Financial risk management exams are globally accredited and has certification for the professional designation of a financial risk manager. The role of a financial risk manager is to assess risk and work for major banks, insurance companies, asset management firms and accounting firms. Under his job description, they identify threats to assets, success of a company or firm and the earning capacity.
For the financial risk manager to be fully accredited and designated, they must undertake in an exam plus two years of working experience in the same field. Globally, the financial risk management exam is known and accepted. The context of the exam is set in applying the tools and techniques in risk management in investment management process.
Certain steps have to be taken when one wishes to pass the exam or in preparation for it. Time would be the first consideration in preparation for the exams. Planning the time well long before the exam is necessary to give ample time for revision. Creating the schedule is important in avoiding reading the days before and knowing where one stands.
The areas that one feels is poor at should be given more time to be read on. A serene reading environment should be created in which a person creates a reading space. The reading environment helps in keeping distractions away during revision times. A network should be created in terms of a study group. Learning from other group members helps in strengthening the areas one struggles with and also strengthening the strong areas. Group members should have at least a person or qualified financial risk manager who had already done the exam to guide the rest on what to expect and what to revise on.
It is good practice to rest in between the revision times. Breaking in between the studying is a good opportunity for one to rejuvenate and relax. Exposing oneself to practice questions helps in preparation for the examination. Final preparation involves counterchecking the items to use during the examination.
It is good practice during the exam to; go through the paper, read all the questions, tackle the easy ones first, maintain focus on the examination, maintain calm during the exam and check to have answered all questions. Keeping calm helps in boosting ones’ confidence during the exam and avoid panic. Reading through and tackling the easy questions first is a good way for boosting confidence during the examination. As the last step, counterchecking the exam and answers is good practice to ensure you have answered correctly.
If one prepare well for the exam, then the whole process would turn out to be successful and less strenuous.