Financial risk managers work in environments that can be uncertain, complex and volatile. Staying current with risk topics and maintaining critical analytical skills are import for adding value to a firm’s risk management program.

The FRM’s curriculum is dynamic and responsive to changing markets and their demands on global risk managers. Its coverage is regularly updated to address emerging risks and probe current hot topics.

For 2020, we’ve again updated our study materials to help candidates better prepare for the exam and increase their chance of success. This year’s changes were informed by input received from risk managers like you in their responses to the GARP Global Practice Analysis, a comprehensive triennial survey that investigates where risk managers work, what they do and what they need to know. They reflect the essential knowledge and skills required of a risk management professional, and which are necessary for long-term success.

Noteworthy revisions include:

FRM PART I

• Updating and revising of some knowledge areas, particularly in the Foundations of Risk Management and Quantitative Analysis sections
• End-of-chapter questions and answers to enrich preparation and learning

FRM PART II

• A new section on Liquidity and Treasury Risk, with the section on Operational Risk now refocused as Operational Risk and Resiliency
• Adjusted weighting of sections to reflect the above changes
• Review and rationalization of readings throughout Part II to maintain appropriate reading volume

Study Materials

• New, custom FRM Part I content developed specifically to address the FRM Exam’s changing curriculum

The FRM Part I content was authored by a noteworthy team of global risk professionals. Key contributors include John Hull, PhD, University Professor, Maple Financial Group Chair in Derivatives and Risk Management, University of Toronto and Kevin Sheppard, PhD, Associate Professor in Financial Economics and Tutorial Fellow in Economics at the University of Oxford, as well as practicing FRM professionals and academics, under the oversight of the FRM Committee.

All topics on the FRM Part I curriculum are featured in a new custom eBook, provided to all exam registrants. It is also available in print.

Frequently Asked Questions