Financial Risk Manager, Part I & II practice questions
Validates the tools and judgement a practising risk manager uses across market, credit, operational, liquidity and investment risk, from quantitative foundations to current issues in financial markets.
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Domains and share of simulation
805 questions in this bankPart I
Part II
Percentages are each domain's share of our simulation, drawn from each part's official topic weights.
Sources for the exam format
- www.garp.orgtopic names, per-part weights (Part I 20/20/30/30; Part II 20/20/20/15/15/10), broad knowledge points and readings for every topic, practice-oriented exam approach
- www.garp.org100 and 80 equally weighted multiple-choice questions, four hours each, CBT, no penalty for wrong answers, pass/fail with percentile ranges, Part I before Part II, 2026 windows, approved calculators, topic weights and Market Risk sub-points
- www.garp.orgcurrent exam format (100/80 questions, four hours, CBT), May/August/November windows, pass/fail with quartile results, annual curriculum revision
- www.garp.org2026 Study Guide, Candidate Guide and Learning Objectives are the current documents; early registration for May 2027 opens December 1; no 2027 curriculum published yet
- www.garp.org2026 FRM Study Guide, last updated Dec. 1, 2025
- www.garp.orgbreaks allowed but the on-screen clock does not stop or pause; only final confirmed answers are graded; approved calculators; ID rules
The real exam
- Official pass mark
- GARP does not publish a pass mark or numeric score. Candidates receive only pass/fail, with percentile (quartile) ranges comparing them to their peers. Part I must be passed first; if both parts are sat in the same window and Part I is failed, Part II is not graded.
- Outline
- 2026 FRM Study Guide (last updated Dec. 1, 2025) and 2026 FRM Candidate Guide; in force for the May, August and November 2026 windows. The 2027 Study Guide for the May 2027 window was not yet published on 2026-10-19.
- Navigation
- Flag questions and review them before you submit, as on the real exam.
The real FRM is two separate four-hour CBT exams: Part I (100 questions) and Part II (80 questions). This simulation draws one 100-question, four-hour exam, half from each part, with each part's official topic weights halved so they sum to 100. Each real part has no scheduled break: candidates may step away, but the four-hour clock keeps running.
Cost in credits
Questions you already paid for stay yours: reviewing them again is free.
Full exam simulationFRM is a trademark of Global Association of Risk Professionals (GARP). CertDepth is not affiliated with or endorsed by Global Association of Risk Professionals (GARP). These are original practice questions, not real exam items.