I have written extensively on why the FRM exam has been consistently gaining popularity over the last 10 years. If you are still not convinced, here’s a look at the ample career opportunities that Certified Financial Risk Managers have available to them.
I cleared the CFA Level 1 and FRM Level 1 exams within two weeks of each other back in 2010, and I definitely remember sweating more over the FRM exam. It’s more quant-heavy and requires a deeper understanding of several mathematical and statistical concepts.
To get an edge when preparing for the FRM exam, I feel two things are necessary:
- A support system of like-minded students going through the same trials and tribulations who know better than anyone else about the issues that beset you.
- Concepts explained at a level that you personally are comfortable with. This obviously means different things to different people since everyone is at a different level. So the ideal course should cover all bases – from videos explaining every little thing in detail to quick cheat-sheets for the pros.
Based on these criteria, here are my top recommendations.
Bionic Turtle is a well-known brand for FRM prep courses. They are laser-focused on just one thing; and so they have become exceptionally good at it. Their biggest strength perhaps is their large community of registered students. Just have a look at how active their forums are!
The material itself is top-notch with study notes, interactive mock exams, videos, interactive quizzes, and even spreadsheets for the advanced versions. There is something for everyone.
Schweser has been the gold standard for the CFA exam and they are definitely a professional and established provider of course materials. I am intimately familiar with their material as back in 2010, I used Schweser for both the CFA and FRM Level 1 exams and they served me quite well.
You can’t go wrong with their essential self-study packages but beyond that, it might be hard to justify the additional costs for the premium packages.
Here is the link to the Schweser study material.
There are quite a few other providers but honestly, I don’t think anyone really needs to know which is the #17 best provider, so I am going to keep this list short and helpful. Good luck with the FRM exam and take it from someone who has been at this very spot – you have a wonderful career waiting for you on the other side! 😊