How Easy is it to Pass the FRM® Exam?
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For FRM part I, there has been no addition or deletion of any chapters. In fact, some chapters have been rewritten but for the most part, all learning objectives have stayed the same. The only exceptions are the following four learning objectives that have been added in Book 3 – Financial Markets and Products:
$$\begin{array}{l|l|l}\textbf{Chapter}&\textbf{2018}&\textbf{2019}\\ \hline \text{1. Banks}& & \text{Evaluate the capital requirements for banks.}\\ \hline \text{19. Foreign exchange risk}& &{\text{Calculate and explain the effect of an}\\ \text{appreciation/depreciation of a currency relative}\\ \text{to a foreign currency.}}\\ \hline &&{\text{Identify and describe the different types of foreign}\\ \text{exchange trading activities.}}\\ \hline &&{\text{Explain the purchasing power parity theorem}\\ \text{and use this theorem to calculate the appreciation}\\ \text{or depreciation of a foreign currency.}} \end{array}$$
For FRM part II, there have been some major changes in Book 3 – Operational and Integrated Risk Management, with the addition of three new chapters and the removal of one chapter
Chapter 23: Basel II.5, Basel III, and Other Post-Crisis Changes
Chapter 23: Regulation of the OTC Derivatives Market
Chapter 25: High-Level Summary of Basel III Reforms
Chapter 26: Basel III: Finalising Post-Crisis Reforms
Chapter 8 Standardised Measurement Approach for Operational Risk
Also, there have been some changes in the Current Issues in Financial Markets:
Suppose you have just enrolled in the FRM program; you probably want to... Read More
Bond valuation is an application of discounted cash flow analysis. The general approach... Read More