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However, the vast majority of the candidates (including me) do not have the time for such an extensive studying process. In fact, if you have the resources and the motivation, it can be in your best interest to go through GARPвЂ™s sources (the relevant chapters from the list of recommended textbooks). Do You Really Need to Peruse Through Every Page of the Official Study Books?Дoing so is highly recommended. But you have to find your вЂњweekendвЂќ and make the most out of it.

And yes, you still need a round of golf once in a while. Of course, this may not fit your schedule. Personally, I spent nearly as much time studying over the weekend as I didВ inВ the rest of the week. Weekends present an opportunity to catch up and make up for the time lost during the week. It happens to everyone, but the important thing is to fix your mind on the prize. There were days when I wasnвЂ™t so productive. It was a marathon! And of course, you cannot operate at 100% all the time. In my experience, you might need more than a fortnight for each especially if you donвЂ™t have a strong financial background like me. Preparing for the exam and having a full-time job (especially with dynamic workloads) can limit your ability to efficiently study the content and go through all the chapters in depth. Also qualified for this list are the study notes you will make in the study phase, but if you can outsource trustworthy summary notes, you might not need your own.

Other Performance tools вЂ“ these include flashcards, quick sheets, mind maps, one-pagers, etc.

And thatвЂ™s partly why GARP has provided a list of learning objectives.) Not everything you might findВ thereВ is relevant for the FRM Part 1 exam. (If you opt to take this route, you will emerge from it all with a rich vein of knowledge, but be sure to commit a lot more of your time to your prep.

Direct sources вЂ“ most of the textbooks used by GARP while assembling its own textbooks have questions after every chapter.

3 rdВ party question banks вЂ“ available from vendors of FRM study material (e.g., /frm/).

Perhaps even more crucially, beware that there are noВ questions in GARPвЂ™s textbooks. To understand the application of all the main points in every chapter, you need much more. In my opinion, these exams should be your supplements at best.

The GARP вЂ“ provided sample test papers may be freely available, but there arenвЂ™t too many of them.

Questions вЂ“ the most critical aspect of your prep, if you ask me.

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Direct sources вЂ“ the textbooks and published research papers used by GARP while developing the FRM Part 1 curriculum (GARP provides the source of every chapter of its textbooks free of charge).

Some vendors are better than others, no doubt about that! However, IвЂ™d advise you to do some research before making the order.

3 rdВ party books вЂ“ courtesy of a host of vendors.

#2018 FRM PART 1 SCHWESER PRACTICE EXAM REGISTRATION#

GARPвЂ™s own books (can be purchased with your exam registration or at a later time cost: USD 250-300 at !/frm/study-materials).

Textbooks вЂ“ there are three main alternatives.

If youвЂ™re wondering just how many sets of prep materials are available, I have broken them down for you: I went out of my way and acquired learning materials even before I had officially registered for the exam. And thatвЂ™s because I didnвЂ™t just need books No! I needed materials that would help me apply knowledge in a range of scenarios. Looking back in retrospect, my choice of prep material played an important roleВ towardВ my success. What Do You Need?ДЄs the very first step, you need to choose the materials you will use in your pursuit of the knowledge needed to pass the FRM Part 1 exam. If my profile sounds a lot like yours, you will find the following study formula immensely helpful. For these reasons, I decided to dedicate three months to prep work. With such a tight schedule, you have to make every minute count. I had to strike a delicate balance between office work and study.

And as a full-time employee, I didnвЂ™t have a lot of free time. My five years of working experience as a financial consultant would definitely help, but deep down I felt that wasnвЂ™t enough.

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In Business Administration and specialty in corporate finance, I still knew I had a lot to do to crack FRM Part 1 in my first attempt.

Easy as that sounds, make no mistake вЂ“В it was a tough ride!Д®ven with an MSc. I sat and passed FRM Part 1 in May 2018, in Frankfurt.

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