FRM - Financial Risk Manager by GARP, USA

FRM - Financial Risk Manager by GARP, USA

 Updated for 2026 as per GARP USA:

FRM - Financial Risk Manager by GARP, USA

1. ELIGIBILITY & REGISTRATION

No strict eligibility to write exam - Anyone can register, even final year graduation student

To get Certificate: You need to pass Part 1 + Part 2 + 2 Years relevant work experience in Risk Management within 10 years

Education recommended: Bachelor's degree (any stream) - Commerce, Finance, Engineering also allowed

No Age Limit 22e5

2. REGISTRATION & EXAM FEES 2026 (Payable to GARP in USD)

Component USD Approx INR

One-Time Enrollment Fee (New Candidate) $400 ~₹33,000

Part 1 Exam Fee - Early $600 ~₹50,000

Part 1 Exam Fee - Standard $800 ~₹67,000

Part 2 Exam Fee - Early / Standard $600 / $800 ~₹50k / ₹67k

Total for Both Parts (Early) $1600 ~₹1.35 Lakh

Total for Both Parts (Standard) $2000 ~₹1.70 Lakh

> Early Registration saves $200 per part. Registration fee is non-refundable 92e4

3. EXAM STRUCTURE - 2 LEVELS

Level Questions Duration Subjects

Part I 100 MCQs 4 Hours 1. Foundations of Risk Mgmt (20%) 2. Quantitative Analysis (20%) 3. Financial Markets & Products (30%) 4. Valuation & Risk Models (30%)

Part II 80 MCQs 4 Hours 1. Market Risk (20%) 2. Credit Risk (20%) 3. Operational Risk (20%) 4. Liquidity & Treasury Risk (15%) 5. Risk Mgmt & Investment Mgmt (15%) 6. Current Issues in Financial Markets (10%)

Exam Mode: Computer-Based Test (CBT)

Exam Frequency: 3 times a year - May, August, November 2604da62

4. DIFFICULTY LEVEL & PASS RATE

Difficulty: High - One of toughest in Finance. Heavy Quantitative + Application based.

Passing Criteria: No fixed % - GARP uses quartile based grading, estimated 45-50% for Part 1

Average Global Pass Rate: Part 1 ∼45%, Part 2 ∼60% 2604

5. GRADING SYSTEM

No negative marking.

Grading is comparative - Top 5% scorers decide cut-off. Result is Pass/Fail with Quartile analysis.

GARP uses pass/fail standard set by committee, not published cut-off 6e59

6. EXAM VENUE

In India: Mumbai, Delhi, Bangalore, Kolkata, Chennai, Hyderabad, Pune etc.

You select venue while scheduling on PSI portal after registration.

7. JOB OPPORTUNITY - BEST AFTER FRM

Top Recruiters: JP Morgan, Goldman Sachs, HSBC, Deloitte, PwC, ICBC, All Banks & NBFCs 2604

Job Role Salary in India

Risk Analyst 8-12 LPA

Credit Risk Manager 9-15 LPA

Market Risk Specialist 12-20 LPA

Financial Risk Manager 10-18 LPA

GMSISUCCESS STRATEGY FOR FRM STUDENTS:

1. Focus 10+: Valuation & Risk Models + Financial Markets & Products = 60% of Part 1

2. Formula Sheet: Memorize VaR, Greeks, CAPM, Bond Valuation, GARCH, EWMA

3. Use Finzo Software http://www.finzo.pw - Solve 100% IMA/GARP type MCQs

4. No Theory Reading - FRM is MCQ recognition skill. Practice my Keyword Notes.

Call/Text for FRM Counselling Tel 9773464206: Prof Mahaley Head Gmsisuccess,  opp Goregaon Rly station, Goregaon West Mumbai

www.gmsisuccess.in