FAQ Before Exam Do I need the handbook and readings?

[Suzanne Evans]

With respect to handbook and readings, we don’t believe (i.e., we have not found) there is a single good answer for everyone. That’s because it is firstly a function of the individual.

• Some of our customers have passed without using EITHER. But we don’t like to recommend this as a default because: our notes are merely summaries.
• The strength of the HANDBOOK is that Jorion gives a great introduction to MOST of the assigned material, but not all as the handbook has a far less than 1:1 correspondence with the exam. The weakness of the handbook is the quality/relevance of the contained practice/sample questions. HANDBOOK is most appropriate for BEGINNERS and more for P1 than P2
• Are readings needed? Maybe not, but the source is the best way to slowly digest some concepts. I realize it’s not the best help, but the source readings should probably be selected on a case-by-case basis. For Part 1, the most “bang for buck” readings are: 1. Jorion VaR 3rd edition (book); 2. Tuckman Fixed Income; 3. Hull’s derivative text (Hull has EXTREMELY high relevance to the exam; this is the #1 Part 1 text). In conclusion, I believe source readings should be used selectively.

 

[Ryan S]

Hi, I somewhat impulsively purchased Hull's Options, Futures and other Derivatives 8th edition book the other day, used for $180. Since I just signed up for BT, and obviously will be registering for FRM Part I in November, should I return the book? I have a few days left to do it. Wondering if its something I'll want on the side throughout the FRM and just having a career in Risk in general.
Thank you for any feedback on this!
Ryan

 

[David Harper CFA FRM]

Hi Ryan, welcome!

Will you need Hull 8th edition? No. Is the 8th much different than the 6th edition? Nope, 6th is pretty much the same as 7th and 8th!

Will you find it handy and useful? Absolutely. Hull is not really a book about risk, at all. It's really about valuation (i.e., the expected PV of the instruments) rather than the downside possibilities (tails of future distribution). However, it is far and away the most important text for FRM P1 and highly useful beyond that in terms of sheer mastery of fundamentals of its domain. So, if the budget affords, I'd KEEP it Thanks,

 

[ShaktiRathore]

Hi,
Yeah i agree with David, Hull is a great book with almost comprehensive coverage of important concepts relevant to frm exam. I would recommend to anyone giving the exam. I read it before my preparation too and got success. It is a good book dealing with important topics which are very essential to the understanding of risk and is a handy tool. It covers the topics very well and in detail. It would be really a great benefit for anyone having this book on the shelf.

thanks

 

[Ryan S]

Did you read it cover to cover, in that order? Seems like a massive book to read pre-preparation.

 

[ShaktiRathore]

@ryno9181
Yes i read it but i did focused on the earlier chapters which deals with basics and fundamentals. But the later chapters are a bit advanced they do require some time.I just skimmed through the later chapters or read it in one go. I did paid special attention to earlier chapters lie up to chapter 20. later chapters will become easy to understand. I would recommend do read earlier chapters thoroughly and last chapters may require a quick reading. Definitely it will require sometime fr you to go through in the end its up-to you which chapters you consider as important from exam point of view and go through them rather than reading the whole book which s a cumbersome task.

thanjs

 

[afterworkguinness]

Does anyone know the difference between Hull's North American edition and international edition ?

 

[Honey45]

The U.S. edition usually has a hard cover with a different design on it, while the international

Difference between U.S. edition & international edition

What's the difference between a U.S. edition and international edition when you buy a college textbook?

This is the first question that I asked myself when I started my graduate class a year ago. Textbooks are notoriously expensive in this country, and the high tuition fees are not helping either. I started looking into the international edition and found that basically there was no difference except the design of the cover. Seriously, that's the only difference! The U.S. edition usually has a hard cover with a different design on it, while the international edition has a soft cover. I'm not sure if that much of the paper justifies doubling the price of a textbook when the internatonal edition can do the same job.

Students and potential students, don't be afraid to buy international edition! I have used many international editions so far and saved a lot of money. I have no answer to why the U.S. publishers want to charge students in the U.S. more money than those overseas, but I do know that you can ace the exam regardless you are using a U.S. edition or international edition!

Good luck to all your classes!


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