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FRM Exam

The Financial Risk Manager is an international professional certification offered by the Global Association of Risk Professionals. The FRM designation is the most valued and respected certification for risk management professionals.

The FRM Exams are focused on testing the progressive and cumulative knowledge of individuals in the area of risk management and preparing them to be a part of highly expertized global network of risk management professionals.

FRM Exam Requirements

To take the FRM exam there are no professional or educational prerequisites. If you are taking both the parts of the FRM exam on the same day, then it is mandatory to pass the FRM part 1 exam to get the FRM part 2 graded. The candidates must complete the FRM Program to gain FRM certification.

Following table shows the deadlines for November 2014 FRM Exam. All deadlines up to 23.59 EDT (New York time)

July 31, 2014 Early Registration
August 31, 2014 Standard Registration
Special (RAD)* Requests
Special (ADA)** Requests
GARP Scholarship Applications
October 15, 2014 Late Registration
Exam Site Change
Deferral to May 16, 2015 Exam

FRM Exam Format

FRM Exam is a paper-based exam consisting of multiple choice questions with 4 answer choices. It is conducted only in English language across 90 testing locations worldwide. The FRM part 1 and part 2 exams are offered on third Saturday in the months of May and November.

The duration of the FRM exam is 4 hours each. There are 100 multiple choice questions in FRM part 1 exam and 80 multiple choice questions in part 2 exam. FRM part 1 exam is conducted in the morning session and FRM part 2 exam in afternoon session.

There is no negative marking for wrong answers. The FRM part 2 exam is not graded until the candidate qualifies FRM part 1 exam. The FRM Committee is responsible for determining the passing score.

Candidates are allowed to make use of the GARP approved calculators. Only certain models of Hewlett Packard (10B II, 20B, and HP-12C) and Texas Instruments (BA II Plus) calculators are permissible. If there is a violation to this rule, then the answer sheet will not be evaluated and graded.

FRM Part 1 Exam- Topic-wise weightage

There are 100 MCQs to test the candidates’ knowledge in the areas of risk management, financial markets and products, quantitative analysis and essential risk modelling. The table below gives a topic-wise weightage of the topic areas covered in FRM part 1 exam.

Topic Weight

Foundations of Risk Management


Quantitative Analysis


Financial markets and Products


Valuation and Risk models


FRM Part 2 Exam- Topic-wise weightage

FRM part 2 exam comprises of 80 multiple-choice questions in the areas of market risk, credit risk, operational risk, integrated risk management and current financial market issues. The table below gives a topic-wise weightage of the topic areas covered in FRM part 2 exam.

Topic Weight

Market Risk


Credit Risk


Operational Risk


Risk Management and Investment Management


Current Issues in Financial markets


Global Association of Risk Professionals, Inc. (GARP®) does not endorse, promote, review or warrant the accuracy of the products or services offered by EduPristine for FRM® related information, nor does it endorse any pass rates claimed by the provider. Further, GARP® is not responsible for any fees or costs paid by the user to EduPristine nor is GARP® responsible for any fees or costs of any person or entity providing any services to EduPristine Study Program. FRM®, GARP® and Global Association of Risk Professionals®, are trademarks owned by the Global Association of Risk Professionals, Inc

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