What are the FRM Exam changes in 2021?

GARP has announced new dates, a new exam format and registration fees for the FRM exam in 2021.

Exam date changes

New exam dates as announced by GARP for FRM part I are as follows;

• May 8^th to 21^st 2021
• July 10^th to 23^rd 2021
• November 13^th to 26^th 2021

The new exam dates for FRM part II are as follows;

• May 15^th 2021
• December 4^th to 10^th 2021

FRM Exam format changes in 2021

GARP has announced that the part I FRM exam in May, July, and November will be computer-based. Additionally, the exam will comprise 100 multiple-choice questions.

Part II of the FRM exam will be paper and pencil during the May window and computer-based in December. Part II will feature 80 questions. However, the duration of both parts will remains four hours.

Registration fee changes

There is an additional $400 enrollment fee for new students, and early registration is $550, while standard registration is $750. Early registration for returning candidates is $550 and $750 for standard registration in parts I and II.  You should register by July 31st, 2021, to qualify for early registration.

Core FRM exam topics in 2021

The 2021 FRM topics for part I mirror the changes made to the curriculum in 2020 and features 60 readings. In addition, the learning objectives depend on content written by GRAP SMEs to ensure effectiveness.

FRM part I weights are;

• Financial markets and products (30%) will test your understanding of different financial products and their trading markets.
• Valuation and risk models (30) will test your understanding of various valuation techniques and different risk models.
• Foundations of risk management (20%) focus on your knowledge of the foundation concepts of risk management and how it adds value to an organization.
• Quantitative analysis (20%) tests your knowledge of basic quantitative techniques vital in risk management and understanding basic probability and statistics, regression, and time series analysis.

FRM part II curriculum has 101 readings. The core topics and their weights are as follows;

• Market risk management (20%) will test your knowledge of market risk measurement and different management techniques.
• Credit risk management (20%). This part of the exam will test your knowledge of structured finance and credit products and default risk measurement.
• Operational and integrated risk management (20%) will test how well you understand operating and integrated risk management.
• Risk management and investment risk management (15%). This part of the exam will test your understanding of different risk management techniques used during investment process management.
• Liquidity and treasury risk measurement and management (15%) will test your understanding of various treasury and liquidity risk management systems.
• Current affairs in financial markets (10%) will test your in-depth knowledge of all the other sections and how you can apply it critically in real situations.

Additional study guides from GARP

You can access additional study guides on the GARP website to help you understand 2021 updates to the FRM exam dates, format, and registration fees.

How do I schedule my CBT FRM exam?

The first step in scheduling your CBT FRM exam is to log into your GARP account or create an account if you do not have one. You are required to pay your registration fees before scheduling an exam.

After successfully logging into your account, click on the “exam set up” button to schedule your exam. You are allowed to reschedule your exam once. If you choose to defer your exam to the next available sitting, go to “My Programs” on your student account, then click on the Exam set-up button. You can only defer your exams once for a $200 fee, and you should do so by March 31^st for May/July series and September 30th for the November/December sitting.

If you fail to schedule your exam or do not take your exam after scheduling, GARP requires you to register again and pay the full exam fee.

How do I prepare for the computer-based FRM exam?

To prepare for the computer-based exam, you should ensure that you have in-depth knowledge of the FRM concepts. Start your studies as soon as you register for the exam and dedicate at least 240 hours over a few months. Please pay close attention to the core topics and their weights to give structure to your study schedule and make the most of the time.

Enrolling in the AnalystPrep.com FRM study packages will help you prepare for the exam with expert help and sample questions to practice for the exam. Sample questions and mock exams will help you with time management during the main exam. You should spend an average of 3 minutes on each question.

You should ensure that you are comfortable working with your calculator by practicing using it and ensure that you configured it correctly. It is essential to familiarize yourself with the exam tool features. It would be best if you understood how the computer-based exam works before your scheduled test day.

Contact us at Analystprep.com to start your journey to attain your FRM designation. Our team of experts offers all-day support to help you through any challenges and mentor you to pass your exams.