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.
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
- 20% - Foundations of Risk Management
- 20% - Quantitative Analysis
- 30% - Financial Markets and Products
- 30% - Valuation and Risk Models
- 25% - Market Risk Measurement and Management
- 25% - Credit Risk Measurement and Management
- 25% - Operational and Integrated Risk 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.