Practitioner course in risk management
FRM Exam Preparation: Part I
Structured preparation for the FRM Part I exam: the four Part I topic areas taught with worked problems, timed practice sets, and a mock exam. Independent preparation; not affiliated with or endorsed by GARP.
The Financial Risk Manager designation, awarded by GARP, is one of the most widely held credentials in risk management. Part I of the FRM exam tests the tools of the field: quantitative methods, markets and products, valuation and risk models, and the foundations of risk governance. This course gives structured teaching and practice for that exam.
What does FRM Part I cover?
Four areas: foundations of risk management, quantitative analysis, financial markets and products, and valuation and risk models. The exam is multiple choice and rewards fast, accurate calculation as much as understanding. The course teaches each area with worked problems and then builds speed with timed sets.
How is this different from the official FRM materials?
GARP’s official readings set out the curriculum; this course teaches it. Each topic is explained, worked through and practised, and the practice results show which areas need more time. It is meant to be used alongside the official materials, not instead of them.
Who is this course for?
Candidates registered for or planning to sit FRM Part I. This is independent exam preparation: it is not affiliated with or endorsed by GARP, and completing it does not confer the FRM designation. It does not count toward an IATACF credential program.
What you will be able to do
- Work through the four FRM Part I topic areas with worked problems.
- Solve exam-style quantitative problems under time pressure.
- Identify and close gaps using topic-level practice results.
- Complete a full-length timed mock exam and review it.
Syllabus, module by module
The exam and a study plan
Format, topic weights as published by GARP, and a plan for the hours available.
Foundations of risk management
Risk governance, the CAPM and risk-adjusted performance, famous risk failures and ethics.
Quantitative analysis
Probability, statistics, regression, time series and simulation for risk.
Financial markets and products
Banks, funds, exchanges, forwards, futures, swaps, options and fixed income instruments.
Valuation and risk models
VaR, option valuation, bond valuation and sensitivities, credit ratings and stress testing.
Timed practice
Mixed problem sets under exam timing, with worked answers.
Mock exam and review
A full-length mock exam and a structured review of weak areas.
How the certificate is earned
Topic quizzes, timed practice sets and a full-length mock exam with worked answers. The course certificate requires completing all practice sets and the mock exam; it is not an FRM qualification. On a pass you receive the Course certificate in FRM Part I Preparation, issued by the Institute with a verification code. Read how certification works.
Before you start
Probability and statistics to undergraduate level and familiarity with financial markets. GARP registration is separate and paid to GARP.
Questions applicants ask
Is this course endorsed by GARP?
No. FRM and Financial Risk Manager are trademarks of the Global Association of Risk Professionals. GARP does not endorse, promote, review or warrant this course or the accuracy of its materials.
Does the course fee include the FRM exam?
No. Exam enrolment and registration are paid directly to GARP. This course is independent teaching and practice to help you prepare.
How many hours should I study for FRM Part I?
GARP states that candidates spend about 240 hours on average preparing for each exam part. This course provides 80 hours of structured teaching and practice; you should plan additional reading of the official materials.