Here is my view on this.
The CFA questions may not be more difficult than FRM's. However, the volume of the CFA curriculum is huge - around 3,000 pages per exam, compared to 1,000 pages for one FRM exam although in the new FRM books, 1 page is more dense than 1 CFA page. 1,500 pages per FRM exam would be more comparable. That alone, makes the CFA exams more difficult. Perhaps, that is more so if you are new to the world of finance. Consider also the item sets in CFA 2 where you need to read a 2-page vignette in order to answer 6 questions. In CFA 3, on top of that you have to write essay. On the other hand, the CFA curriculum is very well written. The Schweser notes on CFA are great. In terms of pages of text, they reduce the volume by 50% or more, yet they are comprehensive and very clear.
Apparently, some people plan to get both certs. Passing 1 exam semi-annually is my strategy. In July, start preparation for CFA 1 and sit in December. Sit for CFA 2 next June, then FRM 1 in November, CFA 3 next June and finally FRM 2 in November. If you pass all from first try, which is far from given, these are 2.5 years - perhaps the fastest track. But it is tiring. This may consume the better part of your spare time for 2.5 years if you have a full time job (and you better be single!
I have three little kids
) .
If you go through CFA 1 and 2 first, you'll find FRM 1 quite relaxing, because the volume is not so high and more importantly, CFA 1 and 2 cover a great deal of the FRM 1 material. Perhaps 70% -75%. FRM 1 does get deeper in some of the areas, but if you are a good with the math, that doesn't really matter.
Even if you can master the curriculum , sitting for FRM 1 and 2 on the same day might be a nightmare - an 8 hours marathon. Unless, you are very comfortable with the curriculum, or you are still young, this might be a serious challenge to consider. For me, the full day (3+3 hours) CFA exams are rather painful. Maybe that's because I couldn't sleep the nights before but by the end of those days, I was ready to collapse.
Finally, by attempting both parts on the same day, you take the additional risk of failing on both, simply because spending time for Part 2, you may fail to prepare properly for Part 1.
Regards,
Valentin.
The CFA questions may not be more difficult than FRM's. However, the volume of the CFA curriculum is huge - around 3,000 pages per exam, compared to 1,000 pages for one FRM exam although in the new FRM books, 1 page is more dense than 1 CFA page. 1,500 pages per FRM exam would be more comparable. That alone, makes the CFA exams more difficult. Perhaps, that is more so if you are new to the world of finance. Consider also the item sets in CFA 2 where you need to read a 2-page vignette in order to answer 6 questions. In CFA 3, on top of that you have to write essay. On the other hand, the CFA curriculum is very well written. The Schweser notes on CFA are great. In terms of pages of text, they reduce the volume by 50% or more, yet they are comprehensive and very clear.
Apparently, some people plan to get both certs. Passing 1 exam semi-annually is my strategy. In July, start preparation for CFA 1 and sit in December. Sit for CFA 2 next June, then FRM 1 in November, CFA 3 next June and finally FRM 2 in November. If you pass all from first try, which is far from given, these are 2.5 years - perhaps the fastest track. But it is tiring. This may consume the better part of your spare time for 2.5 years if you have a full time job (and you better be single!
I have three little kids ) .If you go through CFA 1 and 2 first, you'll find FRM 1 quite relaxing, because the volume is not so high and more importantly, CFA 1 and 2 cover a great deal of the FRM 1 material. Perhaps 70% -75%. FRM 1 does get deeper in some of the areas, but if you are a good with the math, that doesn't really matter.
Even if you can master the curriculum , sitting for FRM 1 and 2 on the same day might be a nightmare - an 8 hours marathon. Unless, you are very comfortable with the curriculum, or you are still young, this might be a serious challenge to consider. For me, the full day (3+3 hours) CFA exams are rather painful. Maybe that's because I couldn't sleep the nights before but by the end of those days, I was ready to collapse.
Finally, by attempting both parts on the same day, you take the additional risk of failing on both, simply because spending time for Part 2, you may fail to prepare properly for Part 1.
Regards,
Valentin.
