About the FRM® Exam
Content, format and everything you need to know about the FRM® exam.
What experience is Needed To Get The FRM® Certification
There is no prerequisite to register for the exams.
However to obtain the FRM® certification, one must pass both parts successfully and submit two years of full-time relevant financial risk management work experience.
Exam Format
The FRM® Exam is a computer-based (CBT) multiple-choice exam given in two parts.
It is offered exclusively in English, three times a year in May, July and November at approximately 90 exam sites around the world.
Each part requires around 250 of preparation. We advise to take each part individually in a different exam window and to start with Part I. Indeed, candidates that take part II prior to receiving a passing score on exam part I will not have their exam part II graded if they fail exam part I.
FRM® Exam Part I
FRM® Exam Part II
Content of the exam
Part 1
- 20% - Foundations of Risk Management
- 20% - Quantitative Analysis
- 30% - Financial Markets and Products
- 30% - Valuation and Risk Models
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Part 2
- 20% - Market Risk Measurement and Management
- 20% - Credit Risk Measurement and Management
- 20% - Operational Risk & Resilience Management
- 15% - Liquidity and Treasury
Risk Measurement and
Management
- 15% - Risk Management and Investments Management
- 10% - Current Issues in Financial Markets
Scoring & Results
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.
To get more information about the exam and the official passing rates you can check GARP Website here