FRM® Exam Part I: Learn fundamental tools and techniques used in risk management and the theories that underlie their use.

Foundations of Risk Management	20%
Quantitative Analysis	20%
Financial Markets and Products	30%
Valuation and Risk Models	30%

FRM® Exam Part II: Apply the tools and techniques covered in the first part and dive deeper in investment management and current market issues.

Market Risk Measurement and Management	25%
Credit Risk Measurement and Management	25%
Operational and Integrated Risk Management	25%
Risk Management and Investments Management	15%
Current Issues in Financial Markets	10%

FRM® Exam Part I 

FRM® Exam Part II

Passing scores are determined by the FRM®  Committee and exam results are sent by email around six weeks after the exam. Candidates will receive quartile results helping them to analyze their performance In terms of strategy it is important to know that: • There are no penalties for wrong answers. • Candidate can take the first and seconde part the same day, however the second part will not be graded unless they first pass the first part.

In order to pass the FRM® Exam you will need to know important formulas and calculations and therefore how to use your calculator. Only the following types of business calculators are authorized by the GARP for use during the exam:

Texas Instruments BA II Plus including the BA II Plus Professional                                

Hewlett Packard 12C including the HP 12C Platinum