited this world even before humans did and it’s time we exorcise some of them. They are not doing any good to you as well as the world. FRM exams are right around the corner and we (at least I) don’t have time to entertain these myths and superstitions. Some Myths that need to be scooped out of your head:
#1 "Book x has all the important topics, every year the paper is set from that book"
Time to come back to the earthen planet and reality and "co incidence" is the word you are looking for. The FRM exam setters would never set their papers according to a certain book. If you are getting all the material in one book which is explained well and coincidentally a question or two would have come in the previous FRM paper from that book doesn’t mean that, that’s the only book you refer to or you shouldn’t refer to that book. You should always refer to a variety of study material for your FRM exams and not restrict yourself to certain materials as one set of materials cannot contain all the information. So refer to more books rather than just the book X.
#2 "You know what? John studied only for 3 weeks and still cleared the FRM Exams!"
Well, John’s friend, are you aware of how did he pass the FRM exams with just 3 weeks of preparation? I’ll tell you, you would have to investigate a little. John probably had a risk management background or maybe he knew this topic really well due to some course, seminar or something that he attended in his life. John probably devoted every second of those three weeks without batting an eyelid and actually focusing on each word that he read that it was so well imbibed in his head. Not everyone has the same learning or retention capacity. Everyone studies differently, has different ways of retaining stuff in their brain. NEVER compare or try to imitate someone else’s study pattern right before your exam. Go through your pattern as you would be more comfortable that way. John studies differently and you study differently. So actually work hard to clear the FRM Exams.
#3 "The GARP material is the best material as it’s from the people who have set the exams"
NO! It might be one of the best materials, you might get an insight on the exam pattern and everything but it certainly is not the only thing you should refer to. There are a zillion books written by zillion people. Why would they waste their time when everyone would be referring to the GARP material? There are books that explain the concepts better and get you thorough with the topic. Don’t limit your knowledge, read and explore!
#4 "The best way to study is only through books/videos/tables/charts/notes/classes"
Again wrong! The best way to study is your way of studying. A combination of all is the best way. That way you extract all types of knowledge and your brain is not exposed to certain of format of learning. Different formats of learning help to retain better and also procure more knowledge.
#5 "I don’t think I will be able to pass this exam, I have a job/ baby/classes/ house/hair…"
That is the worst thing you can do to yourself, make excuses for not studying. Ridiculous I say! Excuses will never help you pass the exam nor will complaining. Rather than wasting time complaining, open your study material and for once actually study! Laziness looks good only after you have achieved all that you wanted. And if you didn’t want an FRM certification why did you enrol for it in the first place. You can achieve anything only if you try. So get up and set down to make this mission possible!
Hopefully you have cleared all your misconceptions and are not going to limit yourself anyhow. Work hard and get results that make you happy. Prepare well and all the best!
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