A complete guide to the FRM course in India, covering who can enrol, the two exam parts, topics, costs and risk management careers.

The Financial Risk Manager (FRM) credential, awarded by the Global Association of Risk Professionals (GARP), is one of the best-known qualifications in financial risk management. If you are drawn to risk, the FRM course deserves a close look.

What is the FRM?

The FRM focuses on identifying, measuring and managing risk in financial institutions and corporates, including market, credit, operational and liquidity risk.

Eligibility

GARP has generally allowed anyone to register for the exams, with certification requiring relevant work experience . Many candidates have a degree in finance, commerce, economics, engineering or mathematics.

Exam structure

The FRM has two parts, Part I and Part II 

  • Part I typically covers foundations of risk management, quantitative analysis, financial markets and products, and valuation and risk models.
  • Part II typically covers market risk, credit risk, operational risk and resilience, liquidity and treasury risk, risk management and investment management, and current issues in financial markets.

Topics are revised periodically, so check GARP's current syllabus.

Preparation time

GARP recommends substantial study hours per part. Many candidates plan several months for each part.

Fees

Costs include enrolment, exam registration, study material and optional coaching, usually quoted in US dollars.

Career scope

Risk analyst or manager, credit risk, market risk, operational risk, model validation, treasury and compliance roles in banks, asset managers, insurers, consulting firms and corporates. Outcomes depend on experience and employer

Who should take it

  • Graduates drawn to quantitative and risk work
  • Bankers and analysts who want a risk specialisation
  • Professionals in treasury, audit or compliance

FRM vs CFA

FRM focuses on risk management, while CFA focuses on investment analysis and portfolio management. Choose based on your target career.

Skills to build alongside

Excel, statistics, basic coding and financial modeling help with risk analysis.

How to prepare

  1. Study the syllabus topic by topic.
  2. Practise questions regularly.
  3. Take timed mocks before the exam.
  4. Review weak areas and quantitative methods.

TWSS option

TWSS lists FRM among its finance programmes 

Considering the FRM course? Speak to a TWSS counsellor.