2009 FRM® Examination Study Guide
Topic Outline, Readings, Test Weightings
The Study Guide sets forth primary topics and subtopics under the five risk‐related disciplines covered in the FRM exam. The topics were selected by the FRM Committee as topics that risk managers who work in practice today have to master. The topics are reviewed yearly to ensure the FRM exam is kept timely and relevant.
FRM Examination Approach
The FRM exam is a practice‐oriented examination. Its questions are derived from a combination of theory, as set forth in the readings, and “real‐ world” work experience. Candidates are expected to understand risk management concepts and approaches and how they would apply to a risk manager’s dayto‐day activities.
The FRM examination is also a comprehensive examination, testing a risk professional on a number of risk management concepts and approaches. It is very rare that a risk manager will be faced with an issue that can immediately be slotted into one category. In the real world, a risk manager must be able to identify any number
of risk‐related issues and be able to deal with them effectively.
Readings
Questions for the FRM examination are derived from the readings listed under each topic outline. These readings were selected by the FRM Committee to assist candidates in their review of the subjects covered by the exam.
It is strongly suggested that candidates review these readings in depth prior to sitting for the exam.
The Financial Risk Manager Handbook, 5th edition, by Philippe Jorion (New York: Wiley & Sons, 2009),
covers most of the FRM examination topics at the appropriate level. However, please note that the FRM Handbook was designed to help candidates review the material and is not a textbook. Alone, the FRM Handbook is not sufficient to prepare a candidate to pass the examination. The FRM Handbook includes an interactive CD with questions and answers from previous FRM exams to assist candidates with theirexam preparation.
FRM Course Providers
Some candidates may want to more formally review the materials with FRM Course Providers. Course Providers are listed on the GARP website. GARP does not endorse any Course Provider but merely lists them as a service to FRM candidates.
2009 FRM Exam Full FRM & L1與2010年 L1&L2的考試主要內容及權重如下表:
級數 |
考試科目 |
考試主題 |
Full FRM |
Level 1 & 2 |
比重 |
題數 |
比重 |
題數 |
FULL FRM |
Level I
(2009 11月) |
Foundations of Risk
Management |
金融風險管理基礎、職業道德 |
10% |
14 |
20% |
20 |
Quantitative Analysis |
數量方法 |
10% |
14 |
20% |
20 |
Financial Markets and
Products |
金融市場與產品 |
15% |
21 |
30% |
30 |
Valuation and Risk Models |
VAR方法與
風險模型 |
15% |
21 |
30% |
30 |
Level II
(2010年5月及11月) |
Market Risk Measurement
and Management |
市場風險 |
10% |
14 |
- |
- |
Credit Risk Measurement
and Management |
信用風險 |
10% |
14 |
- |
- |
Operational and Integrated
Risk Management |
操作與整合性風險 |
10% |
14 |
- |
- |
Risk Management and
Investment Management |
投資風險管理 |
10% |
14 |
- |
- |
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