Any valuable tips to share?

[qin841121]

As above, whether is it preparation or on the D-Day.

Let me start the thread going. For me, I downloaded 2006-2012 FRM practice exams to do. When doing, I managed to sharpen my saw on many concepts (e.g. the formula credit spread=EDF * LGD)

 

[qin841121]

For those who did the paper, did you managed to finish it on time? Heard the time was rather tight

 

[Aleksander Hansen]

I haven't touched any of the GARP exams, but I'll probably do one to prepare, however the time issue is something I also have been wondering about.

I have only been doing David's question on the topics based off the PDFs for 2011 and 2012: whenever i do a question I set a timer for 2min and 20 sec. but I really have to scramble on many of them in order to make it in time; and there have been several instances when I did not finish on time.

For those who have taken Part 1 (and passed):
I know David's question are more extensive but did you find yourself constraint on time during the actual exam?

 

[btlski]

I did mange to finish all the questions, but I needed every last second. Of the 20 or so people that sat with me, I recall that only a couple finished early (maybe 5-10 minutes). I set 5-6 questions aside and had about 15 minutes at the end to review & complete (or guess) them.

fwiw, I was reasonably comfortable with the material and consider myself to be a pretty good (and quick) test taker. I would guess almost everyone will feel the time constraint in some way.

 

[RK17]

Something that is often overlooked on these types of exams is the comfort level with your calculator. I recommend learning the memory features. This way you won't need to worry about rounding since you can store the exact value in your calculator's memory. You also save time by not writing down all intermediate calculations. I.e. you can calculate d1 in the black scholes formula without putting down your calculator.

 

[qin841121]

Actually I am most worried that the calculator will fail me in the exam. I am afraid it cannot be turned on after I enter the exam hall. I am just hoping that my 12Bii plus will at least give me some warning sign before it dies

 

[RK17]

I think you can bring an extra one...

 

[Leli]

I'm not the only one who is affraid by calculator. I have TI BA II + pro because it's easier to change batteries

 

[Hend Abuenein]

One very good skill to acquire while practicing questions that will help you limit time needed for every question is to be able to do multiple-step calculations for a single answer without scratching a single number on paper. Do the whole question without touching the pencil. To do this you really need to get comfortable with your calculator like RK17 said.
This could be easy for people who do a lot of number crunching on the job, but it took sometime for me to master, and it came in very handy for multiple requirement questions that GARP would stun you with at times otherwise every question would need more than 4-5 minutes.

Another, is reading slow enough not to skip GARP's devious double negations (e.g. "least likely not an assumption" sort of thing), but not slow to the point were you need more than a minute of reading per question. I remember that in May 2011 there were several half-page long questions in the exam I think we all wrote to GARP about it in the post exam questionnaire.

I remember filling the last bubble as they called "pencils down". I wished for a few more minutes to double check a few doubts I had.

Practicing on David's questions is a real learning experience, but for the exam, you also need to set a good pace. One of these is not good enough without the other.

Good luck to all of you.

 

[Suzanne Evans]

Maybe purchase new batteries and put new ones in prior to the exam. Hopefully that will ease the worries of them dying on you

Thanks,
Suzanne

 

[qin841121]

Maybe purchase new batteries and put new ones in prior to the exam. Hopefully that will ease the worries of them dying on you

Thanks,
Suzanne

I was afraid to change battery for fear that the new battery may be a lemon and die on me after working fine for a while.

I have been using the calculator for 5 years already and it has not die on me yet. So I am thinking that P(old battery dying)<P(New battery not working)

 

[Aleksander Hansen]

I would say the opposite. Not to stress you out. Both are unlikely but new batteries with longer life, greater stability and superior materials are less likely to fail.

 

[btlski]

You are allowed to bring an extra battery for your calculator:
http://www.garp.org/frm/exam-overview/exam-day-information.aspx

 

[Aleksander Hansen]

What I want to know is whom at GARP thought it was a good idea to start the exam so early in the morning, AND have both parts on the same day instead of P1 on Saturday, P2 on Sunday, starting at 10 am or so, such that I can at least get a good nights' sleep in before the exam.
Thanks a lot to whomever you are.
Can barely afford run to the restroom during the exam.
Two days ago I started getting up at 5am in the morning to condition my body. My preparation productivity approached zero yesterday, and has been low, but a little better today. Hopefully my my body will have adjusted by tommorrow and my head will be clear, so I can get 2 days worth of prep in before the exam.

 

[Jas]

This, in fact, is a very good idea.
Try to bring your body to the clock as required on the exam day. In addition, try to study during the time scheduled for the exam - for a few days prior to the exam day.

Two days ago I started getting up at 5am in the morning to condition my body. My preparation productivity approached zero yesterday, and has been low, but a little better today. Hopefully my my body will have adjusted by tommorrow and my head will be clear, so I can get 2 days worth of prep in before the exam.

 

[Aleksander Hansen]

Yeah, at least that'll work better for me. Otherwise I'd need an IV of coffee before the exam.

 

[LeeBrittain]

Good luck everyone! I am taking part 2 and stopped studying for it this evening after a final review of the notes. I think you either know the material by now or you don't. I'd rather go into the exam with a fresh mind and a few days rest than go in exhausted from cramming non-stop up until the last minute.

I took Part 1 last November and started off on the wrong foot when I tore too many perforations and separated the carbon copy answer sheet from the answer sheet on top (I have no common sense, but the directions were confusing too). This freaked me out as I thought my test wouldn't be graded, but I talked to a proctor when I took a bathroom break and she told me they would take care of it and my test would end up being graded. After that I refocused and plowed through the rest of the exam and finished with 2-3 minutes left.

 

[David Harper CFA FRM]

Nice Lee, totally makes sense to me .... good luck!

 

[qin841121]

Maybe I am too stressed up but I remembered seeing something about FRM exam does not allow eraser and if you shaded the wrong answer, you are supposed to make correction on another piece of answer sheet?

 

[Leli]

Indeed, you can't erase because it does'nt erase carbon below
Don't worry (it's almost intuitive and they explain everything at the beginning of the exam)
You just have to put a letter instead, just a side of bubbles