FRM® Exam Details


The Global Association of Risk Professionals™ (GARP®) established the FRM designation to identify and recognize risk professionals who are qualified to make informed decisions based on current, globally accepted industry standards.

The FRM designation is 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. Becoming an FRM boosts your credibility and respect from employers, peers, and clients and maximizes your personal and professional opportunities within the world of finance.


2021 Registration and FRM® Exam Dates

Examination Dates:

May Computer-Based Exam Dates:

  • May 8-21, 2021

July Computer-Based Exam Dates:

  • July 10-23, 2021

November Computer-Based Exam Dates:

  • November 13-26, 2021

Final deadline exam registrations—May & July Exams:

Early Registration:

  • Ends January 31, 2021

Standard Registration:

  • Ends March 31, 2021

Final deadline exam registrations—November Exam:

Early Registration:

  • Ends July 31, 2021

Standard Registration:

  • Ends September 30, 2021

Register for the FRM Exam »

2021 FRM® Exam Format

The 2021 FRM Exam Part I and Part II are computer-based, multiple-choice exams. Part I is offered solely in English, three times per year in May, July, and November, at over 100 exam sites around the world.

Note: The Part II exam in May 2021 will be given via pencil-and-paper. Beginning in December 2021, the Part II exam will be computer-based.

Find a Test Center Near You »

Body of Knowledge

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

Master these concepts with a comprehensive Part I study package:
View Part I Packages »

FRM® Progam Fees

The FRM Exam requires a program enrollment fee of USD 400, which is payable when a candidate initially registers for the FRM Exam Part I. The enrollment fee is not charged again unless the candidate has not passed the FRM Exam Part II within four years after passing the FRM Exam Part I.

  • Early - $550
  • Standard - $750

Our Part I study packages are built to replicate the exam, leaving no surprises on exam day. Begin your preparation today.
View Part I Packages »

Requirements to Earn the FRM®

  1. Register to Take the Exam
  2. Pass FRM Exam Part I
  3. Register for Part II
  4. Pass FRM Exam Part II
  5. Demonstrate two years of relevant work experience

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.

Give yourself the best chance the pass your FRM Exam with Part I Study Packages. View Part I Packages»

2021 Registration and FRM® Exam Dates

Examination Dates:

May Paper-Based Exam Date:

  • May 15, 2021

December Computer-Based Exam Dates:

  • December 4-10, 2021

Final deadline exam registrations—May Exam:

Early Registration:

  • Ends January 31, 2021

Standard Registration:

  • Ends March 31, 2021

Final deadline exam registrations—December Exam:

Early Registration:

  • Ends July 31, 2021

Standard Registration:

  • Ends September 30, 2021

Register for the FRM Exam »

2021 FRM® Exam Format

The 2021 FRM Exam Part I and Part II are computer-based, multiple-choice exams. Part II is offered solely in English, twice a year in May and December, at over 100 exam sites around the world.

Note: The Part II exam in May 2021 will be given via pencil-and-paper. Beginning in December 2021, the Part II exam will be computer-based.

Find a Test Center Near You »

Body of Knowledge

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 must be completed in four hours or less.

Master these concepts with a comprehensive Part II study package:
View Part II Packages »

FRM® Progam Fees

Individual exam registration fees::

  • Early - $550
  • Standard - $750

Our Part II study packages are built to replicate the exam, leaving no surprises on exam day. Begin your preparation today.
View Part II Packages »

Requirements to Earn the FRM®

  1. Register to Take the Exam
  2. Pass FRM Exam Part I
  3. Register for Part II
  4. Pass FRM Exam Part II
  5. Demonstrate two years of relevant work experience

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.

Give yourself the best chance the pass your FRM Exam with Part II Study Packages. View Part II Packages»

Effective preparation requires a study schedule that covers the entire FRM Program curriculum and practice that resembles exam content. Our Packages create a study plan adaptive to your schedule and include integrated study tools that provide practice of key concepts of the curriculum.