Kaplan University School of Professional and Continuing Education Kaplan University School of Professional and Continuing Education

FRM® FAQs

FRM® FAQs

Frequently Asked Questions

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 FRM Exam, including:

  • Live Online Weekly Class
  • SchweserNotes™
  • Practice Exams
  • SchweserPro™ QBank
  • Schweser's QuickSheet
  • Ask Your Instructor
  • Instructor-Led Office Hours
  • Candidate Resource Library
  • Schweser Study Calendar
  • Online Review Workshop Package which includes:
    • Online Review Workshop (8-hour online review session)
    • Schweser's Secret Sauce®
    • Schweser Mock Exam

Combinations of these products are offered in efficient study packages.

3. In which currency are the product prices listed?
All prices on the website are listed in US dollars.

4. 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 they purchase/receive the current year materials.

5. 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.

6. 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.

7. Can I purchase the Online Review Workshop Package separately?
Yes, but the Online Review Workshop Package is specifically designed for late-season review and is not designed to be a substitute for a comprehensive study package. The Online Review Workshop is not available until May or November for that month's exam . Please contact us for more information.

8. What information does Schweser's Secret Sauce® contain?
Schweser's Secret Sauce® 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.

9. Can I return the products?
Please review our return policies.

10. Will the Live Online Weekly Class be archived?
All of the online classes are recorded and archived so you can view them at anytime given that you have access to an Internet connection. Previous presentations are not available for download, but you can watch them streaming from our site under "Live Online Weekly Class" by clicking on the archived files. The archives for a given week are usually uploaded a couple of days after the live presentation.

11. 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 March for May students and September for November students.

12. 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, select the “SchweserPro™ QBank” icon. From there, you can browse the curriculum and the questions in our database. You can also create tests and quizzes with varying lengths from any part of the curriculum.

13. How should I utilize the Kaplan Schweser material?
Start by creating a study plan with the Schweser Study Calendar 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.

14. Where do I go if I have questions?
We offer Instructor-Led Office Hours and Ask Your Instructor with some of our products. Office Hour sessions will begin in March for May students and September for November students and will be held once a week until the exam.

15. How do I report an error in the Kaplan Schweser materials?
To report potential errors, please log into your online account, and click on the "InstructorLink" icon on the dashboard. Once you are in the InstructorLink section, click on the "Report an Error" tab and complete the errata submission form. We respond to all errata submissions that identify actual errors, and we generally respond to other inquires as well.

16. I have purchased the Live Online Weekly Class. How do I send the instructor an email during non-class time?
To email the instructor, log in to your online access account on www.schweser.com. Once logged in, select the “InstructorLink” icon. Any comments sent via this link will be sent directly to the instructor.

1. What is the FRM® Program all about?
GARP® provides its FRM® 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 designation 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 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 FRM® Exams?
The expanded FRM Program includes two exams, Part I and Part II. Both are 4-hour exams given in booklet form. Part I contains 100 multiple-choice questions. Part II contains 80 multiple-choice questions.

4. How do I prepare for the Part I and Part II FRM® Exams?
Our study packages include products and materials designed to prepare you for the 2016 FRM Exams, 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.

5. 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 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.

6. How does the FRM® curriculum compare to the CFA® curriculum?
The FRM designation 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.

7. 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.

8. How many people are pursuing the FRM® designation?
It's growing quickly. Since the FRM designation Program began in 1997, more than 35,000 individuals around the world have successfully completed the program. In 2015 alone, over 32,000 people registered to take the FRM Exam. For more information, please visit www.garp.org.

9. How do I register for the FRM® Exam?
There is a registration section on the GARP website where you will register for the exam.

10. What are the fees involved for the FRM Program?
Enrollment fee details can be found in our Resource Center: FRM Exam Registration and Dates.

11. 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 »

12. 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.

13. 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.

14. How can I contact GARP®?
You can find contact information for GARP at www.garp.org or email memberservices@garp.com.

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Be Advised:  The UPS Service Guarantee does not apply when transportation networks are disrupted due to conditions beyond UPS's control, such as weather, natural disaster, UPS facility delays, etc. In addition, delivery of your order may be delayed during holidays that are observed by UPS.

1. What is VitalSource®?
VitalSource® is the preferred and most used e-textbook platform in higher education today, and the VitalSource Bookshelf® is the most advanced eBook software in the world. With VitalSource®, you get three-way access to your books: download, online, and mobile. Notes and highlights automatically stay in sync no matter where you take them (mobile requires online synch). In the library, at the computer lab, or even in a clinical setting, you can access your books when you need them—whether you brought your laptop or not.

2. What products are available as eBooks?
SchweserNotes™ (4-book set), Schweser’s Secret Sauce®, and Schweser’s QuickSheet are available as VitalSource® eBooks. The eBook provides access to your study materials in a digital format for use on a personal computer, Apple® mobile device (including iPad®, iPhone®, and iPod touch®), Android™ mobile device, and the Kindle Fire.

3. How many devices will I be able to use my eBooks on?
When you purchase the eBook versions of SchweserNotes™, Secret Sauce®, or QuickSheet, you will get access to view them online. You can also access and download them on up to two personal computers and up to two mobile devices.

4. What are the features of the VitalSource® eBooks?
Features of the SchweserNotes™ eBooks, Secret Sauce® eBook, and QuickSheet eBook include::

  • Electronic notes and highlighting: When you make notes and highlight sections, the changes are stored on the VitalSource® server, meaning they will be available if you access the eBook from another computer or device. Additionally, notes and highlights can be automatically synchronized between the web version of your products and your downloaded version (this requires that the computer containing your downloaded file be online). You can also share your notes and highlighted content.
  • Ability to export notes: You can copy/paste curriculum text and export your notes to a text file.
  • Advanced search function: You can search either a single volume of the SchweserNotes™ or every volume of the SchweserNotes™ for your exam part.
  • Flexible print options: You can print up to two pages at a time.

5. How do I access eBook products on my desktop or laptop computer?
When you purchase an eBook product, you will receive an email with installation instructions and a unique registration code to activate your eBook. With a compatible browser, you will be able to access your eBooks via the Internet at online.vitalsource.com or from a file you directly download.

Bookshelf Online Browser Support Policy

Download the VitalSource Bookshelf

6. How do I access eBook products on my mobile device?
The eBook version provides access to the curriculum in digital format for use on a personal computer, Apple® mobile device (including iPad®, iPhone®, and iPod touch®), Android mobile device, and the Kindle Fire, eliminating shipping and customs fees. When you purchase an eBook product, and it is assigned to your account, you will receive installation instructions and a unique registration code to activate your eBook.

7. How long will I have access to my eBook?
You will have access to your eBooks through VitalSource® for 1 year (online) from the date of your code redemption and 2 years access for downloaded material.

8. Are there any limitations to the VitalSource® mobile apps?
Yes, there are some limitations to the mobile apps in comparison to the desktop version. Please see the important notes regarding your eBooks on mobile devices.

  • The functionality of the mobile device app is limited in comparison to the personal computer version of the VitalSource Bookshelf® software. For example, notes and highlights are viewable, but users cannot make new notes from the app at this time. The app does, however, have search capabilities.
  • The eBooks are not optimized for mobile devices and, therefore, the text on mobile phones is very small. The app has zoom capability, but at the expense of easy navigation.
  • Use of the app will not affect your ability to download the eBook onto a personal computer. Students can download their SchweserNotes™ (4-book set), Secret Sauce®, or QuickSheet to a maximum of two compatible mobile devices, in addition to two personal computers. Additionally, candidates can access the online version of the eBook through online.vitalsource.com from any compatible Internet browser.
  • The app itself installs very quickly, but individual SchweserNotes™ books may take several minutes to download because of the large file sizes.
  • Users can only download their materials when WiFi access is available.

9. Who do I contact if I am having technical difficulties?
For immediate answers to common technical support issues, please review the VitalSource Video Tutorials for the answers to several common questions.

If you require further assistance, visit VitalSource Technical Support or contact the VitalSource Support line. They will connect you with a VitalSource Bookshelf® Expert who specializes in your exact question. The U.S.-based support center is open 24/7 to accommodate your schedule.

  • In the United States and Canada, please call 1.855.200.4146.
  • In the United Kingdom, please call 0808 2340361.
  • Submit a Bookshelf Customer Service Request or general Bookshelf Feedback using the VitalSource Support Web Form.
  • Live Chat is available in all areas by clicking the Need Help? Chat With Us pop-up at the bottom of the VitalSource Technical Support page.

10. What are the system requirements for eBooks?

  • PC: Latest Windows Version 6.9.2, Windows 7/8/8.1/10 (32/64 bit)
    • Microsoft.Net 4.5
    • DirectX 10 compatible graphics card
    • Internet Connection for registration and downloading of eBook
  • Mac:  Latest Mac Version 6.9, Mac OS X 10.8 or later
    • Internet Connection for registration and downloading of eBook
  • Apple: iPad, iPhone, or iPod touch using iOS 6.0 or greater
  • Android: Android 2.2–4.4
  • Kindle Fire: Kindle Fire 1, 2, HD, or HDX model

11. What if I am not seeing my full list of books I currently have access to in my online VitalSource Bookshelf®?
Try clicking Update Book List in the My Account section. If you continue to experience difficulties, please contact VitalSource Technical Support (refer to resources listed in Question 9).

Please Note: All VitalSource® eBook orders are final and non-refundable.

Product Availability

May 2017 Part I »

May 2017 Part II »

November 2017 Part I »

November 2017 Part II »