The Best Way to Study for the FRM® Exam
                     The Best Way 
to Study for 
the FRM® 
Exam
Learn to study FRM
INTRODUCTION
When everyone hears about the problem of the FRM exam, very some believe it until 
they experience it for yourselves. For the past 10 years, the passing rates have averaged 
between 40 to 60 percent. People who are studying for the FRM exam are driven and 
smart and want to pass just as much as you do. That means it is critical that you have a 
study plan and adhere to it.
We asked over 100 of our one-time FRM Program students, who now hold FRM 
certifications, what advice they give to candidates just getting started in their studies. We 
assemble some of their advice for this article to help you figure out the best method to 
study for the exam.
Get into a Study Routine Early
Most successful FRM certification holders credit their study 
routine for their success in taking the FRM exams. Not only do 
you need to study the stuff, but you also need to be able to 
put what you learned into scenarios on the exam. This level of 
practical application and understanding takes time to develop. 
Therefore, it is critical that you get into a study routine early 
and stick to it.
We suggest the following Prepare > Practice > Perform method 
of studying. In the preparation stage, you take in information 
through listening to lectures and reading. In the practice stage, 
you start working through practice questions. In the 
presentation stage, you simulate exam conditions to assess 
your level of readiness. As you evolve your study plan, we 
typically suggest spending:
• 40–50% practicing
• 20% performing
• 30–40% of your time preparing
Focus on the Exam Learning and 
Weights Objectives
You should have a solid conception of the FRM Program curriculum and 
how each topic is weighted for the Part I exam. The syllabus is updated 
every exam cycle, with Part I focusing on four core topics, while Part II 
focuses on six. Exam burden varies by level and can change a bit from 
year to year, so it is good to be clear on what the burdens are for the 
exam you are taking.
FRM Part I Exam Topics and FRM Part II Exam Topics and 
Weights Weights
• OPERational risk and resiliency (20%)
• LIQUIDITY AND TREASURY RISK MEASUREMENT AND 
• Quantitative analysis (20%) MANAGEMENT (15%)
• FOUNDATIONS OF RISK MANAGEMENT (20%) • RISK MANAGEMENT AND INVESTMENT MANAGEMENT 
• FINANCIAL MARKETS AND PRODUCTS (30%) (15%)
• VALUATION AND RISK MODELS (30%) • CURRENT ISSUES IN FINANCIAL MARKETS (10%)
• MARKET RISK MEASUREMENT AND MANAGEMENT (20%)
• CREDIT RISK MEASUREMENT AND MANAGEMENT (20%)
Apply Concepts to Real Situations
Just knowing the material isn’t sufficient to pass the FRM exam. You must be able 
to take the knowledge and apply it to real cases. Most queries are not asking you 
to repeat memorized material. They are asking you to use critical thinking skills.
It's essential for FRM professionals to look at a customer's circumstances and use 
what they know to help them. Hence the FRM exam wants you to show that you 
have that skill. Risk management jobs must be able to use all the knowledge they 
have and focus not only on those risk factors that were related to the latest 
dilemma but be able to set up plans for each and every risk factor based on 
current profiles, even if those scenarios seem dissimilar.
Learn How to Take the 
There’s a contrast between learning the material and learning how to 
take the exam. Be confidEent yxou paractmice taking the exam in realistic 
exam conditions in the last 4 weeks of studying. Because it takes off 
the pressure of exam day, the mock exam helps you grow familiarity 
with the testing conditions and gives you the surety to go into exam 
day fully prepared.Mock exams study through each question and help 
you recognize where the answer comes from, the calculations 
needed, and what terms they are testing you on. This will help to 
charge in your knowledge gaps and give you a plan of how you 
should step yourself during the actual exam. Mock tests are not a 
substitute for practice questions or tests, and practice questions and 
tests are not a replacement for mock exams. Each has its own motive 
and unique advice usage. To further amaze the issue, some exam 
preparation providers market practice tests as mock exams. Do your 
research to make sure you’re getting the product you’re expecting 
when you purchase a mock exam.
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