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FRM Preparations and Skill Improvement – Part 2

Estimated reading time: 3 minutes

 

Introduction

We now continue our look at the journey towards improving your skill-sets, particularly in light of becoming a risk manager…

 

Take constructive feedback

Excellent listening abilities are part of what makes a good leader.

You can start sharpening your people skills now even as you are improving your understanding of the FRM syllabus and getting ready for the tests.

It’s simple; attend more study sessions, be active, and take constructive feedback.

We all have different viewpoints when learning. Listening to others will widen your scope of reasoning and creativity.

In work settings, excellent listening skills could be what it takes for you to nail that new strategy and reduce costs.

In the short term, learning from others helps to fill your knowledge gaps for thorough exam preparation.

 

Confront conflicting information

The process of learning involves regularly confronting conflicting information. It may be from your study groups or the additional study materials that you use.

If possible, seek out these dissonant ideas and alternative perspectives and aim to understand them.

Try to resolve conceptual parallels and come up with new ways of looking at things.

Continuously resolving problems will bolster your intellectual growth and practical skills development.

 

Understand the nature of problems

When using practice questions, for instance, exam-oriented students would be more focused on learning the right answers.

Skills-oriented candidates, on the other hand, will focus more on understanding the questions and the different challenging scenarios that mirror the real world of finance.

In the real world, there is never a single solution to a problem. Focusing on understanding builds your reasoning ability.

You get to de-program your mind from the habit of clinging-to or finding simple black-and-white solutions to problems.

Nurturing this ability could set you apart from everyone else in the industry.

 

Take notes

Taking notes helps you break down difficult concepts in a way that makes the most sense to you.

It improves enthusiasm in your course material and improves your chances of applying what you have learned to work situations.

Sadly, many students don’t make proper summaries and notes.

Scribble something you find interesting with every page you turn. Draw charts, pictures, or use shorthand, whatever helps you simplify and bring abstract concepts to life.

This technique will help you stay attentive and remember more. That’s how you accelerate your journey for practical improvement.

 

Find ways to use your knowledge

You don’t have to wait for official certification to start behaving like a risk manager. Start now by applying what you know to work situations.

If you work in the field of finance, this is the time to start leveraging your training for operational efficiency.

You can also apply your new soft skills, including critical thinking, decision making, and people skills to work situations.

Elevate your career just by showing an ability to do things differently.

It’s possible to start adding more value to your organization going by what you have learned before you even sit for the exams.

And the more you apply your knowledge to practical scenarios, the more you improve your chances of passing your upcoming tests.

 

Practice more

Take as many practice tests as you can- being very careful not to memorize the answers, but to expose yourself to different practical scenarios.

Case study questions work best for a skills-oriented type of learning. Read through the hypothetical scenarios and find ways to apply your knowledge in solving matters.

Evaluate yourself as well to identify your strengths and troubled areas. Seek to understand what you did right and what you did wrong after every test.

Work on your areas of need by delving deeper into your course content and third party notes.

 

Study at your own pace

Rushing through your content might leave you empty when everything is done. Take your time and seek a deeper understanding of your course material.

Find techniques that work better for you and capitalize on them.

At any given time, your friends in study groups might know more than you do, but that should not scare you into rushing.

Reflect deeply on the concepts. Solve more questions and make notes.

A personalized study approach ensures that your new-found knowledge will stay with you for long after any examination.

 

Take an internship

If you are not employed at this time, it might help to take an internship role in a finance-related field.

Such an opportunity will help you study from experienced professionals and also apply your textbook knowledge to real-life scenarios.

If you get such a position, take the initiative and ask for more responsibilities. Show how you can be highly efficient, innovative, precise, strategic, and ethical.

Study more and push the envelope every day.

 

Thank you

We hope you have enjoyed reading this two-part series as much as we did writing it. Check the following links to get even more information and insights:

 

Never give up,

The QuestionBank Family