Studying for the Part II Exam 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 II is hard work. GARP recommends you aim to spend at least 200 hours preparing for Part II exam. Schweser’s Prepare, Practice, Perform® methodology gives you the structure you need to get the most of the time you spend preparing.
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 II Curriculum
- Market Risk Measurement and Management: 20%
- Credit Risk Measurement and Management: 20%
- Operational Risk and Resiliency: 20%
- Liquidity and Treasury Risk Measurement and Management :15%
- Risk Management and Investment Management :15%
- Current Issues in Financial Markets: 10%
FRM Part II Exam Details
2021 Registration and FRM® Exam Dates
May Paper-Based Exam Date:
- May 15, 2021
December Computer-Based Exam Dates:
- December 4–10, 2021
Final Deadline Exam Registrations—May Exam:
- Ends January 31, 2021
- Ends March 31, 2021
Final Deadline Exam Registrations—December Exam:
- Ends July 31, 2021
- Ends September 30, 2021
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.
Body of Knowledge
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:
FRM® Program 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.
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 II Study Packages.