{"id":12193,"date":"2025-12-05T10:32:00","date_gmt":"2025-12-05T10:32:00","guid":{"rendered":"https:\/\/analystprep.com\/blog\/?p=12193"},"modified":"2026-01-15T15:53:35","modified_gmt":"2026-01-15T15:53:35","slug":"frm-curriculum-changes-2025-2026","status":"publish","type":"post","link":"https:\/\/analystprep.com\/blog\/frm-curriculum-changes-2025-2026\/","title":{"rendered":"FRM\u00ae Curriculum &amp; Syllabus Changes 2026 (What\u2019s New, Updated, or Removed)"},"content":{"rendered":"\n<script type=\"application\/ld+json\">\n{\n  \"@context\": \"https:\/\/schema.org\",\n  \"@type\": \"VideoObject\",\n\n  \"name\": \"Study Materials for FRM Exams\",\n\n  \"description\": \"For FRM (Part I & Part II) video lessons, study notes, question banks, mock exams, and formula sheets covering all chapters of the FRM syllabus, click on the following link.\",\n\n  \"uploadDate\": \"2021-07-14\",\n\n  \"thumbnailUrl\": \"https:\/\/img.youtube.com\/vi\/9oHwR4gkDAA\/maxresdefault.jpg\",\n\n  \"contentUrl\": \"https:\/\/www.youtube.com\/watch?v=9oHwR4gkDAA\",\n\n  \"embedUrl\": \"https:\/\/www.youtube.com\/embed\/9oHwR4gkDAA?si=zP37q5C3JZy1oOEn\",\n\n  \"duration\": \"PT1M20S\"\n}\n<\/script>\n\n<script type=\"application\/ld+json\">\n{\n  \"@context\": \"https:\/\/schema.org\",\n  \"@type\": \"ImageObject\",\n  \"url\": \"https:\/\/analystprep.com\/blog\/wp-content\/uploads\/2025\/02\/image.jpg\",\n  \"caption\": \"FRM Part I 2026 Time Series Update\",\n  \"width\": 576,\n  \"height\": 865,\n  \"copyrightNotice\": \"\u00a9 2024 AnalystPrep\",\n  \"acquireLicensePage\": \"https:\/\/analystprep.com\/license-info\",\n  \"creditText\": \"AnalystPrep Design Team\",\n  \"creator\": {\n    \"@type\": \"Organization\",\n    \"name\": \"AnalystPrep\"\n  }\n}\n<\/script>\n\n<script type=\"application\/ld+json\">\n{\n  \"@context\": \"https:\/\/schema.org\",\n  \"@type\": \"ImageObject\",\n  \"url\": \"https:\/\/analystprep.com\/blog\/wp-content\/uploads\/2025\/02\/image.jpg\",\n  \"caption\": \"FRM Part I 2026 Time Series Update\",\n  \"width\": 576,\n  \"height\": 865,\n  \"copyrightNotice\": \"\u00a9 2024 AnalystPrep\",\n  \"acquireLicensePage\": \"https:\/\/analystprep.com\/license-info\",\n  \"creditText\": \"AnalystPrep Design Team\",\n  \"creator\": {\n    \"@type\": \"Organization\",\n    \"name\": \"AnalystPrep\"\n  }\n}\n<\/script>\n\n<script type=\"application\/ld+json\">\n{\n  \"@context\": \"https:\/\/schema.org\",\n  \"@type\": \"FAQPage\",\n  \"mainEntity\": [\n    {\n      \"@type\": \"Question\",\n      \"name\": \"What are the main FRM curriculum changes for 2025\u20132026?\",\n      \"acceptedAnswer\": {\n        \"@type\": \"Answer\",\n        \"text\": \"The 2025\u20132026 FRM curriculum updates focus on refreshing time series content, rebalancing emphasis across key topics, and updating readings to better reflect current risk management practices. Some older, less-tested material has been trimmed while diagnostics, practical applications, and new examples have been added.\"\n      }\n    },\n    {\n      \"@type\": \"Question\",\n      \"name\": \"Did GARP change topic weights for FRM Part I in 2026?\",\n      \"acceptedAnswer\": {\n        \"@type\": \"Answer\",\n        \"text\": \"Yes, there are small adjustments to the effective weight of certain readings within existing topics, although the published headline topic weights remain broadly similar. Candidates should pay close attention to revised learning objectives and any sections that GARP has flagged as new or significantly updated.\"\n      }\n    },\n    {\n      \"@type\": \"Question\",\n      \"name\": \"Are there new readings or chapters added for FRM Part II 2026?\",\n      \"acceptedAnswer\": {\n        \"@type\": \"Answer\",\n        \"text\": \"For 2026, several FRM Part II readings have been updated or replaced to better align with current industry practices in areas such as credit risk, market risk, and operational risk. A few new readings have been introduced while some dated chapters have been removed from the syllabus.\"\n      }\n    },\n    {\n      \"@type\": \"Question\",\n      \"name\": \"Do I need to buy new FRM study materials for the 2026 exams?\",\n      \"acceptedAnswer\": {\n        \"@type\": \"Answer\",\n        \"text\": \"If you are sitting for the FRM exam in 2026, you should use materials that match the 2026 curriculum. Older notes and question banks can still help for core concepts, but they may not cover new readings, updated time series content, or reworded learning objectives in sufficient detail.\"\n      }\n    },\n    {\n      \"@type\": \"Question\",\n      \"name\": \"How do the 2026 FRM changes affect candidates who postponed from 2025?\",\n      \"acceptedAnswer\": {\n        \"@type\": \"Answer\",\n        \"text\": \"Candidates who planned for the 2025 syllabus but postponed to 2026 will need to review the updated study guide and close any gaps, especially in new or revised readings. Most foundational concepts remain the same, but time series, diagnostics, and certain risk management applications have shifted focus.\"\n      }\n    },\n    {\n      \"@type\": \"Question\",\n      \"name\": \"Is the FRM exam expected to be harder after the 2026 syllabus updates?\",\n      \"acceptedAnswer\": {\n        \"@type\": \"Answer\",\n        \"text\": \"The overall difficulty level is similar, but the exam is expected to test understanding and application more than memorization. With greater emphasis on diagnostics, stationarity, and realistic risk management scenarios, candidates who focus on concept mastery rather than rote learning should be well positioned.\"\n      }\n    }\n  ]\n}\n<\/script>\n\n\n\n<p>Are you planning to take the <a href=\"https:\/\/www.garp.org\/frm\">Financial Risk Manager (FRM) exam<\/a>? Smart move. But here\u2019s the thing: the FRM syllabus evolves every year and staying ahead of the changes is critical if you want to pass on the first attempt.<\/p>\n\n\n\n<p>In this guide, we break down the 2026 FRM curriculum changes, highlight the key updates and explain exactly what they mean for your preparation strategy.<\/p>\n\n\n\n<p>Regardless of whether you\u2019re tackling <a href=\"https:\/\/analystprep.com\/frm-part-1\/\">FRM Part 1<\/a> or <a href=\"https:\/\/analystprep.com\/frm-part-2\/\">Part 2<\/a>, this is your go-to FRM curriculum hub. We offer you actionable insights, detailed topic analysis and resources to help you study smarter, not harder.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1536\" height=\"864\" src=\"https:\/\/analystprep.com\/blog\/wp-content\/uploads\/2025\/12\/ChatGPT-Image-Dec-17-2025-07_02_41-PM-edited.png\" alt=\"\" class=\"wp-image-13549\" srcset=\"https:\/\/analystprep.com\/blog\/wp-content\/uploads\/2025\/12\/ChatGPT-Image-Dec-17-2025-07_02_41-PM-edited.png 1536w, https:\/\/analystprep.com\/blog\/wp-content\/uploads\/2025\/12\/ChatGPT-Image-Dec-17-2025-07_02_41-PM-edited-300x169.png 300w, https:\/\/analystprep.com\/blog\/wp-content\/uploads\/2025\/12\/ChatGPT-Image-Dec-17-2025-07_02_41-PM-edited-1024x576.png 1024w, https:\/\/analystprep.com\/blog\/wp-content\/uploads\/2025\/12\/ChatGPT-Image-Dec-17-2025-07_02_41-PM-edited-400x225.png 400w\" sizes=\"auto, (max-width: 1536px) 100vw, 1536px\" \/><\/figure>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_80 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/analystprep.com\/blog\/frm-curriculum-changes-2025-2026\/#Quick_Summary_of_FRM_Changes_for_2026\" >Quick Summary of FRM Changes for 2026<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/analystprep.com\/blog\/frm-curriculum-changes-2025-2026\/#Why_GARP_Adjusts_the_FRM_Syllabus_Every_Year\" >Why GARP Adjusts the FRM Syllabus Every Year<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/analystprep.com\/blog\/frm-curriculum-changes-2025-2026\/#FRM_Curriculum_Changes_for_2026_Detailed_Section\" >FRM Curriculum Changes for 2026 (Detailed Section)<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/analystprep.com\/blog\/frm-curriculum-changes-2025-2026\/#How_Do_These_Changes_Affect_Your_Study_Strategy\" >How Do These Changes Affect Your Study Strategy?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/analystprep.com\/blog\/frm-curriculum-changes-2025-2026\/#Detailed_Breakdown_of_Each_FRM_Topic_Area_2026_Edition\" >Detailed Breakdown of Each FRM Topic Area (2026 Edition)<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/analystprep.com\/blog\/frm-curriculum-changes-2025-2026\/#Removed_or_Deprecated_Topics_2025_%E2%86%92_2026\" >Removed or Deprecated Topics (2025 \u2192 2026)<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/analystprep.com\/blog\/frm-curriculum-changes-2025-2026\/#FRM_Syllabus_2026_Study_Resources\" >FRM Syllabus 2026 Study Resources<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/analystprep.com\/blog\/frm-curriculum-changes-2025-2026\/#Frequently_Asked_Questions\" >Frequently Asked Questions<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/analystprep.com\/blog\/frm-curriculum-changes-2025-2026\/#Key_Takeaways\" >Key Takeaways<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/analystprep.com\/blog\/frm-curriculum-changes-2025-2026\/#Important_Resources\" >Important Resources:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/analystprep.com\/blog\/frm-curriculum-changes-2025-2026\/#Related_Articles\" >Related Articles<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Quick_Summary_of_FRM_Changes_for_2026\"><\/span><strong>Quick Summary of FRM Changes for 2026<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<figure class=\"wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\"><div class=\"wp-block-embed__wrapper\">\n<iframe loading=\"lazy\" title=\"Study Materials for FRM Exams\" width=\"1170\" height=\"658\" src=\"https:\/\/www.youtube.com\/embed\/9oHwR4gkDAA?feature=oembed&#038;enablejsapi=1&#038;origin=https:\/\/analystprep.com\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe>\n<\/div><\/figure>\n\n\n\n<p>Here\u2019s a summary for busy candidates.<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><thead><tr><td><strong>Change Type<\/strong><\/td><td><strong>Part I<\/strong><\/td><td><strong>Part II<\/strong><\/td><\/tr><\/thead><tbody><tr><td>New topics<\/td><td>None<\/td><td>7 new readings under Investment Management and 5 under Current Issues<\/td><\/tr><tr><td>Updated topics<\/td><td>QA-10: Stationary Time Series<\/td><td>LR-5: Liquidity and Reserves Management: Strategies and Policies<\/td><\/tr><tr><td>Swapped topics<\/td><td>None<\/td><td>6 readings under Liquidity Risk, <br>4 readings under Investment Management, 3 readings under Current Issues<\/td><\/tr><tr><td>Removed topics<\/td><td>None<\/td><td>2 readings from Liquidity Risk, <br>3 readings under Investment Management, 6 readings under Current Issues<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p><strong>Expected impact on difficulty:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Part I:<\/strong> <a href=\"https:\/\/analystprep.com\/shop\/frm-part-1-complete-course-by-analystprep\/\">Slightly more analytical; requires applied understanding of time series rather than conceptual memorization<\/a>.<\/li>\n\n\n\n<li><strong>Part II:<\/strong> <a href=\"https:\/\/analystprep.com\/shop\/frm-part-2-complete-course-by-analystprep\/\">More complex analytics with deeper coverage of model validation, AI, systemic risk, and forward-looking topics<\/a>.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Why_GARP_Adjusts_the_FRM_Syllabus_Every_Year\"><\/span><strong>Why GARP Adjusts the FRM Syllabus Every Year<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>You might wonder why GARP tinkers with the FRM syllabus each year. Here\u2019s the reasoning:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Alignment with regulatory trends:<\/strong> Basel III\/IV reforms and IOSCO updates require updated risk frameworks.<\/li>\n\n\n\n<li><strong>Technological evolution:<\/strong> Machine learning, AI, and digital resilience reshape how risk is measured.<\/li>\n\n\n\n<li><strong>Real-world relevance:<\/strong> Employers expect candidates to understand the application of concepts, not just formulas.<\/li>\n\n\n\n<li><strong>Market feedback:<\/strong> FRM exam data and feedback from past candidates drive curriculum refinements.<\/li>\n<\/ul>\n\n\n\n<p>Simply put, the FRM 2026 syllabus is designed to reflect today\u2019s risk landscape, not yesterday\u2019s.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"FRM_Curriculum_Changes_for_2026_Detailed_Section\"><\/span><strong>FRM Curriculum Changes for 2026 (Detailed Section)<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p><strong>FRM Part I \u2014 2026 Curriculum Changes<\/strong><\/p>\n\n\n\n<p><strong>Quantitative Analysis Updates:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Updated focus:<\/strong> Five LOs have been reworded.<\/li>\n\n\n\n<li><strong>Impact:<\/strong> Candidates who focus only on conceptual understanding or formula memorization may struggle. Success requires practical interpretation and analytical reasoning.<\/li>\n\n\n\n<li><strong>Overall Part I:<\/strong> The rest of Part I remains unchanged, so your overall (FRM Study Plan) stays steady, emphasizing real-world reasoning rather than memorization.<\/li>\n<\/ul>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1536\" height=\"864\" src=\"https:\/\/analystprep.com\/blog\/wp-content\/uploads\/2025\/12\/ChatGPT-Image-Dec-17-2025-07_06_44-PM-1-edited.png\" alt=\"\" class=\"wp-image-13548\" srcset=\"https:\/\/analystprep.com\/blog\/wp-content\/uploads\/2025\/12\/ChatGPT-Image-Dec-17-2025-07_06_44-PM-1-edited.png 1536w, https:\/\/analystprep.com\/blog\/wp-content\/uploads\/2025\/12\/ChatGPT-Image-Dec-17-2025-07_06_44-PM-1-edited-300x169.png 300w, https:\/\/analystprep.com\/blog\/wp-content\/uploads\/2025\/12\/ChatGPT-Image-Dec-17-2025-07_06_44-PM-1-edited-1024x576.png 1024w, https:\/\/analystprep.com\/blog\/wp-content\/uploads\/2025\/12\/ChatGPT-Image-Dec-17-2025-07_06_44-PM-1-edited-400x225.png 400w\" sizes=\"auto, (max-width: 1536px) 100vw, 1536px\" \/><\/figure>\n\n\n\n<p><strong>Topic Weight Comparison (2025 \u2192 2026):<\/strong><\/p>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><thead><tr><td><strong>Topic<\/strong><\/td><td><strong>2025 Weight<\/strong><\/td><td><strong>2026 Weight<\/strong><\/td><td><strong>Change<\/strong><\/td><\/tr><\/thead><tbody><tr><td>Foundations of Risk Management<\/td><td>20%<\/td><td>20%<\/td><td>\u2013<\/td><\/tr><tr><td>Quantitative Analysis<\/td><td>20%<\/td><td>20%<\/td><td>\u2013<\/td><\/tr><tr><td>Financial Markets &amp; Products<\/td><td>30%<\/td><td>30%<\/td><td>\u2013<\/td><\/tr><tr><td>Valuation &amp; Risk Models<\/td><td>30%<\/td><td>30%<\/td><td>\u2013<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p><strong>Impact on Difficulty:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Slightly conceptual but now more applied; understanding risk tools in context is critical.<\/li>\n\n\n\n<li>Exam questions may test interpretation, diagnostics, and scenario-based reasoning.<\/li>\n<\/ul>\n\n\n\n<p><strong>FRM Part II \u2014 2026 Curriculum Changes<\/strong><\/p>\n\n\n\n<p>The real transformation happens in Part II, where readings increase from 104 \u2192 107.<\/p>\n\n\n\n<p><strong>FRM Part II Updates (Readings and Books):<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Swapped under Book 4: Liquidity Risk and Treasury Risk Management:<\/strong>\n<ul class=\"wp-block-list\">\n<li>Managing and Pricing Deposit Services<\/li>\n\n\n\n<li>Repurchase Agreements and Financing<\/li>\n\n\n\n<li>Liquidity Transfer Pricing: A Guide to Better Practice<\/li>\n\n\n\n<li>The US Dollar Shortage in Global Banking and the International Policy Response<\/li>\n\n\n\n<li>Covered Interest Parity Lost: Understanding the Cross-Currency Basis<\/li>\n\n\n\n<li>Risk Management for Changing Interest Rates: Asset-Liability Management and Duration Techniques<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li><strong>Reassigned:<\/strong> Illiquid Assets moved to Book 5 &#8211; Risk Management and Investment Management.<\/li>\n\n\n\n<li><strong>New readings added to Book 5:<\/strong>\n<ul class=\"wp-block-list\">\n<li>Hedge Fund Investment Strategies<\/li>\n\n\n\n<li>Risk, Regulation and Organizational Structure<\/li>\n\n\n\n<li>Private Markets Investing<\/li>\n\n\n\n<li>Distress Symptoms and Remedies<\/li>\n\n\n\n<li>Madoff: A Riot of Red Flags<\/li>\n\n\n\n<li>Market-Driven Scenarios: An Approach for Plausible Scenario Construction<\/li>\n\n\n\n<li>Liquidity Risk Management<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n<p><strong>Current Issues Overhaul:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Advances in Artificial Intelligence: Implications for Capital Markets Activities<\/li>\n\n\n\n<li>The Financial Stability Implications of Artificial Intelligence<\/li>\n\n\n\n<li>The Global Drivers of Private Credit<\/li>\n\n\n\n<li>Global Financial Stability Report<\/li>\n\n\n\n<li>Tokenization and Financial Market Inefficiencies<\/li>\n<\/ul>\n\n\n\n<p><strong>Retained from 2025 CI readings:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Monetary and Fiscal Policy: Safeguarding Stability and Trust<\/li>\n\n\n\n<li>Regulating the Crypto Ecosystem: The Case of Unbacked Crypto Assets<\/li>\n\n\n\n<li>Digital Resilience and Financial Stability: The Quest for Policy Tools in the Financial Sector<\/li>\n<\/ul>\n\n\n\n<p><strong>Impact on Difficulty:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Part II is more analytical, forward-looking, and deeper than before.<\/li>\n\n\n\n<li>Candidates must prepare for applied topics such as scenario construction, AI in finance, private markets, hedge fund strategies, and model validation.<\/li>\n\n\n\n<li>Using outdated (FRM 2025 syllabus) or older study materials may leave significant gaps.<\/li>\n\n\n\n<li>Focus on (FRM Part 2 new topics) for the 2026 exam.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"How_Do_These_Changes_Affect_Your_Study_Strategy\"><\/span><strong>How Do These Changes Affect Your Study Strategy?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p><strong>What to Study First:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Prioritize new readings in Current Issues, Risk Management &amp; Investment Management and Part II applied topics.<\/li>\n\n\n\n<li>Review Part I Quantitative Analysis, focusing on applied interpretation, diagnostics, and scenario reasoning.<\/li>\n<\/ul>\n\n\n\n<p><strong>How to Allocate Study Time:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Adjust study time based on topic weighting:\n<ul class=\"wp-block-list\">\n<li>Market Risk, Credit Risk, and Operational Risk receive increased attention<\/li>\n\n\n\n<li>Current Issues now have higher exam relevance<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n<p><strong>Mock Exams &amp; Practice Questions:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Focus your practice on scenario generation, model validation, AI in finance, and hedge fund strategies.<\/li>\n\n\n\n<li>Use updated [mock exams page](Mock exams page) to mirror the 2026 exam style.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Detailed_Breakdown_of_Each_FRM_Topic_Area_2026_Edition\"><\/span><strong>Detailed Breakdown of Each FRM Topic Area (2026 Edition)<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p><strong>Foundations of Risk Management (Part I):<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>No changes; focus remains on fundamental frameworks.<\/li>\n<\/ul>\n\n\n\n<p><strong>Quantitative Analysis:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Stationary Time Series <\/li>\n<\/ul>\n\n\n\n<p><strong>Financial Markets &amp; Products:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>No major changes; continue to master instruments and derivatives.<\/li>\n<\/ul>\n\n\n\n<p><strong>Valuation &amp; Risk Models:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Core valuation techniques remain. Emphasis on applying them in real-world contexts.<\/li>\n<\/ul>\n\n\n\n<p><strong>Market Risk Measurement (Part II):<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Focus on VAR, stress testing, and new scenario generation techniques.<\/li>\n<\/ul>\n\n\n\n<p><strong>Credit Risk Measurement:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Emphasis on AI impact and forward-looking risk metrics.<\/li>\n<\/ul>\n\n\n\n<p><strong>Operational Risk:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Cyber resilience, operational interdependencies, and scenario-based exercises now prominent.<\/li>\n<\/ul>\n\n\n\n<p><strong>Risk Management &amp; Investment Portfolio:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Minor updates; focus on integration with advanced models.<\/li>\n<\/ul>\n\n\n\n<p><strong>Current Issues in Financial Markets:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>AI, systemic risk, private credit, and digital fragmentation dominate.<\/li>\n<\/ul>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1536\" height=\"864\" src=\"https:\/\/analystprep.com\/blog\/wp-content\/uploads\/2025\/12\/ChatGPT-Image-Dec-17-2025-07_42_29-PM-edited.png\" alt=\"\" class=\"wp-image-13551\" srcset=\"https:\/\/analystprep.com\/blog\/wp-content\/uploads\/2025\/12\/ChatGPT-Image-Dec-17-2025-07_42_29-PM-edited.png 1536w, https:\/\/analystprep.com\/blog\/wp-content\/uploads\/2025\/12\/ChatGPT-Image-Dec-17-2025-07_42_29-PM-edited-300x169.png 300w, https:\/\/analystprep.com\/blog\/wp-content\/uploads\/2025\/12\/ChatGPT-Image-Dec-17-2025-07_42_29-PM-edited-1024x576.png 1024w, https:\/\/analystprep.com\/blog\/wp-content\/uploads\/2025\/12\/ChatGPT-Image-Dec-17-2025-07_42_29-PM-edited-400x225.png 400w\" sizes=\"auto, (max-width: 1536px) 100vw, 1536px\" \/><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Removed_or_Deprecated_Topics_2025_%E2%86%92_2026\"><\/span><strong>Removed or Deprecated Topics (2025 \u2192 2026)<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Part I:<\/strong> None<\/li>\n\n\n\n<li><strong>Part II:<\/strong> Two readings from Liquidity Risk, three readings under Investment Management and six readings under Current Issues have been removed. <\/li>\n<\/ul>\n\n\n\n<p>Reason: Concepts now embedded into more practical sections to reflect real-world application.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"FRM_Syllabus_2026_Study_Resources\"><\/span><strong>FRM Syllabus 2026 Study Resources<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p><strong>How AnalystPrep Keeps You in Control<\/strong><br>Curriculum changes only feel overwhelming when you lack clarity. AnalystPrep removes that pressure. Our refreshed 2026 prep resources include:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>93+ hours of FRM Level 1 and FRM Level 2 Video Lessons covering every updated reading with clear explanations<\/li>\n\n\n\n<li>Over 2,000 pages of Study Notes designed for quick comprehension of key topics<\/li>\n\n\n\n<li>4,000+ Practice Questions aligned with revised FRM 2026 curriculum, FRM Part 1 new topics and FRM Part 2 new topics<\/li>\n\n\n\n<li>Five full-length mock exams that reflect the 2026 structure and updated question styles<\/li>\n<\/ul>\n\n\n\n<p>Every resource shows you what changed, why it changed, and how to adjust your preparation with accuracy.<\/p>\n\n\n\n<p><strong>Additional materials<\/strong>:<br><a href=\"https:\/\/analystprep.com\/blog\/step-by-step-study-plan-for-frm-part-i-exam\/\">FRM Study Plan<\/a><br><a href=\"https:\/\/www.garp.org\/landing\/frm-learning-objectives\">FRM Syllabus<\/a><br><a href=\"https:\/\/analystprep.com\/frm-part-1-practice-questions\/\">FRM Question Banks<\/a><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Frequently_Asked_Questions\"><\/span><strong>Frequently Asked Questions<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p><strong>Does the FRM syllabus change every year?<\/strong><br>Yes. FRM GARP updates happen annually to reflect market, regulatory and technological developments, ensuring candidates are tested on the most relevant topics.<\/p>\n\n\n\n<p><strong>What changed in the FRM syllabus for 2026?<\/strong><br>No major changes in Part I. Part II has major updates, including 7 new readings, revisions in Market, Credit, and Operational Risk, and a complete overhaul of Current Issues, reflecting FRM Part 2 new topics, AI, model validation, and systemic risk.<\/p>\n\n\n\n<p><strong>Are syllabus changes significant for Part I or Part II?<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Part I: Minor; mostly conceptual and analytical.<\/li>\n\n\n\n<li>Part II: Major, more analytical, AI-focused and forward-looking.<\/li>\n<\/ul>\n\n\n\n<p><strong>Will the 2026 FRM exam be harder because of the updates?<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Part I: Difficulty similar, requiring applied understanding.<\/li>\n\n\n\n<li>Part II: More complex due to new readings, model validation, AI, systemic risk and scenario construction.<\/li>\n<\/ul>\n\n\n\n<p><strong>Do I need new study materials if the syllabus changes?<\/strong><br>Yes, particularly for Part II. Using outdated resources may leave gaps in understanding the FRM new curriculum. AnalystPrep provides fully updated mock exams, study notes, and practice questions aligned with the 2026 syllabus.<\/p>\n\n\n\n<p><strong>Can I still use 2024 or 2025 books to study for 2026?<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Part I: Yes, with minor adjustments.<\/li>\n\n\n\n<li>Part II: Not recommended; using older books may miss important FRM 2025 changes and FRM part 2 new topics.<\/li>\n<\/ul>\n\n\n\n<p><strong>FRM eligibility changes<br><\/strong>GARP occasionally updates candidate requirements. For 2026, confirm your eligibility before enrolling, as eligibility changes may affect work experience, education prerequisites and compliance with the latest FRM GARP updates.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Key_Takeaways\"><\/span><strong>Key Takeaways<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>FRM Part I 2026:<\/strong> Mostly stable; focus on applied interpretation in Quantitative Analysis.<\/li>\n\n\n\n<li><strong>FRM Part II 2026:<\/strong> Major updates in Current Issues and Risk Management and Investment Management.<\/li>\n\n\n\n<li><strong>Study Smart:<\/strong> Use updated <a href=\"https:\/\/analystprep.com\/pricing\/#frm\">AnalystPrep materials<\/a>, prioritize high-weight topics and practice mock exams reflecting 2026 changes.<\/li>\n\n\n\n<li><strong>Stay Ahead:<\/strong> Download the free FRM 2026 Syllabus PDF to plan your study efficiently.<\/li>\n<\/ul>\n\n\n\n<p>With this guide, you now have the full FRM 2026 curriculum mapped out, actionable insights, and resources to confidently tackle the exam.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Important_Resources\"><\/span><strong>Important Resources:<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/analystprep.com\/frm-part-1\/\">FRM Level 1<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/analystprep.com\/frm-part-2\/\">FRM Level 2<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/analystprep.com\/frm-part-1-practice-questions\/\">FRM Question Banks<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/analystprep.com\/frm-part-1-mock-exams\/\">Mock exams<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/analystprep.com\/frm-video-lessons\/\">Video Lessons<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/analystprep.com\/frm-part-1-study-notes\/\">Study Notes<\/a><\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Related_Articles\"><\/span><strong>Related Articles<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/analystprep.com\/blog\/frm-syllabus\/\">FRM Syllabus<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/analystprep.com\/blog\/preparing-for-the-financial-risk-manager-frm-exam\/\">Preparing for the Financial Risk Manager (FRM) Exam<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/analystprep.com\/blog\/which-books-are-good-for-frm-part-i\/\">Which Books Are Good for FRM Part I?<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/analystprep.com\/blog\/many-aspiring-risk-management-professionals-aim-to-pass-the-financial-risk-manager-frm-exam-on-the-first-attempt\/\">Many Aspiring Risk Management Professionals Aim to Pass the Financial Risk Manager (FRM) Exam on the First Attempt<\/a><\/li>\n<\/ul>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Are you planning to take the Financial Risk Manager (FRM) exam? Smart move. But here\u2019s the thing: the FRM syllabus evolves every year and staying ahead of the changes is critical if you want to pass on the first attempt&#8230;.<\/p>\n","protected":false},"author":11,"featured_media":13451,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[71],"tags":[83,312,132,287],"class_list":["post-12193","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-frm","tag-frm","tag-frm-2026","tag-frm-program","tag-garp-curriculum","blog-post","animate"],"acf":[],"post_mailing_queue_ids":[],"_links":{"self":[{"href":"https:\/\/analystprep.com\/blog\/wp-json\/wp\/v2\/posts\/12193","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/analystprep.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/analystprep.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/analystprep.com\/blog\/wp-json\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"https:\/\/analystprep.com\/blog\/wp-json\/wp\/v2\/comments?post=12193"}],"version-history":[{"count":16,"href":"https:\/\/analystprep.com\/blog\/wp-json\/wp\/v2\/posts\/12193\/revisions"}],"predecessor-version":[{"id":13673,"href":"https:\/\/analystprep.com\/blog\/wp-json\/wp\/v2\/posts\/12193\/revisions\/13673"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/analystprep.com\/blog\/wp-json\/wp\/v2\/media\/13451"}],"wp:attachment":[{"href":"https:\/\/analystprep.com\/blog\/wp-json\/wp\/v2\/media?parent=12193"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/analystprep.com\/blog\/wp-json\/wp\/v2\/categories?post=12193"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/analystprep.com\/blog\/wp-json\/wp\/v2\/tags?post=12193"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}