FRM Exam 2025 Requirements: Eligibility, Prerequisites, and Registration Guide
- Kateryna Myrko
- Oct 1
- 3 min read
The Financial Risk Manager (FRM) certification has become increasingly valuable in today's complex financial landscape. As you consider pursuing this prestigious credential in 2025, understanding the requirements, eligibility criteria, and registration process is your essential first step. This guide breaks down everything you need to know in a clear, accessible format.
Who Can Take the FRM Exam? FRM Exam 2025 Requirements
The Good News: Open Eligibility
One of the most appealing aspects of the FRM program is its accessibility. Unlike many professional certifications, GARP does not impose strict eligibility requirements for taking the FRM exam. There are no mandatory prerequisites regarding: FRM Exam 2025 Requirements
Educational background – No specific degree required
Work experience – Entry-level professionals and students welcome
Academic major – All fields of study accepted
Professional certifications – No prior designations needed
The Reality Check
While anyone can register for the exam, candidates should realistically assess their preparation. The FRM exam is rigorous and demands:
Strong quantitative and analytical skills
Understanding of financial markets and instruments
Commitment to intensive study (200-300 hours recommended per part)
English language proficiency (exam offered only in English)
Student-Friendly: Current undergraduate and graduate students can register and sit for the exam, making it an excellent credential to pursue while completing your education.
Understanding the Two-Part Structure
Part 1: Building the Foundation
What it covers:
Foundations of Risk Management (20%)
Quantitative Analysis (20%)
Financial Markets and Products (30%)
Valuation and Risk Models (30%)
Exam details: 100 multiple-choice questions | 4-hour duration
Part 2: Advanced Application
What it covers:
Market Risk Measurement and Management (20%)
Credit Risk Measurement and Management (20%)
Operational Risk and Resilience (20%)
Liquidity and Treasury Risk (15%)
Investment Risk Management (15%)
Current Issues in Financial Markets (10%)
Exam details: 80 multiple-choice questions | 4-hour duration
2025 Exam Windows and Deadlines
Available Testing Periods
The FRM exam is offered twice annually during designated windows:
May 2025 Window: Typically early to mid-May November 2025 Window: Typically early to mid-November
Note: Exact dates are announced by GARP well in advance. Always verify current scheduling on the official GARP website.
Registration Deadlines Matter
GARP operates a tiered pricing structure with three registration periods:
Early Registration
Opens approximately 6-7 months before exam
Lowest fees available
Most cost-effective option
Standard Registration
Typically 3-4 months before exam
Moderate fee increase
Still adequate preparation time
Late Registration
Closes about 1 month before exam
Highest fees apply
Compressed study timeline
Registration Fees Breakdown (2025)
What You'll Pay
First-Time Enrollment Fee: $400 (one-time, non-refundable)
Applies only when registering for your first FRM exam
Required for all new candidates
Valid for lifetime membership benefits
Exam Registration Fees:
Early Registration: $550
Standard Registration: $750
Late Registration: $950
Cost Examples
New Candidate (Part 1, Early Registration): $400 (enrollment) + $550 (exam) = $950 total
Returning Candidate (Part 2, Standard Registration): $750 (exam only) = $750 total
GARP Member Discount: Active GARP members receive $150 off exam registration fees, potentially offsetting membership costs.
Work Experience Requirement for Certification
Passing Isn't Everything
Critical distinction: Passing both exam parts doesn't automatically grant FRM certification. You must also fulfill:
Two years of professional work experience in financial risk management or related fields
What Qualifies?
Experience should involve:
Risk management activities
Trading and portfolio management
Risk-related research or analysis
Risk technology and systems
Academic positions teaching risk management
Verification Process
Submit your experience through the GARP website, including:
Detailed job descriptions
Employment dates and organizations
Contact information for verification
Timing flexibility: You can complete work experience before, during, or after passing exams. Many candidates pass both parts before accumulating the required experience.
Final Thoughts
The FRM program's open eligibility makes it accessible to ambitious professionals and students worldwide. However, accessibility shouldn't be confused with ease—thorough preparation remains essential. By understanding these requirements and planning your registration strategically, you're taking the crucial first step toward earning one of the finance industry's most respected risk management credentials.
Ready to begin? Visit the GARP website to explore current registration windows and take the next step in your risk management career.
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