Basic Questions about the organizational procedure

[Backwardation]

Hi everybody,

I'm going for the FRM exam in May and have some (maybe a bit funny sounding) questions concercning the procedure of the exam:

- I'm used to work with the following calculator: Texas Instruments TI-30X II S. Do you know if the GARP-listed Texas Instrument Calculator is some type of product line or is it a specific calculator, so that I will not be allowed to use the above listed calculator?

- Is it possible to drink water during the 4h exam?

- Is it possible to visit the washrooms during the 4h exam?

Thank you for your anserwes & kind regards

 

[RiskNoob]

Hello,

The short answers are ... No, No, Yes

RiskNoob

 

[David Harper CFA FRM]

calculators allowed are here @ http://www.garp.org/frm/exam-overview/testing-policies-and-procedures/calculator-policies.aspx

 

[Aleksander Hansen]

No, Yes, Yes but you have to leave the room to drink water (and obviously to use the restroom).

 

[ShaktiRathore]

regarding your last two Qs,
Yes you can do both according to my experience after asking permission from the proctor if they allow you then you can do either of them and after all it depends on the exam site rules and regulations.

thanks

 

[Backwardation]

Thank you very much for your answers so far. Maybe you can tell me the answer of two further oquestions:

- Hopefully, we are allowed to use some kind of "white paper" for our calculations. Do we have to bring paper by ourselves or will paper and pencil be provided by GARP?

- I have often read that the GARP practice exams are not very representative, since the "real exam" questions are much more difficult. Do you share this impression?

 

[ShaktiRathore]

hi there,
paper will be provided by garp people only that is to say the Question booklet itself has rough papers for doing rough work for calculations etc.
Regarding second Q, Garp Qs do represent the real exam Qs but its possible that they vary in terms of difficulty and details otherwise the concepts covered remains the same.

thanks

 

[Backwardation]

Thank you, ShaktiRathore!

Do you know if there is any publicly known information on how much of the questions have to be answered correctly to pass the exam? (e.g. something like 50%, 70%) An if the questions are equally weighted in terms of points?

Best Regards!

 

[Aleksander Hansen]

1. Equally weighted
2. There is not a certain percentage like 50% that passes. Rather I believe it is calculated as a function of the top x%, excluding the extreme outliers in the 99th or 95th percentile that get everything right.

 

[Aleksander Hansen]

1. Equally weighted
2. There is not a certain percentage like 50% that passes. Rather I believe it is calculated as a function of the top x%, excluding the extreme outliers in the 99th or 95th percentile that get everything right.

And since questions are equally weighted, be sure to pick the low-hanging fruits first (the easy questions), and don't get stuck spending time on harder questions until you have scored some easy points.

 

[David Harper CFA FRM]

Aleks is correct about the methodology and, therefore, I think his strategy logically follows. The pass rate is not ex ante knowable: GARP locates the score at the (top) 5th percentile, then selects a ratio (multiplier) on that score. Hence (minus a couple of outliers) the consistency of below 50% pass rate for P1 (and above 50% for P2). So, it's "grading on a curve" where the curve's anchor is set by the top 5% .... part of the motivation here, frankly, is that the FRM has grown and still evolves so rapidly that unlike the CFA (which is more stable), this methodology relieves GARP of the burden of precisely calibrating the difficulty, beforehand, to match the previous/next exam. thanks,

 

[Backwardation]

That's really interesting and very helpful, thank you!

 

[Rajeev Aggarwal]

calculators allowed are here @ http://www.garp.org/frm/exam-overview/testing-policies-and-procedures/calculator-policies.aspx

Hello, what would you say would be the best calculator to work through the FRM exam. At present I am using Casio FX82MS which has gone faulty and I'd purchase now only a GARP recommended calculator which is either by Texas Instrument or HP. I was thinking if somebody can tell me here which is the best out of the two out of your experience, like which is easier to use/has better user interface, has more functions, more relevant during the exam and may be handy after the exam too. Thanking you all in anticipation! This forum is great.

 

[ShaktiRathore]

Hi,
I would recommend to use the Teaxas BAII plus i have used it myself its been used all through for more than 2 yrs and have done numerous calculations and still working when i have used it for giving my frm and cfa exams. Its really very easy to use and provides all the financial functions.Very good interface and is best to use during the exam. I gave the exams with it and i used it with ease and comfort. All the functions are easily accessible.
thanks

 

[Rajeev Aggarwal]

Ok thanks Shakti. Ordered it and received it too!