FRM, as the name suggests, involves ‘managing risk’. To ‘manage’ a risk, it is very important to ‘measure’ the risk and hence, the term, Risk Measurement.
So coming to the exam preparation, the method is very clear and involves three things:
1. Practice
2. Practice
3. More practice
The reason for so much emphasis on practice is the fact that the number of formulas involved in the FRM curriculum is humongous. There is not a single formula that is unimportant. Every chapter, every section involves a lot of formulas. While preparing a topic, by the time you reach the end, you’ll forget the formulas you learnt at the initial part of the same topic.
So the way forward is very simple. Do it over & over again. One more time! One more time! Practice!

Study Partner: Another important weapon to have while preparing for FRM is a study partner. Be it offline or online, a study partner helps you at any & every difficulty. You might be struggling with juggling and learning various formulas and your study partner might have figured out a smarter way to do the same. So the efficiency of your learning is equal to the best of all study partners.
What more? Try doing the preparation in a study group. Assuming the study group members involves all serious candidates, there is nothing like it.

Preparation Timeline:

4-6 months: Start the preparation 4-6 months before the exam date

60 days: Make sure you have read every topic by the time you have 2 months on hand. It may not be important that you remember every formula at this point of time.

30 days: By this time you should be in a position of using every formula as and when required. The key to doing so, as mentioned in the starting, is practicing. It is like setting your favorite song on repeat till you memorize it completely.

15 days: A fortnight to go to the critical exam date and all you need to focus now are the practice tests. Attempt one practice a day, and analyze how you perform in each one of them. The most important thing to do is to re-attempt the practice test questions that you didn’t attempt well.

7 days: This marks the deadline for learning new topics. When you have just a week left, focus only on finalizing what strategy suits you best for good scores. Keep on with the practice tests.

1 day: Take rest and have a good sleep as there is nothing drastic that this day can do. Chill. Relax and rock it the next day – the day.