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Prepare for the FRM® Exam Part I

Studying for Part I is Crucial, and It Takes a Substantial Effort.

There are no shortcuts. The one thing standing between you and success on the FRM Exam Part I is hard work. GARP recommends you aim to spend at least 200 hours preparing for Part I. Schweser’s Prepare, Practice, Perform® methodology gives you the structure you need to get the most of the time you spend preparing.

Previous Knowledge

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.

Part I Curriculum

  • Quantitative Analysis - 20%
  • Foundations of Risk Management - 20%
  • Financial Markets and Products - 30%
  • Valuation and Risk Models - 30%

Ready to Prepare for the Part I FRM® Exam?


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FRM Part I Exam Details

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.

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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:

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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.

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Requirements to Earn the FRM®

  • Register to Take the Exam
  • Pass FRM Exam Part I
  • Register for Part II
  • Pass FRM Exam Part II
  • 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 to pass your FRM Exam with Part I Study Packages.

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