FRM

Financial Risk Manager

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Anyone can register to take the exam. FRM certification is awarded after a candidate has passed two rigorous multiple choice exams (FRM Exam Part I and Part II) and demonstrated two years of relevant work experience. Candidates must take the FRM Exam Part I before taking Part II. Certified FRMs are strongly encouraged to earn 40 hours of Continuing Professional Development (CPD) every two years to maintain the latest best practices in risk management.

Enrolling in the FRM Program is your first step toward earning this certification. At Evanson we have over 8 years of collective professional experience in training candidates towards these exams. We provide a suite of courses with learning materials to suit any budget and learning style.

If you need a final push towards the exam

Join question based Revision Courses, or a Mock Exam Day

We are so confident that our approach will work that we offer Pass Assurance at all Levels – attend a Classroom course and you can attend the course again for free should you fail.

Evanson training Does not only offer FRM training sessions but actually prepares you for exams that are assessed and awarded by GARP.

The FRM Exam Part I and Part II

The FRM Exam Part I and Part II are pencil and paper multiple choice exams. They are offered solely in English, twice a year in May and November, at approximately 90 exam sites around the world.

FRM Exam Part I

A 100 question multiple choice exam, the FRM Exam Part I focuses on the tools used to assess financial risk: quantitative analysis, fundamental risk management concepts, financial markets and products, and valuation and risk models. Part I is always offered in the morning and must be completed in four hours or less.

FRM Exam Part II

The FRM Exam Part II is an 80 question multiple choice exam, emphasizing the application of the tools acquired in Part I: market, credit, operational and integrated risk management, investment management as well as current market issues. Part II is always offered in the afternoon and must be completed in four hours or less.

Please note that if a candidate elects to take Part II on the same day as Part I, their Part II Exam will not be marked by GARP unless they first pass Part I.

Scoring and Results

There are no penalties for wrong answers. Passing scores are determined by the FRM Committee. Exam results are pass/fail and are emailed approximately six weeks after the exam. Candidates will receive quartile results comparing their performance to other candidates.

Exams

What are the requirements for FRM Certification?

1. Pass the FRM Exam Part I

2. Pass the FRM Exam Part II within 4 years

3. Demonstrate 2 years of related work experience

4. A candidate demonstrates work experience by submitting 4-5 sentences describing their professional role in the management of financial risk. The application to submit your work experience can be completed online. The work experience submitted cannot be more than 10 years prior to having passed the FRM Exam Part II. Experience completed for school will not be considered, including internships, part-time jobs, or student teaching. A candidate has 5 years to submit their work experience. After 5 years, the candidate will have to re-enroll in the program and pay the required fees again.

A candidate cannot use the FRM designation after their name in any manner until they have been certified.

How much time do I have to complete the FRM Certification process?

Once a candidate passes the FRM Exam Part I, they must then pass the FRM Exam Part II within 4 years. Candidates have 5 years from the date they pass the FRM Exam Part II to have their work experience verified.

What’s on the FRM Exam Part I?

1. The FRM Exam Part I focuses on the tools used to assess financial risk. They include:

2. Foundations of risk management concepts

3. Quantitative analysis

4. Financial markets and products

5. Valuation and risk models

What’s on the FRM Exam Part II?

The FRM Exam Part II focuses on the application of the tools acquired in the FRM Exam Part I. They include:

1. Market risk measurement and management

2. Credit risk measurement and management

3. Operational and integrated risk management

4. Risk management and investment management

5. Current issues in financial markets

What kind of Calculators are allowed to be used on the FRM Exam?

Only the following types of business calculators are authorized for use on the FRM Exam. There will be no exceptions to this policy. Should a candidate use a non-authorized calculator at any time during the exam, a violation report will be written and your answer sheets will not be graded. GARP strictly enforces all policies with regard to the calculator usage during the FRM Exam and candidates are required to abide by GARP’s policy.

Recommended: Texas Instruments BA II Plus (both versions), including the BA II Plus Professional

Process

What qualifications do I need to register for the FRM Program?

There is no educational or professional prerequisites needed to register.

How do I enroll in the FRM Program?

Candidates can register online by clicking here. (Registration)

When is the deadline to pay for the FRM Exam?

In order for your exam registration to be considered complete, payment must have been received by GARP by midnight, EDT, on the closing date of each registration period. For the May 2015 FRM Exam, these dates are: January 31, 2015 (Early); February 28, 2015 (Standard); or April 15, 2015 (Late), respectively.

Does GARP offer scholarships?

Yes. GARP Scholarships cover the cost of the Exam Registration Fee for the FRM Exam Part I only. Scholarships are not available for the FRM Exam Part II. Scholarships are awarded based on merit and the final decision is at the sole discretion of GARP.

Who is eligible for a GARP scholarship?

GARP offers scholarships to full-time graduate-level students and university faculty members taking the FRM Exam Part I only.

The scholarship program is not available for the FRM Exam Part II.

Faculty members are deemed eligible if they can demonstrate full-time employment

When are scholarship applications due?

Scholarship applications must be received by GARP by February 28, 2015 in order to be eligible for consideration for the May 2015 Exam.

download194Download a scholarship application here

How many hours are required to prepare for the FRM Exam?

Candidates’ preparation times will vary based on their professional experience, academic background, and familiarity with the concepts tested on the curriculum.

On average, individuals devoted approximately 240 hours to Exam preparation according to a survey conducted in May 2014 FRM Exam Part I candidates. Individual figures, however, varied from less than 100 hours (10%) to more than 400 hours (14%).

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