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FRM Course: Course Details, Syllabus, Fees, Career Scope

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Blog Summary In the dynamic realm of global finance, the role of a Financial Risk Manager has become indispensable. The FRM certification, recognised worldwide, serves as a beacon for professionals aiming to master the art of risk management. The FRM certification process is rigorous yet rewarding, with no specific educational prerequisites, making it accessible to a wide audience. : Whether you're looking to gain a competitive edge, aim for higher earning potential, or make a significant impact in the finance industry, the FRM certification is your key to success.

In the ever-evolving landscape of global finance, the demand for skilled professionals who can adeptly navigate the complexities of risk management has never been higher. Enter the Financial Risk Management (FRM) certification, a prestigious credential that has become the gold standard for financial risk professionals worldwide. With over 76,000 certified FRMs across more than 190 countries, the FRM certification stands as a testament to its global recognition and the high regard in which it is held within the financial industry.

What is the FRM Course?

FRM Course full form is Financial Risk Management course which is a prestigious professional certification for financial risk professionals, offering a comprehensive curriculum designed to equip candidates with the expertise needed to manage risk, make informed decisions, and excel in the global finance industry. Administered by the Global Association of Risk Professionals (GARP), the FRM certification is recognised internationally as the gold standard for risk management professionals.

The primary objective of the FRM course is to prepare candidates to understand and apply risk management tools and techniques in various financial sectors, including banks, investment firms, and corporate finance. It aims to develop a deep understanding of market risk, credit risk, operational risk, and risk management in investments, as well as the foundational knowledge required for effective risk assessment and decision-making.

FRM Course Details: Overview

The FRM certification is recognised globally as the gold standard for risk professionals. It signifies a professional's ability to manage risk in a rapidly evolving financial world. The certification is ideal for those working or aspiring to work in positions related to risk management, including in banks, investment firms, government agencies, and consulting firms.


FRM Course Details

Certification Name

Financial Risk Management (FRM)

Administered By

Global Association of Risk Professionals (GARP)


Globally recognised as a leading certification for risk management professionals.

Eligibility Criteria

No specific educational prerequisites. Candidates must pass Part I and Part II exams and document two years of relevant work experience in financial risk management.

Exam Structure

Two parts: Part I focuses on tools used in risk assessment; Part II on the application of these tools.

Exam Format

Computer-based testing format.

Number of Questions

Part I: 100 multiple-choice questions; Part II: 80 multiple-choice questions.

FRM Course Duration

4 hours for each part.

Exam Frequency

Part I: Three times a year; Part II: Twice a year.

Test Centers

Over 100 test cities across the world.

FRM Course Fees

Includes enrollment fees, exam fees, and study material costs. Costs vary for new and returning candidates.

Study Material

Official books, sample papers, and study guides available through GARP. Additional costs for books.

Top Hiring Firms

Global and regional banks, consulting firms, asset management firms, hedge funds, insurance companies, and regulatory agencies.

FRM Course Salary Range

Competitive salaries with a considerable return on investment (ROI). Salaries vary based on location, experience, and job role.

Professional Development

FRM certificate holders are encouraged to engage in continuing professional development (CPD) to maintain certification status.

Why Pursue an FRM Course?

  • Global Recognition: The FRM certification is internationally acknowledged by leading financial institutions, banks, and regulatory agencies. This global acceptance makes it a powerful tool for career mobility, opening doors to opportunities worldwide.
  • Enhanced Career Prospects: FRM holders are sought after for their expertise in risk management, a critical function in today’s financial institutions. Certification can lead to prestigious roles such as Risk Analyst, Risk Manager, Chief Risk Officer, and more, across a variety of sectors including banking, investment, and corporate finance.
  • Competitive Advantage: In a field as competitive as finance, having an FRM certification gives you an edge over your peers. It signifies your dedication to understanding risk at a high level and your commitment to the finance profession.
  • Professional Growth and Development: Pursuing an FRM course is not just about passing exams; it’s a journey of professional growth. The curriculum is designed to keep you abreast of the latest trends and practices in financial risk management, ensuring you remain relevant in a rapidly changing industry.
  • Networking Opportunities: Becoming an FRM-certified professional grant you access to a global network of like-minded individuals, industry leaders, and experts. This community can be a rich resource for knowledge sharing, career advice, and opportunities.
  • Attractive Earnings Potential: FRM certification can significantly enhance your earning potential. Certified professionals often command higher salaries compared to their non-certified counterparts, reflecting the value and expertise they bring to an organisation.
  • Commitment to Ethical Standards: FRM certification also emphasises professional ethics, a critical component in the finance industry. This commitment to ethical standards fosters trust and integrity, qualities that are indispensable in today’s business environment.

FRM Course Fees

The Financial Risk Management (FRM) certification, recognised globally for its emphasis on financial risk management, involves a structured fee schedule for candidates pursuing the certification. The FRM course fees cover various aspects of the certification process, including exam registration, enrollment, and study materials. Below is a detailed breakdown of the FRM course fees, designed to provide prospective candidates with a clear understanding of the financial commitment required for obtaining the FRM designation.

FRM Course Fee Component


Amount (USD)

Approximate Amount (INR)

Enrollment Fee

A one-time fee for new FRM Part I candidates.



Exam Fee - Part I

Fee for FRM Part I exam, varies by registration period.

Early: $600 

Standard: $800

Early: ₹45,000 

Standard: ₹60,000

Exam Fee - Part II

Fee for FRM Part II exam, post Part I completion.

Early: $600 

Standard: $800

Early: ₹45,000 

Standard: ₹60,000

Study Materials

Official GARP materials, including books and practice exams.

Books for Part I or II: $300

eBooks for Part I or II: $250

Books for Part I or II: ₹22,500 

eBooks for Part I or II: ₹18,750

Membership Fee (Optional)

Annual GARP membership, is optional for candidates.

Individual Member: $195 

Certified FRM/ERP: $150

Individual Member: ₹14,625 Certified FRM/ERP: ₹11,250

FRM Course Syllabus Overview

The Financial Risk Management (FRM) certification, offered by the Global Association of Risk Professionals (GARP), is structured around a comprehensive syllabus designed to equip candidates with the expertise needed for risk management excellence. The syllabus is divided into two parts, each focusing on different aspects of financial risk management. Part I lays the foundation with tools for risk assessment, while Part II delves into the application and implementation of these tools in various risk management scenarios.

FRM Course Syllabus Part I: Core Concepts and Tools for Risk Assessment

  • Foundations of Risk Management: This section covers the essentials of risk management, including the identification of basic risk types, the use of measurement and management tools, and the importance of risk management in corporate governance. It also explores Enterprise Risk Management (ERM), the impact of financial disasters, and the ethical considerations in risk management practices.
  • Quantitative Analysis: Candidates will explore statistical methods and models crucial for risk analysis, including probability distributions, hypothesis testing, and regression analysis. This area emphasises the importance of quantitative tools in estimating risk and making informed decisions.
  • Financial Markets and Products: This segment provides an in-depth look at the structure and operation of financial markets, including derivatives and their valuation. It also covers interest rate risk, foreign exchange risk, and the mechanics of various financial instruments.
  • Valuation and Risk Models: Focuses on methodologies for assessing and managing risk, including Value-at-Risk (VaR), stress testing, and the evaluation of fixed-income securities. This section is vital for understanding the frameworks used in risk valuation.

FRM Course Syllabus Part II: Advanced Application and Implementation

  • Market Risk Measurement and Management: Explores advanced concepts in market risk, including various risk measures, estimation techniques, and the implications of volatility. This area is crucial for managing and mitigating market-related risks.
  • Credit Risk Measurement and Management: Addresses methodologies for analysing credit risk, managing counterparty risk, and the use of credit derivatives. This section is key for professionals dealing with credit exposure and risk mitigation.
  • Operational and Integrated Risk Management: Covers strategies for managing operational risk, including IT risk, data quality issues, and regulatory compliance. It also examines the integration of risk management practices across an organisation.
  • Risk Management and Investment Management: Focuses on applying risk management principles to investment portfolios, including risk budgeting, monitoring, and performance measurement. This area bridges the gap between risk management and investment strategy.
  • Current Issues in Financial Markets: Keeps candidates abreast of the latest trends and challenges in the financial markets, including technological advancements, regulatory changes, and emerging risks. This section ensures that professionals are prepared for the dynamic nature of financial risk management.

FRM Courses Abroad

When considering pursuing an FRM (Financial Risk Management ) certification abroad, it's essential to understand the various aspects of the course, including the institutions that offer relevant programmes, the duration of the courses, the fees involved, and the countries where these programmes are highly recognised. Below is a detailed table that outlines key information about pursuing FRM courses abroad:



FRM Course Duration

FRM Course Fees (Approx.)

Language of Instruction

Notable Features


New York University (NYU)

6 months - 1 year

USD 5,000 - USD 10,000


- Located in the financial capital, offering great networking opportunities.

-Comprehensive curriculum covering all aspects of FRM.


London Business School

6 months - 1 year

GBP 4,000 - GBP 9,000


- Prestigious institution with a global reputation.

- Strong focus on practical risk management applications.


University of Toronto

6 months - 1 year

CAD 4,500 - CAD 9,500


- Offers a blend of theoretical knowledge and practical skills.

- Access to Canada's robust financial sector for job opportunities.


University of Sydney

6 months - 1 year

AUD 6,000 - AUD 12,000


- Curriculum aligned with global FRM standards.

- Strong industry connections for internships and employment.


National University of Singapore (NUS)

6 months - 1 year

SGD 5,000 - SGD 10,000


- High-quality education with a focus on Asia-Pacific financial markets.

- Extensive alumni network in the finance industry.


Frankfurt School of Finance & Management

6 months - 1 year

EUR 4,000 - EUR 8,000


- Offers courses specifically designed for FRM exam preparation.

- Strong emphasis on European financial regulations and risk management practices.


University of Zurich

6 months - 1 year

CHF 5,000 - CHF 10,000


- Specialised courses in banking and finance with a focus on risk management.

- Located in a global financial hub with access to leading financial institutions.

Hong Kong

Hong Kong University of Science and Technology (HKUST)

6 months - 1 year

HKD 40,000 - HKD 80,000


- Focus on risk management in Asian financial markets.

- Strong placement record in global financial institutions.


Erasmus University Rotterdam

6 months - 1 year

EUR 3,500 - EUR 7,000


- Integrates FRM concepts with European financial market analysis.

- Offers research opportunities in risk management.

Explore more universities with aecc Search 

FRM Course Career Scope

The Financial Risk Management (FRM) certification opens up a wide array of career opportunities in various sectors of the finance industry. Certified FRMs are sought after by top-tier financial institutions, consulting firms, regulatory agencies, and more, for their expertise in managing risk. Below is a detailed overview of potential career paths for FRM-certified professionals, along with their approximate FRM course salary ranges. The salary ranges are indicative and can vary based on factors such as location, experience, and the specific hiring organisation.

Job Role


Approximate  FRM Course Salary Range

Risk Analyst

Analyses financial risks and their impact on portfolio and investment decisions.

$50,000 - $100,000

Risk Manager

Oversees the risk management process for a firm, including identifying, analysing, and mitigating risks.

$80,000 - $150,000

Credit Risk Analyst

Assesses credit risk, determines creditworthiness, and sets credit limits for clients and counterparties.

$60,000 - $120,000

Market Risk Analyst

Evaluates and monitors market risk factors that can affect the financial market, using statistical models to predict potential losses.

$70,000 - $130,000

Regulatory Risk Analyst

Ensures compliance with regulatory requirements, advises on regulatory risk implications, and develops compliance strategies.

$70,000 - $130,000

Operational Risk Manager

Manages risks arising from internal processes, systems, and policies; focuses on operational effectiveness and risk mitigation strategies.

$90,000 - $160,000

Quantitative Analyst

Applies mathematical and statistical methods to financial and risk management problems.

$100,000 - $200,000

Portfolio Manager

Makes investment decisions, implements investment strategies, and manages the portfolio to achieve specified investment objectives.

$90,000 - $200,000+

Chief Risk Officer (CRO)

Top executive responsible for enabling the efficient and effective governance of significant risks, and related opportunities, to a business.

$150,000 - $300,000+

Consultant in Risk Management

Provides expert advice to firms on risk management strategies, risk assessment methodologies, and regulatory compliance.

$80,000 - $180,000

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Frequently Asked Questions

What is the financial risk management course?

The financial risk management course is a specialised programme designed to equip professionals with the skills and knowledge to identify, analyse, and manage financial risks in various business contexts.