Taking the exam twice by choice

[Hend Abuenein]

Hi David and all,

I've started early on my part 2 exam preparations, but because of my family obligations, I've known from the beginning that it will take me till November to be prepared for the exam. Nevertheless, I registered for May. I'm not gonna be ready, but I figured that GARP change their question policy and the material every year, so if I sit for the May exam, I'll at least get acquainted with real Part 2 questions. And the financial cost of returning in November is affordable.

But ...the issue here, is whether it makes a difference when people (especially employers) know that you sat for the exam more than once.
For Part 1 I had to take the exam more than once, for several reasons out of my control.
Does it really matter? Will I be looked down on as the less qualified FRM because I did every exam more than once?

Thanks

 

[Aleksander Hansen]

Unless you tell your employer you are sitting for the exam in May, they have no way of knowing, right?
If you pass, that's great; otherwise you'll get to prep for the November exam.
It all comes down to whether you feel it is worth it:

1. You may pass, in which case it will have been worth it (I presume), but if you don't pass then;
2. if E{P(Pass in Nov | Fail in May)} > E{P(Pass | November)} under your own measure of expectation/satisfaction/utility, then go for it.

This is just my opinion and take on things, but many companies have employees train for various certifications and courses.
One of my analysts took the ERP last spring. While the analyst passed, the most important thing was what the analyst learned and took away from the process. One can always go back and work on areas that were hard the first time around. Moreover, many jobs don't allow for anywhere close to 100 or 200 hours of prep time.
If you are working, don't expect your employer to care to much about your failing (unless you fail over and over again). The most important thing is that you don't fail at the projects you perform for the company; everything else is secondary.

Oh, and if anyone asks, just be honest and tell them that your family situation precluded you from putting in the necessary hours, but that you felt it was worth getting some exposure. They will understand.

 

[Hend Abuenein]

Thanks Ahansen
Good analysis.