FRM® FAQs

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  1. What products do you offer for FRM® Exam preparation?
    Kaplan Schweser offers a selection of products designed to fully prepare the candidate for the 2009 FRM Exam, including:
    • Weekly Online Program
    • Schweser Study Notes
    • SchweserPro™ QBank
    • Practice Exam Book
    • Schweser's QuickSheet™
    • InstructorLink™
    • Final Review Pack which includes:
      • Final Review Workshop (3-hour online review session)
      • Final Review Guidebook
      • Final Review Exam

    Combinations of these products are also offered in comprehensive Study Solutions. Please view our FRM Product Brochure for more detailed information on our products.

  2. Why can't I reuse last year's study materials?
    Each year, GARP® revises the FRM curriculum to ensure that it is timely and relevant. In turn, Kaplan Schweser's expert faculty updates our study materials to incorporate these changes while structuring them to make certain candidates are utilizing the most current prep materials for the FRM Exam.

    Due to revisions and additions to the Applied Instructional Materials Statements (AIMS) and changes in the required reading list, relying exclusively on previous study materials for the current exam year is not recommended. We suggest that candidates use past materials only as an interim study aid until you purchase/receive the current year materials.
     
  3. Can I buy just the updates?
    No, we rewrite all of our materials each year as a whole to reflect any curriculum changes, which can be extensive.
     
  4. What time will the Instructor-led Office Hours will be shown in my country?
    You can convert Eastern Time (United States) to your local time by following the directions below.
  5. Can I purchase the Final Review Pack separately?
    The Final Review Pack is specifically designed for late-season review and is not available until late September 2009. Please contact us for more information.
     
  6. What information does the Final Review Guidebook contain?
    The Final Review Guidebook contains the critical concepts found within the FRM® readings and has been designed for use as a quick review as well as a reference source. It is a compendium of the Applied Instructional Materials Statements (AIMS) and will help in the retention of the FRM curriculum when it is used in conjunction with the Schweser Study Notes. This late season product is excellent for those candidates trying to synthesize as much material as possible prior to the examination.
     
  7. Can I return the products?
    Please review our return policies.
     
  8. Will the Weekly Online Program sessions be archived?
    All of the online classes are recorded and archived so candidates can view them at anytime given that they have access to an internet connection. Previous presentations are not available for download, but you can watch them streaming from our site under "Weekly Online Program" by clicking on the archived files. The archives for a given week are usually uploaded a couple of days after the live presentation.
     
  9. How do I access the Instructor-led Office Hours?
    Office hours can be accessed via your Kaplan Schweser online account. The instructor-led sessions will begin in September, so please check the FRM calendar on our website for dates and times.
     
  10. How do I access the SchweserPro™ Qbank?
    To access the online question bank, enter your username and password on Kaplan Schweser´s main webpage or on our FRM webpage. Once you are logged in, hit "Online Access." From there you can browse the curriculum as well as the questions in our database. You can also create tests and quizzes with varying lengths from any part of the curriculum.
     
  11. How should I utilize the Kaplan Schweser material?
    Start by creating a study plan with the Interactive Study Calendar and adjust as necessary to ensure you´re always on track for exam day. Then begin reading your Schweser Study Notes in order. If at any point you need additional insight, consult the appropriate FRM assigned readings.

    If you are sitting for the Level 1 FRM Exam, you should also start by creating a study plan with the Interactive Study Calendar and adjust as necessary to ensure you´re always on track for exam day. Next refer to your Level 1 Study Outline that accompanied your order for instructions on what material is applicable to the Level 1 FRM Exam.
     
  12. Where do I go if I have questions?
    We offer Instructor-led Office Hours and Instructor Email Access with some of our products. Office Hour sessions will begin in early September and will be held once a week until the exam. Purchasers of the Weekly Online Program will have email access to our FRM instructor in addition to the Office Hour sessions.
     
  13. How do I report an error in the Kaplan Schweser materials?
    Once you are logged in under the FRM section on our website, click "Updates / Errata" and then click on the Errata Reporting link.
     
  14. I have purchased the Weekly Online Program. How do I send the professor an email during non-class time?
    To email the instructor, log on to your online access account on www.schweser.com. Once logged in you should see a link under "Online Instruction" called "Instructor Email Access." Any comments sent via this link will be sent directly to the professor.
     

  1. I cannot get into the session. I can get to the launch page, I click Shockwave or Flash and nothing happens.
    Deleting cookies and temporary internet files before you enter the session is recommended. Do this by opening Internet Explorer clicking on Tools / Internet Options / General Tab. Click on the Delete Cookies button and the Delete Files button.

    I.E. General Options Tab - Delete Cookies and Delete Files Image

    For IE 7.0 please click on Tools / Internet Options / General Tab click on Delete > Delete Cookies

    I.E. 7 General Options Tab - Delete and Delete Cookies Image

    Make sure all pop-up blockers are turned off.
     

  2. I'm not getting video.

    • I have a black screen.
    • The stream will show up shortly…Please be patient.
    • I have a Grayed out screen.
    • If you are not getting video there could be a number of reasons. Use this as a starting point.

    Media Player 10.0

    • Open your Windows Media Player and click on Tools | Options | Network Tab. Uncheck the UDP box in the streaming protocols section. Also in the Streaming proxy settings, select Configure and set all of the options to Autodetect as listed below.

    Media Player 10 - Network Options Example Image

    Media Player 11.0

    • Open your Windows Media Player and click on Now Playing | More Options | Network Tab. Uncheck the UDP box in the streaming protocols section. Also in the Streaming proxy settings, select Configure and set all of the options to Autodetect as listed below.

    Media Player 11 - Network Options Example Image

    • Deleting cookies and temporary internet files before you enter the session is recommended. Do this by opening Internet Explorer clicking on Tools>Internet Options>General Tab. Click on the Delete Cookies button and the Delete Files button.

    I.E. General Options Tab - Delete Cookies and Delete Files Image

    For IE 7.0 please click on Tools / Internet Options / General Tab click on Delete > Delete Cookies

    I.E. 7 General Options Tab - Delete Cookies and Delete Files Image
     

  3. Audio is not working. If you are getting video but no audio you need to open your audio control panel and turn up the WAV fader, the master fader, and make sure nothing is muted. Also check that your speakers are turned on and turned up.
     

  4. Video seems to slow down/delay increases.
    Right click on the video window. Select stop. Right click again on the video window and select Play/Pause. You may even want to get in the habit of doing this during the breaks just to refresh your video stream and have the least amount of stream delay.

  1. What is the FRM Certification Program all about?
    GARP® provides its FRM® Certification Program for the testing, analysis and evaluation of the skills, qualifications, education and competencies of those in the field of financial risk management. The FRM Certificate is globally recognized as the benchmark for financial risk professionals and has been adopted by companies to ensure their risk management employees are well versed in the latest financial risk concepts. More Information about the FRM Certification Program.
     
  2. What are the FRM program requirements?
    You must receive a passing score on the FRM Exam, hold an active membership with GARP®, and have a minimum of two years experience in the financial risk management (or other related) field.
     
  3. Why is GARP® changing the FRM Exam Format?
    GARP® is changing the FRM Exam format for several reasons including changes within the finance industry and an urgent increased need for knowledgeable Financial Risk Managers. GARP sent out a letter to all of their members explaining the need for and the decision to change the FRM Exam format. A link to that letter is provided below.
    http://www.garp.com/frmexam/letter_to_members.aspx
    1. What is exactly changing in the FRM Exam Format?
      The FRM Exam is going from a singular level, singular season exam to a multi-level, mutli-season exam. Starting in May 2010, the FRM Exam will be offered in both May and November of every year. The exam has also been split into a Level 1 Exam and a Level 2 Exam. You must pass Level 1 before attempting Level 2 and the exams cannot be taken within the same exam window. There are specific topics, registration fees, and exam details for each level of the new FRM Expanded Program. For more information, view our other FAQs above, check out Navigating the 2009 FRM Exam, or visits GARP’s website at www.garp.com.

     
  4. Is there any change to the format of the Full FRM Exam that would make it different from past FRM Exams?
    No, the Full FRM Exam will be offered in exactly the same way as past FRM exams. The only change would be new topics areas/weighting.

    Topics Covered on the FRM® Exam Weight
    Foundations of Risk Management 10%
    Quantitative Analysis 10%
    Financial Markets and Products 15%
    Valuation and Risk Models 15%
    Market Risk Measurement and Management 10%
    Credit Risk Measurement and Management 10%
    Operational and Integrated Risk Management 10%
    Risk Management and Investment Management 10%
    Current Issues in Financial Markets 10%

  5. What is the format of the full FRM Exam?
    The Full FRM Exam is given in booklet form and comprised of 140 multiple-choice questions. It is a 5-hour exam, split into two equal sections of 2½ hours each.

    Topics Covered on the FRM® Exam Weight
    Foundations of Risk Management 10%
    Quantitative Analysis 10%
    Financial Markets and Products 15%
    Valuation and Risk Models 15%
    Market Risk Measurement and Management 10%
    Credit Risk Measurement and Management 10%
    Operational and Integrated Risk Management 10%
    Risk Management and Investment Management 10%
    Current Issues in Financial Markets 10%

  6. What is the format of the Level 1 FRM Exam?
    The Level 1 FRM Exam is the first of two exams in the new Expanded FRM Program. The Level 1 Exam will be offered for the first time in November 2009 and is a 4-hour exam containing 100 multiple-choice questions. The exam is split into two equal sections of 2 hours each and is given in booklet form.

    Topics Covered on the Level 1 FRM® Exam Weight
    Foundations of Risk Management 20%
    Quantitative Analysis 20%
    Financial Markets and Products 30%
    Risk Modeling 30%

  7. What is the format of the Level 2 FRM Exam?
    The Level 2 FRM Exam is second exams in the new Expanded FRM Program. The Level 2 Exam will be offered for the first time in May 2010 and is a 4-hour exam containing between 80 and 100 multiple-choice questions. The exam is split into two equal sections of 2 hours each and is given in booklet form.

    Topics Covered on the Level 2 FRM® Exam
    • Market Risk Management and Measurement
    • Credit Risk Measurement and Management
    • Operational and Integrated Risk Measurement and Management
    • Risk Management and Investment Management
    • Current Issues in the Financial Markets

  8. How do I prepare for the Level 1 FRM Exam?
    Our Study Solutions include products and materials designed to prepare you for the November 2009 FRM Exam regardless of the format you choose. If you decide to sit for the Level 1 Exam, you will receive a Level 1 Study Outline that explains the topics you should focus on to successfully prepare for exam day.
     
  9. Do I need to read the GARP® recommended readings, or can I just use your Study Notes?
    Our Study Notes are written to be an essential complement to GARP's recommended readings for the 2009 FRM® Exam. The decision as to whether or not to read the recommended readings is up to you, and often depends on your own academic background, strengths, and weaknesses.
     
  10. How does the FRM curriculum compare to the CFA® curriculum?
    There is some overlap with Level 2 (and Level 3) materials. The quantitative material on the FRM Exam is much more difficult than what is on the CFA® Exam. However,there is a large portion of qualitative material, which is more manageable. Because the exam is all multiple choice, the exam tends to be more qualitative in nature than the material might suggest.
     
  11. How many hours will I need to study to prepare for the Full FRM Exam?
    GARP® recommends approximately 300 to 400 hours of preparation for the Full FRM Exam.
     
  12. How many hours will I need to study to prepare for the Level 1 and Level 2 FRM Exams?
    GARP® recommends approximately 150 to 200 hours of preparation for each level of the exam, for a total of 300 to 400 hours of preparation.
     
  13. How many people are pursuing the FRM designation?
    It's growing – and quickly. Since the FRM Certification program began in 1997, more than 17,000 individuals around the world have successfully completed the program. In 2008 alone, 13,681 people registered to take the FRM exam, this is an increase of 35% in candidate registrations. For more information, please visit www.garp.com.
     
  14. How do I register for the FRM Exam?
    Go to www.garp.com/frmexam and click on "Registration" under Register in the left navigation. You can then start the registration process.
     
  15. If I have already registered, can you choose to switch exam formats?
    Yes. You can switch exam formats. If you choose to change from the FRM Exam Full to FRM Exam Level I, you will be required to pay the difference in the enrollment fee (USD $150) plus a USD $100 administrative processing fee, for a total of $250. These fees are due at the time that the request is made and are payable online via a credit card only. If you elect to switch from FRM Exam Level I to FRM Exam Full, there is no charge. There is no charge because the difference in the enrollment fees is USD $150 which covers the USD $100 administrative processing fee and the remaining USD $50 is non-refundable.
     
  16. What are the fees involved for the Full FRM Exam in November 2009?

    Registration Deadlines New Candidate Returning Candidate
    Early Registration
    Begins: Mar. 2, 2009, 12:00 am ET
    Ends: Apr. 30, 2009, 11:59 pm ET
    		$550* $450*
    Standard Registration
    Begins: May 1, 2009, 12:00 am ET
    Ends: Aug. 31, 2009, 11:59 pm ET
    		$700* $550*
    Late Registration
    Begins: Sept. 1, 2009, 12:00 am ET
    Ends: Oct. 15, 2009, 11:59 pm ET
    		$950* $750*

    *All prices are listed in US Dollars and include the $150 GARP enrollment fee required of all candidates. Membership is good for one full year from the effective date of the registration.
     

  17. What are the fees involved for the Level 1 FRM Exam in November 2009?

    Registration Deadlines New, Returning & Deferral Candidates
    Early Registration
    Begins: Mar. 2, 2009, 12:00 am ET
    Ends: Apr. 30, 2009, 11:59 pm ET
    		$650*
    Standard Registration
    Begins: May 1, 2009, 12:00 am ET
    Ends: Aug. 31, 2009, 11:59 pm ET
    		$775*
    Late Registration
    Begins: Sept. 1, 2009, 12:00 am ET
    Ends: Oct. 15, 2009, 11:59 pm ET
    		$950*

    *All prices are listed in US Dollars and include the $300 GARP enrollment fee required of all candidates. Membership is good for one full year from the effective date of the registration.
     

  18. What are the fees involved for the Level 1 FRM Exam in November 2010?

    Registration Deadlines New Candidate Returning Candidate
    Early Registration
    Begins: Dec. 1, 2009, 12:00 am ET
    Ends: Jan. 31, 2010, 11:59 pm ET
    		$650* $350*
    Standard Registration
    Begins: Feb. 1, 2010, 12:00 am ET
    Ends: Feb. 28, 2010, 11:59 pm ET
    		$775* $475*
    Late Registration
    Begins: Mar. 1, 2010, 12:00 am ET
    Ends: Apr. 15, 2010, 11:59 pm ET
    		$950* $650*

    *All prices are listed in US Dollars and include the $300 GARP enrollment fee required of all candidates. Membership is good for one full year from the effective date of the registration. Returning Candidates from the 2008 FRM Exam Full need to pay the differential in the enrollment fee of $150 in addition to the fees listed above.
     

  19. What are the fees involved for the Level 2 FRM Exam in May 2010?

    Registration Deadlines New, Returning, & Deferral Candidates
    Early Registration
    Begins: Dec. 1, 2009, 12:00 am ET
    Ends: Jan. 31, 2010, 11:59 pm ET
    		$350*
    Standard Registration
    Begins: Feb. 1, 2010, 12:00 am ET
    Ends: Feb. 28, 2010, 11:59 pm ET
    		$475*

    *All prices are listed in US Dollars. Membership is good for one full year from the effective date of the registration.
     

  20. Do I have to have my two years of experience completed before I am eligible to take the FRM Exam?
    No, if you would like, you may take the exam and then complete your two years of experience. Once you complete the requirement, simply contact GARP® and your certificate will be issued to you.
     
  21. Does an internship position count towards my two years of experience?
    No, unfortunately, the program required two years of professional experience, and an internship position does not meet these requirements.
     
  22. What kind of calculator should I purchase?
    You may use any of the following calculators on the exam: Texas Instruments BA II Plus (including the BA II Plus Professional), Hewlett Packard 12C (including the HP 12C Platinum), Hewlett Packard 10bII, or Hewlett Packard 20b. Kaplan Schweser highly recommends the Texas Instruments BA II Plus (either the regular model or the professional one).For more information, visit the following websites: www.hp.com or www.ti.com.
     
  23. How can I contact GARP®?

    Email: frm@garp.com or membership@garp.com

    Website: www.garp.com

    US Office:
    GARP
    111 Town Square Place
    Suite 1215
    Jersey City, NJ 07310

    Phone: 201-719-7210
    Fax: 201-222-5022

    UK Office:
    GARP
    1st Floor
    Minster House
    42 Mincing Lane
    London EC3R 7AE

    Fax: 44-20-7626-9300


     
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GARP® does not endorse, promote, review, or warrant the accuracy of the products or services offered by Kaplan Schweser of FRM® related information, nor does it endorse any pass rates claimed by the provider. Further, GARP® is not responsible for any fees or costs paid by the user to Kaplan Schweser, nor is GARP® responsible for any fees or costs of any person or entity providing any services to Kaplan Schweser. FRM®, GARP®, and Global Association of Risk Professionals™ are trademarks owned by the Global Association of Risk Professionals, Inc.

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