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  1. Asked: May 10, 2022

    Which is the best way to study for the FRM exam?

    CA Yash Jain, FRM
    Best Answer
    CA Yash Jain, FRM
    Added an answer on November 20, 2022

    Let me give a quick overview of what you can expect from the FRM exam and how to study for it:   Let's Understand the Exam Format: FRM Part I - The FRM Level 1 exam consists of 60+  topics across 4 subjects, and it is a 4-hour long exam without any break in the middle. It's designed to test youRead more

    Let me give a quick overview of what you can expect from the FRM exam and how to study for it:

     

    Let’s Understand the Exam Format:

    • FRM Part I – The FRM Level 1 exam consists of 60+  topics across 4 subjects, and it is a 4-hour long exam without any break in the middle. It’s designed to test your conceptual knowledge, so you can expect more theory questions than practical ones (around 60-65% theory and 35-40% practical).
    • FRM Part II – FRM part 2 is the second and final level of FRM certification. The FRM part 2 is considered as an advanced level exam that has 6 topics. The mode of exam is computer-based testing and it has 80 MCQ questions. 

    How many study hours are needed?

    • FRM Part I – On average, it’s suggested that you study for 340-400 hours for the FRM Level 1 exam. You can break it down into 180 hours for first-time reading, 100 hours for revision with book questions, and 70 hours for a second revision.
    • FRM Part II – Usually the prep can be done in 450 hours, with approximately 220 hours for first time reading, 120 hours for first revision and 110 hours for second revision + Mocks.

     

    Which books are to be referred to?

    • FRM Part I – Schweser books are the most commonly used material for FRM Part I.
    • FRM Part II – In part 2 we would suggest to go through the Schweser books once for all topics, after that go for GARP or Bionic turtle for the difficult chapters as they have been described well and at a stretch in these books.

     

    Question Banks and Mock Tests 

    • FRM Part I – To help practice, there are plenty of question banks available, such as Quintedge (Disclaimer – I’m the co-founder at Quintedge) or Bionic Turtle. I won’t recommend Schweser since the difficulty level is not at par with the exam.
    • FRM Part II – Same recommendation as Part I. You can also consider Analystprep.

     

    What study sequence should you follow?

    • FRM Part I – Start with Quantitative Analysis (Book 2), which is mostly practical and statistics-related. Next move to Foundation of Risk Management (Book 1), which is mostly theoretical in nature. Then move on Financial Markets and Products & Valuation and Risk Models (Book 3 & 4) together, as they cover similar topics like interest rates and derivatives.
    • FRM Part II – Start with Market Risk, then move on  to Credit risk. Then, Operational Risk > Investment Risk > Liquidity Risk > Current Issues. I have given a logical explanation of the above sequence in the blog which is given in References below.

     

    Most Importantly, Stay Motivated!

    With so many topics to study, it’s easy to feel exhausted and demotivated. To stay motivated: take a cheat day once every three weeks, mix it up by studying lighter topics after complex ones, and talk to other candidates or those who have cleared Level 1 on LinkedIn or Telegram.

     

    I hope this gives you a good starting point for your FRM journey! Remember to take it one step at a time, and stay focused and motivated. Good luck!

     

    References
    [1] https://quintedge.com/how-to-study-for-frm-part-2

    [2] https://quintedge.com/how-to-study-for-frm-part-1/

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  2. Asked: February 27, 2020

    Which is the best teacher for CA inter Tax classes?

    Shbana Pascal
    Shbana Pascal
    Added an answer on February 24, 2021
    This answer was edited.

    Taxation is the fourth paper of the CA Inter exam. I feel that it is an easy subject, but you will have to have excellent guidance throughout your preparation, and only then will you be able to clear the exam. Some people face a lot of difficulty in studying this subject. However, this is a scoringRead more

    Taxation is the fourth paper of the CA Inter exam. I feel that it is an easy subject, but you will have to have excellent guidance throughout your preparation, and only then will you be able to clear the exam. Some people face a lot of difficulty in studying this subject. However, this is a scoring subject, and it can surely help you improve or grow your overall CA Inter score if appropriately studied. 

    I have a few good teacher suggestions for you to help you clear your mind and move further in your preparation process. These names are from my own experience, and some are from my friend’s and colleague’s suggestions. 

    • MK Gupta Sir
    • CA Bhanwar Borana 
    • CA Raj Kumar 
    • CA Vijay Sarda 
    • CA Vishal Bhattad 
    • CA Neeraj Arora

    These would be my top 6 preferences, but if you ask me who is the best, with my own experience, I would say MK Gupta sir is the best teacher for Taxation in India. I have cleared the exam with his mentorship, and for me, he will be the best teacher in the country. 

    I would suggest that before finalizing the teacher, you must go to the websites or youtube channels of these teachers to see their details and demo lectures. This activity will help you get a clearer picture of who would be your best choice.

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  3. Asked: August 5, 2019

    How is iQuanta for CAT coaching?

    Raghvendra Mohanty
    Raghvendra Mohanty
    Added an answer on January 18, 2021

    iQuanta is India’s No. 1 online CAT Coaching. iQuanta consists of a team of highly qualified & experienced faculty members. Over the years, iQuanta has delivered fabulous performances for bringing revolution in the CAT exam.  Remember that the Institute is not for spoon-feeding you. You also havRead more

    iQuanta is India’s No. 1 online CAT Coaching. iQuanta consists of a team of highly qualified & experienced faculty members. Over the years, iQuanta has delivered fabulous performances for bringing revolution in the CAT exam. 

    Remember that the Institute is not for spoon-feeding you. You also have to make the necessary efforts in terms of practice & learning by yourself too. They do not differentiate between students who have joined their classes & students who have not. One can learn all the tricks & shortcuts even without joining the classes just by following each & every post of their Facebook group. They also started an initiative called ‘Learn & earn‘ where students can even earn while solving other doubts in a proper & detailed manner. No other coaching provides this sort of opportunity to any student. So, iQuanta is the best Institute for CAT coaching.

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  4. Asked: February 1, 2021

    Schweser or Bionic turtle – Which one is better for FRM Part 1?

    Pritika Joshi
    Pritika Joshi
    Added an answer on June 11, 2021

    There is no clear answer to the question of which is better for FRM Part 1: Schweser or Bionic turtle. Some argue that Schweser puts the right amount of emphasis on every topic, providing just enough information without overwhelming students with unnecessary details. Others claim that Bionic turtleRead more

    There is no clear answer to the question of which is better for FRM Part 1: Schweser or Bionic turtle. Some argue that Schweser puts the right amount of emphasis on every topic, providing just enough information without overwhelming students with unnecessary details. Others claim that Bionic turtle goes too deep into certain topics, which can be useful for those looking to gain a deeper understanding of certain concepts. Ultimately, it comes down to personal preference and how much time you have to devote to studying. Some people may prefer the more exam-oriented approach of Schweser, while others may gravitate towards the more in-depth nature of Bionic turtle. Therefore, there is no one right answer when it comes to choosing between these two study materials.

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  5. Asked: October 16, 2019

    Can I work abroad after clearing CPA (US) course?

    Nitin Agarwal
    Nitin Agarwal
    Added an answer on February 4, 2022

    Since CPA is globally recognized, I suppose it is possible. The CPA also gets preference in MNCs. As CPA teaches international Accounting standards, a CPA professional can work in a foreign country very easily and gets placed with a very good package in top international accounting companies.

    Since CPA is globally recognized, I suppose it is possible. The CPA also gets preference in MNCs. As CPA teaches international Accounting standards, a CPA professional can work in a foreign country very easily and gets placed with a very good package in top international accounting companies.

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  6. Asked: February 6, 2019

    Which course is tougher – CFA or CPA?

    Chirag Gupta
    Chirag Gupta
    Added an answer on April 9, 2021

    The CFA course is more about finance, and CPA is more about accounting, and both are equally difficult to crack. However, the CFA course is more challenging than the CPA course. CFA gives knowledge of the financial products and tools and usually applied to financial institutions for financial analysRead more

    The CFA course is more about finance, and CPA is more about accounting, and both are equally difficult to crack. However, the CFA course is more challenging than the CPA course. CFA gives knowledge of the financial products and tools and usually applied to financial institutions for financial analysts, economic analysts and other financial risk sectors. 

    On the other hand, CPA applies to the accounting field. CFA course structure is harder than the CPA course, and the passing rate is also below the CPA course. Students need to prepare three times more than the CPA exam for the CFA qualification.

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  7. Asked: January 27, 2020

    Is the CPA course worth it?

    Atul Kashyap
    Atul Kashyap
    Added an answer on May 24, 2021
    This answer was edited.

    Definitely Yes, because CPA is a Certified accounting course that has a vast scope in accounts or finance. Becoming a CPA means getting decent salary packages and reputed jobs in well-known firms like BIG4s, Infosys, Accenture and others. This course is provided by the American Institute of CertifieRead more

    Definitely Yes, because CPA is a Certified accounting course that has a vast scope in accounts or finance. Becoming a CPA means getting decent salary packages and reputed jobs in well-known firms like BIG4s, Infosys, Accenture and others. This course is provided by the American Institute of Certified Public Accountants.

    After getting a CPA degree, one can:-

    • Increase Salary amount 
    • Get vast job opportunities 

    iii) Build own CPA firm 

    • Increase professional credibility
    • Get experience in accounting or finance
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