5 Ways to Prepare for Your FRM Exam Date
The FRM, or financial risk management exam, is strongly advised for anyone hoping to launch a career in finance. However, this exam is difficult, with a pass rate of around 40%.
Improving the chances of passing this exam requires preparation. Keep reading to learn about five of the best strategies to prepare for an upcoming FRM exam date!
1. Scheduling the FRM Exam Date
The first step after deciding to take the FRM exam is to schedule the date.
To schedule the exam, one must agree to pay the FRM exam fees. The standard cost for the exam is $550 for part I and $475 for part II. Early or late FRM exam registration may result in changes in the price.
When picking a date for an exam, avoid busy weekdays or weekends. Passing this exam requires focus. Having a busy schedule may distract from the task at hand, or cause unnecessary stress during the exam.
Additionally, one should schedule the exam at a date that ensures plenty of time to study. Consider how long it will take to learn all of the exam material.
Lastly, the date will also provide information regarding the start time of the exam, as well as the exam location. This informs every test taker of when they need to be at the testing center.
Showing up to the exam early may help reduce any anxiety or stress.
2. Understanding the Exam
Before studying begins, it’s helpful to know what the exam will be like.
The FRM exam is comprised of two parts, both consisting of multiple-choice questions. Part I is 100 questions and focuses on basic concepts and foundational knowledge. Part II is 80 questions and is more application based.
Each part must be completed within four hours.
FRM exam results are typically released within 6 weeks of the exam date.
3. Implement Good Study Habits
Taking this exam more than once is expensive and time-consuming.
Engaging in plenty of studying is the best way to pass on the first attempt. Become familiar with the exam material. Create a study plan that dedicates specific time for each section of content.
Take a look at exam books and exam samples.
Otherwise, take plenty of practice exams. A practice exam can let each test taker know which concepts they don’t understand. Then, they can restructure their study plan to afford more time to study those concepts.
Another benefit of practice FRM exams is practicing time management for the actual exam.
4. Rest Before the Test
Getting a good night’s rest is key to doing well on an exam. Sleep allows the brain to retain information more effectively. 7-8 hours is recommended to feel most energized for an upcoming exam.
5. Show Up Prepared
When showing up at the testing center, it’s important to have all the required testing material. Bring an up-to-date driver’s license or alternative form of identification. The testing center may also require a printed admissions ticket.
Lastly, there may be restrictions regarding the types of calculators or writing instruments that can be used on the test.
Good Luck!
These are five of the most effective ways to ensure FRM exam preparation. Following these tips is sure to equip you for your upcoming FRM exam date!
If you’re looking for more tips or advice on launching your career, check out the rest of our site!
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