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The big disadvantage of self-study: not systematic, long cycle, no one to lead.
The choice of self-study for FRM preparation is suitable for people with good foundation, strong ability and perseverance. Relying on textbooks, handouts or ** to learn, the whole FRM learning process effectively relies on their own strong inner drive, subjective factors are more direct, and things that rely on perseverance to complete.
Not everyone is suitable for doing this thing, so it is still more difficult for people with poor concentration or uncertain mind to learn on their own.
In fact, in self-study, I am often troubled by the problem of encountering this part, if no one helps you to answer, you can't think of it, and your confidence will be hit.
There is also the problem of time, most people study without a plan, someone told him that a certain material is very good, he quickly went to buy a copy to read. It is indeed helpful to read it, but it may not be more necessary to take the FRM test, so it cannot be seen immediately.
The resources and time of ordinary people are very limited, when the materials or courses he reads cannot immediately help him produce results, in fact, he is wasting his time and money, and the learning effect is limited.
Self-study requires more time than training, about three to four times as long as training, because the training weekends are concentrated together, and the round-the-clock learning time can ensure that the success cycle of self-study is a few months or several years.
Even some people can't learn on their own, in the process of self-study, they can continue to persist for a few months, and if there is a certain amount of progress, they can continue, if there has been no progress, they have been going back and forth on the balance line, and they want to develop towards this, it is recommended to study systematically, and do not waste time by self-study.
The great benefits of training: systematic teaching, short cycle and high efficiency.
FRM is divided into two levels: credit risk, market risk, operational risk, liquidity risk and quantitative management methods of various types of financial instruments, and pays great attention to quantitative analysis and heavy mathematical statistics.
Systematic teaching and short cycles: FRM training courses are not required. However, participating in the FRM training system can reduce the process of self-exploration by the candidates, and if they register for two courses at a time, the time is very tight.
Through the detailed and in-depth analysis of a large number of representative and difficult exercises, the training is generally focused on the key and centered, so as to master the problem-solving ideas, improve the candidates' test-taking ability, save unnecessary time, and form systematic teaching of these knowledge.
Gordon FRM, Lead, Basic, Strengthened, Sprint. The four modules, taught by professional teachers, closely follow the exam syllabus, and comprehensively interpret the test center, the learning efficiency will be several times higher. Of course, I have to work hard in the past few months.
Whether it is self-study or the focus of training, or read more books by yourself, do more questions, and ask more questions if you don't understand.
Learn experiential methods: FRM training courses are explained by professional teachers. The FRM exam is not about the depth of difficulty, but about the complexity of the knowledge points, and the teachers of the FRM training can teach you how to make trade-offs.
What you learn in the training institution is not only the knowledge in the book, but also the skills that combine the experience and methods taught by the teacher to master the skills of doing more with less.
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Is it difficult to learn FRM on your own: There is a certain degree of difficulty
Financial Risk Manager (FRM) is the top authoritative international qualification in the field of financial risk management, established by the Global Association of Risk Professionals (GARP) in the United States. GARP helps the risk community make more informed risk decisions by "creating a culture of risk awareness."
FRM certification is organized by GARP propositions, exams and certificates, which focuses on the introduction of the necessary knowledge system of risk management analysis and decision-making, and adopts an all-English exam. FRM is approved as a National Vocational Qualification Certificate in China by the Ministry of Human Resources and Social Security and is supervised by the Vocational Skills Appraisal Center.
The FRM exam began in 1997 and is held annually on the third Saturday of May and November, and has been in operation for 21 years as of the end of 2017, with more than 48,000 people worldwide receiving FRM certification.
The FRM exam has test centers in Beijing, Chengdu, Guangzhou, Hangzhou, Jinan, Nanchang, Nanjing, Shanghai, Shenzhen, Taiwan, Tianjin, Wuhan, Xiamen, Zhengzhou, Zhuhai and Hong Kong, and about 9,500 people in China (including Hong Kong and Taiwan) have obtained the FRM certificate.
FRM has developed extremely rapidly, and has been recognized by Wall Street and other well-known financial institutions and large corporate risk management departments and regulators in Europe and the United States, and has initially become the most authoritative certification in the field of risk management.
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Whether you are self-taught or enrolled in a class, you mainly look at three aspects: personal FRM foundation, economic foundation, and effective learning time!
1. The personal foundation determines whether we take the self-examination or register for the class!
Many people in the FRM exam are non-finance majors who want to transfer to the financial industry, enter the industry with the help of the FRM certificate, and then seek development, which is to have a "stepping stone" effect. If you want to get the FRM certificate as soon as possible, it is better to register for the class.
There are also some that have a certain foundation, but how do we judge the quality of our foundation?
Open the frm question bank directly to do a set of questions, you see if it is difficult, if you have no idea where to start, it is better to choose training, if you find that the topic is not difficult, then buy textbooks, summarize well, and constantly absorb new knowledge points, self-examination is also possible.
2. Certain economic conditions.
One of the unavoidable aspects of applying for a training course is the cost of training. This needs to be within the scope of our consideration, for FRM training, we will launch some preferential activities from time to time, candidates who want to apply for the exam can pay attention to it.
3. Effective study time.
Time is also an important factor in determining whether we take the self-examination or register for the class, and many of the people who are conducting face-to-face courses are in-service personnel, in order to save time, quickly obtain the FRM certificate, and make their career development better.
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The FRM is a difficult self-study exam to complete for the certification of international finance professionals, and the main reasons for this are:
First of all, the FRM exam is based on a new body of knowledge developed on the basis of modern financial risk management systems, and now the risk management method based on VAR and stress tests was developed in the late 90s and is rapidly evolving. Whether it is a textbook of a domestic university or an introductory book in a bookstore, it is difficult to cover all its contents, and it is even more difficult to keep up with its latest cutting-edge developments.
Secondly, GARP does not have a full-time examiner, and all FRM exam questions are jointly completed by selected FRM holders from all over the world, so the focus and difficulty of the FRM exam and the style of the questions change greatly from year to year. If you only do some past papers and so-called "mock questions", the effect is not very obvious.
In addition, the materials we use now are generally handbook, notes, core reading and the like, these kinds of materials are a must, it is worth mentioning that handbook is the top priority of the FRM exam, so you must review it well, the second is the notes exercises, you must do it well!
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You can study by self-exam, but it will be more and more difficult to the back, if you have poor self-control or the school has too many affairs to delay your learning and affect the exam, hang up, and re-apply for the exam is about 1000**, you can just start self-study first, and then choose to study with online classes depending on the situation, if you hang more times In fact, it is almost the same as buying an online course**. In addition, taking the acca exam is really a lot of money, if the family is really burdened, don't go into the pit.
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FRM is a new body of knowledge based on modern financial risk management systems, which were developed in the late 90s and are constantly changing.
Whether it is a textbook in a domestic university or an introductory book in a bookstore, it is difficult to keep up with its latest cutting-edge developments. The FRM system is derived from financial engineering, which is the core of the financial industry - financial engineering, and in the foreign teaching system, risk managing, evaluation, risk models, quantitative are courses offered at the master's and doctoral levels, and it is difficult to study in depth in the teaching system in Chinese mainland, and there are only a few universities in China that offer financial engineering, such as Xiamen University, Peking University, Renmin University, and Nankai University.
1. Close contact.
The content of the FRM exam is closely related to the industry's risk control practices; Most of the exam questions are practical problems in the industry, and the more than 9,000 pages of the learning reference material Corer EA Dings is a good reflection, and most of the members of the exam question team are industry experts with both theoretical knowledge and practical experience. The FRM exam is different from the CFA exam, which assesses the breadth of knowledge, and the FRM exam tests more practical experience in risk control and has a high degree of professional sophistication.
If the candidate's understanding of international risk management practice is not deep and comprehensive enough, not to mention that it is difficult to answer the exam questions, it is difficult to understand the exam questions, while the FRM level 1 focuses on the assessment of theoretical knowledge, which is relatively simple and 40% of the CFA knowledge system.
2. Topic**.
The focus and difficulty of the FRM exam and the style of the questions change greatly every yearBecause GARP does not have a full-time questioner, all FRM exam questions are selected by the world's top 5% FRM holders, so the focus and difficulty of the FRM exam and the style of the questions change greatly every year.
It is impossible to cultivate good and effective test-taking skills and techniques just by doing some old real questions and the so-called "real mock questions" that are mixed in the market. Therefore, no matter what kind of educational background or work experience FRM candidates have, it is very necessary to choose a training institution with strong teachers, professional research and development, and serious service. Of course, it is accompanied by carefully prepared materials.
Perfect! 3. Summary.
As a highly valuable certificate in the financial industry, the difficulty of FRM certificate is self-evident, it involves quantitative analysis, market risk, credit risk, operational risk, investment risk, accounting, law, and other fields.
In recent years, it has received more and more attention and favor, and the number of candidates applying for the FRM exam has also increased year by year. There is also a storm in China, and reference personnel are all over the country. Regarding whether the FRM exam is suitable for self-study preparation or professional training, the director of the Shanghai chapter of GARP mentioned in a speech:
To put it bluntly, the FRM is an international financial professional certification exam that is difficult to complete by self-study.
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Because no one put the cattle and sheep in the house.
Just kidding. According to Gordon, there are several reasons why it is not recommended to study the FRM on your own.
1. The FRM exam is difficult.
The FRM exam is difficult, and the pressure of self-study is too great.
Second, the FRM exam is costly.
The FRM application fee plus registration fee is very expensive. The economic losses caused by failing the course are very heavy.
3. The particularity of the FRM scoring criteria.
The FRM exam does not mean that you pass a certain score and you pass the test, but you have to compete with other candidates.
If you don't pass 60% of the exams, you have a good chance of failing.
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In the field of finance, the difficulty of the FRM Financial Risk Manager exam is obvious to all, and the passing rate of the FRM exam is not very high every year, but this does not stop our enthusiasm for taking the FRM exam. Today, we will take a detailed look at whether self-learning FRM will be smooth and easy to pass?
The difficulty of self-learning FRM.
The selection of FRM exam review materials is very important, and FRM senior sister recommends for everyone: FRM's new exam preparation materials (including practice questions and mock exam questions)!
1. There are a total of nine subjects in the Financial Risk Manager exam, each subject is different, and the exam content is also very large, please check the FRM exam content! The large number of knowledge points and the lack of logic make it difficult for many candidates to review effectively, whether it is the FRM Level 1 exam or the FRM Level 2 exam, which is difficult for many people to understand.
2. The FRM exam is difficult in terms of content, and another problem for us to study on our own is time. It undoubtedly takes a lot of time to review and prepare for the FRM exam, but usually our candidates don't have that much time, which also makes it more difficult to pass the exam.
3. The problem of personal learning efficiency, among the candidates who prepare for the FRM exam, there are many candidates who have enough time but do not pass the exam. Most people waste their review time because of their low learning efficiency and inability to effectively use their preparation time, playing with their mobile phones, reading other books, etc., or encountering problems in revision!
Who should learn FRM on their own:
In fact, it is very simple, that is, those who can overcome the above problems can try to learn FRM by themselves, have a good foundation in finance and English, have enough time or pass the CFA Level 2 exam, etc., can study FRM on their own, but it is still recommended that our candidates can watch FRM live classes, open classes, etc.
Do you want to enroll in a class to learn FRM?
Although the FRM exam is more difficult, if you review it properly, you can pass the two-level exam in half a year or pass the two-level exam in one year. In fact, whether we are in college or on the job, we want to pass this exam relatively quickly, accumulate work experience and obtain a certificate.
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