The Financial Risk Manager (FRM) certification, administered by GARP, is a prestigious credential for professionals specializing in risk management. Recognized globally by top employers in investment banking, asset management, and regulatory sectors, it requires a significant time commitment to master its concepts. Many aspiring FRMs want to know: How long does it take to complete the FRM course?
In this blog, we discuss how long it would take to prepare for FRM Part 1 and Part 2, with examples of factors that could speed up or slow down your preparation. This is true whether you are a full-time student or a working professional. You should be aware of the average preparation time and plan your schedule accordingly to effectively manage your other responsibilities along with FRM preparation. Setting proper timelines is crucial to successfully achieve the FRM certification.
What is FRM?
The Financial Risk Manager (FRM) certification, offered by the Global Association of Risk Professionals (GARP), is designed for those looking to excel in risk management roles. The FRM designation is globally recognized and valued by employers in the financial services industry, particularly in risk management, banking, investment, and regulatory sectors.
GARP administers the FRM exam in two parts, which must be passed to earn the certification:
- FRM Part 1 focuses on the tools used to assess financial risks.
- FRM Part 2 builds on these foundations and explores more advanced concepts, including credit and market risks, and operational risk management.
To understand more about the FRM course in detail, read- All About the FRM Course
Overview of the FRM Course Structure
The FRM (Financial Risk Manager) certification is divided into two parts, each focusing on specific areas of financial risk management. Together, they cover a comprehensive range of risk management topics, from the foundational concepts to advanced applications. This structure ensures that candidates develop both theoretical knowledge and practical skills needed to manage financial risk effectively.
FRM Part 1: The Fundamentals of Risk Management
FRM Part 1 serves as the foundation for risk management and focuses on the tools and techniques used to identify, assess, and mitigate financial risks. This part is designed to equip candidates with the essential knowledge required to analyze risk in different financial contexts.
The topics covered in FRM Part 1 include:
Foundations of Risk Management:
This section covers the basic concepts and principles of risk management, including the history of financial risk, the role of risk managers, and key risk management frameworks.
Quantitative Analysis:
A focus on statistical and mathematical techniques, such as probability, regression analysis, and hypothesis testing, which are essential for assessing and managing financial risks.
Financial Markets and Products:
This section explores various financial instruments, including bonds, derivatives, and equity products, along with their associated risks.
Valuation and Risk Models:
Candidates learn about the valuation of assets and the models used to measure and manage risk, including Value-at-Risk (VaR) and stress testing.
To get in-depth insight about the FRM Part 1, read- All About FRM Part 1
FRM Part 2: Advanced Risk Management Concepts
FRM Part 2 builds on the knowledge gained in Part 1 and delves into more advanced risk management concepts. This part emphasizes the practical application of risk management theories and tools in real-world financial situations.
The topics covered in FRM Part 2 include:
Market Risk Measurement and Management:
This section covers the management of risks related to market variables like interest rates, equity prices, and foreign exchange rates.
Credit Risk Measurement and Management:
Candidates learn how to assess and manage credit risk, including default risk, credit spread risk, and counterparty risk.
Operational and Integrated Risk Management:
This section focuses on the management of operational risks, including human error, system failures, and legal risks. It also covers integrated risk management frameworks.
Liquidity and Treasury Risk Measurement and Management:
This section addresses liquidity risk, or the risk that a firm will not have sufficient cash flow to meet its obligations. Candidates learn about managing liquidity risk through treasury functions.
Risk Management and Investment Management:
This topic looks at how risk management principles are applied to investment portfolios, including asset allocation, performance measurement, and risk-adjusted returns.
Current Issues in Financial Markets:
The final section explores emerging trends and challenges in risk management, such as regulatory changes and technological advancements.
To understand more in-depth about the FRM Part 2, read- All About FRM Part 2
Exam Format and Grading
Both FRM Part 1 and Part 2 are multiple-choice exams. Each part is four hours long:
- Part 1 consists of 100 multiple-choice questions.
- Part 2 consists of 80 multiple-choice questions.
FRM Course Duration: Key Factors
The time required to complete the FRM certification can vary widely depending on several factors. While some candidates can complete both FRM Part 1 and Part 2 within a year, others may take longer depending on their personal circumstances, background, and preparation strategies. On average, candidates spend 1 to 2 years preparing for and completing both parts of the FRM exam. Below are the key factors that influence the overall course duration:
Average Study Time for Each Part
On average, candidates are advised to dedicate significant time to prepare for each part of the exam:
FRM Part 1:
- It is recommended to invest approximately 150–200 hours of study time.
- This typically translates to 3 to 6 months of preparation, depending on your study schedule and prior knowledge.
FRM Part 2:
- This part generally requires 200–250 hours of study, as it covers more complex and advanced topics.
- Candidates typically spend around 4 to 6 months preparing for Part 2.
The total preparation time for both parts ranges between 350 to 450 hours. The exact amount of time you need will depend on how familiar you are with the exam content and how effectively you can manage your study time.
Exam Windows and Schedule
The FRM exam is offered twice a year, in May and November. This means that, at best, a candidate can complete both parts within a span of six months. However, most candidates choose to space out the exams:
Part 1 in May and Part 2 in November:
This is a common approach, where candidates use the six-month window between the two exams to prepare for Part 2.
Longer Time Gap:
Some candidates may choose to take more time between Part 1 and Part 2 to better accommodate their schedules or to ensure thorough preparation.
Your timeline will largely depend on when you feel confident enough to take each exam, but the availability of these two exam windows allows candidates some flexibility in scheduling.
Study Approach and Mode of Preparation
The mode of study you choose can also significantly affect the duration it takes to complete the FRM certification:
Full-time vs. Part-time Study:
- A full-time student, dedicating most of their time to FRM preparation, may complete the certification faster, often within a year.
- However, working professionals balancing a job might need more time and can take 1.5 to 2 years to complete both parts.
Self-study vs. Coaching Programs:
- Some candidates prefer self-study using books and online resources, which can be more flexible but might take longer.
- On the other hand, enrolling in structured FRM coaching programs can help speed up the preparation process by providing a more disciplined study environment and access to expert guidance.
Background Knowledge and Prior Experience
Candidates with a background in finance, economics, or quantitative analysis may find some sections of the FRM syllabus easier to grasp, reducing the amount of time needed to prepare. For example:
Background Knowledge:
Prior knowledge of risk management or familiarity with financial instruments like derivatives, bonds, and equity markets may make Part 1 easier to navigate.
Prior Experience:
Experience in operational risk, market risk, or credit risk may shorten the time needed to study for Part 2, as these concepts build on professional knowledge.
Time Management Skills
- Good time management is essential for completing the FRM course within a reasonable timeframe.
- Candidates who can efficiently balance their study schedule with other responsibilities tend to complete the certification faster.
- Poor time management or inconsistent study habits can lead to prolonged preparation periods.
- Creating a structured study plan with set goals for covering the syllabus, revising, and taking practice tests can help candidates stay on track and finish the course within their desired timeline.
Work and Personal Commitments
- For working professionals, balancing full-time jobs with studying for the FRM exam can extend the preparation time.
- Job responsibilities, travel, or personal commitments, such as family or health, can limit the hours available for study each week.
- If you are working while preparing for the FRM exam, it’s important to set a realistic schedule that accommodates both work and study time.
- Part-time candidates often need 12 to 18 months to complete both parts, depending on how much time they can dedicate to studying each week.
Retakes and Exam Results
- Unfortunately, not all candidates pass both Part 1 and Part 2 on their first attempt.
- Retaking the FRM exam can significantly increase the total duration to complete the certification.
- GARP offers two exam windows per year, meaning if a candidate fails in May, the next opportunity to retake the exam would be in November. This can add an extra 6 months or more to the total time.
- To avoid retakes, it’s crucial to thoroughly prepare using practice exams and mock tests to identify weak areas and ensure you are ready before sitting for the actual exam.
GARP’s 5-Year Time Limit
- Finally, it’s important to note that GARP imposes a 5-year time limit to complete Part 2 after passing Part 1. If you don’t pass Part 2 within 5 years, you will need to retake Part 1 to maintain eligibility.
- While most candidates complete the program much faster, this rule provides a clear deadline and can influence how long you take to finish the certification.
Breakdown of FRM Study Time
The FRM certification demands rigorous preparation, with each part requiring a dedicated amount of study time. However, the time commitment for each part can vary depending on your background, learning style, and availability. Below, we break down the typical study time required for FRM Part 1 and FRM Part 2, offering insights into how to effectively manage your time.
Preparation for FRM Part 1
FRM Part 1 is widely regarded as the foundational stage of the certification, and it covers the essential tools and concepts required for managing financial risks. Candidates are advised to dedicate approximately 150 to 200 hours of study time to prepare adequately for this part.
Study Time Allocation for FRM Part 1:
Foundations of Risk Management (20% of the exam):
- Study Time: 30–40 hours
- Focus on understanding key risk management concepts, risk types, and the role of risk managers in the financial system.
- Topics include corporate governance and risk frameworks.
Quantitative Analysis (20% of the exam):
- Study Time: 30–40 hours
- This section covers probability distributions, statistical methods, and hypothesis testing.
- Candidates with a quantitative background may need less time, while those unfamiliar with these concepts may need more practice.
Financial Markets and Products (30% of the exam):
- Study Time: 45–60 hours
- This is a heavier section that covers the structure and functioning of financial markets, derivatives, and financial instruments like bonds and equities.
- Candidates should focus on developing a clear understanding of financial products and their associated risks.
Valuation and Risk Models (30% of the exam):
- Study Time: 45–60 hours
- This section involves learning various risk models, value-at-risk (VaR) calculations, and how to assess the risks associated with different financial instruments.
- It’s a key part of the FRM exam and requires in-depth study.
Weekly Study Recommendations:
- For candidates preparing part-time while working, aim to study 10–15 hours per week over a period of 3 to 6 months.
- Full-time students or those with more flexible schedules can condense this into 8–10 weeks by studying 20–25 hours per week.
The graph depicts the study time allocation for different sections of FRM Part 1.
Preparation for FRM Part 2
FRM Part 2 is considered more advanced, focusing on the application of risk management techniques in real-world scenarios. This part requires a deeper understanding of complex topics like market risk, credit risk, operational risk, and risk management in investment portfolios. Candidates typically spend 200 to 250 hours preparing for Part 2.
Study Time Allocation for FRM Part 2:
Market Risk Measurement and Management (25% of the exam):
- Study Time: 50–60 hours
- Focus on understanding advanced risk models such as value-at-risk (VaR), stress testing, scenario analysis, and the techniques used for managing market risk.
Credit Risk Measurement and Management (25% of the exam):
- Study Time: 50–60 hours
- This section covers topics like credit exposure, default risk, credit derivatives, and structured products.
- Given the complexity, candidates should allocate sufficient time to master these concepts.
Operational and Integrated Risk Management (25% of the exam):
- Study Time: 50–60 hours
- Operational risk, including risk management failures, internal fraud, and the role of technology in risk mitigation, is emphasized.
- This section also covers integrating risk management across different types of risks.
Risk Management and Investment Management (15% of the exam):
- Study Time: 30–40 hours
- This section covers risk management strategies in asset management, portfolio risk, and hedge fund risks.
- Candidates should focus on understanding how risk is managed in investment portfolios.
Current Issues in Financial Markets (10% of the exam):
- Study Time: 20–30 hours
- This part examines recent trends and regulatory changes affecting global financial markets.
- Topics here tend to change based on emerging trends, making it essential to stay updated with the latest financial news and developments.
Weekly Study Recommendations:
- Given the complexity of Part 2, it is recommended to allocate 12–15 hours per week over a period of 4 to 6 months.
- Candidates with more flexibility can finish in 10–12 weeks by dedicating 20–25 hours per week to study.
The graph shows the study time allocation for different sections of FRM Part 2.
Balancing Work, Study, and Life
Many candidates preparing for the FRM exam are working professionals. Balancing work commitments with study can be challenging, but careful time management can make this process easier:
- Time Blocking: Dedicate specific blocks of time each day or week solely for study. Aim for consistent study sessions, even if they are short.
- Practice Tests: Regularly take mock exams to gauge your progress. These will help you identify areas where more study is needed and familiarize you with the exam format.
- Revision Period: Reserve the last 2–3 weeks before the exam for thorough revision and additional practice exams. This is crucial for reinforcing key concepts and building confidence.
Estimated Time to Complete FRM
The time it takes to complete the FRM certification varies based on several factors such as study mode, professional background, and exam preparation strategy. Typically, candidates complete the FRM course in 9 months to 2 years, depending on their pace and ability to balance studies with work and personal commitments.
For Full-Time Students
For those who can dedicate significant time to studying and preparing for the exams, the FRM certification can be completed relatively quickly. Many full-time students complete the certification in 9 to 12 months, as they can focus entirely on their studies and aim to pass both Part 1 and Part 2 in consecutive exam sessions.
FRM Part 1:
Typically requires around 150 to 200 hours of study. Most full-time students prepare for this exam in 4 to 6 months, depending on their prior knowledge of finance and risk management concepts.
FRM Part 2:
Being more complex, Part 2 requires 200 to 240 hours of preparation. Many students aim to take this exam 6 months after passing Part 1, which enables them to complete both parts within a year.
Example:
A full-time student may sit for FRM Part 1 in May and Part 2 in November, completing the entire certification within 9 to 12 months.
For Part-Time Students
Part-time study is common among working professionals who must balance their job, studies, and personal commitments. For part-time students, completing the FRM certification typically takes 12 to 24 months.
FRM Part 1:
For part-time candidates, preparation for Part 1 usually takes 6 to 9 months, as they need to allocate study time around their work schedule.
FRM Part 2:
Part-time students often need 9 to 12 months to prepare for Part 2, given its complexity and the demands of balancing study with professional responsibilities.
Example:
A working professional may take FRM Part 1 in November and sit for Part 2 the following November, completing the course in 18 to 24 months.
For Students with Prior Knowledge
Candidates with a finance or risk management background can often complete the FRM certification faster, as they may already be familiar with many of the key concepts, particularly in FRM Part 1. These candidates may require less study time and can potentially finish the certification in 9 to 15 months.
FRM Part 1:
Prior knowledge can reduce the preparation time for Part 1 to as little as 3 to 4 months.
FRM Part 2:
Even with prior knowledge, Part 2 still demands thorough preparation due to the advanced level of the content. Candidates with relevant experience may complete Part 2 in 6 months.
Retaking Exams
If a candidate fails an exam, this can extend the total time to complete the FRM certification. Since the exams are offered only twice a year (in May and November), failing an exam typically adds 6 months to the overall timeline.
Retaking FRM Part 1 or Part 2:
A candidate who fails Part 1 in May will have to wait until November to retake the exam, which may extend their timeline by an additional 6 months or more.
Work Experience and Certification Completion
To receive the FRM certification, candidates must also complete two years of relevant work experience. While this does not impact the time needed to pass the exams, it can affect the overall certification timeline for those who do not yet have the required work experience. The good news is that this work experience can be gained before, during, or after passing the exams.
Gaining work experience while studying:
Many candidates choose to gain their work experience while preparing for the FRM exams, enabling them to fulfill both the educational and experience requirements simultaneously.
Post-exam work experience:
If candidates need to gain the two years of work experience after passing both parts of the FRM exams, this could add additional time to achieving the full FRM certification, though they would still have the knowledge and skills gained from passing the exams.
Summary of Estimated FRM Completion Times
| Study Mode | Estimated Completion Time | Details |
|---|---|---|
| Full-Time Students | 9 to 12 months | Can complete both parts within a year. |
| Part-Time Students | 12 to 24 months | Working professionals may take longer due to balance. |
| With Prior Knowledge | 9 to 15 months | Prior experience can shorten study time. |
| Retakes | +6 months (per failed attempt) | Each exam retake adds approximately 6 months. |
| Work Experience | Additional 2 years (if needed) | Certification requires 2 years of relevant experience. |
FRM Course Duration Comparison with Other Certifications
For finance professionals, the FRM certification is one of several options for career advancement. Other certifications like the CFA, PRM, CAIA, CPA, and ERP offer different specializations and career paths. Comparing the FRM course duration with these can help candidates choose the right certification based on their goals and time availability.
FRM vs. CFA (Chartered Financial Analyst)
The CFA (Chartered Financial Analyst) designation is a widely recognized qualification for professionals in investment banking, portfolio management, and equity research. However, the CFA demands more time than the FRM due to its comprehensive curriculum.
Course Structure and Duration:
- CFA consists of three levels, while FRM has only two parts.
- On average, candidates take 3 to 4 years to complete the CFA program, while the FRM can be completed in 1 to 2 years, depending on the candidate’s exam performance.
Study Time:
- The CFA Institute recommends approximately 300 hours of study per level, totaling 900 hours for the entire program.
- The FRM requires 350 to 450 hours of study for both parts, which is significantly less than the CFA.
For a detailed comparison of FRM vs. CFA, read- FRM vs. CFA
FRM vs. PRM (Professional Risk Manager)
Both the FRM and PRM (Professional Risk Manager) certifications cater to risk management professionals, but they differ in terms of structure and flexibility.
Course Structure and Duration:
- PRM is divided into four exams, while FRM has only two parts.
- The PRM can be completed in 1 to 2 years, similar to the FRM, but the modular structure of PRM allows more flexibility.
Study Time:
- PRM requires 250–300 hours of study for all four exams.
- The FRM covers a broader range of risk management topics, requiring 350–450 hours for both parts.
To get more in-depth understanding about the FRM vs. PRM, read- FRM vs. PRM A Detailed Comparison
FRM vs. CAIA (Chartered Alternative Investment Analyst)
The CAIA (Chartered Alternative Investment Analyst) certification is specifically for professionals in the alternative investment space, such as hedge funds, private equity, and real estate. The FRM, on the other hand, focuses on risk management.
Course Structure and Duration:
- CAIA consists of two levels, like the FRM, and can typically be completed in 12 to 18 months.
- The FRM can also be completed in 1 to 2 years, depending on the candidate’s study schedule and performance in the exams.
Study Time:
- CAIA requires 200–400 hours per level, totaling up to 400–800 hours for the entire certification.
- FRM requires around 350 to 450 hours in total for both parts, slightly less than CAIA.
FRM vs. CPA (Certified Public Accountant)
The CPA (Certified Public Accountant) certification is highly respected for accounting professionals, covering a wide range of topics related to auditing, taxation, financial reporting, and business laws. Though different in focus, it’s worth comparing the duration and structure of the CPA versus the FRM.
Course Structure and Duration:
- CPA requires candidates to pass four sections: Auditing and Attestation (AUD), Business Environment and Concepts (BEC), Financial Accounting and Reporting (FAR), and Regulation (REG).
- The average time to complete the CPA certification is typically around 18 months to 2 years, similar to the FRM timeline of 1 to 2 years.
Study Time:
- CPA candidates generally need around 300 to 400 hours of study for all four sections combined, depending on their accounting background.
- The FRM requires approximately 350 to 450 hours of study for both parts. While the CPA covers a broader range of accounting and finance topics, the FRM focuses more narrowly on risk management.
FRM vs. ERP (Energy Risk Professional)
The ERP (Energy Risk Professional) certification, also administered by GARP, focuses on risk management within the energy sector.
Course Structure and Duration:
- ERP has one comprehensive exam covering topics like energy trading, valuation, and risk.
- The ERP can be completed in 1 year, making it faster than the FRM, but its focus is on energy markets.
Study Time:
- The ERP requires 200–250 hours of study, compared to 350–450 hours for the FRM.
- The FRM provides a broader risk management education, while the ERP is specialized in energy risk.
comparison table for FRM Course Duration versus other popular finance-related certifications:
| Certification | Course Structure | Average Completion Time | Study Time Required | Focus Area |
|---|---|---|---|---|
| FRM (Financial Risk Manager) | 2 parts | 1 to 2 years | 350–450 hours | Risk Management |
| CFA (Chartered Financial Analyst) | 3 levels | 3 to 4 years | 900 hours total | Investment Banking, Portfolio Management, Equity Research |
| PRM (Professional Risk Manager) | 4 exams (modular) | 1 to 2 years | 250–300 hours | Risk Management |
| CAIA (Chartered Alternative Investment Analyst) | 2 levels | 12 to 18 months | 400–800 hours | Alternative Investments (Hedge Funds, Private Equity, Real Estate) |
| CPA (Certified Public Accountant) | 4 sections | 18 months to 2 years | 300–400 hours | Accounting, Auditing, Taxation, Financial Reporting |
| ERP (Energy Risk Professional) | 1 exam | 1 year | 200–250 hours | Energy Risk Management |
The graph shows a comparison of exam parts and completion time for various finance certifications.
Study Tips to Shorten the FRM Course Duration
The FRM certification is rigorous, and many candidates wonder how they can reduce the amount of time it takes to prepare for and pass both parts of the exam. While the typical preparation time for each part is 150–250 hours, there are several effective strategies you can use to shorten the FRM course duration while ensuring thorough preparation. Below are practical tips to help you streamline your study process, maximize efficiency, and potentially complete the certification faster.
Effective Study Planning
One of the most critical steps in shortening the FRM course duration is to create a realistic study plan. Planning helps to organize your time and focus on the most important topics, preventing last-minute cramming.
How to Create a Study Plan?:
Break Down the Syllabus:
Divide the FRM syllabus into manageable sections. Allocate time based on the weightage of each topic. For instance, dedicate more hours to areas like Market Risk, Credit Risk, and Valuation Models, which carry more weight in the exam.
Set Weekly Goals:
Assign specific topics to each week and set achievable study targets. This ensures you consistently make progress without feeling overwhelmed.
Include Time for Revision:
Plan for a few weeks at the end solely for revision and practice tests. This will help consolidate your learning and identify any weak areas that need extra attention.
Use of Exemptions
While GARP does not offer formal exemptions based on prior education, your previous experience or academic background can help you reduce study time for certain topics. If you have a strong foundation in areas like quantitative analysis or financial markets, you may need less time to study these sections.
How to Use Your Background to Your Advantage?:
Leverage Prior Knowledge:
If you have previously studied finance, economics, or risk management, focus more on the areas you are unfamiliar with, and skim through the sections where you already have strong knowledge.
Skip Redundant Study Material:
Use practice questions to quickly gauge your understanding of familiar topics. If you perform well, move on to more challenging areas rather than spending time on material you already know.
Efficient Use of Study Resources
Choosing the right study materials can make a huge difference in how efficiently you prepare for the FRM exam. Investing in high-quality resources will help you grasp concepts faster and reduce time spent searching for supplemental information.
Key Resources to Maximize Study Efficiency:
FRM Prep Courses:
Enroll in well-structured FRM prep courses that offer concise explanations and focus on exam-relevant topics. These can provide shortcuts to understanding difficult concepts that might take longer to learn through self-study.
Practice Exams:
Use FRM practice exams and mock tests to regularly assess your knowledge. These simulate the actual exam environment and help you identify your weak points quickly, allowing you to focus your efforts on areas where improvement is needed.
Study Guides and Summaries:
Study guides and summary notes distill key points from lengthy textbooks, helping you review faster without sacrificing comprehension.
Taking Both Parts in One Year
A common strategy for candidates aiming to complete the FRM certification quickly is to take both Part 1 and Part 2 in the same year. This requires careful planning and disciplined study habits but is entirely achievable with the right approach.
How to Take Both Parts in One Year?:
Study Continuously:
Begin preparing for Part 1 about 5–6 months before the May exam, aiming to complete the first part in the May window. Once Part 1 is completed, immediately start studying for Part 2 with an additional 5–6 months of preparation for the November exam.
Focus on Overlapping Topics:
Many of the concepts in FRM Part 1 are foundational to Part 2. Make note of these overlapping areas, as the preparation for Part 1 will reduce the amount of new material you need to learn for Part 2.
Double Your Weekly Study Hours:
To ensure you are adequately prepared for both parts in one year, aim to study 15–20 hours per week. Increasing your study hours will help you cover all necessary material in time for both exams.
Gaining Work Experience Concurrently
The FRM certification requires candidates to have 2 years of relevant work experience in risk management. By gaining this work experience concurrently while studying, you can fulfill the practical experience requirement without extending the overall duration of earning the certification.
How to Gain Work Experience Concurrently?:
Apply for Risk Management Roles:
If you are currently working in a different field, consider transitioning to a risk management role while studying for the FRM exam. This will not only allow you to meet the work experience requirement but also reinforce your understanding of the material.
Leverage Your Current Role:
If you are already in a related field such as finance or operations, identify ways in which your current role overlaps with risk management and document relevant tasks and projects to count toward your work experience requirement.
Time Management Techniques
Effective time management is key to shortening the FRM course duration. Developing strong time management skills will help you balance work, study, and personal life more efficiently.
Best Practices for Time Management:
Use Time Blocks:
Break your day into specific time blocks for studying, work, and relaxation. Sticking to dedicated study blocks will help you maintain focus and avoid procrastination.
Prioritize High-Impact Topics:
Focus on the topics that carry the most weight in the exam. Use the GARP syllabus to identify high-impact areas, such as Market Risk and Credit Risk, and allocate more time to these.
Take Short Breaks:
Using techniques like the Pomodoro Technique (study for 25 minutes, take a 5-minute break) can improve focus and prevent burnout, enabling you to study more efficiently.
Conclusion
The FRM certification is a highly respected credential in the field of risk management, and while it requires significant time and effort, there are strategies you can adopt to complete it faster. On average, candidates take 1 to 2 years to finish both FRM Part 1 and Part 2, but with effective study planning, the use of high-quality resources, and smart time management, you can shorten this timeline. Whether you choose to take both parts in the same year or leverage your work experience concurrently, staying disciplined and focused will be key to your success.
All of the study tips highlighted in this blog including the establishment of study schedule, utilization of efficient resources and gaining relevant work experience thus provide you with a means of accelerating your journey towards acquiring FRM certification. Not only will you gain valuable risk management skills, but you’re also going to be setting yourself up for many great career prospects in finance, banking and investment business.
Remember, the path to FRM certification may be challenging, but with the right approach, you can achieve your goals faster and build a rewarding career in risk management.
Frequently Asked Questions
Most candidates complete the FRM certification in 1 to 2 years, depending on their study schedule and whether they pass both parts on the first attempt.
Yes, many candidates take Part 1 in May and Part 2 in November, completing both parts within one year with proper preparation.
On average, candidates spend 150–200 hours studying for FRM Part 1 and 200–250 hours for FRM Part 2.
Yes, by creating a structured study plan, using high-quality resources, and potentially taking both parts in the same year, you can shorten the course duration.
What is the maximum time allowed to complete both parts of the FRM exam?
