FRM (Financial Risk Manager) Requirements & Prerequisites
Everything you need to know before registering for the FRM (Financial Risk Manager), eligibility, cost, format, and what to expect on exam day.
Cost
$1,500-$2,000 total
Provider
GARP
Validity
Lifetime
Available
Global
Education
Check official exam requirements
Experience
3-5+ years of professional experience typically required
Specific Requirements
- There are no educational or professional prerequisites to register for the FRM Exam. GARP states this directly in its FRM FAQs.
- Certification, as opposed to registration, requires three things: passing Part I, passing Part II by December 31 of the fourth year after passing Part I, and submitting two years of full-time relevant risk management work experience.
- The work experience must be full-time and must involve identifying, measuring, monitoring or managing risk as a meaningful part of the role. GARP names risk analysis, model validation, trading, portfolio management, treasury, audit and consulting as examples.
- Internships, part-time jobs and student teaching do not count, and experience completed during school is excluded.
- You have 10 years after sitting Part II to submit the work experience, and experience from up to 10 years before passing counts. Miss that and you re-enrol as a new candidate and retake both exams.
- You cannot use the FRM designation after your name in any manner until GARP has certified you.
Number of Questions
FRM Exam Part I has 100 equally weighted questions. FRM Exam Part II has 80 equally weighted questions
Duration
Four hours for each part
Question Format
Multiple choice, equally weighted, no partial credit, Computation items where GARP provides no formula sheet, Application questions in Part II built on the tools introduced in Part I
Passing Requirement
GARP does not publish a passing score. Both exams are graded pass or fail, and candidates also receive quartile results comparing their topic performance with other candidates
How It Is Delivered
Computer-based testing at a test center. Candidates in China Mainland, Hong Kong SAR China and Thailand schedule through ATA; all other candidates schedule through PSI. Seats are first come, first served
Languages Offered
American English, Simplified Chinese, which GARP offers to candidates in Mainland China on designated dates
Visit the official GARP certification page
Create an account and select your exam
Choose a test center or online proctoring option
Pay the exam fee and schedule your date
- Two forms of valid ID (one government-issued with photo)
- Appointment confirmation email
- For online proctoring: webcam, microphone, clean desk, stable internet
What are the prerequisites for the FRM (Financial Risk Manager)?
There are no educational or professional prerequisites to register for the FRM Exam. GARP states this directly in its FRM FAQs.. Certification, as opposed to registration, requires three things: passing Part I, passing Part II by December 31 of the fourth year after passing Part I, and submitting two years of full-time relevant risk management work experience.. The work experience must be full-time and must involve identifying, measuring, monitoring or managing risk as a meaningful part of the role. GARP names risk analysis, model validation, trading, portfolio management, treasury, audit and consulting as examples.. Internships, part-time jobs and student teaching do not count, and experience completed during school is excluded.. You have 10 years after sitting Part II to submit the work experience, and experience from up to 10 years before passing counts. Miss that and you re-enrol as a new candidate and retake both exams.. You cannot use the FRM designation after your name in any manner until GARP has certified you..
How much does the FRM (Financial Risk Manager) cost?
The FRM (Financial Risk Manager) exam costs $1,500-$2,000 total. This includes the exam fee only, study materials are additional.
How do I register for the FRM (Financial Risk Manager)?
Visit the official GARP certification page → Create an account and select your exam → Choose a test center or online proctoring option → Pay the exam fee and schedule your date
What should I bring to the FRM (Financial Risk Manager)?
Two forms of valid ID (one government-issued with photo). Appointment confirmation email. For online proctoring: webcam, microphone, clean desk, stable internet.
Ready to prepare for FRM (Financial Risk Manager)?
Get the complete exam guide with study plan, tips, and practice questions.
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