If you’re planning to take the FMI Financial Modelling Certification exams coming up on 2nd May, you should start practicing now! It’s one of the most hands-on exams you’re ever likely to see; for Level 1 you need to build a full set of financial statements within the four hour time-frame and it’s certainly not for the faint-hearted. A lot of people fail (about 60% of them actually) and mostly because they simply run out of time. The best way to prepare for this gruelling exam is practice, practice and more practice! Timed practice session will help build stamina and give you the best possible chance of gaining this rigorous qualification.
How should I prepare?
There are loads of exercises freely available from FMI to help you prepare but if you and your team need some help in getting ready for Level 1 in a more structured environment, you might consider running the Level 1 AFM Exam Preparation course as an in-house workshop at your organisation. When you’re ready to sit the exam, it runs twice a year in 30 locations around the world but if you can’t make it to a testing centre, consider holding a private exam at your company, with or without a preparation session.
Your options for getting you and your team certified are:
- Register for the public exam on 2nd May or Oct 2020, and prepare on your own with the example case studies provided
- Organise an in-house training course with an Approved Training Provider (such as Plum Solutions) and then sit the public exam
- Prepare on your own and then sit a private exam with your team at your organisation
- Organise an in-house training course and then sit a private exam at your organisation
Which books and courses will help me pass the exam?
Two of Danielle Stein Fairhurst’s books, “Financial Modeling in Excel for Dummies” and “Using Excel for Business and Financial Modelling” have been recommended by FMI as exam preparation resources, but please note that these have not been written specifically to help you pass the exam. Similarly, the online courses offered by Plum Solutions are not specifically exam preparation training. They will help you on your journey to becoming a great financial modeller but note that there is a lot of content covered in the books and online courses that are not required knowledge for the exam.
If you’d like to jump on a short call to discuss your options, you can book some time to chat with FMI approved training instructor, Danielle Stein Fairhurst. She’ll help you figure out if this qualification is right for you or work out the best approach to help you or your team get the qualification.
FMI Advanced Financial Modeller
Exam Prep Session (free meetup)
Tues 7th April at 6pm, Sydney CBD
Join us for this free two-hour meetup session which will give you an overview of what to expect on the day and some tips and tricks as to how you can prepare on your own to get your best chance of gaining this rigorous qualification!
FMI Advanced Financial Modeller Exam Prep Session (training workshop)
Mon 14th Sept, Full day, Sydney CBD
Covers the practical knowledge and skill of building the financial statements to help with exam preparation. Learn to build a 3-way model with a focus on structure, layout, speed and accuracy.