Finance, FRM

Financial Risk Management (FRM) Exam Full Details

FRM Exam Details

If you’re considering the FRM course, you definitely have questions. We are here to answer every question and guide you through the successful completion of the course. You can read through the article to get Full details regarding the FRM exam and get a fair idea about the start to end process of earning this credential and what to expect from the exam.

What is FRM Exam??

The Global Association of Risk Professionals (GARP) established the FRM designation to identify and recognize risk professionals who are qualified to make informed decisions based on current, globally accepted industry standards. The FRM designation indicates you have a strong understanding of the underlying risk management concepts in today’s ever-changing financial markets which has been validated by international professional standards.

A financial risk manager identifies and analyzes threats to the assets, earning capacity, or success of a business. Many specialize in areas like credit or market risk. They analyze data, financial markets, and world events to forecast changes and trends that can impact a business and suggest or implement strategies for protection.

The benefit of FRM Certification

  • Develop knowledge and expertise
  • Global Certification
  • Stand out in Crowd in Job Market
  • Grow you Network

Get FRM Exam Full Details below

FRM Exam Structure

The FRM Exam Part I and Part II are pencil-and-paper, multiple-choice exams. They are offered solely in English, twice a year in May and November, at over 100 exam sites around the world.

Part I –

  • 100 question multiple-choice exam, the FRM Exam Part I focuses on the tools used to assess financial risk:
  • Paper Pencil Exam
  • No Negative marking
  • Part I is always offered in the morning and must be completed in four hours or less.
Topics Weightage
Foundation of Risk Management 20%
Quantitative Analysis 20%
Financial Markets and Products 30%
Valuation and Risk Models 30%


Part II

  • 80 question multiple-choice exam, the FRM Exam Part II emphasizing the application of the tools acquired in Part I
  • Paper Pencil Exam
  • No Negative marking
  • Part II is always offered in the afternoon and must be completed in four hours or less.
Topics Weightage
Market Risk Management 20%
Credit Market Risk Management 20%
Operational Risk Management 20%
Risk Management & Investment Management 15%
Current Issues in Financial Market 10%
Liquidity and Treasury Risk Measurement and Management 15%

Examination Dates:

  • May Month – 3rd Saturday
  • November Month – 3rd Saturday

Final deadline exam registrations—May:

  • Early – Jan 31
  • Standard – February 29
  • Late – April 15

Final deadline exam registrations—Nov:

  • Early – Jul 31
  • Standard – August 30
  • Late – October 15

FRM Program Fees

Enrollment for the FRM exam requires a one-time enrollment fee of $400 (USD), due when you register for your first level I FRM exam, as well as individual exam registration fees.

  • Early – $425
  • Standard – $550
  • Late – $725

Requirements to Earn the FRM

  1. Register to Take the Exam
  2. Pass FRM Exam Part I
  3. Register for Part II
  4. Pass FRM Exam Part II
  5. Demonstrate two years of relevant work experience

Please note that if a candidate elects to take Part II on the same day as Part I, their Part II Exam will not be marked by GARP unless they first pass Part I.

To earn your FRM designation, you must:

  • Pass the FRM Exam, which consists of two parts. Part I has 100 multiple-choice questions, and Part II consists of 80 questions. Both parts cover topics such as the foundations of risk management, quantitative analysis, financial markets and products, valuation and risk models, current issues in financial markets, measuring financial risk, and more.
  • Work full-time in a financial risk role for at least two years.
  • Demonstrate your experience to GARP by describing your professional role in financial risk management and submitting it to GARP within five years of passing Part II of the exam.

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