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FRM Last week Preparations

November 15, 2011

I hope that all of you are well on your way revising for the FRM Part I Examination this week. With less than a week for the exam, here are some tips to keep in mind –

Last week strategy

  • Go through all the question banks in your courseware
  • If you have any queries or doubts, please post them on the discussion forums within the courseware or email them to us at content@edupristine.com
  • Make sure that you do Practice Paper 2011 sent by GARP. Analyze the paper 2-3 times. Try doing each question atleast twice. Sometimes the questions are repeated with a change in the values. (EduPristine will use all these questions in revision classes)
  • Don’t start any new topics right now. Just consolidate whatever you have learnt till now.
  • Practice using the calculator. Make sure that the batteries are OK
  • Very Important topics: Though all the concepts are important from exam point of view, but make sure you are thorough with these concepts: hedging using futures, Delta and gamma hedging in options, Portfolio Variance, CAPM formula, EWMA and GARCH, Basis Risk, Option Strategies, Black Scholes formula, VaR Formula, calculation of Forward rates, Sortino Ratio, Duration and Convexity, Expected and Unexpected loss, Normal Distribution, Beta and alpha concepts.
Last day tips

  • Go through the formulas and revise from Visualized FRM
  • Do not try to discuss new topics with friends. Instead focus on the material that you have referred to
Before the exam, make sure that you:

  • Take your calculator.
  • Have at least 4 pencils and 1 eraser with you.
  • Have the Exam hall card and your ID proof with you ( preferably Passport)
Question marking strategy

  • Mark all questions, since there is no negative marking
  • Caselet based questions looks lengthy but they might be easy, you have approximately 2.4 minutes for each question
  • In Practical questions they might give lot of values, wherein few are given just to confuse you
  • 100 questions in all, total 4 hours
  • Keep marking the answers as soon as you have done it. Don’t wait for marking till the end
  • Make sure that you go through the complete paper. Sometimes the easy questions are towards the end
  • Remember that you have to clear each section separately. So instead of focusing on questions of just one section, try to do questions from all the parts. The questions are not given topic wise
  • Remember that sometimes the choice can be calculated using elimination. Try to see the choices and figure out the choices that would clearly not be the solution
  • Each one has his/ her own liking. If you have a liking for conceptual questions vis-à-vis numerical questions, hunt for questions of your liking first. Once you gain the confidence that you have completed a substantial portion of the exam, you would be able to do the other part well

We hope that you do well in the examination. One point to note is that this is a relative examination. So if you are finding it difficult (and assuming you had prepared for it to the best of your satisfaction), then rest assured everybody would be finding it difficult! So the key is now to best achieve whatever is possible. You have to do better than your peer.

EduPristine wishes you the best of luck for your exam. We do hope to hear from you about your experience of the examination.

Please feel free to call us or mail us for any further clarifications.

To guarantee your success at passing the FRM exam at one go, follow the link to
Boost Your #FRM Exam Prep
for many more tips and solutions!

About Author

avatar EduPristine

Trusted by Fortune 500 Companies and 10,000 Students from 40+ countries across the globe, it is one of the leading International Training providers for Finance Certifications like FRM®, CFA®, PRM®, Business Analytics, HR Analytics, Financial Modeling, and Operational Risk Modeling. EduPristine has conducted more than 500,000 man-hours of quality training in finance.

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