prm exam experience

[boon hui]

just received my exam 3 pass result. do share some tips for those who will take it in the future.

1)pay more attention on supplement reading. 1/3 of my questions are come out from supplement.It is ok for those who use 2004 edition handbook, but try to get a copy of supplement reading.

2)pay more attention to the detail,for example:advantage and disadvantage, similiarity and difference compare to other etc. The exam really go through deeply about the content.

3)Should be able to solve easy calculation, do not spend too much time on those complicated calculation and fuzzy formula part. Although first chapter, “economic capital” is not in the weight of the other 3 section(show in study guide), my exam do have a few

4)since there are not much questions/preparation material outside, try to make your own note. Rambus notes on quizlet is pretty helpful as revision.you can try to google bionic turtle for his free lesson, but i think the credit risk he prepare for frm candidate is not suitable as different with our syllabus.

5) Have to know a little bit of basel knowledge.

6) PRM exam result usually release on wed afternoon (US time),but email will be sent on thursday. Perhaps you can schedule your exam tuesday and get the result on the next day.

I took exam 2 & 4 together, then exam 1 and finally exam 3.Failed exam 1 once and completed all exam within 1 year.

In summary,i feel that prm exam is focus more on theory and concept.The question is pretty straight forward,but you have to go deeper in understanding the concept behind.However,prm exam will not ask for hard mathematic or calculus computation compare to CERA(chartered enterprise risk analyst) which offered by actuarial society. For the latter, you do need a good quant skill to advance in the exam.

Good luck to all prm candidate!

[Kelvin]

n3ls0n,

Congrats on passing all the exams in 1 yr, much appreciated your feedback on exam 3!

Would you mind to share your study strategies for exam 3? How much time did you spend on reading through the textbook, it seems overwhelming with a lot of material?

Thank you in advance.

[boon hui]

i am a full time student, passed my exam 1 on 2 oct, than spend the rest of time study until 29 oct.

i go through each chapter, make my own notes and do practice exercise chap by chap. After that review other notes which i get online to keep me fresh about all the detail. i leave the supplementary reading last.

ya, the study materail do overwhelm me. I have background in risk management, bt i still find that prm questions is kind of qualitative than quantitative.

for supplement reading, try to focus on why and what question.

[Anonymous]

From where did you practice ?

[boon hui]

i get it from china prm forum.there are alot candidate share their experience and material too.

[Anonymous]

thank you for your response.

Can I communicate with you via email?

[boon hui]

just reply me here. i always come here.

[Anonymous]

if I’m not a math guy. Do you suggest starting with mathematics book first?

What reference book do u suggest in general other than the hand book?

[boon hui]

dont worry about the math part. prm exams will not come out those crazy calculus things.
just make sure you know how to compute expected value, variance, accounting/risk ratio such as rapm, raroc, coupon yield, forward, spot etc.

i dont think you need to start with math book first. just focus on the concept behind.
for me, now i learn things through video. i find that it is more easy to understand and retain the memory after study via video.

perhaps you can check this out , under finance and economics
http://www.khanacademy.org/

[Anonymous]

Thank you for the information.

I was thinking about studying a book called a primer for the mathematics for financial engineering before i start since it offers a great set of drill and have a great overlap with PRM.

Regarding supplement readings, are they concentrating on some papers than other or there is no trend ?

[boon hui]

for my exam, the questions do concentrate on funding liquidity,enterprise risk info and viewing financial crisis from 20000 feet.

it is quite different from what rambus mention last time(he has scap,and stess test). So i think it does not follow any trend as the exam questions is taken out from question bank.

has you pass any prm paper yet eyad?

[Anonymous]

Thank you for keep answering my questions.

In fact I just started and I’m worry since I don’t have any drill sets and we don’t have any e-payment methods here.

I searched for that website you mentioned before but I guess they need you to pay in order to download anything.

[boon hui]

http://bbs.pinggu.org/forum-187-1.html

http://bbs.pinggu.org/forum.php?mod=forumdisplay&fid=76&filter=typeid&typeid=164

if you can read chinese, above is the 2 forum i mention.
well, you do need to register and some “forum coin” to donwload. but that is not real money and you can accumulate experience daily to exchange the forum coin.

for what i have practice so far, i can say most of the questions do not look like real exam questions.
a very detail read through of handbook is enough to pass.

[Anonymous]

hi!! what is that supplement reading you guys are talking about?! is it available for each exam and where is it available. I have done Associate PRM and preparing for exam-2

[Author]

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