1. Structure
FRM Part 1 consists of four topics which are mandatory and examined by computer based testing, multiple choice exam. The exam has 100 equally weighted questions and you have four hours to complete the exam.
Entry requirements
There are no formal requirements needed to study FRM, but you are expected to have good mathematical and English skills.
Syllabus
Below is a syllabus overview detailing topics and their approximate exam weighting. For more information, please visit the GARP website launch.
| Part 1 |
Approximate exam weight |
| Foundations of Risk Management |
20% |
| Quantitative Analysis |
20% |
| Financial Markets and Products |
30% |
| Valuation and Risk Models |
30% |
Foundations of Risk Management
This area focuses on your knowledge of foundational concepts of risk management and how risk management can add value to an organisation. Topics include basic risk types, measurement and management tools, creating value with risk management, the role of risk management in corporate governance, Enterprise Risk Management (ERM), financial disasters and risk management failures, the Capital Asset Pricing Model (CAPM), risk-adjusted performance measurement, multifactor models, data aggregation and risk reporting, ethics and the Global Association of Risk Professionals (GARP®) Code of Conduct.
Quantitative Analysis
This area tests your knowledge of basic probability and statistics, regression and time series analysis, and various quantitative techniques useful in risk management. Topics include discrete and continuous probability distributions, estimating the parameters of distributions, population and sample statistics, Bayesian analysis, statistical inference and hypothesis testing, estimating correlation and volatility using EWMA and GARCH models, volatility term structures, correlations and copulas, linear regression with single and multiple regressors, time series analysis and forecasting and simulation methods.
Financial Markets and Products
This area tests your knowledge of financial products and the markets in which they trade. Topics include structures and functions of financial institutions, the structure and mechanics of OTC and exchange markets, the structure, mechanics, and valuation of forwards, futures, swaps, and options, hedging with derivatives, interest rates and measures of interest rate sensitivity, foreign exchange risk, corporate bonds and mortgage-backed securities.
Valuation and Risk Models
This area will test your knowledge of valuation techniques and risk models such as Value-at-Risk (VaR), expected shortfall (ES), stress testing and scenario analysis, option valuation, fixed income valuation, hedging, country and sovereign risk models and management, external and internal credit ratings, expected and unexpected losses and operational risk.
Select your package
2. Study packages
Our study methods have been designed to maximise your time and help you pass your exam. Whichever study method you choose, you’ll receive high quality resources and continuous support right up to your exam.
Simply choose a study package below:
grid_onStudy method comparison table
Package combining OnDemand tuition and classroom revision study options with Kaplan Schweser study materials.
£1,447.00
(£1,296.00 excl. VAT)
Buy now
- 15 OnDemand classes with intensive tuition and course slides
- Access to module quizzes, problem solving techniques and sample exam questions.
- Get exam confident with a three day classroom revision course using MindMaps and Q&A Books
- You’ll have access to hundreds of exam standard questions
- With Schweser's Secret Sauce®, you'll get lots of exam tips on how to prepare and apply your knowledge on exam day.
The FRM exams can be tough, but if you don’t pass, everything’s not lost. With Kaplan’s Pass Protectionlaunch you can attend our revision course for free until you pass your exam, and you may be eligible to receive the same material package for the next exam sitting for free. T&C’s apply.
We also offer a range of optional extras to assist you in preparing for your exam, these range from online mock exams, 1-2-1 tutor sessions, and the official calculator. These are the only items that would add cost to your package but they are great value for money.
laptop
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Distance Learning
Study at your own pace with OnDemand tuition and OnDemand revision classes. This package offers maximum flexibility for independent study and comes with integrated Kaplan Schweser study materials.
local_offer 20% off
£564.00
£705.00
(VAT not applicable)
Buy now
- 15 OnDemand classes with intensive tuition and course slides
- Tuition is spread across 10 evenings.
- Get exam confident with 8 hours of OnDemand revision
- Access to hundreds of exam standard questions
- With Schweser's Secret Sauce®, you'll get lots of exam tips on how to prepare and apply your knowledge on exam day.
The FRM exams can be tough, but if you don’t pass, everything’s not lost. With Kaplan’s Pass Protectionlaunch you may be eligible to receive the same material package for the next exam sitting for free. T&C’s apply.
We also offer a range of optional extras to assist you in preparing for your exam, these range from online mock exams, 1-2-1 tutor sessions, and the official calculator. These are the only items that would add cost to your package but they are great value for money.
Or you can choose a revision classroom course without the supporting Kaplan Schweser study materials.
Classroom revision without the Kaplan Schweser study materials.
£906.00
(£755.00 excl. VAT)
Buy now
Timetables - Classroom and Live Online
OnDemand tuition classes take place over 15 sessions. Classroom revision courses take place over 3 days (from 9-5pm).
date_rangeView timetable
Optional extras
Although we have designed our packages to include key items to assist you in preparing for your exam, there are additional items that you may choose to purchase:
Optional
Schweser Mock Exam 3 and 4
The Online Schweser Mock Exam is as close as you can get to the actual exam in format, difficulty, and length. With our new simulation, it will help to develop your test-taking, identify your weak areas as well as giving you a real exam experience. After the simulation, you can view answer explanations and check your score compared to those of other candidates.
from £50.00 per exam
(VAT not applicable)
Optional
1-2-1 tutor sessions
A one hour 1-2-1 meeting with your tutor, either at our training location or online, within the last two weeks leading up to your exam. You can get your final questions answered before the exam day.
£90.00
(£75.00 excl. VAT)
Optional
Calculator (BA II Plus Pro)
There are only certain business calculators authorised for use during your exam. We recommend the Texas Instruments BA II Plus Professional.
£60.00
Including UK delivery
(£50.00 excl. VAT)
Inhouse training
Our public classroom courses run in central London. Like many of our courses, we can also offer these courses inhouse for your team or organisation. Please contact us on 020 7920 3060 or email us at
citybookings@kaplan.co.uk to find out more about how we can help train your team.
3. Exams, sittings and resits
Exams
There are two exam sittings per year, in May and November. You'll need to make sure that you register with GARP® launch for exam entry. Please note, you can take both Part 1 and Part 2 exams in one day, but you need to pass Part 1 before your Part 2 paper is graded. Exam results are either pass or fail, and you’ll receive your results within six weeks after the exam.
You are required to pass Part 2 within four years of passing Part 1.
How long does it take to pass?
On average, candidates spend approximately 240 hours preparing for Part 1, but individuals with limited prior experience of the Part 1 topics should expect to spend more hours mastering the syllabus. You’ll also need to demonstrate two years of
relevant work experience to complete your certification.
What are pass rates like?
Passing Part 1 of the exam takes dedication and commitment. GARP reported the May 2021 pass rate as 43%.
What FRM resits are available
We do everything we can to help you pass your FRM exam first time. However, should you need a second chance, then don’t worry. With Pass Protection, there are lots of ways we can support you as you prepare for your exam resit. For further information, please refer to our pass protection policy launch.
You can access your resit support by filling in the resit enrolment form.
picture_as_pdfResit enrolment form
4. Study materials and delivery costs
Study materials
We offer a wealth of study materials to enhance your learning experience. These include hard copy books as well as online resources on Schweser’s study portal. View a full comparison of the study materials launch included in each package.
Blended and Distance Learning packages come with core materials, including:
-
Getting Started Guide
Explains how to use the resources effectively to maximise your chance of passing the exam.
-
Schweser Online Study Portal
Includes dashboard with activity feed and performance metrics
-
SchweserNotes™
Clear, concise study notes and examples that cover every learning outcome statement (downloadable as eBooks as well as in print).
-
Schweser Secret Sauce
This is a concise review of the curriculum which provides insights and exam tips on how to effectively prepare and apply your knowledge on exam day.
-
OnDemand Tuition Slides
A copy of the OnDemand Tuition slides to help with your OnDemand sessions.
-
Quicksheet
A compact study tool summarising key formulae, definitions and concepts (downloadable as an eBook as well as in print).
-
Resource Library
A collection of online reference videos to prepare you for your studies.
-
SchweserPro™ QBank
Hundreds of practice questions to work through online and build custom exams.
-
Schweser Checkpoint Exams
Two key tests that you will be prompted to work through online during your studies. These mimic the difficulty and format of the actual exam. Performance reports then highlight your understanding and weak areas where more review is needed.
-
Schweser Online Mock Exam 1 – 2
Practice taking the computer-based test before exam day with the online Schweser mock exam. This realistic exam simulates the interface, format, difficulty, and length of the actual FRM exam.
Additional materials come with the Blended package:
- Classroom Revision Materials - MindMap and Q&A Book
Delivery costs
Materials are delivered to the address you provide us (and must be signed for on delivery). For detailed information on delivery prices please refer to our delivery page.
5. Kaplan Schweser Online Study Portal
Kaplan Schweser’s online portal provides access to a wide variety of resources to help you prepare for your exams.
Online Features
Depending on the study package you choose, features can include the following:
- View your online materials in one place and access your content in a few clicks
- Take the guesswork out of your study plan with strategically placed weekly tasks
- Track your performance against that of other candidates
- Complete tests and get instant feedback
- Access on mobile, tablet and computer
For more information on technical support available and minimum system requirements for Kaplan Schweser’s online portal, visit the Schweser portal technical supportlaunch.
Access duration
You can access your content from 48 working hours of purchase (subject to availability) until your examination date.
6. Tutor support
We’ll support you every step of the way throughout your learning experience with us. You can contact a tutor and get the help you need within 48 working hours.
We are open weekdays (excluding bank holidays) 9:00am to 5.30pm. In addition, our classroom tutors will provide you with their personal contact details.
7. Testing and mocks
Vital to passing your exam will be attempting as many questions and mocks as possible. Depending on your chosen package, you will gain:
As well as the material included in your study package we also have another two additional Schweser mocks. These can be purchased with your study package or when you get closer to your revision stage.
Additional Schweser Online Mocks
You can now practice the computer-based test before your exam by using the Online Schweser Mock Exam. It’s a realistic exam that simulates the interface, format, difficulty, and length of the exam. It’ll help you develop your test-taking skills, identify your weak areas, and show you just how much you’ve learnt. After taking the mock exam, you can see how well you scored and compare your score to other candidates. You can review answer explanations and drill deeper into each question with the addition of our mock exam tutorial videos.
After the mock, many candidates also take the opportunity of a final 1-2-1 meeting with a tutor. You can find information about our mocks and 1-2-1s in our comparison table launch.
8. Course pricing and funding options
Pricing structure
Below are our study package prices. The only additional costs will be delivery and if you decide to purchase any optional extras.
You can find information about our packages and optional extras in our comparison table launch.
| Package |
Price (excl. VAT) |
Price (incl. VAT) |
| Blended |
£1,296 |
£1,447 |
| Distance Learning |
£564 £705 (VAT not applicable) |
| Revision only |
£755 |
£906 |
Funding options
Your employer may fund the costs of your studies if you’re already working in a related field and want to develop your learning. You’ll need to speak to them to see if you’re eligible and confirm that they’re happy to pay for your studies.
Our FRM packages are covered with our interest-free payment plan, providing the total cost is £500 minimum (including VAT). The plan lets you spread the cost of your studies over a period of up to 12 months, with no extra costs.
How to enrol
Enrol online, call us on 020 7920 3060 or enrol with a form which you can email to citybookings@kaplan.co.uk.
picture_as_pdfDownload enrolment form