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 275 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
- Foundations of Risk Management - 20%
- Quantitative Analysis - 20%
- Financial Markets and Products - 30%
- Valuation and Risk Models - 30%
FRM Part I Exam Details
2022 Registration and FRM® Exam Dates
Examination Window:
May 2022 Exam:
- May 7–20, 2022
August 2022 Exam:
- August 6, 2022
November 2022 Exam:
- November 5–18, 2022
Key Registration Dates:
May 2022 Exam:
- Registration Opens: December 1, 2021
- Early Registration Deadline: January 31, 2022
- Registration Closes: March 31, 2022
August 2022 Exam:
- Registration Opens: April 1, 2022
Registration Closes: July 31, 2022
November 2022 Exam:
- Registration Opens: May 1, 2022
- Early Registration Deadline: July 31, 2022
- Registration Closes: September 30, 2022
2022 FRM® Exam Format
The FRM Exam Part I and Part II are computer-based, multiple-choice exams. Part I is offered solely in English and is typically administered two times per year, in May and November, at over 100 exam sites around the world. In 2022, there will be an additional Part I exam administered in August.
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: foundations of risk management, quantitative analysis, 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:
FRM® Program Fees
The FRM Exam requires a program enrollment fee of $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.
Registration fees vary throughout 2022:
May 2022 Exam:
- Early: $550
- Standard: $750
August 2022 Exam:
- Early: $600
November 2022 Exam:
- Early: $600
- Standard: $800
Our Part I study packages are built to replicate the exam, leaving no surprises on exam day. Begin your preparation today.
Requirements to Earn the FRM®
- Register for the FRM Part I Exam
- Pass the FRM Part I Exam
- Register for the FRM Part II Exam
- Pass the FRM Part II Exam
- 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.
