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PAssed CFA. How can I approach the first FRM hurdle (Part 1)?

Registered for part 1 a while ago, but now everything is cleared regarding CFA results I’d like to start preparing for the FRM part 1 in nov 2017. 

I got the Schweser books, however still need an action plan. 

Expected time im willing to spent: 80 hours. 
Don’t need a sure pass. Just optimize time spent and have a nice time doing it.

Anybody has proven methods to limit reading the actual text, but still pick op the LOSs in enough detail?

Save crucial exam time and configure your calculator with BA II Plus settings.

I passed level 1 last year, I didn’t put in a ton of time relatively speaking.  I don’t track my hours, but would guess 100-150.  I read Schweser as well, it does a fair job summarizing the material.  I probably opened the actual books once or twice for a couple difficult topics, but you can definitely get away without even using them.  You can pass with just Schweser as many have, but it’s risky.  Schweser doesn’t do a good enough job testing you on the actual difficult you will face on the exam.  Based on your time line, if I were in your shoes, I would read through Schweser and get a solid foundation of the material and then buy the lowest level package from Bionic Turtle and just hammer the questions along with the practice test from FRM.  I scored in the top quadrant for 3/4 topics and second highest on 1/4 topics.  I would attribute that primarily to Bionic Turtle practice questions.  That is my two cents, I hope it helps.

Same here. Just passed CFA L3 and will sit for FRM part 1&2 in Nov.

I’ll be 6 months behind you. If I may ask.. why going for the double whammy?

It’s not a “double whammy”. The CFA is equity focused and qualitative (appropriate portolios) and the FRM is quant focused and credit/rate focused. 

3 years from now the question will go from “You have both?” to “Perfect, you have both!”

ChristianHCooper wrote:

It’s not a “double whammy”. The CFA is equity focused and qualitative (appropriate portolios) and the FRM is quant focused and credit/rate focused. 

3 years from now the question will go from “You have both?” to “Perfect, you have both!”

I understand schuilnaam that he doesn’t think CFA & FRM is a “double whammy” but to sit for part I AND part II on the same day. That’s something that I find interesting and quite challenging as well. So I am curious what overcaffeinated is going to answer and how it is going to prepare for two parts at the same time.

Tbh I considered doing the two parts at the same time, you know, to keep it a challenge. Would probably end my relationship though and in hindsight may 2018 is soon enough since I don’t have two years of work experience by then.. 

Two parts right after CFA L3… If you pass. please tell your story.. 
I still have trouble hitting the books again. To much complacency haha. 

It seems there’s a great deal of overlap between FRM Part 1 and CFA. Besides I’m a full-time student now and have plenty time tbh. Don’t think I can make that much time later and really wanna nail both before turning 26.

Sounds absolutely reasonable to me. And I agree that at least for Part I there is a considerable overlap with the CFA curriculum. There is one thing that came into my mind: You do need some work experience within a specified time (I guess it’s five years to earn two years of experience?). Otherwise you will have to start again with part I. As your are a student right now, you have to be sure to achieve two years in risk management/control within the next few years.

Alex74 wrote:

Sounds absolutely reasonable to me. And I agree that at least for Part I there is a considerable overlap with the CFA curriculum. There is one thing that came into my mind: You do need some work experience within a specified time (I guess it’s five years to earn two years of experience?). Otherwise you will have to start again with part I. As your are a student right now, you have to be sure to achieve two years in risk management/control within the next few years.

Did you write part1 after clearing CFA? How many hours did you study for FRM?

No, not really right after. I wrote CFA L3 in 2016 and took FRM part I in May 2017. So it’s not really right after clearing CFA.

I can’t really say how much hours I studied. I started in mid January (when Schweser notes were delivered) and finished to read all the books by end of April so that I had time to practice questions in May. Compared to CFA it was much less time I had to spent for learning (and I therefore was able to practice a lot more than for any CFA level). This was partly due to the overlap with the CFA curriculum and partly due to my work experience. Based on the fact that I started mid January I’d say that I might spent between 150 and 200 hrs (I have two kids and I am therefore only able to learn in the evening).

Just FYI, GARP provides exam providers a high level of detail after each exam and one stat is the same day part 1 and 2 takers success rate is low. Part 2 is a beast and there isn’t a lot of overlap with CFA so that’s the candidate killer. 

The curriculum overlap pretty nicely between CFA 1 and FRM 1 so I really doubt that you will face any issues. Due to this overlap you will in fact have a better understanding and cover up the topics faster than a newbie taking up this course. Start with Quant/Foundation followed by Financial markets and then Valuations and risk models

6 days to go and 100 mildly motivated study hours later im quite happy with the progress. Been scoring 70% on average for mocks.

The overlap between CFA and FRM part 1 is very helpful, but it is also a bit detrimental for your attention span. 

Hoping for a pass and looking forward to start with part 2:)

How are you doing Overcaffeinated?