FRM 2008 results ?

[pratikmhatre]

I got section wise analysis too.

Credit Risk Measurement and Management

You scored in the 1st Quartile in this category. Candidates scoring in this quartile demonstrated a strong understanding of the subject area. These candidates scored in the top 25%.

Market Risk Measurement and Management

You scored in the 1st Quartile in this category. Candidates scoring in this quartile demonstrated a strong understanding of the subject area. These candidates scored in the top 25%.

Operational and Integrated Risk Management

You scored in the 1st Quartile in this category. Candidates scoring in this quartile demonstrated a strong understanding of the subject area. These candidates scored in the top 25%.

quantitative Analysis

You scored in the 1st Quartile in this category. Candidates scoring in this quartile demonstrated a strong understanding of the subject area. These candidates scored in the top 25%.


Risk Management and Investment Management

You scored in the 1st Quartile in this category. Candidates scoring in this quartile demonstrated a strong understanding of the subject area. These candidates scored in the top 25%.

Looks like I finish in all categories in top 1 st quartile.

Did we get % score ?

 

[shuihongwong]

Hello all,
I just got them also this morning.
This is the breakdown:
Credit Risk Measurement and Management: 2nd Quartile
Market Risk Measurement and Management : 1st Quartile
Operational and Integrated Risk Management : 1st Quartile
Quantitative Analysis : 1st Quartile
Risk Management and Investment Management : 2nd Quartile

I don't have the % score and I am not sure the passing rate for the 2008 FRM exam also.

Philip

 

[pratikmhatre]

shuihongwong : congratulations !


David :
Do you know if GARP tell us % pct score?

 

[sameer3]

Philip,

3982 people seem to have passed the FRM 2008 exam. As per the email from GARP, There are 17667 people in the "unique group" now as compared to 13685 people last year.
13681 had registered for FRM 2008. Seems like a 33-34% pass rate to me.

 

[shuihongwong]

Sameer3: Thank you.
frmquant: Congratulation to you too!

Currently, I am unemployed and don't have any solid job leads yet. I already passed all levels of the CFA exam and I just want to do something more productive. I have already enrolled in the CIPM level I exam and I am thinking of the Chartered Alternative Investment Analyst (CAIA). I tried the sample exam for level I and it is relatively easy. I like the level II material though. But it is very expensive - Schweser material costed $599 and exam & registration fee costed $1,400 for the March level I exam. I used to work in investment bank's middle office doing and validating trading desk (FI and derivatives) daily pnl and reserves.

Any comment is welcome!

Philip

 

[pratikmhatre]

shuihongwong : I work as desk quant and trading support at hedge fund and volatile time is really killing me..I do not think any certification like FRM , CFA et going to help as foundation of finance is shaken..

I am also planning to take PRM rather than going for CAIA as it is less known ...

 

[shuihongwong]

frmquant: Thanks. We make you think PRM can benefit you in the killing job environment and you already earned FRM. Would that enhance your risk knowledge or perception of competence? What are the costs including exams and preparation material.

Philip

 

[nitinmaheshwari]

hi

i have cleared frm 2008

In 1st quartile in Quantitative Analysis , market risk and Risk Management & Investment Management
and 2nd quartile in Credit and ops risk.

So is this a good score

 

[pratikmhatre]

shuihongwong : I asked David about PRM in addition to FRM but he thinks it will not add value. He suggested to go or CFA ( which I am in mid-way already) .. and fin engg ( which I have already done while ago )

PRM material seems very large ( 4 thick books ) costing around $400
We need to clear 4 exams each costing around $300

By the time FRM 2008 results are declared , I have already forgot a lot stuff from credit risk etc as I donot use it on job. that why keeping current PRM may help me ..Also PRM we do not have to pay any annual fees like FRM.

Any idea GARP chapter meeting are useful ? any idea ? have u attend in past ?

 

[shuihongwong]

frmquant: Thanks. I have never attended the meeting but it might be useful for networking.

I have found an interesting blog for FRM verse PRM information: http://www.analystforum.com/phorums/read.php?1,359769

It seemed to me people had good thoughts about PRM.

I am surprise how competitive it is in quant field. People such as you already got fin eng and half way through CFA plus FRM ... PRM. I wish I can get into some lesser quant field or hybrid ...!

Friend of mine worked as a director of risk in commodity trading, he just got an dual major undergraduate degree in finance and accounting but he has more than 5 years of physical and trading background and making pretty good money. (He doesn't consider FRM because he thinks that's too time and effort consuming.)

It seemed to me you are either very experienced or very high-end quant.

Philip

 

[pratikmhatre]

Not really . I donot have more than 5 yrs of exp. so certainly notin experienced category!

CIAI ..I myself never had heard before ..so certification point of view I know CFA , FRM , PRM , CPA ..that all!

 

[David Harper CFA FRM]

@frmquant: i think it is only quartile breakdown by discipline, not percentile.

Re FRM/PRM, my views are: 1. much in common; if you have one, no benefit to getting the other, 2. contrary to some assertions, the PRM is not more quant; they are similar in quant, 3. The PRM hasn't been updating annually like the FRM (take that as good/bad however you like), but 4. I was told the PRM has been working on a soon-to-be-deployed revamp of their program (they recently introduced a smaller "associate PRM) so that might be great, I don't know.

Re CAIA, I was approached to do this, but I was surprised at the content frankly (my info is almost a year old, so...). It wasn't nearly the depth/breadth of the FRM. In regard to difficulty, I'd roughly put CFA/CPA at the top, then FRM/PRM, but I'd slot CAIA below those in rigor. for what it's worth.

David

 

[shuihongwong]

David,
Thanks. I tried the level 1 sample exam (100 mc) without any preparation and it was fairly easy for me to attain 70%. In my opinion, the vigor of the exam is far below CFA level 1. However, I did spend some time looking into the level 2. I found something that is not offered in either CFA or FRM curriculum. (I agree there are some overlaps among the different programs). For example, either CFA or FRM are not deep enough in the area of hedge fund and managed future as well as quantitative trading and real estate. Well, if we talk about CAIA’s value per dollar and effort might be another story. It is still relatively expensive compared to CFA, FRM or CPA. I am still researching … Just a superficial comparison in terms of the mass of study materials, interestingly, the Schweser materials for both level I and 2 are just 3 books for the CAIA compared to 5 books for CFA and 5 books for FRM.

Here is the linke for the study guide of CAIA: http://www.caia.org/program/studyguides/

Philip

 

[David Harper CFA FRM]

Philip,

thanks for link to study guide. As I look at the level II Study Guide, I see your point (I was too dismissive of CAIA, this level II is newer than the version i looked at). This CAIA has got some in depth material here on alternatives/hedge funds that isn't in the FRM, there are some great topics in here. David

 

[Jatin_117]

Hi
This is my sectionwise breakdown:

Credit Risk Measurement and Management: 1st Quartile
Market Risk Measurement and Management : 1st Quartile
Operational and Integrated Risk Management : 1st Quartile
Quantitative Analysis : 1st Quartile
Risk Management and Investment Management : 1st Quartile

 

[Ened]

Sorry, I don't agree on CAIA discussion. I have done both CAIA and FRM (and I have done some teaching for CFA) and in my experience CAIA level II was much harder to pass than FRM, and it had even much more depth/breadth than FRM in my opinion. CAIA level I was quite easy though.

In regard to difficulty, I’d roughly put CFA and CAIA level I at the bottom, then, FRM, and I’d slot CAIA level II above those for what it’s worth.

Just an opinion

 

[pratikmhatre]

Hi,
CAIA is very expensive and almost nobody knows about it.
Study material as well as fees and anual fees are very high.

Also in financial turmoil the whole idea about hedge funds , trading is going to change

 

[shuihongwong]

Hi,
I like the level II curriculum and for the time being I can use my time productively (unemployed) but it will cost $2,000 for level I and $1,600 for level II for the CAIA. I’ve finished CFA, FRM and CPA ….I am still not sure the marginal benefit verse the costs. Still thinking ...

Philip

 

[Ened]

Are we allowed to use the FRM designation now after submitting the CV with >2yrs experience?

If I read the e-mail correctly I'd say yes:

"Once you have met all of our requirements for certification as a Financial Risk Manager, you are encouraged to use the FRM designation on all of your correspondence and business cards."

 

[pratikmhatre]

shuihongwong : You have very impressive line-up of certificates. Congrats !
I am waiting for my CFA level 1 and thinking for associate PRM ..CIAI is very costly ...
I am also thinking of technical certificates from Microsoft. Technical certificates may help to survive job-cuts and do some coding and cover up monthly payments !! I know somewhat coding in c++...