Exams are not one of the best things you will come across in life. However, you must face them if you want to reach a certain level in academics. The level or the certification you want will determine the difficulty of the exams. With the FRM exam, however, you must brace yourself. FRM exams are not easy and have a reputation for being tough. However, you can still pass your exams.
Like with any other course, preparation is key for you to pass the test. This is not different from the FRM course. You must prepare adequately for the exams. FRM stands for Financial Risk Manager. Acquiring this designation will place you in a perfect position for various careers such as credit risk manager, operational risk manager, regulatory risk manager, and market risk manager.
But for you to acquire the FRM certification, you need to pass your FRM exams. To pass these exams, however, dedication and preparation are needed. However, several tips would prepare you for these exams. The following are some of the tips.
1. Know the topics.
FRM exam is offered in two parts; part 1 and part 2. The FRM course will outline all the topics to be covered. Therefore, you need to understand every concept in all the topics covered. However, knowing the concept being tested is better than having to memorize the formulas. During the exam, you should also be able to distinguish what is relevant and what is not important.
2. Prepare early.
FRM exams are difficult. Unless you are well-prepared, it will be impossible to pass them. To successfully cover the FRM study materials, it is estimated that you need not less than 200 to 240 hours. That time will be adequate for you to cover the FRM program. If you are thinking of studying at the last minute, FRM is not for you. However, starting your preparation immediately you register will ensure you are ready when the exam time comes.
3. Take the practice exams.
You should also take some practice exams before the actual FRM exam. You can do this in the last weeks before your exam. When taking the practice exams, however, treat them as the actual thing. It is during the practical exams that you can time yourself. You will also feel the pressure you expect during the actual exam day.
Once you have finished the practical exams, you should grade yourself. The results will help you identify areas that need more focus during the remaining days. Get more info here: https://en.wikipedia.org/wiki/Risk.