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FRM – Eligibility

Minimum Eligibility 

  • FRM Part I exam : Even a undergraduate can appear for FRM Part I exam.
  • FRM Part II exam : you should have cleared FRM Part I exam.

FRM Certificate Requirements

  • In order to be certified as a Financial Risk Manager (FRM®) and be able to use the FRM acronym after your name, the following is required:
    • A passing score in the FRM Part I and Part II Exams
    • Active Fellow membership in the Global Association of Risk Professionals
    • A minimum of two years experience in the area of financial risk management or another related field including, but not limited to, trading, portfolio management, academic or industry research, economics, auditing, risk consulting, and/or risk technology

About the Exam

  • Administered by GARP Institute, USA
  • Minimum time to pass the two exams: 6 months
  • Average time: 1 year
  • Benefits of FRM designation
  • Lucrative career options in Risk Management, Trading, Structuring, Modeling, etc. FRM holders have positions such as Chief Risk Officer, Senior Risk Analyst, Head of Operational Risk, and Director, Investment Risk Management, to name a few.
  • Strong value addition to your skills, credentials and resume
  • Complete coverage of risk management concepts 

FRM: Exam pattern

  • Each Part is 4 hours exam ( Two sessions of 2 hrs each)
    • 100 multiple choice question exam for both Part I
    • 80 multiple choice questions for Part II
    • Necessary to Pass Part I before evaluation of Part II
    • Both the parts are held in May and November
  • Part I topics , test weights and question allocation is as follows:
    • Foundations of Risk Management: 20%  20 questions  
    • Quantitative Analysis: 20%  20 questions 
    • Financial Markets and Products: 30%  30 questions 
    • Valuation and Risk Models: 30%  30 questions 

The exam is a percentile based exam and there is a sectionalcut-off for all the subjects, thus it's necessary to pass in all the subjects separately and clear the cutoff overall as well.



FRM Exam Dates, Centers & Fees


Exam Dates

  • FRM Lev I & Lev II exam : 3rd Saturday of May & November month every year.

Exam Centers

  • Delhi, Mumbai, Chennai, Bangalore , Hyderabad, Calicut & Kolkata.


  • Part-I: For May 2012 Exam
    • Early Registration Fees: Dec 1, 2011 to Jan 31, 2012: $650
    • Standard Registration Fees: Feb 1 to Feb 29, 2012: $775
    • Late Registration Fees: Mar 1 to 19 May 2012: $950

FRM Exam Curriculum


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