Issues/Concerns with PRM Study materials

[Anonymous]

Hi Everyone,
First of all, thanks to the forum. It has helped me many times to get a clear understanding.
I am from IT background started moving into Quant finance area. I am preparing PRM with the hope that it will give me better foundation. However, the study material seemed to be sub-standard. Even though new to the domain, I am able to find out several mistakes over the material. There isn’t a errata either. Also, several concepts are not explained properly and the problem solutions are vague at times. Is this the issue with me or is it a common one? I am preparing exam 1. Any help/pointers would be really helpful.

Thanks,
Edwin

[Anonymous]

Hey,

Well same here. I’m from banking background and i’m finding the math harsh with many new concepts even in finance. you may refer for other books such as Hull to clear concepts.

[Mukul Pareek]

If you notice, the PRMIA Handbook is a collection of chapters written by different authors. Their individual styles mean that there is a great deal of variation within the Handbook, with some folks writing not as well as others. Some would explain in one page what another might have taken 20 for. A number of times new concepts are introduced without preamble, and sentences are often loosely written with the assumption that the audience is highly educated and can get the point the author is trying to make. Unfortunately a number of people who are reading the Handbook are reading such material for the first time, and many are trying to break into the field and all of this is new to them. The Handbook shows such newcomers little empathy.

But it is what it is, and what I discovered is that if you labor through it once, all the way from the beginning to the end, and then come back to it and start again, a lot of things make a lot more sense than they did the first time around. In other words, no alternative to persistence and hard work. And once you have done this, you will find yourself going back to the Handbook again, even if you work in the field.

On my part I have tried to explain a number of topics in an intuitive way on the ‘tutorials’ section, writing down exactly how I have internalized some of the concepts. Some people have found it useful.

[Anonymous]

Thanks Mukul/Eyad for the reply. I have gone through the some of the topics under tutorial and they were helpful.

[Author]

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