Study materials

[Adare]

Hello, everyone,
I’m planning to take FRM Part I in May 2012. And I got really confused about the study materials.

1. What is the content of the FRM Part I Books – the chapters/articles listed in the Study Guide or a content written by GARP?
2. The price of the FRM Part I Books, as stated on the GARP website, is US$250, plus shipping. When I try to register, it says that I have to pay another US$153.82 for the UPS services. So “plus” does not mean “including” is that right?
3. I see that many of the candidates use study materials published by BT, Schweser, etc. Are they alternative or complementary to the FRM Part I Books? What are the differences among them and between them and the FRM Part I Books?

 

[DavidHarper2]

Hi Adare,
1. The FRM Part I Books are not written by GARP; unlike CFA Institute which “insources” an increasing percentage of its material, GARP’s books are an anthology of third-party, expert authors (e.g., Hull, Jorion). GARP writes NONE of the content (with the somewhat exception of the brief ethics which are not nearly as prominent as CFA ethics), but only selects the readings.
3. Many candidates use training materials by the third party providers as alternatives. Some use them as complements. Opinions vary, but mine (biased) is that it depends on your (i) background, (ii) the time you have to study and (iii) your goals, if any, beyond just passing the test. Some candidates only *need* either the FRM books or supplements; others either should complement [e.g., they simply require the additional help] or want to complement, due to the specialized nature of the topics. Your going-in proficiency is a big factor: study prep is different for someone starting fresh with the quant as opposed to somebody with quantitative fluency. At one extreme, we’ve helped professionals with quant savvy speed through relying largely/mostly on practice questions and learning spreadsheets (i.e., their agenda is just speed), no kidding. At the other end of the spectrum, many candidates need to start at the basics with, just as examples of introductory ideas, compounding interest rates or how does a long/short option position work (i.e., their agenda includes a more time-consuming, patient build on foundation)… Further, to be candid, there are some candidates who use both BT and Schweser
Hope that helps (I don’t know about #2), thanks, David Harper, www.bionicturtle.com @
http://www.bionicturtle.com/forum/

 

[Adare]

Thank you for your comprehensive answer, David!
You helped me make my choice.