Estimated reading time: 9 minutes
What is the point of using practice questions when studying for your examinations? An increasing number of candidates are appearing for the CFA, ERM and other financial examinations every year.
These examinations are quite hard and they are typically difficult to crack in one attempt.
An unfortunate fact is that many of these candidates repeat the same examinations over several years. Even if you have prepared for the examination properly, that doesn’t guarantee a pass.
It is always a great idea to drill yourself before taking any high-level examination. This is to ensure that you are completely prepared to take the exam.
And this is one of the vital tips needed for you to crack the financial risk manager examinations and earn your FRM designation.
There are many reasons why using mock tests are important. Simply put…it makes you perfect. Also, this repeated action can help you in easing your anxiousness and tension to a great extent.
Here are some of the reasons why you must consider using sample tests before you take GARP’s course:
1: Attain perfection
Of course, when you are practicing with the samples you have will have better knowledge about how to complete the challenge within the time limit.
Mastering anything needs patience and these questions are designed in such a way that they will help you to know what you must focus on and what you already know. This helps to test your knowledge.
Taking tests will make you accustomed with the design and format of the real thing. As a result, you will get more comfortable with the testing process.
Having gone through a drill is always better before appearing for the real exam. You must have heard of the proverb that practice can make anyone perfect. Well…it’s true. Constant repetition can be a good exercise.
2: Repeated testing gives confidence
Experiencing stress is quite normal before attempting the GARP examinations. Though some stress is fine, taking on too much will make you under perform.
It is likely that you will feel tense and nervous before the actual exams. This is a fear of the unknown.
In many cases, it has been seen that students fail to perform well due to low confidence levels. But this can easily be overcome with adequate amounts of training.
Utilizing mock tests will help you to calm your nerves and gain more confidence. When you repeatedly use sample test papers, it gives you confidence that you can deal with the real test as well.
Once you are done with the preparation, practicing with samples can boost your confidence level to a large extent. You will be more familiar with the format, time crunch and also the pressure.
3: Better scores
Competition is very high these days and people are fighting for the top certifications to secure better jobs. We know that you must be aiming to get a job with an attractive salary.
Well, that is only possible when you score well and better than the other examinees.
The secret to good marks in the CFA, FRM or ERM examination is through preparation. The sample problems you take, the more you will be aware of your weaknesses.
There are parts where students can perform brilliantly. Similarly, on the other hand they can perform quite badly in other areas.
The pass rate is notoriously low and unless you take rehearsal runs, you may never know your true standing.
4: Managing your time
Timing plays a vital role in these competitive finance exams. You may know all the answers and can solve each and every question provided on the paper.
But without proper exercise, it may be difficult or even impossible to complete the paper within time. You need to be a professional in answering each and every question within the allotted time.
Perfect timing can make you win the race. And with many types to answer, it can be easy to lose the track of time.
Trust us; the last thing you will want is to run out of time in your examinations. Hence, pacing is extremely important.
Tackling numerous problems will help you to realize how long you must spend on each question. Remember, time management skills can only be well-defined with patience.
5: Retain more information
Even if you are studying day and night before the examinations, there is a huge chance that you will forget many things from your books when you have that paper right in front of you.
This is because of a lack of retention power. With so much information to retain in a small period of time, it may not be possible for you to hold in every bit of it.
The only and best way to retain information is through the old school way; quiz yourself.
When you repeatedly go through this rehearsal process, your brain can retain the information in a very unique way. Exposing yourself repetitively to test exams will undoubtedly help you in the long run.
6: Better knowledge
When you study for any examination, let alone going for a professional certification, you increase your knowledge base. There is no doubt that it is quite difficult to know everything risk-related to your field.
Feeling uncertain about some of the topics is quite a normal thing. But when you use questions and try to answer them on your own, you can identify the problem areas.
There are certain areas where you can perform brilliantly and some areas are there which needs more attention. This helps to reassure the various areas and so you can focus on those parts properly.
This also helps you to strengthen your knowledge about the topics by devoting more time and focus on appropriate areas.
7: Track your progress
As a professional, you are reading and learning continuously. What is your aim? Is it to achieve top scores in your examinations and to make the best impression in your workplace?
But do you know what your progress is actually? You may think that you are perfectly prepared or you are not so well-prepared. Either way, you will find the answer only through actively tracking your progress.
And you can do that only by tackling exam drills. When you constantly test yourself and tally the results, you will know exactly how much progress you have done.
If you watch the interviews of analysts or investment bankers who have taken these exams before, they will typically suggest that you take mock tests.
Without this, you will never be certain of your state.
8: Find better opportunities
When you are preparing for the GARP examinations, there will be a lot of things going in your head. You have a dream to achieve, a hope for better opportunities as well as anxiousness for that new certification.
All these are quite normal as you are going to find better opportunities after you successfully pass this examination and score well.
When you rehearse more and more before the exams, chances are quite high that you will find linkages in your job.
Besides the marks that you get in the exam, your job also sheds light on your knowledge and confidence level. Taking on varied study problems will help you to increase both.
Practice can make you perfect and this will help you towards increased opportunities as well.
9: Building more stamina
Your drills should take up multiple hours in your preparation phase. You have to make sure that you have the patience to sit for those long hours and complete the test properly.
Given how our modern society works these days, patience levels are very low. Sitting at one place for long hours can seem to be too draining and tiring.
People lacking enough training tend to lose focus and concentration after mere minutes. Hence, these tests are important.
When you challenge yourself to answer questions for long hours every week, you will get habituated with the method. This will help you to build more stamina and endurance to take exams for longer hours.
Doing so for the first two or three times can be quite exhausting. But your stamina will increase over time. Keep at it!
10: Learn the quirky parts
These problems don’t always come to you in a simple and straightforward way. Some will be twisted and that is the quirkiness of this competitive course.
If you do not have the experience to solve question papers, then you will find it hard to solve them in the real situation. Hence, it is important to solve ones when studying.
This will help you to learn more about the quirks of the test and you will feel more comfortable with the format and process.
By repeatedly taking these exercises, you will have a better idea of their sometimes complex structure and the different types of problems that will appear.
If you do not…then it may be quite a strange experience when you first see the question paper.
11: Get accustomed with the format
One of the major reasons why it is always suggested to use mock samples before you appear for the actual test is to get accustomed with the formatting.
GARP’s style ‘generally’ remains the same when it comes on to the overall structure. You have to make sure that the format is known to you so that you can make proper moves accordingly.
If the format is not known, then it can be quite overwhelming for you if you are appearing for the first time.
Thus, solving these tests can give you a better idea about what you have to endure and the structure of the examination.
12: Making you more accurate
The stress to complete the exam within time can take a toll on the speed and quality of your answers. Of course, you may even misinterpret the question all together if you are under too much pressure.
And accuracy is important in order to achieve better scores. With the help of our sample types you can train every day before you appear for the actual examination.
This action will increase your accuracy by reducing the chances of making mistakes that may occur while performing under pressure.
13: Maintaining consistency
Even if you have appeared for the exams before, you may not be able to perform with a great level of confidence the next time. Why? This is because of the lack of consistency.
When you lose touch with the examination patterns, you tend to lose consistency. Hence, using mock challenges before walking into that room is essential.
This will help you to maintain consistency throughout. You will have a better chance of performing brilliantly in your exams as you would have formed positive habits.
FRM practice questions will help you to focus on the areas where you need help. Doing well in your course may not only lead to a better job with a higher salary but it may also have great social implications.
You will have more opportunities in the future to perform brilliantly in this sector and you will be able to work at higher levels. But for all these to occur, you need to make sure that you are scoring well and passing your exams.
And no doubt, these tests can help you to do so. Besides, it has many other amazing benefits as we have discussed and these benefits are the reasons why you must take sample tests seriously.
These are some of the top reasons why you must utilize quizzes before you take the real test.
Many persons will underestimate the value of such preparations but we urge you to avoid this trap on your way to securing that FRM designation.
Make sure to start utilizing our samples as soon as you can. Waiting too long can be a problem in the end. You will also be more skillful in devoting the proper time for each section of the paper.
These are very small yet effective ways that can help you to flourish more for your financial risk manager examination preparations and achieve remarkable scores.
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There is light at the end of the tunnel,
The QuestionBank Family