Exam Feedback November 2018 Part 2 Exam Feedback

[lukakek]

This is ridiculous. GARP rejected my work experience and said that's unrelated to risk. I had been an auditor for 2 years and they said what I wrote was irrelevant. I thought they had a sort of guideline that specifically stated auditing counts towards the work experience requirement.

I am frustrated as well. I work in operational risk (my role is even called Operational risk manager) for 3 years and they rejected my experience saying it is not related to financial risk but to operational risk. Why do they put operational risk in the curriculum, when they do not accept the experience

 

[anirudhjay]

Hey everyone,

First off, congrats to those who've been certified FRMs!

I was wondering though, what's like likely passing mark for FRM Part II, going by your individual experiences? For example, when I took FRM Part 1, I was certain I scored no more than 65/100 (or if you stretch it, maybe 70/100, but I already knew which questions I got wrong). I got a 2/2/1/1.

I am seeing people with 3/2/3/4/2 and 2/2/3/4/4 passing FRM Part 2. What would the likely pass mark be? 50/80? Perhaps 45, or even 40?

Hope you folks are able to share your personal experience wrt this.

I was expecting close to 50%. However I did blindly guess about 17 questions. I must have scored in the range 37-43 in my opinion. Ended up with 2,2,3,1,2. Passing cut-off is anyone's guess, but my 'guesstimate' would be a number close to or even below 40.

 

[anirudhjay]

I am frustrated as well. I work in operational risk (my role is even called Operational risk manager) for 3 years and they rejected my experience saying it is not related to financial risk but to operational risk. Why do they put operational risk in the curriculum, when they do not accept the experience

This is indeed inconsistent and completely unexpected. I hope there is a process to challenge such decision making. If there are FRM Charterholders with similar work experience (say, at your workplace), then you might have an even stronger case for contesting this.

 

[dkshah1412]

This is indeed inconsistent and completely unexpected. I hope there is a process to challenge such decision making. If there are FRM Charterholders with similar work experience (say, at your workplace), then you might have an even stronger case for contesting this.

and i thought experience submission is just a formality...now even the experience approval is keeping me on the edge...anyone who had submitted experience post 3rd Jan and is approved?...i had submitted on 8th Jan and i think it going to take ages...

 

[anirudhjay]

Certified just now! Experience submitted at 0030 hrs EST on 4th January.

 

[Seamus]

I am frustrated as well. I work in operational risk (my role is even called Operational risk manager) for 3 years and they rejected my experience saying it is not related to financial risk but to operational risk. Why do they put operational risk in the curriculum, when they do not accept the experience

Wow....my submission was rejected due to the exactly same reason...FYI, my experience was rejected in the first week of February and I thought the rejection was isolated with me.

 

[IB_frm]

I am frustrated as well. I work in operational risk (my role is even called Operational risk manager) for 3 years and they rejected my experience saying it is not related to financial risk but to operational risk. Why do they put operational risk in the curriculum, when they do not accept the experience

now I'm a bit worried again - actually had been in contact with GARP before signing up for the program mentioning that most experience should fall in operational risk and explaining my experience in detail ..and they confirmed that my experience qualifies for the FRM program. actually that was a prerequisite for me to even enroll. So hope that didn't change from last year to this year.
...still waiting *fingers crossed*

 

[cfa2015]

now I'm a bit worried again - actually had been in contact with GARP before signing up for the program mentioning that most experience should fall in operational risk and explaining my experience in detail ..and they confirmed that my experience qualifies for the FRM program. actually that was a prerequisite for me to even enroll. So hope that didn't change from last year to this year.
...still waiting *fingers crossed*

There is no reason for them to reject Operational Risk experience, it is a major part of the curriculum. I have 10 years of Derivatives experience now and risk management is not explicitly mentioned in my job description but the purpose of derivatives is to manage risk. More than 50% of the curriculum is derivatives. If they reject mine I will be disputing it.
From my history of past certifications. My Chartered Financial Analyst experience was approved in 3 weeks, my Certified Public Accountant experience in 4 weeks and my Certified Internal Auditor experience in 2 weeks. From my emails with GARP I think they have a new person in their shop who has no idea what to do. Very unorganized!

 

[rahulkp28]

I am frustrated as well. I work in operational risk (my role is even called Operational risk manager) for 3 years and they rejected my experience saying it is not related to financial risk but to operational risk. Why do they put operational risk in the curriculum, when they do not accept the experience

Not sure why they would reject your experience. Since I know people in this forum itself whose operational risk experience got approved.

 

[cfa2015]

Has anyone who submitted their work experience on January 6th heard back from GARP?

Thanks

 

[anirudhjay]

Yet another extremely useful thread I found here on Bionic Turtle, hands down the best for anything and everything FRM relevant: https://forum.bionicturtle.com/thre...erp-can-be-found-in-the-garp-directory.14001/

 

[dkshah1412]

Has anyone who submitted their work experience on January 6th heard back from GARP?

Thanks

Did you receive approval for your experience submission.....based on yours...i can gauge when i can expect reply from GARP

 

[IB_frm]

finally certified - submitted 5th Jan about 7pm CET

 

[cfa2015]

finally certified - submitted 5th Jan about 7pm CET

Congrats! I submitted on the 6th so may be I will see some action soon.

 

[cfa2015]

Did you receive approval for your experience submission.....based on yours...i can gauge when i can expect reply from GARP

No response as yet.

 

[Yairw]

Has anyone who submitted their work experience on January 6th heard back from GARP?

Thanks

I submitted on January 6th and got certified right now!

 

[cfa2015]

I submitted on January 6th and got certified right now!

Congrats Yairw. I got certified too a couple of hours back.

 

[nikic]

Just wondering, how many hours did you guys put into FRM Part 2? Is 150 hours (with solid understanding of risk concepts otherwise) sufficient for a Pass? What study technique do you recommend for someone pressed for time?

Thanks!

 

[FreemanMI]

Just wondering, how many hours did you guys put into FRM Part 2? Is 150 hours (with solid understanding of risk concepts otherwise) sufficient for a Pass? What study technique do you recommend for someone pressed for time?

Thanks!

For part 1 i studied around 300h, for part 2 i studied 200h, and for part 2 i got 2,2,1,2,1. But of course it all depends on you..if you can memorise all theoretical part fast, then maybe you will need a bit less time. For both parts i read all books first, then i re-read them, and the most difficult topics i read at least 3 time. Later last 2 weeks i just did sample exams & reading again the parts i scored worse

 

[Flashback]

Layer of reading (I used only Schweser), layer of practicing (I used GARP portal tests and BT questions and quizzes), then repeat the process couple of time until you’re able to solve GARP mock with at least 80 % and BT Mock with at least with 70 % under the time limit. If you’re able to do so, you might pass like a charm.