Avoid these FRM® exam study mistakes and pass your exam on the first try

You may have heard that it is challenging to pass the FRM exam, and you need to dedicate a significant amount of time and effort to pass the exam. We recommend that you set aside at least 240 hours to study for each program level.

The first step in preparing for your exams is coming up with a study program. However, to increase your chances of passing your exam, you should avoid the following common mistakes during your studies.

1. Putting off your studies to the last minute

Our experts at Analystprep.com recommend that you set aside at least 240 hours to study each curriculum level. Since you enroll and register for your exam months before the exam date, it may seem like you have a lot of time. However, you should avoid postponing your studies to the last few weeks.

2. Not setting up a structured study plan

To pass the FRM exam, you need in-depth knowledge of the curriculum. You require a structured study plan to gain a comprehensive understanding of the core topics and practice how to answer the questions.

You need to study one area before proceeding to another consistently. However, some candidates shift from one topic to another without fully understanding the concepts making their study sessions inefficient. Failure to follow a structured study plan makes it difficult to complete the curriculum in time.

3. Poor time management

Time management during the exam is critical because the exam is highly quantitative. Additionally, you have four hours to answer complex questions and work out any calculations.

It is vital to include time management in your study program. It is not enough to start your studies early but find ways to manage time during the exam. You can do this by timing yourself when doing practice questions and mocks and finding shortcuts to long calculations.

4. Lack of enough practice with calculators

GARP allows candidates to use various calculator versions such as Texas Instruments BA 11plus and BA 11 Plus Professional, Hewlett Packard versus including Hewlett Packard 10B 11, 10B 11 Plus, 20B, 12C, 12C Platinum and Anniversary edition. You will be allowed to use any of these calculators during the exam, so you must be comfortable using them.

Ensure that you are familiar with your calculator by practicing solving calculations, configuring it, finding shortcuts, and learning the best formats, which will help you save time during the exam.

5. Failure to use practice questions and mocks when studying

Focusing on the curriculum and going through the course content multiple times helps you understand concepts, but it is not enough. However, the FRM exam tests your ability to apply specialized techniques and your understanding of these concepts. You should include practice questions and mock exams in your study routine to understand exam formats. In addition, practice questions will help you identify knowledge gaps and improve on them.

6. Panicking on the exam day

Panicking on exam day can make even the most prepared candidate fail. You are more likely to misread the questions, doubt yourself, or pick the wrong answer during the exam. It is essential to plan for ways to avoid panic when taking the test.

Additional tips to help you answer FRM questions correctly

You can apply the following information to help you accurately answer exam questions and pass on the first try.

i. Read each question carefully before answering

Familiarize yourself with the terms used in the questions to understand how to answer them effectively. Reading the question ensures that you do not miss keywords or instructions. Watch out for wordy and lengthy questions and double negative statements.

ii. Consider all the answer options

As a result of the exam’s time limit, it may seem wise to move through the questions as fast as possible. However, ensure that you consider all the answer choices and not just stop when you think you have got to the right one. The FRM exam is tricky, and you need to ensure that you choose the best answer.

iii. Break down lengthy questions before answering them

Wordy questions are more challenging to reply to since they can be confusing. It is helpful to dissect the question into sections. Identify the relevant information and what the question is asking. Understanding the significant part of the question will help you avoid choosing the wrong answer, which may correspond with irrelevant information.

iv. Determine what the question is asking before choosing an answer

You need to determine what the expected response to the question should be. It is vital to understand the key terms used. For example, instructions that include calculating, compute or derive require you to apply a formula.

v. Be comfortable with your calculator

The FRM exam is highly quantitative, and the mathematical difficulty is the same as that of an advanced undergraduate or introductory graduate-level finance course. You will need to be comfortable using the calculator to answer the calculation problems efficiently.

vi. Avoid searching for patterns in the answers

It can be tempting to look for patterns in the answers and save time this way. However, GARP does not have a preference for how the answers appear. Ensure that you read through all the questions and answers carefully without previous expectations.

vii. Have a plan how to remain calm during the exam

Panicking during the exam can make you fail despite adequate preparation and practice. It is critical to ensure that you remain calm during the exam to answer the questions effectively.

You can avoid last-minute stress by beginning your studies early and practicing with sample questions and mock exams. Adequate preparation will help you remain confident and calm during the exam.

These study tips from our experts will help you avoid common mistakes and pass your exams. If you need additional resources to help you prepare for your FRM exam, enroll in Analystprep.com study packages.

We provide you with instruction from our experts and supplemental study materials including, online study notes and video lessons, question banks, mock examinations, and customizable quizzes. Contact us at AnalystPrep.com, and we will help you pass your exam on the first try.