The FRM Exam is a practice-oriented exam, firmly grounded in the skills and knowledge needed for today's complex financial landscape. Its questions are derived from a combination of theory, as set forth in the Core Readings and real-world work experience.

Candidates are expected to understand risk management concepts and approaches and how they would apply to a risk manager's day-to-day activities. It is very rare that a risk manager will be faced with an issue that can immediately be slotted into one category, and thus the FRM Exam tests holistic knowledge of financial risk.

The following FRM sample questions are provided for potential candidates to demonstrate the question type, format, and difficulty level of the FRM Exam Part I.