How To Become A Financial Risk Manager?

How To Become A Financial Risk Manager?

Becoming a certified Financial Risk Manager is a straightforward process that consists of passing the FRM exam and meeting the certification requirements of the Global Association of Risk Professionals (GARP).

Requirements for FRM Certification

Candidates have 5 years to submit their work experience passing the FRM Exam Part II. The work experience submitted cannot be more than 10 years prior to when they passed the exam.

The FRM Exam consists of two parts, Part I and Part II, which are both offered twice a year on the third Saturday of May and the third Saturday of November. Part I is comprised of 100 equally weighted multiple-choice questions. Part II includes 80 equally weighted multiple-choice questions. Part I is offered during the morning and Part II is during the afternoon session. The exams are administered in paper and pencil and must be completed within four hours.

Part I and Part II must be passed sequentially and you must receive a passing score on Part I before GARP will score your Part II. Therefore, most candidates elect to take Part I and Part II on separate exam administrations.

FRM Exam Part I: Focuses on tools to assess financial risks. Topics include foundations of risk management concepts; quantitative analysis; financial markets and products; and valuation and risk models.

FRM Exam Part II: Emphasizes application of the tools learned in Part I. Topics include market risk measurement and management; credit risk measurement and management; operational and integrated risk management; risk management and investment management; and current issues in financial markets.

FRM Exam Costs

One-time Enrollment Fee: $400

Early Bird Standard Late
Part I $350 $475 $650
Part II $350 $475 $650


Deferral Fee: $100.00
Switch Fee: $100.00

The above fees do not include study materials.