I’m preparing for the FRM exam and would be grateful for some advice for my FRM Part 1 study plan. Below are my questions:
I have the GARP and Schweser books from 2017. Could they be fine for preparation even if they are from some years ago?
Do you think that it’s better to use GARP or Schweser books?
I have 5 years work experience in credit risk development/validation (PD, LGD, EAD, ALM). Do you think this could be a tangible advantage to clear the exam?
I’m thinking of spending 4 months to study the material and at least two months doing mock exams (I have practice exams from GARP and Schweser from 2016 and 2017). Do you think this study strategy could be good?
Can I use old material for the FRM exam? I would recommend NOT to use outdated material – it’s simply not worth the additional effort to work out what is now not tested, and what is missing.
GARP or Schweser for FRM exam? Either GARP or Schweser would be fine – both providers are widely used by 90+% of candidates.
Does work experience help? Some parts of the syllabus would be familiar to you so it’s possible that your study requirements would be less than a candidate that’s starting from scratch. Our research has also shown that candidates with relevant work backgrounds such as yours do tend to perform better. But don’t get complacent! 😁
How long to study? 4 + 2 months is totally fine, but again using outdated materials may not be the best idea.
Good luck, and let us know if you have any more questions!