Exam: Operational Issues

[Johnny Firpo]

Hi,
to prepare for the exam I think it is very useful to know what we can expect there in regard to "operational issues".

1. Do we have to make our calculations (or maybe diagrams) directly on the Exam Question Sheet or do we get some paper? To be more concrete: Will the exam look like exactly as the GARP Practice Questions and do I have to make the calculations on these sheets or will there be additional space?

This may sound strange but to my mind it is very important in terms how to organize the exam calculations. At home I am used to have enough space in my scratchpad to work through the questions...

2. As time will be very limited: What would you recommend - to your experience - for working through the exam? Only completing answers that you are absolutely sure about while skipping the other ones and give a second round to care about the answers left or to immediately guess the answers where you are in doubt but are able make an educated guess?

3. What are your recommendations for structuring the time of the exam? How much time do you recommend to spend on a quality check, e.g. checking if completed answers are filled in entirely and correctly, that no answers are left, etc.

4. Any further helpful hints?

Thanks!

 

[afterworkguinness]

Hi Johnny,
From experience, you are provided with a few sheets of scratch paper to do your work on, but all answers must be marked on the scantron sheet. Nothing written on the exam paper is graded.

Don't spend too long on a single question, come back to it, after all each question is equally worth 1 point. I recommend marking a "best guess" answer on the scantron if you are not sure and want to return to that question, this you don't mark the wrong box (ie: intended to skip question 10 and return to it, marked answer for question 11 in box for question 10 and didn't realized until later). If you want to change an answer on the scantron you don't erase but fill in your new answer in an "override" box.

 

[David Harper CFA FRM]

Hi Johnny Firpo

In regard to (1), Suzanne Evans located these two threads for you:

• http://forum.bionicturtle.com/threads/exam-logistics.6150/#post-19375
• http://forum.bionicturtle.com/threads/2-issues-with-09-frm-exam.1883/#post-6478

In regard to (2) and (3), I think styles vary. I like very much afterworkguinness 's advice especially "Don't spend too long on a single question." To me, there are at least three essential exam features:

1. Each question has the same weight,
2. There is no penalty for incorrect answers,
3. Importantly, there is no knowable logical sequence to the questions; e.g., an easy Foundations could appear later, a difficult question can appear early

Therefore, my personal strategy under these conditions is

• My first pass tolerates skipping: I like to finish my first pass with plenty of time and having seen all the questions. Invariably, I will skip many questions, but at least I've answered the "low hanging fruit" (so i sort of emphasize speed on the first pass)
• Then I work the skipped questions sequentially, but I still heed afterwork's advice (there is always some question that feels like it can be quicksand for me, I will LET IT GO, esp on the FRM, you can miss several questions and still perform excellently)
• Final 5 minutes or so, I will make guesses (fill in outstanding blanks)

So, my overall idea is to make sure i get time attention on the easiest tranches of questions by not allowing the tough tranche to over-consume my time. I hope that is interesting!

 

[Johnny Firpo]

Hi Johnny,
I recommend marking a "best guess" answer on the scantron if you are not sure and want to return to that question, this you don't mark the wrong box (ie: intended to skip question 10 and return to it, marked answer for question 11 in box for question 10 and didn't realized until later). If you want to change an answer on the scantron you don't erase but fill in your new answer in an "override" box.

Thank you afterwork, very usefull hints!

So maybe a good strategy when you are not sure about a question would be:
(i) make notes, e.g. cross-out wrong answers in the Exam Question Sheet and
(ii) mark the question in the scranton (but maybe not completely full...just as a cross as a reminder. If I am confident with the answer I mark it fully, if not I mark it fully too but use the override box for my final answer?

@ David: Very intersting and helpfull!

 

[afterworkguinness]

Your'e welcome. But don't do ii, that is a recipe for disaster.
The scantron is very finicky, best not to put any marks on it ither than your name and ID in the designated spots and full dark circles for answers. If you want to return to a question just cicle it on the exam paper or draw and arrow to on it the exam paper. Your point i sounds like a good idea.

 

[Johnny Firpo]

Your'e welcome. But don't do ii, that is a recipe for disaster.
The scantron is very finicky, best not to put any marks on it ither than your name and ID in the designated spots and full dark circles for answers. If you want to return to a question just cicle it on the exam paper or draw and arrow to on it the exam paper. Your point i sounds like a good idea.

Maybe I got you wrong?!

I thought you suggested in the previous posting to mark "best guess answers" in the scranton.
Picking this up I thought it would be a good idea - just in order to keep the oversight about all these questions and to be prepared for a last quality check - to just make a cross instead of marking the answer circle fully concerning questions where I am pretty sure but not completely. To clarify: I would not make any notes, but just "indicate" my best guess in a way that I can easily and quickly doublecheck it at the end.

 

[afterworkguinness]

Simply put, don't put half circles or cross on the scantron.