Tips to Help You Answer FRM® Exam Questions

You may have heard that the FRM exam is challenging and hard to pass.  However, with hard work and preparation, you can succeed. Here are top tips shared by certified FRMs on how to answer your exam questions.

1. 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.

2. 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.

3. 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.

4. 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.

5. 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.

6. Avoid searching for patterns in the answers

It can be tempting to look for patterns in the answers and save time during the exam 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.

7. 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.

How hard is it to pass the FRM exam?

The FRM exam is challenging and highly quantitative, and its level of mathematical difficulty is the same as an advanced undergraduate or introductory graduate-level finance course. You will need to study for a significant number of hours to master the concepts. You need to put in at least 240 hours in each part and practice using sample questions.

In the last FRM exam sitting of 2019, the pass rate was:

• Level I: May sitting -42% and November sitting -46%
• Level II: May sitting -61% and November sitting -59%

You can use an exam prep package from Analystprep.com to gain access to additional study and exam materials to help you prepare for your exam.

Additional tips for studying for your FRM exams

1. Set up a study routine as soon as possible

Setting up a study routine and adhering to it will help you attain an in-depth understanding and mastery of the content.

Develop a study strategy to ensure that you maximize the time you have in each session. You can start by reading or listening to lectures and understanding the information, then learn to apply the knowledge through practicing with examinations.

2. Identify the core areas of study

The FRM curriculum includes key topics and concepts that you need to master. During your study sessions, paying attention to these areas increases your chances of success.

3. Practice taking the exam using sample questions and mock tests

It will help if you practice using sample questions and mock examinations as many times as possible, leading to your scheduled exam. Practicing will enable you to identify any knowledge gaps and adjust your study sessions. You will also understand the terms used during testing, the calculations required, and how to apply the knowledge to solve problems.

These tips from successful certified FRMs will help you study for 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.