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The Chartered Financial Analyst (CFA) and the Financial Risk Manager (FRM), are the two most important and common designations in the finance sector. These two designations could advance your career, if you are thinking about working with investments or becoming a financial analyst.
The CFA stands for Chartered Financial Analyst, and the major focus of the CFA course is on Investment Management, which consists of three levels. The major topics of study included in this course are -
1. Corporate Finance.
2. Ethics.
3. Portfolio Management.
4. Fixed Income.
5. Derivatives.
6. Economics and Equity Investments.
The FRM on the other hand stands for Financial Risk Manager, and the major focus of the FRM course is on Risk Management, which consists of a two level exam. The major topics of study included in this course are -
1. Operational Risk.
2. Credit Risk.
3. Basel Norms.
4. Financial Markets and Products.
5. Market Risk.
The part 1 of the FRM exam gives a basic idea about the various techniques and risk tools, whereas part 2 provides a much more detail information about the study of various types of risks. The CFA syllabus covers some parts of the FRM syllabus, so that is an advantage for the students.
How to prepare for the CFA and FRM exams?
One has to devote considerable amount of time for both CFA and FRM exams. It is considered that the level two of the three exam is the most difficult. This is because the topics to cover in the syllabus of level two are vast. It is suggested for students to study atleast 250 to 300 hours for each level of the CFA exam. A minimum of 200 to 250 hours of study is suggested for each part of the FRM exam. Taking many practice exams is recommended and one should focus on the main and important concepts of the course.
For the best preparation, check out this course which provides online study notes and video lessons, that are regularly updated, high quality question banks that are responsible for replicating the difficulty of the exam, you can also challenge yourself with mock-exams which are available in PDFs and also in computer-based testing (CBT) format, and quizzes which you can take, in which you can increase the difficulty level by mixing different topics, so as to increase your performance and sharpness in the exam.
Check out the best selling CFA package here.
Check out the best selling FRM package here.
CFA study materials.
FRM study materials & video lessons.
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