What to refer

[darshang3]

Hi david i am a commerce graduate with little knowledge of financial markets......i m using schweser but m finding difficult to understand some concepts from it....just tell me which material should i go for core readings or schweser.....also m little weak in quants...i have a 2 month time with me to prepare....also do we have to memorize a lot......or just have to read with understanding...


Thanks

 

[David Harper CFA FRM]

Hi darshan,

I don't own (haven't seen) the 2009 schweser. Don't have a view. Since you are their customer, did you try asking them, what did they say?

If you are sitting L1, my recommendation (my $0.02, literally) is:

* Focus (in order, but again, nothing special about my personal bias): Hull, Jorion VaR 3rd, Gujarati, and Tuckman.
(if the samples reveal a bias, it's in favor of Hull)

* And I'd start doing practice questions ... we have a ton of free questions here on the forum ...

* "do we have to memorize a lot…...or just have to read with understanding" I would definitely memorize the foundational Gujarati (e.g., his variance and covariance properties are constantly useful). Beyond that, the reason I like the FRM (the reason I selected it as our first product) is that it does not favor memorization, it definitely favors understanding. The FRM often writes questions that confuse "mere formula memorization." You are better off to cover 50% of the cirriculum with understanding that try to memorize formulas for 100%.

Good luck, David

 

[darshang3]

.” You are better off to cover 50% of the cirriculum with understanding that try to memorize formulas for 100%.....

does this mean that if we memorize all the formulas with understanding their concepts we have covered 50 % cirriculam.....

i m appearing for full exam in nov 2009....will schweser is enough as i only have 2 months...

 

[David Harper CFA FRM]

Did you ask schweser, what did they say?