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Hello,
I’ve just taken Exam 3 of the PRM and wanted to share with you my experience. As others pointed out on this forum, take the supplemental materials very serious. I had at least 5 questions from liquidity risk and 2-3 more from other papers. Also there were a couple of questions from the recent events of the financial crissis, and although I don’t specifically remember reading about those topics in the PRM materials, I answered to the best of my knowledge about the events. Overall the exam had a very similar difficulty level as the Riskprep question bank.
Also I highly recommend the Riskprep question bank, I am using it since the first exam because I found it to be much more close to the real exam than PRM Diagnostic Exams.Thank you Mukul Pareek for this great website and excelent resources for the PRM Exams.
Good luck to you all!
where can I find the supplement papers that you were referring?
I’m preparing to take the Exam 3 at the end of this month, I only have the PRM handbook.
thank you
Here is the list of the supplemental materials.
https://www.riskprep.com/blog/98-changes-to-the-prm-syllabusYou should have received a secured link to download them when you bought the Exam 3 handbook.
Some of them you can find freely on the web, but others, such as funding liquidity risk, which I think is the most important, you can’t.Good luck!
delete me
Hey, I plan on taking the exam in the coming weeks would you say the exam questions are more qualitative or quantitative or just about an even mix. I feel good about that qualitative material but the quantitative stuff I dont feel to confident about.
Thank you
Well at least in my case I think it was about a 50/50 mix between quantitative and qualitative problems. For the quantitative part I think the Riskprep question bank covers very well the topics and if you have time to go through all 309 questions, you shouldn’t have any problem on test day. The quantitative questions, in my case, were mostly from VaR calculations and credit default probabilities type of problems eg: company A has x% prob of default, company B has y%, correlation of default is z%, what is the loss give default of B, etc…Riskprep questions have a good explanation for this type of problems using Venn diagram.
Good luck!THANK YOU!!!
Hi Adrian,
Thank you so much for your info, you have showed us the right direction for preparation for Exam 3. Since there are bunch of materials and topics, did you manage to read through all the material once or practice with Riskprep make it prefect? Appreciate if you could share your study strategy.
Cheers,
Kelvin
Hey!
Glad I can help. But please note that my exam questions may not be representative for the whole bulk of questions that PRMIA has, which I heard it’s quite extensive..
Meanwhile I just got my exam results and I passed but with a lower mark than what I expected so my learning strategy may not be the best.. Anyways, I read Exam 3 handbook and the supplemental papers once and then did all 309 questions on riskprep twice, in order to be sure I understood the questions I got wrong on my first attempt. I can now say that maybe the handbook is a little too quantitative based and extensive relative to the topics that are actually tested by PRMIA, but you can never know what the whole bulk of questions holds for you on exam day. So best strategy – be well prepared!Cheers!
Hello,
Is Rethinking Financial Network part of syllabus for exam 3 ???
Hello,
No, not anymore, it was dropped in May 2011 and replaced by ‘Why Banks Failed the Stress Test’. Please see the link below:
https://www.riskprep.com/blog/98-changes-to-the-prm-syllabus
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