FRM Exam Results 2025: Pass Rates, Analysis, and Next Steps

FRM Exam Results 2025: Pass Rates, Analysis, and Next Steps

The Financial Risk Manager (FRM) certification, offered by the Global Association of Risk Professionals (GARP), remains one of the most recognized designations for professionals in risk management. In 2025, the FRM exam continues to serve as a benchmark for expertise in financial risk, reflecting both the evolving dynamics of global markets and high standards for professional competence. This comprehensive analysis explores the latest pass rates, key insights, and what candidates should consider as next steps.

Latest FRM Exam Pass Rates FRM Exam Results 2025 , FRM Pass Rate

Part I: Foundational Knowledge FRM Exam Results 2025 , FRM Pass Rate

In recent years, FRM Part I pass rates have demonstrated a consistent upward trend, indicating increased candidate preparedness and possibly more accessible study resources. For the November 2024 exam, the pass rate stood at 55%, while both the May and August 2024 exams recorded 56%. This improvement from the 45% pass rate seen in November 2023 reflects a more robust exam strategy by candidates and improved alignment with the evolving curriculum.FRM Exam Results 2025 , FRM Pass Rate

Part II: Advanced Application

In contrast, FRM Part II pass rates have remained relatively stable, with slight fluctuations. The November 2024 exam recorded a 52% pass rate, compared to 53% in November 2023. Historically, Part II pass rates range between 50% and 63%, with a 15-year average of about 56%. This consistency underlines the difficulty of Part II, which focuses on practical and applied aspects of risk management.

Understanding the Pass/Fail System

GARP utilizes a pass/fail grading model, without revealing the specific minimum passing score (MPS). However, research and surveys suggest that the MPS typically ranges between 50%-57% for Part I and 51%-52% for Part II. Instead of absolute scores, GARP provides quartile rankings for each topic, giving candidates a comparative measure of their strengths and weaknesses.

This reporting system ensures that the emphasis is placed on comprehensive understanding rather than test-taking tactics. Candidates can use their performance reports to strategically enhance their knowledge base for future exams or professional development.

FRM Exam Result Release Dates – 2025

Exam Window	Exam Dates	Expected Result Release Date
May 2025	Part I: May 10–16Part II: May 17–20	June 26, 2025
August 2025	Part I & II: August 8–9	August 26, 2025
November 2025	Part I: November 8–14Part II: November 15–19	January 5, 2026

Note: These dates are projected based on historical patterns. Always refer to GARP communications for confirmed timelines.

How to Access Your Results

• Notification: GARP will notify candidates via email when results are released.

• Access: Results are available through the GARP candidate portal.

• Format: Candidates receive a pass/fail status along with quartile-based performance metrics.

• Timing: Typically, results are released within 6–7 weeks after the exam window.

Key Factors Influencing Pass Rates

1. Enhanced Study Resources

High-quality materials from providers such as Kaplan Schweser and Bionic Turtle have become increasingly accessible. These resources offer in-depth coverage of the curriculum and simulate real exam conditions.

2. Candidate Preparedness

Candidates are now investing more time in preparation, with an average of 240–275 hours recommended per exam part. This commitment is a major contributor to the improved success rates.

3. Curriculum Relevance

GARP continuously updates the FRM curriculum to reflect current risk management practices. These updates ensure relevance but may also introduce content variability that affects performance.

Strategic Steps for Aspiring FRMs

1. Master the Curriculum

Candidates must thoroughly understand both theoretical and applied risk management concepts. Part I emphasizes foundations, while Part II focuses on application in real-world contexts.

2. Develop a Structured Study Plan

Time management is key. Create a schedule that covers all learning objectives, integrates regular review, and includes mock exams for self-assessment.

3. Practice Extensively

Use practice exams to gauge readiness. Aim for mock exam scores of 65% or higher to build confidence and identify weak areas.

4. Leverage Peer Support

Engage in study groups or online communities such as Reddit or professional forums. Collaboration helps clarify difficult topics and keeps motivation high.

Post-Exam Considerations

1. Review Performance Metrics

Use your quartile rankings to pinpoint areas for improvement. This analysis is especially useful if you're planning to retake the exam or looking to enhance specific skill sets.

2. Fulfill Work Experience Requirement

To earn the FRM designation, candidates must demonstrate two years of relevant full-time work experience in financial risk management. This must be completed within five years of passing Part II.

3. Continue Professional Development

After certification, staying updated is crucial. GARP offers CPD programs to ensure ongoing learning and industry engagement.

The FRM exam remains a gold standard in the financial risk profession. With pass rates on the rise for Part I and stability in Part II, the trend reflects a growing emphasis on thorough preparation and professional competence. By understanding the grading system, planning strategically, and engaging with the right resources, candidates can position themselves for success. For those who pass, the journey doesn't end—it evolves into a commitment to continuous learning and leadership in risk management.