Exactly what is sufficient study material.

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I have seen reference to this question previously but not a definitive answer.

For example I have two resources currently, Bionic Turtle and the FRM handbook. I would probably be considered a strong candidate given my background.

Is this enought? Schweser, I don't even want to talk about, they have the unique ability to take all the joy out of interesting topics. I also find their notes dumbed down and verbose.

So how much is enough? (What about the original readings themselves).

B.

 

[David Harper CFA FRM]

b.mahon,

Although I am biased, can I weigh in, only b/c i've thought about this a lot?
(Thank you for maybe implying we might take some joy in the topics).

In my opinion/experience:
The first issue, that reflects a difference between (eg) CFA and FRM in current states, is that the dynamic/immature methodology employed by GARP for the FRM renders a "what is sufficient?" threshold less objective and maybe even subjective. I mean, because prediction against the actual exam has a wide range, to become sufficiently prepared (IMO) implies you must over-prepare. Or, more likely, more to the average, adequate preparation meets a tough exam and the "grade on a curve" gives an unexpected pass. In short, sort of like a fund strategy evaluated against a benchmark rather than absolute returns, relative performance is a determinant and therefore makes an ex ante threshold (what is sufficient?) harder to define.

The second issue, and I think this is more generic and less FRM specific, is based on my observations over the years: an individual's current knowledge and practical time constraints are important. I think I have always maintained that the original (source) readings, by themselves, are sufficient; in theory, I still think that is true. The problem is that mastery of the source readings takes much more time than most people have (I am thinking of Tuckman's fixed income. It is an amazing, amazing text in my view, deceptively deep with years of learning legs … key rates could take up a semester if you let it). Given this, I find the more common error is to overbuy the resources and then subsequently not nearly find the actual time to consume the resources. Where did i get this impression? From innumerable emails by customers who were relieved to pass, after their original, ambitious study plan met with reality, such that they felt unprepared in absolute terms, yet passed the exam (in relative terms). So, on this issue, I guess I am advising: reverse-engineer from your practical time constraints (maybe less planning forward from a huge resource stack)

FWIW, re the FRM Handbook: Jorion is the author, so my summary view is (i) the content is terrific (eg, Chapter 1: is there a finer short introduction to bond duration math anywhere? I don't think so...) although (of course) not 1:1 with the exam, so best viewed as a source supplement and (ii) I am not a fan of the practice questions (Jorion did not write these); the relevance varies (because the recency varies) and we have located far too many mistakes. Hope that helps

David