hi there big gammer its never easy to ride two boats simultaneously! As far similarities of cfa level one and frm level one is concerned then what can i say is that i am sitting in frm this november and have done cfa level two the depth of readings in frm goes beyound the difficulty level in cfa level one for instance u would see qunatitaive method in frm level one paper it covers all the material that is included in both cfa level one and two similarly finacial derivatives study material in level one is very basic gonna help u a little special if ur using scheweser notes who haev poor underlying discussions for advance derivatives readings i strongly recommand u to go for frm after passing cfa level two becaz from my experince as this is my fourth professional degree and certification the difficulty level of frm level one would be more than cfa level one and u gonna get confuse one other important thing there is a slight diffrent in style of calculation in between cfa and frm frm almost always use continious method for discounting where is cfa usually use the other one which can be little confusing>

dont go for frm its seems good on the papers of book all the stuff u an only learn from practicle experience course gonna never help u allot .