What is the FRM (GARP) exam?

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To reach any professional designation, you have to know how you can get there or how you can plan to get it there is the important step. You cannot eat a sandwich before you buy bread; in the same way you cannot become a certified Financial Risk Manager (FRM) before following a set path. The first milestone you need to overcome is knowing all about FRM exams and its certification. This is a very important exam and good preparation is a required to pass. Lots of people appear for the exam, but not too many pass.


FRM Introduction


The financial Risk manager designation is actually given by the Global Association of the Risk Professionals (GARP) and is highly and globally respected as well as the accepted certification to become a Financial Risk Management. This exam can enhance your salary and give you better work opportunities in banks and in portfolio management.


Few Things to do for FRM Registration

There’re some things that one should keep in mind prior to registering for FRM exams.

  • Ensure your name on passport or driving license is been spelled in a same way while you register. This is an only acceptable name; or you would not get allowed to take exams. Name must be spelled in the phonetic letters and not in other script.
  • Get a valid passport or driver’s license. No other ID proof will get accepted regardless of the value. Only currently valid passport and driving license issued the country is accepted.
  • Evaluate need for the Americans with Disabilities, and request other exam date for the religious reasons.
  • Download FRM Program Guide
  • Go through GARP’s exam policies
  • Know where you wish to take the exams.

Eligibility: There’s no professional and educational qualification needed to sit for FRM examinations.

Exam Registration for FRM: To register for FRM exams first you have to log on at www.garp.org. There is a one-time enrolment charge that you need to pay of over $300 USD. You may pay FRM registration fee at any of 3 registration periods. It’s good to pay fees in the early phase; this way you will save money and get faster access to study material.


Study Material

GARP provides a free FRM exam study guides in PDF format, but to buy official books you need to pay the cost and shipping charges.  There are lots of options in the market which are available in this and you can select the best possible options.



There are 2 sets of the exams that candidate needs to clear. Afterward, they need to complete two years of related of work experience in the area of the financial risk management and other related field that includes, and not limited to: portfolio management, trading, industry research, faculty academic, auditing, economics, risk technology or risk consulting, to get FRM certification.


Level 1: 

Level 1 conducted in the morning session comprising of 100multiple choice questions being answered in a maximum period of 4hours.

Syllabus for the FRM Level 1: 

This contains four topics, namely:

  • Quantitative Analysis (20%)
  • Foundation of the Risk Management (20%)
  • Valuations & Risk models (30%)
  • Financial markets & products (30%)


Level 2: 

You may take the FRM Part 2 on the same day as it is conducted in the afternoon. The exam consists of 80 multiple questions to get completed in a maximum of 4 hours. It’s advisable to take the exams separately unless you are in a rush, as the study materials can be too much for many people to go for both exams at the same time.

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