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FRM Practice Exam Questions | 9 Pros and Cons of using them

Estimated reading time: 9 minutes

 

Introduction

One of the proposed study techniques by GARP and other educational experts is using test questions. This technique can be advantageous, but it also has its downsides.

For candidates that eye a flourishing career in financial risk management, these exams are like a life and death struggle.

The shrilly alarm clocks, the after-work classes and flash cards of mathematical concepts on your fridge door- all that hard work is warranted for the prestigious title.

Read on to see both sides in the battle of using mock questions.

 

9 Pros

 

1. You will know what areas you are strong in

Strictly speaking, your study plan will not be complete without practice questions. GARP provides one practice test for each of the level and level 2 exams when you register.

However, you can also use third-party providers to get many test questions for regular self -assessment.

These test questions give feedback to you on those course areas that you have already mastered. This kind of information is vital so that you can adjust your study plan accordingly.

Ideally, that means dedicating more time to your areas of weakness. In so doing, you get to balance out your knowledge and exam preparedness in all the topics.

 

2. You will know what areas you are weak in

Even with the most comprehensive study guides, knowledge gaps are part and parcel of learning. Successful students will identify and fill these gaps before the actual exam dates.

When studying for the exam, you can use a bank of practice questions to pinpoint such areas where more effort is needed.

With an exam that is scored immediately, you will have enough time to brush up on the rusty areas before the exam D-day.

After identifying an area of weakness, the next course of action would be to allocate more time studying and researching these areas.

You could also seek the assistance of certified FRMs or exploit the pooled knowledge of your study groups.

 

3. Repeated self-testing will boost your confidence

One thing’s for sure; when you walk into the examination room after taking several repeated tests, you are highly likely to feel a higher level of optimism.

Practice tests not only help you to perfect on the areas of your weakness but also sharpen your test-taking skills.

After experiencing simulations, the actual exam timing, the nature of questions and the atmosphere will not intimidate you.

Perhaps obviously, the actual exam demands more from students. Memorizing data and facts is not enough. You will need to get used to the concept of applying knowledge to practical settings.

Solid exam tests prepare you for these scenarios. Our practice questions are structured to be very challenging. You will require rapid and critical thinking to get through our books!

 

4. Self-testing will improve your efficiency

The GARP course will test your cumulative knowledge in several areas of risk analysis and risk management. These tests will be both theoretical and practical in nature.

The exam is the bridge you need to cross over to become a globally recognized financial risk expert. Frankly, the questions are complex and the timing is stringent.

However, after taking our questions in an exam-like scenario, your efficiency will significantly improve.

After taking many practice questions, over time you will develop a strategy for handling the questions. You will develop a knack for unraveling the catch in GARP’s tricky questions.

You will get used to the phrasing and the multiple choice options that look nearly the same.

Pacing is yet another aspect that you will benefit from mock tests. Without using practice questions, you will find it hard to keep time in the actual examination.

Time may run out before you are able to complete everything. Using practice questions allows you to better allocate the right amount of time to each question.

 

5. Familiarity will make you more relaxed and focused

The best exam replicates the complexity of the actual exams. Our practice tests comprise of qualitative and quantitative questions that help candidates master their skills in all the concepts and terminologies.

After repeated practice exams, you will have the ability to handle any question, regardless of its format or concept test.

 

6. Using our difficult questions will make you better-prepared

Our questions are oriented towards making students better prepared for the challenging nature of the actual exams.

Measuring yourself with these difficult tests will help you master your ability to handle wordy and complex questions in advance.

Immersing yourself with our content gets you ready for the real exam. Practice will anchor you to a healthy study routine so don’t ignore them.

You will learn the quick and easy ways to study when the exam is around the corner, and how to handle yourself during the real test.

The truth is, tests can be a great indicator of how well you can perform under pressure. As you get better in these tests, you build the mental stamina and confidence to perform well on the big day.

Come the exam day, you will be among the most stress-free candidates out there. And not to mention, among the ones most likely to pass!

 

7. It’s a great way to relieve nervousness and anxiety

Usually, candidates experience a lot of pressure and stress during preparations. It’s natural and acceptable; the stakes are high.

On one hand, it is your golden ticket to the globally acclaimed FRM designation. On the other hand, you will have invested a lot of time and money in it.

However, did you now that being too anxious can derail your ability to pass a test? Research shows that anxiety interferes with memory.

You can help the situation by getting acquainted with the exam scenario. Taking our questions before the actual test will help to calm your nerves. You will learn to overcome tension…or harness it for improved efficiency.

Practice births perfection, and in this case, it helps to quell overflowing adrenaline on the examination day.

 

8. Being able to help others

Regular rehearsals help you identify your strengths, and you can further cement your knowledge by helping others. You can never be so sure about your skills in any topic until after repetitive assessment in an exam like a scenario.

After performing well in the mock tests, you are sure to have the confidence to make positive contributions in your study groups.

 

9. Retain Information for longer 

Incorporating these test drills in your study plan is a surefire way to improve your retention capacity. Cognitive psychologists have found that students that study in short and regular periods retain more information than those who take up one study marathon to the actual exams.

It is therefore advisable to break up your studies with periods of mock tests. The information you will learn when you take the drill and review your performance will stick in significant ways.

You will perfect your ability to remember and apply formulas, compute and apply appropriate risk paradigms to complex real-life problems in the financial world.

 

9 Cons

 

1. You may develop over-confidence

This happens a lot with questions that are not standardized to match the complexity of the actual exam. Getting good results in an easy mock test gives you false confidence.

You will walk into the real test expecting superb results only to be disappointed.

The best session needs to be designed by expert professionals in the field. We consider ourselves an experienced and trusted provider of study materials and questions. Our questions test all major topics in the course.

Try us out today…you will not be disappointed!

Even with the right tests, you might fall into the temptation of relaxing when you get high scores. Overconfidence builds, and you dedicate less time to studying. That could end in disaster in the actual exam.

 

2. Not allocating your time effectively

The key to gaining the advantages explained in the first section of this post is using high-quality tests. Qualified experts should be the ones behind the creation and scoring of these tests.

With a sub-standard test, you are likely to waste much time in questions that are outside the realm of the exam.

Then again, even with adequately formulated test questions, there is no guarantee that similar questions will appear in the actual exam.

You must set aside enough time for going through the GARP approved textbooks and notes.

 

3. Easy questions that make you under-prepared

The primary purpose of our questions is to help you identify your areas of weakness and amend them. They should help you find out which areas of the materials you find hard to understand so that you can seek help.

Using easy questions will do you a disservice. Practicing with low-grade questions is as bad as not practicing at all. You walk into the review blindly, with all your weak points not addressed.

You will be under-prepared for the complexity of the real exam.

 

4. Failing to understand the underlying concepts

As a student. you might become skilled at handling questions by taking many mock trials. Your ability to unravel the meaning of questions, terminology and structuring or answers might be top of the mark.

However, if you remember facts but do not understand the underlying concepts, it defeats the whole purpose of pursuing the course.

 

5. Your focus may be shifted towards simply passing the exam

There is a chance you become grade-oriented instead of knowledge oriented. The field of finance and risk is upbeat, and professionals have to solve complex challenges each month.

To survive the job demands, you must have real knowledge and mastery of the concepts of risk.

 

6. Memorizing for the short-term and not internalizing

The mock tests measure a student’s superficial knowledge and fail to analyze whether they have internalized hard concepts.

Poor performing students in the mock tests may often end up surprising everyone with excellent scores in the real exam.

Students that are exam-oriented will have a high score in the mock tests but risk failing in the real exam. That is because they focus on memorizing for the short term and not for the long term application of knowledge.

 

7. Ruins the efficiency of study groups

These tests may interfere with the cohesiveness and effectiveness of study groups by pushing candidates to compare and compete among themselves.

This comparison is not good for the survival of any study group. It births individualism, where every student focuses on perfecting their own space and not helping others with their difficulties.

 

8. Burnout and stress

Overusing quizzes might become a significant source of stress and exhaustion for students.

Especially when you are anxious to improve your chances, you might get frustrated at the consistently low performance in your areas of weakness. That could lead to despair before the actual exam.

It also takes plenty of time to properly prepare for the tests. You might find it hard to remember facts and concepts come the actual exam day because of the burnout and anxiety.

The exhaustion and anxiety will gradually result in loss of faith and interest in your coursework.

 

9. Can kill your morale

For a student that has been dedicating a significant portion of their time to studying, low performance in the mock tests can kill morale.

That is especially true if after repeated self-assessments reveal that no improvement is recorded. You risk walking into the exam room with zero confidence, when in truth you have all it takes to pass the examination.

Mock questions could be just too complicated or improperly structured thus giving you poor scores even in areas where you have the best knowledge.

The mock tests can, therefore, be a very inaccurate way of measuring your intelligence.

 

In a Nutshell

Passing this challenge takes dedication and adequate preparation. One of the most tried and tested technique is using mock questions.

This option is a suitable way for the candidate to find their areas of strength and to rectify their areas of weakness before the actual exams.

FRM practice exams might boost confidence, help students to internalize concepts and help to reduce nervousness and anxiety.

However, the mock test can also have adverse effects like stress and burnout and overconfidence among other things. It is up to you to figure out which questions are ideal for you, and how best to approach them.

 

Fight on and never give in,

The QuestionBank Family