FAQ Before Exam Resources for refreshing math skills

[Nicole Seaman]

Hello,

I will try and keep this short. I am interested in FRM but the math/quant is extremely intimidating. I have always been bad at math and the only math I know is, what one can call, GMAT level math, which is quite basic.

So where should I start ? Or should I just not bother with FRM.

Hello @hnoorshn

I moved your question to this thread, which provides a good deal of resources for refreshing (or learning) math skills. You may also find this forum post helpful, as other members have provided information on their study plans: https://forum.bionicturtle.com/threads/study-plan-guide.8670/#post-36255.

I hope this helps!

Nicole

 

[Dragos G]

Hello all,

I'm really glad that I have found this great community via your YouTube videos.

Issue:
I have stumbled across the materials and I have some worries regrading my math & statistic skills.

Background:
I am a business analyst at an investment bank, working directly with financial engineers on pre-trade & regulatory applications for structured products

I want to take the FRM because I think:
- it will help me to understand better the business I'm in
- it will me give a great overview of the financial sector and of the problems that might arise. Identifying and understanding problems means business opportunities
- it will force me to go again through algebra, calculus and statistics. this is useful because I plan also to go into data science

I have a basic understanding of options and futures. I'm ok with algebra. I can understand PV and FV. I understand probability. I understand ST DEV & volatility

My question is if I should jump straight at taking the Nov. exam and preparing with the materials from here or should I brush my math skills before (algebra, calculus, stats and probabilities - it will take me 3-4 month) and take the exam in may 2021?

I don't have any time constraint and I'm doing this just because I want to understand the things better

Many thanks in advance!

Dr. G

 

[antogiar]

Don't know if FRM will be useful for you and if GARP accept your current working experience and acceptable.

Steeping aside from that I Think that math for the FRM are not that difficult as you think. nothing more than PV, FV, Statistics, option pricing, BS, different ratio etc etc.

You can definitely go for Nov 20 and I recommend you BT study materials

 

[Dragos G]

Don't know if FRM will be useful for you and if GARP accept your current working experience and acceptable.

I have experience as a trader and as a counter-party risk analyst also and I'm not that interested to get that FRM designation. All I'm interested is to have a better understanding and to be enrolled in a study process

 

[Nicole Seaman]

Hello all,

I'm really glad that I have found this great community via your YouTube videos.

Issue:
I have stumbled across the materials and I have some worries regrading my math & statistic skills.

Background:
I am a business analyst at an investment bank, working directly with financial engineers on pre-trade & regulatory applications for structured products

I want to take the FRM because I think:
- it will help me to understand better the business I'm in
- it will me give a great overview of the financial sector and of the problems that might arise. Identifying and understanding problems means business opportunities
- it will force me to go again through algebra, calculus and statistics. this is useful because I plan also to go into data science

I have a basic understanding of options and futures. I'm ok with algebra. I can understand PV and FV. I understand probability. I understand ST DEV & volatility

My question is if I should jump straight at taking the Nov. exam and preparing with the materials from here or should I brush my math skills before (algebra, calculus, stats and probabilities - it will take me 3-4 month) and take the exam in may 2021?

I don't have any time constraint and I'm doing this just because I want to understand the things better

Many thanks in advance!

Dr. G

Hello @Dragos G

Please note that I moved your question to this post, where we have posted some great links to refresh your math skills. There is also a great deal of discussion within this thread that may be helpful to you.

 

[Dragos G]

Thank you for your help, Nicole.
I've already started to work my way up using some resources from this thread.

See you soon!

 

[Nicole Seaman]

This was posted in another thread in the forum and provides some good resources. I will also add these to the main list in the original post in this thread.

David:

I'd recommend three textbooks for the math/statistics section:

1. Calculus by Larson, Hostetler, and Edwards. I used this book for three semesters in college and it is an appropriate blend of application and rigor.
2. Mathematical Statistics with Applications by Wackerly. This was the assigned textbook in a mathematical statistics class in college, and it is a great, rigorous introduction to calculus based statistics. My only issue with it is that is relatively light on econometrics related material, and a FRM candidate/practitioner would be better served by a dedicated econometrics textbook for these topics. Also, the book does tend to assume that the reader has had exposure to an introductory course in proofs/set theory, so there's that.
3. Undergraduate Econometrics by Hill, Griffith, and Judge. This is just a wonderful introduction to econometrics in a (relatively) painless manner. Since it is a text geared towards undergraduate Economics students, it does not cover more complicated models (i.e. GARCH, ARCH, ARIMA) in nearly as much detail as the GARP material and it does not address issues more common in financial data sets.

As for more generalized finance texts, I highly recommend any edition of the graduate level version of Investments by Bodie/Kane/Marcus , and Damodaran on Valuation is a wonderful reference to have on hand.

 

[ROXANNEBRUMMER]

Hello Everyone,

I am new to the Forum and to the FRM, I was wondering if anyone has any recommendations on the following?

I have purchased the following textbook using the forum to help me improve my knowledge in statistics as recommended in the Forum - Understanding Advanced Statistical methods - Peter H. Westfall.

I have however noticed that there is no answer key to the exercises in the back. This therefore limits the learning in the the book to some extent. Do you perhaps know where this can be obtained?

I have emailed the publisher and the University. Thought that this might be something that has come up as a question before considering the recommendation on the Forum.

If there are any other recommendations with regards to a book that will help fill the practical application gap that isn't just all about Mathematical notations it will be greatly appreciated!

Roxanne

 

[JJK]

Hi Team BT

I'm interested in registering for FRM 1 (November exam) and was wondering if you perhaps offer a math prep course that I can register for in preparation for the FRM exam?

Best,
JJK

 

[Nicole Seaman]

Hi Team BT

I'm interested in registering for FRM 1 (November exam) and was wondering if you perhaps offer a math prep course that I can register for in preparation for the FRM exam?

Best,
JJK

@JJK We do not offer any math courses through Bionic Turtle; however, I've moved your post to this thread, which lists different resources that you can use. There is a list of resources in the original post of this thread.

 

[JJK]

@JJK We do not offer any math courses through Bionic Turtle; however, I've moved your post to this thread, which lists different resources that you can use. There is a list of resources in the original post of this thread.

Thank you very much Nicole.

 

[mg30]

Could someone please suggest me some good book for probability which I can read and understand. I gave my FRM part 1 and realised I really need to do more probability as I couldn’t solve 4/5 probability question. Though I had prepared but I just don’t get the basics right and hence the request.

P.S - Book which is available in India.