FRM® - Frequently Asked Questions

To be certified as a Financial Risk Manager (FRM®) and use the FRM® acronym after your name, you must first complete the following steps:

• Pass the FRM Exam Part I.
• Pass the FRM Part II exam within four years of passing the FRM Part I exam.
• Two years of experience in financial risk management or a related field such as trading, portfolio management, academic or industry research, economics, auditing, risk consulting, and/or risk technology is required.
• However, there is no minimum educational requirement for taking the FRM® exam.

Although the FRM® charter requires two years of relevant work experience, there are no eligibility requirements for taking the FRM® exam. You can take the FRM® exam, pass it, gain relevant work experience, and then obtain the charter.

If you pass the FRM® exam (full exam or both Level-I and Level-II) but lack the required two years of relevant work experience, GARP will issue you a letter stating that you passed the FRM® exam. You will be recognised as a "FRM® Holder," but not as a "Certified FRM® Holder." You will not be eligible to use the FRM® designation after your name until you have obtained the required two years of work experience, submitted proof to GARP, and received confirmation from GARP that you are formally included on its registry of certified FRM® holders. On your CV or resume, you can include the following statement: "FRM® Program-Passed Levels I & II." That would be beneficial to your resume.

Once you have passed both the FRM® Exam Level I and II, met the 2 year work experience requirement, and received an email notification that your CV/resume submission for your FRM® Certificate has been reviewed and is complete, you can begin using the FRM® designation after your name.

You can take the FRM® exam, but you won't get the charter until you meet the requirements listed above.

If you passed the level I exam but did not appear or pass the level II exam, you can include the following statement on your CV/Resume: "FRM® Program - Passed Level I"

If you have passed the FRM® Exam Levels I and II but have not yet met the work experience requirement or have not been notified by GARP that your work experience meets the requirements for certification, you will be considered an "FRM® Holder" and can include the following statement on your CV/Resume: "FRM® Program-Passed Levels I & II"

Yes. Once you pass both the levels, you have 5 years to submit your CV/resume to GARP's Resume Builder after passing the FRM Exam Part II. Experience up to 10 years prior to passing both exams is applicable as well. If you do not complete this step within this timeframe, you will be required to re-enrol in the program, pay all applicable fees, and retake the FRM Exam Part I and Part II.

No There are no time constraints for re-registering for the FRM® Exam Level I. If you re-register, you will only be required to pay the exam fee; you will not be required to pay the enrolment fee.

Yes. After passing the FRM® Exam Level I, candidates must pass the FRM® Exam Level II within four years. If a candidate does not pass the FRM® Exam Level II within that timeframe, they must restart the program and re-enrol in the FRM® Exam Program

GARP seeks work experience in which risk identification, measurement, monitoring, or management is a significant part of the job's responsibilities. Because the FRM covers a wide range of critical and fundamental aspects of risk, finance, and quantitative analysis, it is used in a variety of jobs, including risk analysis, model validation, trading, portfolio management, treasury, audit, consulting, and many others.