This page tracks every published FRM exam window, registration deadline, and fee for 2026 and 2027 in one place — verified against GARP's official exam logistics page and refreshed after every cycle. Bookmark it: dates below change only when GARP publishes new ones. GARP has now published its full 2027 calendar, listed below.
FRM Exam Windows: 2026 and 2027 Calendar
The May and August 2026 windows are done, which leaves one window this year. Your exact exam day inside a window depends on the slot you book in the PSI scheduler — seats are first-come, first-served, so early registrants get the best pick of date and city.
| Window | Part 1 | Part 2 | Window format |
|---|---|---|---|
| Aug 2026 | 7–8 Aug (morning session) | 7–8 Aug (afternoon session) | Compressed — both parts on the same two days |
| Nov 2026 | 14–20 Nov | 21–25 Nov | Standard multi-day window |
| May 2027 | 8–13 May | 15–17 May | Standard multi-day window |
| Aug 2027 | 13–14 Aug (morning session) | 13–14 Aug (afternoon session) | Compressed — both parts on the same two days |
| Nov 2027 | 13–18 Nov | 20–22 Nov | Standard multi-day window |
Note the odd one out: August is a compressed window — two days, Part 1 in the morning session and Part 2 in the afternoon of the same day. May and November spread each part across a multi-day range instead. Don't generalise from one window's format when you plan leave from work.
New to the exam? Before you lock a window, see what FRM Part 1 actually covers — the syllabus decides your prep runway more than the calendar does.
Registration Deadlines for Each Window
Every window has five dates that matter: when registration opens, the early-registration deadline (USD 600 per part), the standard deadline (USD 800 per part) — after which registration closes entirely — and the scheduling and deferral cut-offs. All GARP deadlines are 11:59 pm ET, and your registration only counts if payment reaches GARP by the cutoff.
| Window | Registration opens | Early deadline | Standard (final) deadline | Scheduling deadline | Deferral deadline |
|---|---|---|---|---|---|
| Aug 2026 | 1 Mar 2026 | 30 Apr 2026 ✕ | 30 Jun 2026 ✕ | 25 Jul 2026 ✕ | 30 Jun 2026 ✕ |
| Nov 2026 | 1 May 2026 | 31 Jul 2026 ✕ | 30 Sep 2026 ✕ | 24 Oct 2026 ✕ | 30 Sep 2026 ✕ |
| May 2027 | 1 Dec 2026 | 31 Jan 2027 | 31 Mar 2027 | 23 Apr 2027 | 31 Mar 2027 |
| Aug 2027 | 1 Mar 2027 | 30 Apr 2027 | 30 Jun 2027 | 30 Jul 2027 | 30 Jun 2027 |
| Nov 2027 | 1 May 2027 | 31 Jul 2027 | 29 Oct 2027 | 29 Oct 2027 | 30 Sep 2027 |
✕ = already passed. The scheduling deadline is the last day to book (or move) your exam-slot appointment in the PSI scheduler for that window.
FRM Exam Fees in 2026
GARP's fee structure is simpler than most candidates expect — one enrollment fee, one exam fee per part, and a couple of avoidable extras. All figures below are from GARP's official fees & payments page.
- Enrollment fee: USD 400, one-time. Charged only with your first-ever Part 1 registration — you never pay it again, not even for Part 2.
- Early registration: USD 600 per part.
- Standard registration: USD 800 per part.
- Deferral fee: USD 250 — moves you to a later window (rules below).
- GARP Individual Membership: USD 195/year — optional. It is not required to sit the exam, and your first year comes complimentary with a first-time FRM registration.
- Wire/ACH payment surcharge: USD 50. Pay by card and skip it.
What both parts actually cost: register early for each and the whole exam journey is USD 1,600 (400 enrollment + 600 + 600). Register standard both times and it's USD 2,000 (400 + 800 + 800). Same exams, same certificate — USD 400 extra for missing two deadlines.
Weighing that spend against the payoff? See what FRM-certified professionals earn in India — the fee maths looks very different next to the first post-certification increment.
Exam Format & Test Centers (Including India)
Both parts are computer-based, multiple-choice exams delivered at PSI test centers worldwide (ATA centers cover mainland China, Hong Kong and Thailand). One stale fact to unlearn: GARP no longer uses Pearson VUE — a lot of older articles and forum posts still say it does. Any FRM content citing Pearson VUE is out of date.
- Part 1: 100 equally weighted multiple-choice questions · 4 hours.
- Part 2: 80 equally weighted multiple-choice questions · 4 hours.
- Calculators — only these models are allowed: TI BA II Plus (including Professional), HP 12C (including Platinum and Anniversary editions), HP 10B II, HP 10BII+, HP 20B. Bring one you've drilled with; exam day is not the day to learn new keystrokes.
India test centers: GARP publishes no fixed city list. Real seat availability appears only in the PSI scheduler once you register — first-come, first-served. Prep-provider lists typically cite Mumbai, Delhi NCR, Bengaluru, Chennai, Hyderabad, Kolkata, Pune and Ahmedabad, but treat those as unofficial: confirm your city inside the PSI scheduler before you assume anything. If you're outside a metro, register and schedule early — late bookers sometimes end up travelling to a different city.
Missed Your Window? The Deferral Rules
GARP allows one deferral only, to one of the next two exam administrations, for a USD 250 processing fee. You must request it by that window's deferral deadline — 31 March 2027 for the May 2027 window (the November 2026 deadline, 30 September, has passed). Two catches candidates miss: your original fees are not refunded — deferral is the only exit — and after deferring you must re-book your own exam appointment in the scheduler for the new window. It does not carry over automatically.
Which Window Should You Pick?
Work backwards from study hours, not forward from enthusiasm. A sensible rule of thumb is around 240 hours of preparation per part. At 12–15 hours a week, that's roughly four to five months for one part — so pick the window at least that far from the day you'll actually start studying, then register early for the fee saving and the seat choice.
Where that leaves you as of November 2026: November 2026 registration is closed, so May 2027 is the live option — a comfortable runway for Part 1 if you start now, tight but possible for both parts. GARP has published its registration dates: registration opens 1 December 2026, the early rate runs until 31 January 2027, and the final deadline is 31 March 2027. Part 1 runs 8–13 May 2027 and Part 2 runs 15–17 May 2027. Still weighing the certification itself? Read whether FRM is worth it and the historical pass-rate data first — and if your real dilemma is FRM vs CFA, our CFA exam dates hub tracks that calendar the same way this page tracks GARP's.
FRM Exam Dates: Frequently Asked Questions
Three times a year — May, August and November — and both Part 1 and Part 2 are offered in every window. In 2026 the remaining window is November (Part 1: 14–20 November, Part 2: 21–25 November). GARP has published the 2027 dates: May 2027 (Part 1: 8–13 May, Part 2: 15–17 May), August 2027 (both parts on 13–14 August) and November 2027 (Part 1: 13–18 November, Part 2: 20–22 November).
The next window is November 2026: Part 1 runs 14–20 November and Part 2 runs 21–25 November — though registration for it has closed. The next window you can still register for is May 2027 (Part 1: 8–13 May, Part 2: 15–17 May): registration opens 1 December 2026, with early registration open until 31 January 2027. Indian candidates sit the same global windows; city options appear in the PSI scheduler when you book.
A one-time USD 400 enrollment fee (charged with your first Part 1 registration) plus USD 600 per part with early registration or USD 800 standard. Both parts together cost USD 1,600 if you register early both times, versus USD 2,000 at standard pricing. Deferring a window costs USD 250, wire/ACH payments carry a USD 50 surcharge, and GARP membership is optional at USD 195/year — with the first year complimentary for first-time registrants.
Yes — every window offers both parts, and the August window even runs Part 1 in the morning and Part 2 in the afternoon of the same day. Most candidates still split the parts across two windows: at roughly 240 study hours per part, preparing for both at once is a heavy load alongside a full-time job.
You can defer once, to one of the next two exam administrations, for a USD 250 fee — but only if you apply by that window's deferral deadline (31 March 2027 for the May 2027 window). Your original fees are not refunded, and after deferring you must re-book your own exam appointment in the PSI scheduler for the new window.
GARP has published all three 2027 windows (checked November 2026). May 2027: Part 1 runs 8–13 May and Part 2 runs 15–17 May; registration opens 1 December 2026, the early deadline is 31 January 2027 and the final deadline is 31 March 2027. August 2027: both parts on 13–14 August; registration runs 1 March to 30 June 2027, early until 30 April. November 2027: Part 1 runs 13–18 November and Part 2 runs 20–22 November; registration runs 1 May to 29 October 2027, early until 31 July.
