Key takeaways
- FRM stands for Financial Risk Manager, a GARP certification earned by passing Part I and Part II and submitting two years of relevant work experience.
- There is no degree prerequisite to register; Part II must be passed within four years of Part I.
- GARP cites about 240 study hours per exam on average; many candidates finish both parts in 12–24 months.
- 2026 GARP fees: USD 400 one-time enrollment + USD 600 early / USD 800 standard per part (plus taxes/FX).
- November 2026 standard registration closes 30 September 2026; schedule by 24 October 2026.
November 2026 window: As of 29 September 2026, standard registration closes
30 September 2026 (11:59 pm ET). Early registration for this window is closed.
Schedule your appointment by
24 October 2026. Part I runs 14–20 November; Part II runs 21–25 November.
Source:
GARP exam logistics.
What is the FRM course?
FRM stands for Financial Risk Manager, a certification awarded by the Global Association of Risk Professionals (GARP).
The FRM course prepares candidates for two computer-based exams — Part I and Part II — covering market, credit, operational and liquidity risk used in banks, asset managers and risk consultancies.
At RBei Classes, the FRM course means structured coaching around that GARP curriculum: duration planning, eligibility checkpoints, fee budgeting and exam strategy — with full topic weights and readings on our
FRM program syllabus page.
Is there an eligibility requirement for FRM?
No degree prerequisite. Anyone can register for FRM Part I with GARP. To earn the FRM charter after the exams, you must:
- Pass Part II by 31 December of the fourth year after passing Part I.
- Submit two years of relevant full-time work experience within 10 years of sitting Part II (experience may be before or after the exams).
Relevant experience includes roles where identifying, measuring, monitoring or managing risk is a meaningful part of the job — for example risk analysis, trading, portfolio management, treasury, audit or consulting.
Confirm current rules on GARP’s FRM program page.
How long does the FRM course take?
Most candidates complete both FRM parts in 6 months to 2 years, depending on study pace and which May / August / November windows they choose.
GARP reports candidates spend about 240 hours preparing for an exam on average.
| Stage |
Typical duration |
Notes |
| FRM Part 1 |
6–9 months |
~240 study hours; 100 questions, 4 hours |
| FRM Part 2 |
6–9 months after Part 1 |
~240 study hours; 80 questions, 4 hours |
| Both parts |
12–24 months |
Some candidates sit both in one administration |
What is the FRM exam format? Part 1 vs Part 2
Both parts are computer-based multiple-choice exams lasting four hours each. Part I builds foundations; Part II applies them to risk types institutions manage day to day.
| Item |
Part I |
Part II |
| Questions |
100 equally weighted MCQs |
80 equally weighted MCQs |
| Time |
4 hours |
4 hours |
| Focus |
Tools & foundations |
Application by risk type |
| Topic weights |
Foundations 20%; Quantitative Analysis 20%; Financial Markets & Products 30%; Valuation & Risk Models 30% |
Market Risk 20%; Credit Risk 20%; Operational Risk & Resiliency 20%; Liquidity & Treasury 15%; Risk & Investment Management 15%; Current Issues 10% |
| GARP fee (2026) |
Enrollment USD 400 (first time) + USD 600 early / USD 800 standard |
USD 600 early / USD 800 standard (no second enrollment fee) |
Weights and format per GARP FRM curriculum / exam information. Full readings: FRM syllabus.
How much does the FRM course cost in 2026?
GARP exam fees for 2026 (excluding local taxes such as GST/VAT; FX converts to INR at the rate on payment day — figures below use ≈₹84/USD for illustration):
| Fee component |
USD |
Approx. INR |
| One-time enrollment (new Part I candidates) |
$400 |
≈ ₹33,600 |
| Exam registration — early |
$600 per part |
≈ ₹50,400 |
| Exam registration — standard |
$800 per part |
≈ ₹67,200 |
| First-time Part I total (enrollment + exam) |
$1,000–$1,200 |
≈ ₹84,000–₹1,00,800 |
Source: GARP FRM fees. For November 2026, early registration is closed; standard is USD 800 through 30 September 2026.
Other costs to budget
- Optional third-party study materials and practice exams
- Approved calculator
- RBei FRM coaching — batch fees on FRM coaching (enquire for current packages)
When are the FRM exams held?
GARP offers FRM Part I and Part II in May, August and November each year. 2026 windows (confirm on GARP before registering):
| Window |
Part I |
Part II |
Standard registration closes |
Schedule by |
| May 2026 |
9–15 May |
16–19 May |
31 Mar 2026 |
25 Apr 2026 |
| August 2026 |
7–8 August (both parts) |
30 Jun 2026 |
25 Jul 2026 |
| November 2026 |
14–20 Nov |
21–25 Nov |
30 Sep 2026 |
24 Oct 2026 |
Deadlines are 11:59 pm Eastern Time. May and August 2026 windows have already passed as of this update; November is the next open window.
Self-study vs coaching for FRM
Use this prep-mode comparison, then pick the format that matches your timeline. Live and recorded RBei options are detailed on
FRM online coaching.
| Factor |
Self-study |
Recorded course |
Live coaching (RBei) |
| Doubt support |
Forums / peers |
Scheduled or ticketed |
Live sessions with Deepak Goyal |
| Pacing / structure |
Self-managed |
Syllabus playlist |
Weekend / evening batch calendar |
| Mock tests |
Buy separately |
Usually included |
Included with coaching plan |
| Cost |
Lowest cash outlay |
Mid |
Highest; highest accountability |
| Best for |
Strong quant + spare time |
Flexible schedules |
Working professionals needing structure |
How do I register for the FRM exam?
-
Create a GARP account
Open your candidate profile on garp.org.
-
Register and pay
Select Part I and/or Part II, pay the one-time enrollment fee if you are new, and pay the window registration fee before the deadline.
-
Schedule your appointment
Book your CBT seat with the exam provider before the scheduling deadline.
-
Sit the exam
Bring approved ID and an approved FRM calculator.
Also useful:
FRM Part 1 formula sheet
·
FRM exam guide
