Syllabus
FRM topics
Public study hubs for every GARP FRM Part I and Part II domain. Create a free account to practice tagged questions.
Part I
Foundations of Risk Management
Core risk-management principles, risk types, governance, and performance measures such as CAPM, Sharpe, Sortino, and Jensen's alpha.
10 questions
Quantitative Analysis
Probability, statistics, regression, time series, and volatility models used throughout FRM Part I and Part II.
10 questions
Financial Markets and Products
Forwards, futures, options, swaps, bonds, FX, repos, and central clearing — the product toolkit for FRM candidates.
10 questions
Valuation and Risk Models
VaR, expected shortfall, Greeks, duration/convexity, and structural credit models for valuation and risk measurement.
20 questions
Part II
Market Risk Measurement and Management
Advanced market-risk topics: non-linear risk, risk-factor mapping, and regulatory market-risk capital frameworks.
10 questions
Credit Risk Measurement and Management
Default risk, credit exposures, credit derivatives, and portfolio credit-risk models.
10 questions
Operational Risk and Resilience
Operational risk capital, loss-event taxonomies, cyber risk, and operational resilience expectations.
10 questions
Liquidity and Treasury Risk Measurement and Management
Funding liquidity, market liquidity, LCR/NSFR-style metrics, and treasury risk management.
10 questions
Risk Management and Investment Management
Portfolio construction, risk budgeting, hedge funds, and investment risk oversight.
5 questions
Current Issues in Financial Markets
Emerging themes such as climate risk, AI/ML model risk, and macro-financial stress topics relevant to the current FRM reading list.
5 questions