Can You Take Both FRM Levels on the Same Day?
Yes, it is entirely possible to take both FRM (Financial Risk Manager) levels on the same day. However, there are certain important guidelines and considerations you need to be aware of before proceeding with this approach.
Structure of the FRM Exam
The FRM exam is divided into two levels, with each level covering a comprehensive range of topics in risk management. Here’s a brief overview of the exam structure:
FRM Level 1
Quantitative Analysis (about 54% of the exam) Financial Markets and Products (about 25% of the exam) Risk Management Foundations (about 21% of the exam)FRM Level 2
Financial Reporting and Analysis (about 57% of the exam) Quantitative Analysis (about 22% of the exam) Market Risk Measurement and Management (about 14% of the exam) Credit Risk Measurement and Management (about 7% of the exam) Operational Risk and Coral Management (about 2% of the exam)Given the complexity and scope of both levels, taking them on the same day can be a challenging task. It requires a significant amount of preparation, discipline, and time management skills.
Is Taking Both on the Same Day Recommended?
There is no specific recommendation from the Global Association of Risk Professionals (GARP), the governing body of the FRM exam, about whether you should take both levels on the same day. However, based on the exam structure and the nature of the subjects, many candidates choose to take the exams on separate days for the following reasons:
Preparation Time: Both levels require robust preparations. Skipping the time to sit through each exam might not provide enough time to absorb the course material and practice problem solving under exam conditions. Day-to-Day Energy Management: Taking both exams on the same day can be extremely exhausting. Modernizing your exam schedule can help you maintain your mental and physical energy for the best performance. Pressure and Stress: Handling the stress of two exams on the same day can significantly impact your performance. Taking each exam on a separate day can be a better strategy to handle stress effectively. Confidence and Problem Solving: Having a day in between the exams can allow you to review your answers, resolve doubts, and collate your thoughts. This can give you renewed confidence when you proceed with the second exam.GARP's Policy on Exam Scheduling
GARP recognizes the importance of personal preparation and stress management for candidates. They do not enforce strict guidelines regarding the number of days between the two exams. However, it is important to note that if you fail Level 1, your Level 2 exam will not be reviewed.
For candidates who wish to take both exams on the same day, it is highly recommended to:
Plan Thoroughly: Create a comprehensive study plan with well-defined timelines. Ensure you cover all the necessary topics for both levels. Seal the Exam Room: Focus solely on the materials you need for the day and avoid any external distractions. Stay Hydrated and Aboveboard: Maintain a healthy diet and adequate hydration. Ensure you take regular breaks to avoid fatigue. Manage Stress: Employ stress management techniques such as meditation or deep breathing exercises to help you stay calm and focused.Conclusion
In summary, while it is allowable to take both FRM levels on the same day, it is essential to assess whether your preparation and energy management are sufficient for such a challenging task. Taking the exams on separate days can provide you with the best opportunities for success, especially when it comes to handling the stress and ensuring your full focus and dedication to each level.
If you choose to take both exams on the same day, make sure to consult with experienced professionals or other successful candidates to learn from their experiences and strategies. Remember to prioritize your well-being and preparation to maximize your chances of success in both FRM levels.