How can I finish three handbooks of P2 within 2.5 months?

[FRMStrawberry]

A little bit worried about that I cann't complete all the readings within 2.5 months.
I guess I can only spend 15 to 20 hours per week on the study.

I have passed P1 this May and have solid quant background and am working as a quant.
Still I am afraid that I don't have enought time to prepare for the exam.

Any tips on this? It seems Jorion and Hull's readings are the most important part.
Could anyone give me some good suggestions on how to skip some of the reading?

Thanks a lot.

 

[Hend Abuenein]

You don't need to skip read, you need to concentrate your study hours and make the best of them:
1- disconnect from distracting social media, unless you really need it
2- forget about real social life for these coming months
3- invest in some good study notes that skim the curriculum for you
4- do at least 4 hours of daily studies
and most importantly:
5- don't procrastinate

Good luck

 

[FRMStrawberry]

thanks,Hend.

I have bought David‘s notes. I plan to study 2 hours per day on working day, and try to study for about 10 hours on weekend.

Hope I will be able to complete most of the reading before the exam.

 

[ShaktiRathore]

Its not a better idea to skip readings because all the readings are important because its likely that all the topics are covered in the exam. Even if you have not been able to read some of the reading due to lack of time than i would advise you to just skim through and see some of the main points and formulae from the readings.
Now managing time is important if you want to get sometime for studies. You will get ample time on weekends but you can atleast snatch 1 -2 hrs per week days. even if you snatch some 7-8 hrs from weekdays and study 12-15 hrs on weekends you will have 20-25 hrs per week which is enough provided you have 2.5 months for study. After all it depends on you how fast you grasp the concepts and learn the material. Given your strong background i think you can sail through following the schedule i have mentioned above.

thanks

 

[FRMStrawberry]

thanks,I will try to arrange my time appropriately.
Good luck to all of us.

 

[ShaktiRathore]

Yes good luck to all the people on this forum who are giving the FRM Nov exam this year. May all you pass with flying colors.
Looking from my side when I sat for the exam last year I was really intimidated with the amount of formulas one has to remember and the technicality of the exam makes it more difficult. There was pressure on my side to pass both the cfa L1 and frm part1. i really took it as a challenge and studied hardly to clear both of them.
I would advise anyone taking the exam to relax and be regular in their studies. For any gap of even 2-3 days can get you out of touch of your studies and the rythm. Rythm is important in studies so that once its sets in you can go on for a smooth ride and enjoy it. Dont get hurried up and take your time for understanding the theory and the formulas. And in exams dont loose your cool and be confident.
Again best of luck and best wishes from my side to anyone taking the exam this year. Thank again cheers

 

[David Harper CFA FRM]

FYI, we are posting brief articles along with the Focus Reviews; they appear in the Study Planner, but also above here in David's Notebook. So far, Part 2:

• P2.1st /8 - Market risk
• P2.2nd /8 - Market risk (cont)
• P2.3rd /8 - Credit risk

These are "ruthless" summaries, you need to know way more but i hope these at least identify the "time traps:" from a pragmatic perspective (pass the exam), time traps are deep domains with low testability. For example, Dowd's non-parametric HS is technically dense but probably will receive shallow test treatment, so when time is the key driver, it's not a place you want to wallow in. Another example is EVT POT (GPD) calculation: despite the formula being an AIM, it's not something i would memorize unless time is a luxury (as above). Hope that helps, thanks,

 

[Suzanne Evans]

FRMStrawberry,

Incase you need advice on how many hours are recommended for preparation, I'd recommend the following links:

https://forum.bionicturtle.com/threads/how-much-time-is-required-to-prepare-study-for-the-frm.4980/
http://www.bionicturtle.com/faqs/category/frm-product#is_200_hours_enough_to_prepare_for_the_exam

I hope that helps.

Thanks,
Suzanne

 

[FRMStrawberry]

Hi Everyone,

I still have one book left, which is the investment risk. This is the most strange material to me. I think I should read each lines in this book carefully, but I am afraid it will be very time consuming to complete it. Also I haven't started doing the practice exam. I am kind of worried that I might not be able to pass this time.

What will be the best strategy for me within the last month? Will one week be good enough to work on the practice exam? Thanks a lot.

 

[Hend Abuenein]

Hi FRMStrawberry,

Yes It will be enough. Provided, of course, that your coverage of the material was good.

I did that and I passed.
In part 2 practice more on GARP practice exams. That should take about a week.

Good luck

 

[FRMStrawberry]

thanks. Are you sayin the GARP historical practice exams are also very important?
How many years do you go back?
I feel like that I don't cover the material very good because I couldn't memorize any formula except the operational risk formulae.
Anyway, I will try my best.

 

[ShaktiRathore]

hi @FRMStrawberry,
yeah i agree with Hend that one week is enough to cover several practice exams which would suffice. I think if you have covered each and every topic in depth and comprehensively than practice exams are not required. Before my FRM exam prep i did not did practice exams and relied solely on the topics covered and learnt them properly. After all its your call if you are confident enough about the material you have learnt then i think practice exams are not required. Instead you can give time to the topics that you did not understood well or the formulas or revision in the last week.

thanks

 

[FRMStrawberry]

thanks a lot for the response. I will try my best to cover as much as I can.

 

[David Harper CFA FRM]

FRMStrawberry As a very general guideline, I like GARP Practice questions three years back and never older than 2007; e.g., currently, I like 2011, 2010 and 2009. There are two problems with 2007 and prior: the imprecision + error rate is quite high (e.g., duration of 10-year coupon bonds are assumed to be 7.0 years, an assumption we would never make in modern FRM) but more importantly, the precede the FRM exam's split into P1 and P2. Thanks,