GARP FRM Course
Aug -Nov2022

Offered by GARP (Global Association of Risk Professionals)

Notice

GARP Announced August 2022 Exam Window for FRM Part I (Not applicable for FRM Part II) | Registration ends on 31 July | Exam Date Aug 6,2022 |

About
Financial Risk Manager (FRM®)

For more than 20 years, the Financial Risk Manager (FRM®) has set the global standard for risk management. Developed by the world’s leading risk practitioners, the designation signifies a mastery of the skills and knowledge needed to help organizations succeed in today’s rapidly changing financial landscape. Currently, more than 60,000 certified FRMs are employed internationally at nearly every major bank, asset management firm, hedge fund, consulting firm, and regulator in the world. FRM registrations have grown by an average of 15% per year since 2010, surpassing 80,000 in 2019. This growth reflects the rapidly increasing demand for professionals trained in measuring and managing financial risk.

Becoming
Financial Risk Manager (FRM®)

Becoming a certified Financial Risk Manager involves a serious commitment in time and energy, a key reason. FRMs are so valued by companies. After achieving a passing score on both parts of the FRM Exam, candidates must submit two years of full-time work experience in finance or a related field to complete their certification.

A candidate has five years to submit their work experience after passing the FRM Exam Part II. Experience up to 10 years prior to passing both Exams is applicable as well. Related work experience may include trading, portfolio management, academia, industry research, auditing, risk consulting, or risk technology.

55000 +
Certified FRM®
55000 +
FRM® Registrations
0 %
Registration Growth
Students

Eligibility for Pursuing FRM®

Anyone can register to take the exam. There are no qualification requirements for FRM. However, from job perspective it is recommended to also own University Graduation or certifications like CA (chartered accountant), CS, or Actuaries (pursuing or completed).  FRM certification is awarded after a candidate has passed two rigorous multiple choice exams (FRM Exam Part I and Part II) and demonstrated two years of relevant work experience.

Steps to become certified FRM®

  • Clear FRM Part I

    4 Hour exam with 100 MCQ Questions

  • Clear FRM Part II

    4 Hour exam with 80 MCQ Questions

  • Submit 2 Years of Work Experience

    10 years prior to passing FRM Part II or within 5 years of Passing FRM Part II

Stepping up

Prepare FRM with Falcon Edufin

FRM Study Package Highlights

We make your FRM journey smoother with our student friendly study content

Video Lessons

Over 120 hours of exam-oriented videos will help you better prepare within a shorter timeframe.

Question Bank

Question bank with more than 1500+ exam level question and concept builders.

FastTrack Videos

Cover all important topics in 35 hours with Fastrack videos. Best for revision and crash preparation.

Mock Test

10 Rounds of section wise test. 2 Rounds of Full Exam Level Mock Test.

Doubt Solving

One to one doubt solving by expert faculties via screen sharing or phone.

Study Notes

Easy To Understand Language, Information in the form of charts and tables. Key points pre highlighted.

FRM® exam pattern

FRM exam consists of two levels FRM Part I and FRM Part II. Candidate can appear for both parts in same exam month or one at a time. Exam. Exam is offered via computer-based testing (CBT)

Program Fees and Registration Date 

August 2022*

Nov 2022

Enrolment fees

One Time Fees

$400

$400

Early Bird (Exam Fees)

 

Fees FRM Part I

$600

$600

Fees FRM Part II

NA

$600

Register before

31 July ‘22

31 July ‘22

Standard Registration (Exam Fees) 

Fees FRM Part I

NA

$800

Fees FRM Part II

NA

$800

Register before

NA

**

*August exam window is only available for FRM Part I and Not for FRM Part II

** GARP is yet to announce the last date of the standard window for Nov 22 Exam (which will depend on the result of August.

Fees Structure

In 2022, GARP will offer the FRM Exam Part I and Part II in two windows during the year, all in CBT format. New candidate must pay $400 one time fees as enrollment fees. After registering for Exam, candidate is provided option to decide preferred exam data from given exam scheduling window. Fees can be paid using Debit card, credit card or other models like wire transfer and net banking.

Exam Window

Exam scheduling window opens after payment of exam fees for the related exam. Exam date and location must be scheduled within time limits.

 August 2022Nov 2022
FRM Part I (14 days)6th August (only one Date)Nov 5-18,2022
FRM Part II (7 days)NANov 19-25, 2022
Exam Schedule beforeNAOctober 21, 2022

Note: Enrollment fees of $400 is one time payment. However, exam fees must be paid for every attempt i.e. if candidate fails in exam wants to appear for exam again, fees must be paid again.

Illustration on exam fees: Assume FRM candidate wants to appear for FRM Part I in May 2022 and Part II in Nov 2022. In this case he/she must pay $400 + $600 in early bird registration. For registration of FRM Part II he/she needs to pay $600in early bird registration. Considering both the exams, total fees paid in this case is $1600.

Subjects and Syllabus

FRM Part I

Foundations of Risk Management
0%
Quantitative Analysis
0%
Financial Markets and Products
0%
Valuation and Risk Models
0%

FRM Part II

Market Risk Measurement
0%
Credit Risk Measurement
0%
Operational Risk and Resiliency
0%
Liquidity and Treasury Risk
0%
Risk Management and Investment
0%
Current Issues
0%

FRM Foundations of Risk Management

This area focuses on a candidate’s knowledge of foundational concepts of risk management and how risk management can add value to an organization and includes:

  • Basic risk types, measurement, and management tools
  • Creating value with risk management
  • Risk governance and corporate governance
  • Credit risk transfer mechanisms
  • The Capital Asset Pricing Model (CAPM)
  • Risk-adjusted performance measurement
  • Multifactor models
  • Data aggregation and risk reporting
  • Financial disasters and risk management failures
  • Ethics and the GARP Code of Conduct
  • Enterprise risk management (ERM)

Quantitative Analysis

This area tests a candidate’s knowledge of basic probability and statistics; regression and time series analysis; and various quantitative techniques useful in risk management such as:

  • Discrete and continuous probability distributions
  • Estimating the parameters of distributions
  • Population and sample statistics
  • Bayesian analysis
  • Statistical inference and hypothesis testing
  • Measures of correlation
  • Line regression with single and multiple regressors
  • Time series analysis and forecasting
  • Simulation methods

Financial Markets and Products

This area tests the candidate’s knowledge of financial products and the markets

in which they trade including:

  • Structures and functions of financial institutions
  • Structure and mechanics of over-the-counter (OTC) and exchange markets
  • Structure, mechanics, and valuation of forwards, futures, swaps, and options
  • Hedging with derivatives
  • Interest rates and measures of interest rate sensitivity
  • Foreign exchange risk
  • Corporate bonds
  • Mortgage-backed securities

Valuation and Risk Models | 30%

This area will test a candidate’s knowledge of valuation techniques and risk models such as:

  • Value-at-Risk (VaR)
  • Expected shortfall (ES)
  • Estimating volatility and correlation
  • Economic and regulatory capital
  • Stress testing and scenario analysis
  • Option valuation
  • Fixed income valuation
  • Hedging
  • Country and sovereign risk models and management
  • External and internal credit ratings
  • Expected and unexpected losses
  • Operational risk

Market Risk Measurement and Management

This area tests a candidate’s knowledge of market risk measurement and

management techniques. These include:

  • VaR and other risk measures
  • Parametric and non-parametric methods of estimation
  • VaR mapping
  • Back testing VaR
  • Expected shortfall and other coherent risk measures
  • Extreme Value Theory (EVT)
  • Modeling dependence: correlations and copulas
  • Term structure models of interest rates
  • Volatility: Smiles and term structures
  • Fundamental Review of the Trading Book

Credit Risk Measurement and Management

This area focuses on a candidate’s understanding of credit risk management with

some focus given to structured finance and credit products such as collateralized

debt obligations and credit derivatives. Areas of knowledge include:

  • Credit analysis
  • Default risk: Quantitative methodologies
  • Expected and unexpected loss
  • Credit VaR
  • Counterparty risk
  • Credit derivatives
  • Structured finance and securitization

Operational Risk and Resiliency

This area addresses a candidate’s knowledge of two areas of increasing

importance for many firms — operational risk management and operational

resilience in the face of changing market conditions. This includes:

  • Principles for sound operational risk management
  • Risk appetite frameworks and enterprise risk management
  • Risk culture and conduct
  • Analyzing and reporting operational loss data
  • Model risk and model validation
  • Risk-adjusted return on capital (RAROC)
  • Economic capital frameworks and capital planning
  • Stress testing banks
  • Third-party outsourcing risk
  • Risks related to money laundering and financing of terrorism
  • Regulation and the Basel Accords
  • Cyber risk and cyber resilience
  • Operational resilience

 

Liquidity and Treasury Risk Measurement and Management

This area tests a candidate’s understanding of liquidity and treasury risk

measurement and management techniques. These include:

  • Liquidity risk principles and metrics
  • Liquidity portfolio management
  • Cash-flow modeling, liquidity stress testing, and reporting
  • Contingency funding plan
  • Funding models
  • Funds transfer pricing
  • Cross-currency funding
  • Balance sheet management
  • Asset liquidity

 

Risk Management and Investment Management

This area focuses on a candidate’s knowledge of risk management techniques

applied to the investment management process, including:

  • Factor theory
  • Portfolio construction
  • Portfolio risk measures
  • Risk budgeting
  • Risk monitoring and performance measurement
  • Portfolio-based performance analysis
  • Hedge funds

 

Current issues in financial markets

 

This area tests a candidate’s knowledge of current issues in financial

markets, including:

  • Artificial intelligence (AI), machine learning, and “big data”
  • Risk management implications of COVID-19
  • Phasing out of LIBOR/Reference rates
  • Climate risk
  • Cyber resiliency in the wider financial system
  • Digital currencies

Pass Percentage from Recent Exam

Part I Nov 21
0%
Part II Nov 21
0%

FRM Part I and II Pass Percentage

Trend Analysis

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