Finance, FRM

How difficult is the FRM Exam?

How difficult is the FRM Exams?

We all are acquainted with the FRM exams and the levels needed to be cleared so as to become Certified FRM. The question rather we should be focusing on is “How difficult is the FRM exam by GARP?”

There is a popular belief among candidates that FRM exams are hard to crack because of quants involved. However, the level of difficulty depends upon many circumstances and the instances are distinct for each candidate who is preparing for the exam. The overall curriculum is not extensive and the total readings withing the syllabus are limited. Since FRM is based on the application of the risk management concepts, the curriculum includes case studies that add a reference to the real-world business scenarios. So, most of the topics are very interesting, including the topics in the quants section as well.

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Below listed are the challenging topics for both the levels that should be emphasized more:

FRM Level 1 – Difficult Concepts

  • Value at Risk
  • Time Series Analysis
  • Simulation and Correlation Copula

FRM Level 2 – Difficult Concepts

  • Rating Methodology
  • Term Structure of Interest Rates
  • Structured Credit Risk

The difficulty level of the exam is very subjective and it is unique for each and every candidate, depending upon the quality of their preparation. Having said that, candidates who possess an educational degree in finance or professionals with experience in the risk domain may find these concepts relatively easy to grasp. Strong disciplinary routine along with proper dedication, time management, practice, and revision will definitely help in clearing the FRM exams! Once you have created a study plan- make sure you stick to it.  Be consistent with your studies, complete the set target, revise, and practice enough questions.

There are many FRM prep providers who provide demo lectures, online lectures on YouTube which will provide a brief summary regarding the FRM course. Based on this observation, a candidate may decide if he/she should pursue FRM certification, rather than getting terrified based on other opinions.

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At least 250–300 hours of preparation are required for each part of the FRM exams.

If it can be thought, it can be done i.e. If a candidate thinks he/she can crack the exam, then it can be done.


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