How to Prepare for the Financial Risk Manager, FRM, Exam
For you who has decided to be a Certified Financial Risk Manager, great a decision this is. 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.
This said and done, you need to know of the fact that for you to earn this particular designation as a certified risk manager, you will have to take and pass the FRM exam which is often taken in two parts, the 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. Besides it is to be noted that the costs for these as well vary from one area to another.
If you took the exams in the past, you know the fact that the pass rates stand at an average of 45% for FRM Part 1 and at 56% for the FRM Part 2 exams. 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.
First and foremost, you will need to be as familiar with 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.
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.
Added to this, you will as well want to consider the need to practice for these exams as another tip and indeed so handy for the need to prepare for the frm exams, in which case we see the fact that in the final weeks running to the exams, make use of some of the revision kits and tools such as the FRMQuestionBank.