PRM 4

[Anonymous]

As I am about to embark on the 4th and final part of the PRM, I note there aren’t even any RiskPrep or Kesdee practice questions. Can anyone advise how best to approach this? Do I just need to read the case studies and attempt to memorise everything to the best of my ability?

[Anonymous]

Hi, I read the materials but also used KesDee for exam 4. I found that the questions in Kesdee were quite comparable to the actual exam. Ofcourse not the same questions but similar format so that really helped.

I would like to ask how you found Exam 1 – I am hoping to sit for it in March 2020.

[Anonymous]

Thanks, I have just bought kesdee for exam 4 now. The materials don’t look too bad so hopefully this one shouldn’t be as intensive as exam 3. For exam 1, I barely scraped by, which is odd as I scored over 80% in exams 2 & 3. It was the first PRM exam I sat and I expect my preparation was not ideal. My advice would be to use risk prep and/or kesdee as a guide to your knowledge but focus on the handbook materials. Also, the quant/computations are not that intensive in the exam but they will ask about details – so it is more important to understand the concepts rather than be totally competent slogging your way through calculations. Do not assume ANY of it will not be asked, I got caught out with that. If you read the books a couple of times (and maybe write notes as you go through), I expect that will be enough for you to pass. Good luck!

[Anonymous]

Thanks a lot for the advice – would you say Kesdee is equally as good as risk prep for exam 1?
I wrote 3 in December and found it quite intense, despite being a practicing Operational risk professional, the kesdee material was so unrelatable as well so I focused on the PRMIA handbook, thankfully I passed.
Good luck to you too, I think you saved the best exam for last!

[Anonymous]

I personally found exam 3 the most intense. That said, I work in investment risk/portfolio analytics for an equity investment manager so operational risk and credit risk were entirely new subjects to me (although credit risk is, by and large, reasonably intuitive). I’m very familiar with derivatives, SPVs, CAPM etc so the finance part of exam 1 wasn’t too bad for me. That said, I scraped by with 61% because I relied too much on kesdee and risk prep. Both are probably equally helpful for exam 1 but i still would say focusing on the handbooks is the priority. Kesdee is definitely more helpful for exam 1 than it is for exam 3. It’s useless for exam 3.

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