FRM Level I Exam Structure
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.
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.
Examination Dates:
- May Month – 3rd Saturday
- November Month – 3rd Saturday
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
FRM Level 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.
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| Topics | Weightage |
| Foundation of Risk Management | 20% |
| Quantitative Analysis | 20% |
| Financial Markets and Products | 30% |
| Valuation and Risk Models | 30% |
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Important Topics tested in the FRM Level I Exam
- Financial Products like Futures, Options, Swaps and its Valuation
- Basics of Risk Management
- Bond Valuation and Bond Hedging
- Risk Methods like Value At Risk (VaR) and Expected Shortfall (ES)
- Advance Statistics like Hypothesis testing, Linear Regression
- The Settlement, Clearing Operations in the Market
Related:
Financial Risk Management (FRM) Exam Full Details
