Estimated reading time: 2 minutes
The number of people seeking to be certified Financial Risk Managers is steadily increasing each year.
This is due to the high demand for professionals to assist in managing risks for corporations, banks, hedge funds and other institutions.
Portfolio managers are becoming more risk-aware and this has been attracting larger numbers to this certification.
Those intending to obtain this achievement should understand that passing the exams given by the Global Association of Risk Professionals (GARP) is not easy.
They are known to be a huge obstacle and a great percentage unfortunately tend to fail on the first try.
In this guide, we’ll delve into some of the tips you need to be mindful of when preparing yourself for the big day.
Go for commitment
For each part of this two-part course, you’ll probably need over 300 hours of serious study. Otherwise, the last-minute cramming will lead you to failure.
No student should overlook those hours but commit to them. You should begin studying right after registration. In fact, we believe you should start preparing even before you formally register.
Candidates will be tested on their ability to read, analyze, and apply the right concepts.
Therefore, you have to commit yourself fully to the task. Begin by downloading the learning objectives.
Also, study all the areas without skipping topics that you might think require no help.
Remember to: commit, practice and prepare.
Make a study plan
Although some students find it easy to structure a study plan, others are likely to be confused about where to begin.
Having a well-structured plan before you begin preparations is of paramount importance.
This helps you gain more knowledge, and more so, you can tell when your other activities are interrupting your preparation efforts.
A study plan also guides you towards a better understanding of concepts and ways to apply them in a timely manner.
Although you may run into strange questions that don’t seem to relate to what was prepared for, cramming will leave you confused and devastated.
The topics you are tested on call for a properly structured study plan, not last-minute reviews of major subject material.
The online world has preparation packages that can turn uncertainties into confidence.
These materials can provide powerful materials, access to practice questions, and amazing guides.
When all these are organized for you, it gives you enough time to familiarize yourself with the topics and ways of answering questions.
Some questions will require the use of a formula and some calculations.
However, you can sometimes easily identify the right answer straight away…as long as you truly understand the relationship or concept you are tested on.
Keep in mind that the more you practice; the easier it becomes to narrow down the answers and better differentiate between irrelevant and relevant information.
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