I failed in FRM L1 which i attempted on may,14 and am attempting again this november.I have a pretty good idea how NOT to prepare.
Things NOT to do:
1)Read course like a novel.
one should not read whenever he gets time,like for 10 mins or 30 mins in a break.
2)Reading all theory first and practicing it later.
Things to DO:
1)study for hours at a stretch.
sit with your material continuously for 2-3 hours.
2)It doesn't matter if you practice after each chapter as you wont be remembering any of it by the end of the preparation so keep practicing all at once after 1 full reading.
3)Few online courses which costs around 7K INR gives video lectures and interactive webinars,that will be helpful.
4)Practice more.If you start solving problems from day 1 then you dont need to study theory at all.You will understand concept while you practice problems.
ALL THE BEST
@Masthan Thanniru,Certified FRM
I have cleared both levels of FRM in 2014.Like any other course,best way to prepare for FRM is understanding the concepts first.When I prepared for FRM level I,using Schweser material,I stressed mainly on solving the problems using the given values and formulae I know.But,after giving the exam(fortunately I cleared it),I understood that I was very weak at basics.
Because,FRM exam questions are of a different league to what I have practiced.They looked like real world problems...complex and confusing.
So understanding the concepts well is the first priority.
To understand the concepts you have to read as much as you can.Sitting for long stretches(2 hrs minimum)will help you in studying as well as practicing at the same time so that you understand evertything well.
Practicing problems using calculator is very important as maximum questions in the exam require you to use your calculator.Frankly speaking,these are the easier ones because questions based on theory require very deep understanding of the concepts and can be confusing.
I felt Level II curriculum is very difficult compared to level I.I had to send away my family for a month to get some time to study.I increased my preparation level aswell just to be sure I am strong in everything.
FRM is not as difficult as often projected.If you have Maths/engineering background,then go for Schweser,and if not then go for GARP material.You can definitely take help from some paid videos or even go for a tuition for better guidance.
But if you want to self study,you can start studying the book and as soon as a chapter ends practice problems.Keep noting down the ones you don't get correct,try to understand why.
Then when you complete your full material,just read the summary given at end of each chapter and then do those problems which you got incorrect at first time.
If you are still getting more than 50%wrong,revise the concept fully and move to mock exams.