14 Common FRM Study Mistakes You Must Avoid

Estimated reading time: 11 minutes

 

Introduction

Every year, many candidates repeat the same common FRM studying mistakes during the course of their preparation phase and leading up to the examination sitting.

Yes, it is true that there are many variables at play and anything could go wrong before exam day. And we are going to show you several tried and true pointers that all candidates must be aware of.

 

“By failing to prepare, you are preparing to fail.” ― Benjamin Franklin

 

Yes. We all have lovely and exciting things to do in our lives and spending too much time on those enjoyable activities is the temptation that we all must overcome.

Are you watching too much television, spending countless hours on social media or killing time with friends each week?

Eventually the serious individual will have to decide that he or she must give up on those things which are stifling personal growth and development.

We sincerely urge all candidates to avoid repeating these studying mistakes that too many have done before them.

 

Mistake #1: Waiting Too Long to Start

Arguably, of all the studying mistakes candidates are guilty of, the top spot goes to one that we all struggle with in several areas of our lives.

None other than the age-old chronic procrastination bug. Whether it is the FRM exam, the CFA exam, many persons will tend to agree that waiting too long to start has always been a lingering issue in life.

Nevertheless, the focused candidate will need to shrug off this disease and put one foot in from of the other unit the journey is over.

  • It is not impossible to delay watching that movie everyone is talking about
  • It is not impossible to ignore those videos that only serve to waste your time
  • And it is certainly not impossible to tell your friends that you are trying to accomplish something really important

Prioritizing the various elements in life is one of the most important things you can do as a human being.

You have been reading and researching about the examination long enough. It is time to start your engine and get on with it!

To aid in this goal, be sure to download our free study planner guide to brush up on your time management skills before exam day.

 

Mistake #2: Going at the Wrong Pace

You have started and this is a major accomplishment. But the story isn’t over by any means and we find another studying mistake.

Equally important in starting to study for the examinations is properly pacing oneself in the preparation phase.

An all-too-familiar scenario that many candidates trap themselves in is making the mistake of not appropriately measuring the amount of content that has to be covered. 

As a direct result of this, one of two things tend to happen:

  • A candidate moves too slowly and eventually will be pressured by not having enough time to go through all of the required sections
  • A candidate moves too quickly and would have missed the opportunity to be more thorough in those difficult areas before exam day

All candidates will naturally read and work at a different pace. In addition to this, all candidates will have varied levels of work experience.

These areas will directly influence the time required for them to go through the necessary segments.

Some will move faster than others…this is okay.

Some will move slower than others…this is still okay.

The important factor in this equation is to understand the amount of time YOU will need to properly cover the entire syllabus while affording you adequate time to practice exam questions before D-day.

 

Mistake #3: Having Separate Lives

Your study life, family life, work life and recreational life. All separate are they? Not so fast.

In the growing list of studying mistakes, we see candidates trying to exclusively build a garden around these parts of their life. This is not necessarily a good thing to do.

One of the best ways to better integrate study with work, family and fun is simply to share a calendar of events. In separating calendars, we often are fooled in believing that there is more time than there actually is.

Whether you are writing on a traditional calendar or using an electronic one, be sure to clearly mark out time-slots that will be used only for their intended purpose.

There is nothing wrong in communicating with your family and friends that, at this given time on these given days, I will need to be in total focus for exam preparation.

Try to get these persons on board with your plans as soon as possible and as early as possible and it will make a massive difference in your life!

 

Mistake #4: Ignoring Your Health

No, this is not a health blog but the benefits of maintain a good health standard or practicing techniques that will benefit your well-being are well documented.

Whether it’s walking, running, swimming, going to the gym or even having meditation sessions, you must do something that will get your blood pumping and flowing faster than molasses.

Having regular physical activity will offer numerous benefits to you both in the short term as well as the long. Your;

  • Sleeping pattern will improve
  • Memory and focus will improve in the long run
  • Energy levels will be naturally increased
  • Mood will improve
  • Confidence levels will increase with time

 

Mistake #5: Not Having an Exam Day Plan

In studying for your exams, it is also fundamentally important to note that going through the steps of arriving at the test center is also important.

Please plan ahead and set out your transportation mode and timelines in order to reach the test site at least one hour before the official start time.

Rushing from travelling on the road and going straight into doing the test is not a great plan. Having ample time to settle down and be mentally at ease is of great importance and will aid in gaining peak performance.

 

Mistake #6: Having a Low Exposure to Practice Exams

Are you guaranteed to fail your examination if you don’t practice questions beforehand? Absolutely not.

There are some candidates who manage to achieve this feat but why take on the risk?

Think of how much better off you’ll be once you expose yourself to possible examination questions and even practice under examination-like scenarios!

In order to prepare and maximize your chances of success, we wholeheartedly recommend that all candidates go through as many FRM questions as they possibly can.

Testing yourself thoroughly under exam-like scenarios. In doing this, we guarantee that you will be much better off for success.

We will also quickly note that a mix of questions from third-party providers and those from the official GARP website is the best way to go.

 

Mistake #7: Skipping Exam Questions

It is unfortunate that this comes in as a studying mistake but we would like to be absolutely clear on this point.

Under NO circumstance should you be skipping or ignoring an examination question. You will NOT be penalized for any incorrect answers!

By selecting an answer, at least you will have a chance of actually getting it right. This scenario is a lot better and more sensible than not putting a selection down and being certain that you will not get a mark for it.

GARP has indicated that they are not going to disadvantage you in any way by selecting an incorrect answer, so be sure to have each and every question accounted for before leaving that examination room.

 

Mistake #8: Having Poor Time Management in the Exam

Among the notoriously common studying mistakes is having poor or no time management skills in the examination room.  

Countless students over the years have fall victim to the trap of spending way too much time on a few questions. And what happens next? They rush through easier ones or questions that actually require an extra bit of effort.

Always be sure to pace yourself wisely and always be mindful of the time during the test.

 

Mistake #9: Trying to be an Expert in all Things  

Becoming an expert in anything will take much time and require much effort. Nevertheless, your goal in studying for the examinations is to have a broad spectrum when it comes to knowledge.

Spending all your time in scrutinizing every single detail in Quantitative Analysis will not be beneficial in your efforts to pass the exams.

While it is essential to know the important details about the GARP program you are getting into, you must have a tactical mindset and spend the appropriate amount of time that reflects the examination weighting for each segment.

Yes, you may need to spend a bit more time on those areas that are giving you problems. But do not spend too much time in doing so.

You may have to move on and them come back to problematic areas. You may even find that the break will do you good or attaining knowledge in another area will help you in your present struggles.

 

Mistake #10: Ignoring Topics

We understand that time may be extremely limited for you or that you may have genuine difficulty in understanding certain parts of the syllabus.

But completely ignoring a segment and hoping that it won’t show up on the question paper is never a good idea.

The last thing you would want to experience is having to tackle some full item-set in exam that your purposefully skipped over in studying.

In addition to this, remember that your goal in this journey isn’t simply just to pass the exam.

Your goal as an individual bent on becoming a better professional is to have a greater understanding of all the presented issues and concepts that are being introduced to you in this program.

By not skimping on the presented areas, you will become a more rounded and useful individual in the workplace and in your personal life.

 

Mistake #11: Not Testing Your Abilities before the Exam

While you may not like to learn that you are behind the curve, it is an extremely important piece of knowledge to have BEFORE entering the examination room.

Knowing where your weaknesses are will enable you to put focus on those necessary weak areas and will cause you to become a better prepared candidate.

You may choose to do these testing exercises in private at firm before doing them in a group setting.

But whatever path you take, you must realize that testing yourself under a mock exam setting will only help your chances of exam success.

You are at a crucial point in time and putting your head in the sand will not help in one bit. Know your strengths. Know your weaknesses. Work on both by going through our selection of tough questions.

 

Mistake #12: Studying in Isolation

While it is certainly true that some candidates will be able to review the provided materials on their own and ace the test.

It is also true that many candidates can benefit greatly from being in the presence of and participating within a group study environment.

Many students will have the experience of being able to understand a concept much more quickly when it is explained by a fellow student.

This practice also helps the person explaining a problem to retain their own knowledge for longer periods.

However, it is not automatic that one will always benefit by being in such a setting. Many have found themselves in “toxic” groups that only serve to frustrate and waste time.

This is another one that you must escape from without hesitation.

 

Mistake #13: Choosing the Wrong Study Group

Fortunately, there are several pointers that we can share with you when it comes on to group studying.

One of which is to team up with individuals who clearly share the goal of effectively using the time to do actual studying, reviewing, having relevant discussions and practicing questions.

If you find that persons are simply meeting up to discuss the latest gossip or to lament their personal situation, then politely and swiftly excuse yourself from that setting.

It is always a good sign when the participating persons bear similar commitment, have a similar study schedule and show a laser-like focus on completing set tasks.

It is also a bonus when these students live in close proximity to each other and you are able to meet on a regular basis. Another pointer that we would like to share deals with that of limiting the size of the study group.

When groupings are too large, it will be easy for persons not to carry their weight and to simply hang back and have others do all the research and work.

A small focused group will put enough pressure on all to “show up” and make an effort.

Lastly, a leader may have to be selected. One who is dependable and will command the attention and respect of the other group members.

 

Mistake #14: Punishing Yourself

I don’t have enough experience. I am too young or too old. There is not enough time

Not having the right mindset is one of the common FRM mistakes that you will want to avoid at all costs.

Defeating yourself mentally before even putting your foot into the examination room will serve no purpose but to stifle your future achievements.

We urge all candidates to always carry a positive mental outlook on all things and never fall into the trap of being self-defeating, as this can never be the attitude in the life of a risk manager.

Even in instances where things do genuinely look bleak, still be positive and do all that you can and do this to the best of your ability.

We hope you have enjoyed reading our piece about the studying mistakes that you must avoid.

We sincerely hope that none of these will define you on or before exam day!

Be sure to check out our article on the most frequently asked questions in the GARP program. It is filled with a lot of valuable information that all students must know!

 

Never give up,

The QuestionBank Family