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Frequently Asked Questions

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  1. How do I prepare for the FRM® Exam?
    According to the GARP® website, "GARP does not offer FRM preparation courses as the Association considers this to be a conflict of interest." They even state that "Alone, the FRM Handbook is not sufficient to prepare a candidate to pass the examination." Clearly, it would be to your advantage to use an exam prep provider...and we believe Kaplan Schweser is your best solution.
     
  2. What products do you offer for FRM® Exam preparation?
    Kaplan Schweser offers a selection of products designed to fully prepare the candidate for each part of the 2013 FRM exam, including:
    • 8-Week Online Class
    • SchweserNotes™
    • SchweserPro™ QBank
    • Schweser Practice Exams
    • Schweser‘s QuickSheet
    • InstructorLink™
    • Final Review Pack which includes:
      • Final Review Workshop (6-hour online review session)
      • Final Review Guidebook
      • Final Review Exam
    Combinations of these products are also offered in comprehensive Study Solutions. Please view our FRM Product Brochure for more detailed information on our products.
     
  3. Why can‘t I reuse last year‘s study materials?
    Each season, GARP® revises the FRM curriculum to ensure that it is timely and relevant. In turn, Kaplan Schweser‘s expert faculty updates our study materials to incorporate these changes while structuring them to make certain candidates are utilizing the most current prep materials for the FRM exam.

    Due to revisions and additions to the Applied Instructional Materials Statements (AIMS) and changes in the required reading list, relying exclusively on previous study materials for the current exam year is not recommended. We suggest that candidates use past materials only as an interim study aid until you purchase/receive the current year materials.

  4. Can I buy just the updates?
    No; we rewrite all of our materials each year as a whole to reflect any curriculum changes, which can be extensive.
     
  5. What time will the Instructor-led Office Hours be shown in my country?
    You can convert Eastern Time (United States) to your local time by following the directions below.
  6. Can I purchase the Final Review Pack separately?
    Yes, but the Final Review Pack is specifically designed for late-season review and is not designed to be a substitute for a comprehensive study package. The Final Review Workshop is not available until November 2013. Please contact us for more information.
     
  7. What information does the Final Review Guidebook contain?
    The Final Review Guidebook contains the critical concepts found within the FRM® readings and has been designed for use as a quick review as well as a reference source. It is a compendium of the Applied Instructional Materials Statements (AIMS) and will help in the retention of the FRM curriculum when it is used in conjunction with the SchweserNotes™. This late-season product is excellent for those candidates trying to absorb as much material as possible prior to the examination.
     
  8. Can I return the products?
    Please review our return policies.
     
  9. Will the 8-Week Online Class sessions be archived?
    All of the online classes are recorded and archived so candidates can view them at anytime given that they have access to an Internet connection. Previous presentations are not available for download, but you can watch them streaming from our site under "8-Week Online Class" by clicking on the archived files. The archives for a given week are usually uploaded a couple of days after the live presentation.
     
  10. How do I access the Instructor-led Office Hours?
    Office hours can be accessed via your Kaplan Schweser online account. The instructor-led sessions will begin in September, so please check the FRM calendar on our website for dates and times.
     
  11. How do I access the SchweserPro™ QBank?
    To access the online question bank, enter your username and password on Kaplan Schweser‘s main webpage or on our FRM webpage. Once you are logged in, click "Online Access." From there you can browse the curriculum as well as the questions in our database. You can also create tests and quizzes with varying lengths from any part of the curriculum.
     
  12. How should I utilize the Kaplan Schweser material?
    Start by creating a study plan with the Schweser Study Planner and adjust as necessary to ensure you are always on track for exam day. Then begin reading your SchweserNotes™ in order. If at any point you need additional insight, consult the appropriate FRM assigned readings.

    You should also start by creating a study plan with the Schweser Study Planner and adjust as necessary to ensure you‘re always on track for exam day.

  13. Where do I go if I have questions?
    We offer Instructor-led Office Hours and Faculty Email Access with some of our products. Office Hour sessions will begin in September and will be held once a week until the exam. Purchasers of the 8-Week Online Class will have email access to our FRM instructor in addition to the Office Hour sessions.
     
  14. How do I report an error in the Kaplan Schweser materials?
    Once you are logged in under the FRM section on our website, click "Updates/Errata" and then click on the Errata Reporting link.
     
  15. I have purchased the 8-Week Online Class. How do I send the professor an email during non-class time?
    To email the instructor, log on to your online access account on www.schweser.com. Once logged in you should see a link under "Online Instruction" called "Faculty Email Access." Any comments sent via this link will be sent directly to the professor.
     
  1. What is the FRM Certification Program all about?
    GARP® provides its FRM® Certification Program for the testing, analysis and evaluation of the skills, qualifications, education and competencies of those in the field of financial risk management. The FRM certificate is globally recognized as the benchmark for financial risk professionals and has been adopted by companies to ensure their risk management employees are well versed in the latest financial risk concepts. Click here for more information about the FRM Certification Program.
     
  2. What are the FRM program requirements?
    You must receive a passing score on each part of the FRM exam, hold an active membership with GARP®, and have a minimum of two years' experience in the financial risk management (or other related) field.
     
  3. What is the format of the Part I FRM Exam?
    The Part I FRM Exam is the first of two exams in the Expanded FRM Program. The Part I Exam, given in booklet form, is a 4-hour exam containing 100 multiple-choice questions.
     
    Topics Covered on the Part I FRM® Exam
    Weight
    Foundations of Risk Management
    20%
    Quantitative Analysis
    20%
    Financial Markets and Products
    30%
    Valuation and Risk Models
    30%
     
  4. What is the format of the Part II FRM Exam?
    The Part II FRM Exam is the second exam in the Expanded FRM Program. The Part II Exam, given in booklet form, is a 4-hour exam containing 80 multiple-choice questions.
     
    Topics Covered on the Part II FRM® Exam
    Weight
    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%
     
  5. How do I prepare for the Part I and Part II FRM® Exam?
    Our Study Packages include products and materials designed to prepare you for the November 2013 FRM Exam, regardless of the format you choose. You will receive a Part I or Part II Study Outline that explains the topics you should focus on to successfully prepare for exam day.
     
  6. Do I need to read the GARP® recommended readings, or can I just use your SchweserNotes™?
    Our SchweserNotes™ are written to be an essential complement to GARP‘s recommended readings for the 2013 FRM® Exams. The decision as to whether or not to read the recommended readings is up to you, and often depends on your own academic background, strengths, and weaknesses.
     
  7. How does the FRM curriculum compare to the CFA® curriculum?
    The FRM certification complements the CFA charter. The FRM curriculum provides more detail on areas of financial and non-financial risk while the CFA curriculum provides a broad view of financial analysis in general. The FRM Part I material will overlap with part of the CFA curriculum, mainly in the areas of quantitative analysis, portfolio theory, derivatives, and fixed income securities. The FRM and CFA overlap at Part II is minimal; however, some concepts that are mentioned briefly in the CFA curriculum, such as value at risk, credit risk, risk budgeting, and hedge funds, are expanded upon in this section of the FRM curriculum. Exclusive to the FRM exams are readings on operational and integrated risk management, Basel II, current issues in financial markets, and case studies in risk management. The FRM exams tend to have more of a quantitative focus than the CFA exams.
     
  8. How many hours will I need to study to prepare for Part I and Part II of the FRM Exams?
    GARP® recommends approximately 150 to 200 hours of preparation for each part of the exam, for a total of 300 to 400 hours of preparation.
     
  9. How many people are pursuing the FRM designation?
    It‘s growing - and quickly. Since the FRM Certification program began in 1997, more than 26,000 individuals around the world have successfully completed the program. In 2009 alone, 23,000 people registered to take the FRM exam; this is an increase of 68% in candidate registrations. For more information, please visit www.garp.org.
     
  10. How do I register for the FRM exam?
    Go to https://www.garp.org/frm/register/ and click on "Registration" under Register in the left navigation. You can then start the registration process.
     
  11. What are the fees involved for the Part I FRM Exam in November 2013?
     
    Registration Deadlines New Candidate Returning and Enrolled Candidates
    Early Registration
    Begins: May 1, 2013
    Ends: Jul. 31, 2013
    		$650* $350*
    Standard Registration
    Begins: Aug. 1, 2013
    Ends: Aug. 31, 2013
    		$775* $475*
    Late Registration
    Begins: Sep. 1, 2013
    Ends: Oct. 15, 2013
    		$950* $650*
     

    * All prices are listed in US dollars and include the $300 GARP enrollment fee required of all candidates. Membership is good for one full year from the effective date of the registration. Returning candidates from the 2009 FRM Exam Full need to pay the differential in the enrollment fee of $150 in addition to the fees listed above.

  12. What are the fees involved for the Part II FRM Exam in November 2013?

     
    Registration Deadlines
    Enrolled Candidates
    Early Registration
    Begins: May 1, 2013
    Ends: Jul. 31, 2013
    		$350*
    Standard Registration
    Begins: Aug. 1, 2013
    Ends: Aug. 31, 2013
    		$475*
    Late Registration
    Begins: Sep. 1, 2013
    Ends: Oct. 15, 2013
    		$650*
     

    * All prices are listed in US Dollars. Membership is good for one full year from the effective date of the registration.

  13. Do I have to have my two years of experience completed before I am eligible to take the FRM exam?
    No; if you would like, you may take the exam and then complete your two years of experience. Once you complete the requirement, simply contact GARP® and your certificate will be issued to you. View a list of qualifying job titles .
     
  14. Does an internship position count towards my two years of experience?
    No; unfortunately, the program requires two years of professional experience, and an internship position does not meet these requirements.
     
  15. What kind of calculator should I purchase?
    You may use any of the following calculators on the exam: Texas Instruments BA II Plus (including the BA II Plus Professional), Hewlett Packard 12C (including the HP 12C Platinum), Hewlett Packard 10bII, or Hewlett Packard 20b. Kaplan Schweser highly recommends the Texas Instruments BA II Plus (either the regular model or the professional one). For more information, visit the following websites: www.hp.com or www.ti.com.
     
  16. How can I contact GARP®?

    Email: memberservices@garp.com or membership@garp.com

    Website: www.garp.org

    US Office:
    GARP
    111 Town Square Place
    Suite 1215
    Jersey City, NJ 07310

    Phone: (201) 719-7210
    Fax: (201) 222-5022

    UK Office:
    GARP
    1st Floor
    Minster House
    42 Mincing Lane
    London EC3R 7AE

    Fax: 44-20-7626-9300

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