FRM Course: Hone Your Risk Management & Finance Skills

Synopsis

Insufficient risk management can have serious consequences for both businesses and people. Macro-level poor risk management can bring down an economy. To navigate such risks, FRM (Financial Risk Management) professionals can make a difference. Learn all about the FRM course to become the desired professional.

The FRM course is offered by the Global Association of Risk Professionals (GARP, USA) to help professionals understand, analyze, and mitigate risks businesses may face. It is the gold standard with regard to academic excellence in risk management, and professionals who have completed this course can pursue a career in risk management. 

The FRM certification has propelled 80,000+ professionals with transferable knowledge applicable across industry platforms, a boost in job performance & career prospects, and the opportunity to be employed at the top banks as well as asset management companies. This article highlights the essential FRM course details that you should know before appearing for the exam.

FRM Curriculum

Let's start by looking at what the FRM curriculum entails. 

	Module
FRM Part I    Exam: 100 MCQs, 4 hours   Applicants can appear for the exam in May, August, and November every year	Risk Management Overview, ERM, and Governance
	Pricing Models and Risk Transfer
	Financial Crises and Disasters, GARP Code of Conduct
	Probability and Statistics
	Hypothesis Testing and Regression
	Time Series, Forecasting, Simulation and Machine Learning
	Financial Institutions, Markets and Central Clearing
	Forwards, Futures and Foreign Exchanges
	Options Markets and Trading Strategies
	Interest Rates, Swaps and Fixed Income Securities
	Measuring Risk and Volatility
	Understanding Credit Ratings and Credit Risk
	Operational Risk, County Risk and Stress Rating
	Valuing Fixed Income Securities
	Modeling Option Values and Sensitivities
FRM Part 2   Exam: 80MCQs, 4 hours   Exams are offered in May, August, and November every year	Analyzing Market Risk and Correlation Risk
	Term Structure and Volatility Modeling and Trading Considerations
	Analyzing Credit Risk
	Modeling Structured and Portfolio Credit Risk
	Counterparty Risk Management
	Retail Credit Risk and Credit Risk Transfer
	Operational Risk Management, Governances, and Model Risk
	Capital Frameworks and Capital Planning
	Regulation and Resiliency
	Introduction to Liquidity Risk Management
	Stress Testing, Contingency Planning, Deposit Services and Non-deposit Liabilities
	Repos, Liquidity Transfer, Interest Rate Risk Management and Cross-Currency Concerns
	Portfolio Construction and Management
	Risk Budgeting/Performance Measurement Funds
	Current Issues in Financial Markets

Things to Remember 

• The candidate has approximately 2.4 minutes to answer each question. 
• The questions are of varying difficulty, with some requiring simple calculations to find the answer and others requiring the elaborate application of learned concepts to real-life situations. 
• The exam questions focus on a candidate's grasp of concepts and the average pass rate is around 41-50%.

 Eligibility for FRM Clourse

• There are no minimum eligibility criteria to apply for the FRM course. However, a minimum of two years of relevant work experience is necessary to earn the FRM certification. 
• An undergraduate in the final year of their degree is eligible to apply for the FRM Part I exam. However, one needs to clear Part I to appear for Part II. The applicant should also have two or more years of work experience.
• Parts 1 and 2 of the FRM program must be completed within four years of applying for the Part 1 exam.

How to Register for FRM

Registering for the FRM exam is simple. You can directly register via the website of GARP. Here are the important details that you need to know to fill out the registration form:

• Go to the GARP website registration portal.
• Select the Exam section.
• Choose the exam you are interested in appearing for (Part 1 or Part 2). If you desire to appear for both, then select accordingly. 
• Select the examination dates as per your desirability. 
• Select your country, and fill in other details. 
• Fill in other mandatory fields and pay your examination fee.
• You will be registered for the exam.

Note: a) You will not receive FRM certification without qualifying Part 2 exam. 

           b) Ebooks for preparation will be available to you as a part of registration. However, if you     wish to buy a hard copy, you can do that.

Which should you choose?

MBA or FRM

FRM Exam Fees

FRM Exam Part I
Type	Fees
Early	$1,000
Standard	$1200

FRM Exam Part II
Type	Fees
Early	$600
Standard	$800

Exam Dates & Deadlines

It is just as important to stay updated with the latest dates and deadlines as preparation for a specific course. The exam windows for FRM are given in the table below. 

		FRM Exam Part I	FRM Exam Part II
		Fees	Fees	Exam Dates
New Candidates	Early	Enrollment Fee: $400 Exam Fee: $600	-	May 18–22, 2026
	Standard	Enrollment Fee: $400  Exam Fee: $800	-
Returning Candidates	Early	Exam Fee: $600	Exam Fee $600
	Standard	Exam Fee: $800	Exam Fee $800

Job Prospects After FRM Course

The FRM course allows a professional to utilize risk management tools and techniques in the investment management processes. As a result, a professional certified in FRM has ample career options in risk management and trading, with outstanding job roles within the field.

Job	Average Expected Salary Range
Associate Vice President	$100,000 – 200,000
Risk Analyst	$64,000 – 100,000
Risk Manager	$77,000 – 100,000
Senior Business Analyst	$85,000 – 100,000
Financial Analyst	$59,000 – 84,000
Credit Risk Analyst	$70,000 – 100,000
Senior Risk Manager	$92,000 – 100,000
Data Analyst	$59,000 – 90,000

Source: Glassdoor

Some of the top hiring firms include: 

• Bank of China
• ICBC 
• HSBC
• JP Morgan Chase
• CitiGroup 
• UBS
• Deutsche Bank
• KPMG
• Credit Suisse
• Wells Fargo