FRM Level 2 vs Level 1

[Siqueue]

Hi,

Having passed Level 1 (go team!) and feeling happy for at least four hours now, I am coming back down to earth thinking that I still have Level 2 to do.

What is the sense of how difficult Level 2 is versus Level 1? Also, is there more material to cover? I only decided to do Level 1 in mid-April and, while I wouldn't plan on trying to cram that much again, I'm wondering if I should be aiming for Level 2 this November and if so should I start studying immediately? Anyway, I now have a benchmark in Level 1 so very curious to hear how Level 2 compares.

Thanks!

 

[daquity37]

Harder + more material. I would say it took me 3.5 months (every day studying full time) to run through the material. I think you should start now, so that you have time to review and do practice Q's. Overall, there are some parts that are really theoretical and difficult to grasp, especially in credit risk. Mkt risk is not bad. Operation risk has a lot of material. If you start now, you will have plenty of time

 

[aof]

Agree with daquity37. I use only GARP materials (I'm working full-time as a quant risk analyst) and spent around 2.5 months which is not enough to study all materials so I have to skip the current market issue. Part2 Materials are much more than Part1. it's better too start a lot earlier than the Part1.

 

[bpdulog]

Now that I can breathe (yay), I'd like to get a head start on Pt 2 for May of next year and read purchase one of the books. Is there one you would recommend? It seems like Dowd, Jorion and Hull readings dominate the curriculum

 

[Delo]

Part II was by far one of toughest exam I gave. Excruciating amount of material. Start early. I do want to capture some detailed observations for Part II. Will post over weekend.

 

[farahm]

yes please, i'd love to know @Delo !

 

[Delo]

@farahm posted some Part 2 thoughts here
https://forum.bionicturtle.com/threads/may-2016-part-2-exam-feedback.9610/page-16#post-43481

 

[Siqueue]

@farahm posted some Part 2 thoughts here
https://forum.bionicturtle.com/threads/may-2016-part-2-exam-feedback.9610/page-16#post-43481

Well that was certainly exhaustive! Many thanks for that it was very helpful.

 

[fjc120]

Sounds Like I don't have enough time...Should I go for it (part 2) in November? Maybe hold off until May and give myself more time? Although I passed part 1, it was an exhausting four months of both GARP books (full read) and BT practice questions and I still felt I wasn't ready enough. Although I passed, It was definitely close and I may not be as fortunate with so little time for part 2. I work full time as most of you do and I'm in the middle of renovating a house as well. yikes.

 

[farahm]

Sounds Like I don't have enough time...Should I go for it (part 2) in November? Maybe hold off until May and give myself more time? Although I passed part 1, it was an exhausting four months of both GARP books (full read) and BT practice questions and I still felt I wasn't ready enough. Although I passed, It was definitely close and I may not be as fortunate with so little time for part 2. I work full time as most of you do and I'm in the middle of renovating a house as well. yikes.

the past few months have been exhausting to say the least, no one should expect this to be easy .. I'm going for part 2 in november. I also work full-time and life happens in the midst of all this. I say just do it, power through the next few months and it will be worth it once you pass !

 

[fjc120]

the past few months have been exhausting to say the least, no one should expect this to be easy .. I'm going for part 2 in november. I also work full-time and life happens in the midst of all this. I say just do it, power through the next few months and it will be worth it once you pass !

Thanks farahm, do you recommend full GARP books and BT the whole way or incorporate a little schweser?

 

[farahm]

Thanks farahm, do you recommend full GARP books and BT the whole way or incorporate a little schweser?

I do recommend the GARP books but I did have to do my own "research" on certain topics.. and BT of course. Personally, I didn't find the time to incorporate Schweser. I do notice that some prefer using BT and Schweser and skip the books... I prefer reading the books in fear I will something. So far for part 1, BT and GARP books worked for me.
Hope this helps!

 

[farahm]

miss* something

 

[farahm]

Part 2 candidates if you can answer this: do you recommend starting with market risk and on to credit risk ?? what order is best? It seems credit risk is the tough one...

Thanks!

 

[adityakaul]

If you are a finance major then FRM Part I is almost as similar & easy to pass.
However, passing FRM Part II needs advanced undergraduate coursework like Market Risk Analysis & Credit Risk Analysis & Basel III to save time.

 

[Yashas Bhat]

@farahm posted some Part 2 thoughts here
https://forum.bionicturtle.com/threads/may-2016-part-2-exam-feedback.9610/page-16#post-43481

Hey, I was wondering whether it's feasible to give both FRM Parts 1 & 2 together.. I want to register for the May 2017 exams for part 1 or 1 & 2, whichever option i choose...

Background is that I just got done with my CFA level 3 this June 2016 and am a CA (Indian CPA) as well.

 

[Nicole Seaman]

Hey, I was wondering whether it's feasible to give both FRM Parts 1 & 2 together.. I want to register for the May 2017 exams for part 1 or 1 & 2, whichever option i choose...

Background is that I just got done with my CFA level 3 this June 2016 and am a CA (Indian CPA) as well.

Hello @Yashas Bhat

You may find this forum thread helpful in answering your question about taking both parts on the same day: https://forum.bionicturtle.com/threads/should-i-sit-for-both-parts-on-the-same-day.7922/. This has been discussed in other areas of the forum also, so if you use the search function, you should find other discussions. Hope this helps!

Nicole