FRM Part II
I am very disappointed, coming away from my most recent financial risk manager part two exam. Some of the questions I felt were very unfairly written. There was one on RAROC, not enough to calc. Another one was on cyber risk and probability (where tf is this?) The last one I’ll mention was a black scholes Merton …couldn’t finish the math process in the bracket and not enough info
This exam is so difficult and what is there to gain by sacrificing months of my life, paid time off to do the final reviews (which I’ve used Kaplan now twice) and now have failed once and do NOT feel good about this last exam.
What does that say about the difficulty level of the examination? I am in insurance, and in Risk Mgmt…and the fact that I am not able to proficiently complete this exam based off of the requirements and the readings it just discredits the GARP organization.
I am finished pursuing the FRM certification and I’m sad to say that I won’t be promoting GARP in any of my risk circles because examination doesn’t match what you actually learn. I spent well over 500 hrs in all books to learn all about portfolio VaR, credit VaR liquidity Var liquidity charges, marginal Var, hazard rates, sharp ratio, traynor, information.. and the fact that none of that came up on the exam or if it did, it was embedded with five other things to consider and sort out.
understand the camouflage is there to bewilder and confuse people, but there is there is a level that you should be on the candidate side and you should be on the level of trying to get more people who have a fair amount of understanding through the door and the fact that I am now sitting here with one FRM part two examination failure and one 95% confidence interval as failed, I am done.
It was more or less for me to learn the quantitative side of risk management, which I feel I have, but because your exam was poorly written and overly onerous, I am finished with this certification .. rant over.