FRM program is now conducted in a two-level examination format.
The exam is administered manually in paper and pencil format. The FRM Exam can be scheduled in various cities around the world. A complete list of the cities is located under the Exam Sites link on the GARP website.
FRM Part 1 Exam Information
Part I covers core areas of risk management such as quantitative analysis, financial markets and products, and essential risk modeling.
The FRM Exam Part 1 is given in booklet form. Candidates are given 4 hours to complete the 100 multiple-choice questions.
FRM Part 1 Exam Outline
|Foundations of Risk Management||20%|
|Financial Markets and Products||30%|
|Valuation and Risk Models||30%|
FRM Part 2 Exam Information
Part 2 covers specific topics on the practical implementation and execution of approaches to measuring and managing market, credit, operational and firm-wide risks, and also includes a new section covering current issues in financial markets.
FRM Part 2 Exam Outline
|Market Risk Measurement and Management||25%|
|Credit Risk Measurement and Management||25%|
|Operational and Integrated Risk Management||25%|
|Risk Management and Investment Management||15%|
|Current Issues in Financial Markets||10%|