FRM Course Details (Eligibility Syllabus Registration Fee)

Checkout FRM Course Details and details info on Registration and Syllabus. FRM refers to Finance and Risk Management. FRM has become a popular certification course in countries like USA, Australia, India, South Africa, Singapore and Canada etc. FRM Course consists of two level of exam, Part 1 and Part 2. FRM course is a post-qualification one. There are many job opportunities after FRM Course with very high salary packages. Also checkout below FRM Course Fee and Salary details.

FRM Course Exam:

FRM Exam is held twice in a year, in the months of May and November. There are over 140 exam centers across the world.

Exam Requirements for FRM Course Certification

  • Pass the FRM Exam Part I
  • Pass the FRM Exam Part II within 4 years of passing the FRM Exam Part I
  • Demonstrate 2 years of professional full-time financial risk management work experience

A candidate demonstrates work experience by submitting a minimum of 4-5 sentences describing his/her professional role in the management of financial risk. The application to submit your work experience can be completed online.

The work experience submitted cannot be more than 10 years prior to having passed the FRM Exam Part II. Experience completed during school will not be considered, including internships, part-time jobs, or student teaching.

A candidate has 5 years to submit their work experience after they sat and passed the FRM Exam Part II. If they do not, the candidate will have to re-enroll in the program as a new candidate, pay the required fees and retake the FRM Exam Part I and FRM Exam Part II.

Candidates cannot use the FRM designation after their name in any manner until they have been certified.

How much time do I have to complete the FRM Course Certification process?

Once a candidate passes the FRM Exam Part I, they must then pass the FRM Exam Part II within 4 years. Candidates have 5 years from the date they sat and passed the FRM Exam Part II to have their work experience verified.

2017 FRM Course Certificate Distribution Schedule

 Window to submit CV/Resume
 Certificate Mailing Date
 December 20, 2016 – March 17, 2017  March 31, 2017
 March 18, – June 19, 2017  June 30, 2017
 June 20 – September 15, 2017  September 29, 2017
 September 16 – December 18, 2017  December 29, 2017

FRM Course Fee:

For new candidates, standard enrollment fee is $400. For returning candidates, there is no enrollment fee.

For new and returning candidates, the exam fee is the same. See more details on FRM Course Exam fee here.

FRM Course Curriculum (Part 1)

FRM Course Part 1 Paper 1: Foundations of Risk Management (Weight 20%)

  • Risk Management: A Helicopter View
  • Corporate Risk Management: A Primer
  • Corporate Governance and Risk Management
  • What is ERM
  • Financial Disasters
  • The Standard Capital Asset Pricing Model
  • Arbitrage Pricing Theory and Multifactor Models of Risk and Return

FRM Course Part 1 Paper 2: Quantitative Analysis (Weight 30%)

  • Probabilities
  • Basic Statistics
  • Distributions
  • Bayesian Analysis
  • Hypothesis Testing and Confidence Intervals
  • Linear Regression with One Regressor
  • Regression with a Single Regressor
  • Linear Regression with Multiple Regressors
  • Hypothesis Tests and Confidence Intervals in Multiple Regression
  • Modeling and Forecasting Trend
  • Modeling and Forecasting Seasonality
  • Characterizing Cycles
  • Modeling Cycles: MA, AR, and ARMA Models
  • Volatility
  • Correlations and Copulas
  • Simulation Methods

FRM Course Part 1 Paper 3: Financial Markets and Products (Weight 30%)

  • Banks
  • Insurance Companies and Pension Plans
  • Mutual Funds and Hedge Funds
  • Mechanics of Futures Markets
  • Hedging Strategies Using Futures
  • Interest Rates
  • Determination of Forward and Futures Prices
  • Interest Rate Futures
  • Swaps
  • Mechanics of Options Markets
  • Properties of Stock Options
  • Trading Strategies Involving Options
  • Exotic Options
  • Commodity Forwards and Futures
  • Exchanges, OTC Derivatives, DPCs and SPVs
  • Basic Principles of Central Clearing
  • Risks Caused by CCPs: Risks Faced by CCPs
  • Foreign Exchange Risk
  • Corporate Bonds
  • Mortgages and Mortgage-Backed Securities

FRM Course Part 1 Paper 4: Valuation and Risk Models (Weight 30%)

  • Quantifying Volatility in VaR Models
  • Putting VaR to Work
  • Measures of Financial Risk
  • Binomial Trees
  • The Black-Scholes-Merton Model
  • Greek Letters
  • Prices, Discount Factors, and Arbitrage
  • Spot, Forward and Par Rates
  • Returns, Spreads and Yields
  • One-Factor Risk Metrics and Hedges
  • Multi-Factor Risk Metrics and Hedges
  • External and Internal Ratings
  • Capital Structure in Banks
  • Operational Risk
  • Governance over Stress Testing
  • Stress Testing and Other Risk Management Tools

FRM Course Pass Rate (Part 1)

May 2016 48.8%
Nov 2015 50.2%
May 2015 51.7%
Nov 2014 48.6%
May 2014 42.5%
Nov 2013 50.9%
May 2013 45.9%
Nov 2012 46.7%
May 2012 47.3%
Nov 2011 46.6%
May 2011 53.1%
Nov 2010 39.3%
May 2010 52.5%
Nov 2009 55.2%

What types of calculators are allowed to be used on Exam Day?

Only the following types of business calculators are authorized for use during the Exam. There will be no exceptions to this policy. Should a candidate use a non-authorized calculator at any time during the Exam, a violation report will be written and your answer sheets will not be graded. GARP strictly enforces all policies with regard to calculator usage during the FRM Exam and candidates are required to abide by GARP’s policy.