If you are planning to take the GARP 2016-FRR Financial Risk and Regulation (FRR) Series exam, you will need to prepare thoroughly to increase your chances of success. The 2016-FRR exam is a comprehensive test that assesses your knowledge of financial risk and regulation concepts. It is designed for professionals who work in the field of finance, risk management, and compliance.
Exam Objectives:
The 2016-FRR exam covers several topics related to financial risk and regulation. The exam objectives include:
- Understanding the regulatory framework for financial institutions
- Assessing and managing credit risk, market risk, and liquidity risk
- Analyzing risk and return for various types of financial instruments
- Understanding the role of financial institutions in the global economy
- Identifying operational risks and developing effective risk management strategies
By passing the exam, you demonstrate your proficiency in these areas and your ability to apply risk management and regulatory principles to real-world situations.
The 2016-FRR exam is ideal for professionals who are involved in risk management, compliance, and regulation in the financial services industry. Candidates for the exam should have a good understanding of financial markets, instruments, and products, as well as the regulatory environment for financial institutions. The exam is also appropriate for individuals who are looking to transition into a career in risk management or compliance.
Prerequisites and Qualifications:
To take the 2016-FRR exam, you must be a GARP member in good standing. You also need to have a bachelor's degree or equivalent, as well as two years of relevant work experience. Alternatively, you can meet the work experience requirement with a master's degree or higher in a relevant field. Additionally, you need to pass the FRM Exam Part I before you can take the 2016-FRR exam.
Related Books:
There are several books that can help you prepare for the 2016-FRR exam. Some of the most highly recommended titles include:
- Financial Risk Manager Handbook by Philippe Jorion
- Value at Risk: The New Benchmark for Managing Financial Risk by Philippe Jorion
- The Essentials of Risk Management by Michel Crouhy, Dan Galai, and Robert Mark
- Principles of Risk Management and Insurance by George E. Rejda and Michael McNamara
- Foundations of Financial Risk by GARP
Exam Details:
The 2016-FRR exam is a computer-based test that lasts for four hours. The exam consists of 100 multiple-choice questions, and the passing score is 60%. The exam is offered in English and is available at various testing centers around the world. The exam fee is $400 for GARP members and $650 for non-members.
It is recommended that you study for the exam for at least 150 hours to ensure that you are adequately prepared. You can enroll in GARP's exam preparation courses, which provide comprehensive study materials, practice exams, and online resources to help you prepare for the exam. Additionally, you can join study groups and engage in online discussions with other professionals who are also preparing for the exam.
In conclusion, the GARP 2016-FRR Financial Risk and Regulation (FRR) Series exam is a rigorous test that requires extensive preparation. By understanding the exam objectives, prerequisites, and related books, you can develop an effective
study plan to pass the exam. Additionally, it is important to familiarize yourself with the exam details, including the cost, passing mark, time, delivery method, and format, to ensure that you are well-prepared on exam day. With hard work and dedication, you can successfully pass the 2016-FRR exam and advance your career in risk management and compliance in the financial services industry.