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Aloha668

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I am planning to take PRM Exam 3 & 4, rather than the two FRM exams, due to following reasons.

1. For CFA charterholders and those already passed CFA L3 exam, only Exam 3 & 4 are required to be taken. That is, only those specific topics not covered in CFA exams will be tested.
2. Comparing with the curriculum of FRM, the structure of PRM curriculum is much more systematic and integated. That is, the topics of each PRM exam (in 4 exams) are much more clearly defined. Conversly, quantitative method / derivatives / fixed income / portfolio concepts and construction and performance are spreaded (mixed up) in the two FRM exams.
3. The exam date can be arranged by candidates flexibly.
4. Total cost is lower for PRM than FRM. It will cost me only $390, comparing with $950 of FRM.

Any comment ?
 
Just two questions.
Any difference to the experience requirement?
Which one is better known in the job market?
 
Aloha668 wrote:
I am planning to take PRM Exam 3 & 4, rather than the two FRM exams, due to following reasons.

1. For CFA charterholders and those already passed CFA L3 exam, only Exam 3 & 4 are required to be taken. That is, only those specific topics not covered in CFA exams will be tested.
2. Comparing with the curriculum of FRM, the structure of PRM curriculum is much more systematic and integated. That is, the topics of each PRM exam (in 4 exams) are much more clearly defined. Conversly, quantitative method / derivatives / fixed income / portfolio concepts and construction and performance are spreaded (mixed up) in the two FRM exams.
3. The exam date can be arranged by candidates flexibly.
4. Total cost is lower for PRM than FRM. It will cost me only $390, comparing with $950 of FRM.

Any comment ?
Click to expand...
 
I agree with you ! Maybe the best way is for PRM (PRIMA) to be merged by CFAI or to have another new credential/designation created by CFAI so that CFA chaterholders and CFA candidates having passed CFA L3 exam can be exempted from the exam(s) for which the curriculum are already covered in CFA L1~3 exams.
 
I’m doing PRM as well but it has one disadvantage and that there are no questions so you can’t practice the topics you just read. And FRM is like CFA, very hands on, practicing lots of questions so you can apply it in your work. But all the pros for PRM I agree with!
 
I took a look at the study guide for Exam 3 which is where the meat would be (Exam 4 is case studies, best practice and ethics). Exam 3 covers Market, Operational and Credit risk in a 90 minute exam. It seems to cover most of the material in the FRM for these areas, but all the LOS command words are Define, Describe, Explain, or Demonstrate. So no calculation required. Personally I would be looking for more from a qualification than this.
This might be why FRM is better known than PRM (in my opinion/experience)
 
Agreed with Monito’s view. Just passed level 3 of PRM exam and while the content of the book is quite challenging, the exam was not. No difficult calculations are required but the exam questions cover all topics. That’s why I am considering to take the FRM exams as well.
 
I’m not sure whether the FRM curriculum is better than the PRM curriculum, or vice versa.
I chose FRM because it seemed to be far better known.
I don’t think anybody would describe the FRM exams as easy.
I wrote FRM part I in November 2010: the pass rate at that sitting was 39% and it was an EXTREMELY difficult exam.
 
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