FRM Part 1 Pass Rates 2025: Your Realistic Chances of Success
- Kateryna Myrko
- Sep 24
- 5 min read
The Financial Risk Manager (FRM) certification represents the global standard for risk management professionals, with Part 1 serving as the crucial first step toward this prestigious designation. Understanding current pass rates and the factors that influence success provides essential insights for candidates planning their FRM journey in 2025.
Current FRM Part 1 Pass Rate Landscape FRM Part 1 Pass Rates 2025
Based on the most recent data available, FRM Part 1 pass rates have shown notable improvement, with the May 2024 exam achieving a 56% pass rate. This represents a significant increase from historical averages and marks the highest pass rate since 2010. Over the past decade, Part 1 pass rates have often been below the typical 50%, with a low of 41% in May 2018 and previous highs around 51% in August 2022. FRM Part 1 Pass Rates 2025
The recent trend shows encouraging signs for 2025 candidates. FRM Part 1 pass rates have remained relatively stable since 2014, ranging between 41%-50%, with 2024 results jumping to their highest level at 55-56%. This improvement suggests that candidates are becoming better prepared and that study methodologies are evolving to match the exam's demands.
Unlike other professional certifications that experienced dramatic fluctuations during the pandemic, FRM exams didn't show a noticeable improvement in pass rates for the 2020 and 2021 exams, possibly due to shorter required study time (200-240 hours per part on average).
Historical Pass Rate Analysis
Recent Five-Year Performance
The historical data reveals important patterns for prospective candidates:
May 2024: 56% (highest in over a decade)
November 2023: 45%
August 2023: 47%
May 2023: 47%
November 2022: 50%
August 2022: 51%
May 2022: 51%
Despite fluctuations, Part 1 rates have stabilized in recent years, averaging around 46% from 2010 to 2022. The recent uptick to 56% represents a meaningful departure from this trend, potentially indicating improved preparation resources and candidate readiness.
Long-Term Trends
With a long-term 15-year average of 47%, FRM Part 1 pass rates have remained relatively stable, making it one of the more predictable professional certification exams in terms of difficulty consistency. This stability helps candidates set realistic expectations and plan appropriate study strategies.
Factors Influencing Pass Rates in 2025
Enhanced Study Resources
Recent FRM pass rates are likely increasing because candidates are studying for the recommended amount of time (275 hours) and using comprehensive FRM study packages. The proliferation of high-quality preparation materials and online learning platforms has significantly improved candidate readiness.
Computer-Based Testing Adaptation
The transition to computer-based testing has created a more standardized testing environment. Candidates have adapted to the digital format, eliminating previous uncertainties about test-taking mechanics and allowing greater focus on content mastery.
Improved Understanding of Exam Structure
As more candidates share experiences and preparation strategies, the collective understanding of effective study approaches has improved. This knowledge transfer particularly benefits first-time candidates who can leverage proven methodologies.
Scoring Methodology and Pass Requirements
Criterion-Referenced Scoring
GARP uses a relative scoring system, meaning your performance is benchmarked against other candidates sitting the same exam. FRM exams are scored using a pass/fail system where your overall performance is not compared to other candidates - you either pass or you fail the exam. While this might seem contradictory, GARP employs a minimum passing score (MPS) that varies by exam administration while maintaining consistent standards.
GARP does not release the minimum passing score because they want candidates to focus on mastering the curriculum versus trying to achieve a specific score. However, industry estimates suggest the MPS typically ranges between 60-70% of total points, similar to other professional certifications.
Equal Question Weighting
All questions on the FRM exam are equally weighted, meaning each question counts the same towards your final score. This structure rewards broad competency across all topic areas rather than allowing candidates to compensate for weak areas through exceptional performance in others.
Topic Area Performance Requirements
The FRM Part 1 exam covers four primary areas with specific weightings:
Foundations of Risk Management (20%)
Quantitative Analysis (20%)
Financial Markets and Products (30%)
Valuation and Risk Models (30%)
According to recent analysis, Part I is considered the harder FRM exam, with less room for error, especially in Financial Markets and Products and Valuation and Risk Models, which together make up 60% of the exam.
Success requires balanced preparation across all areas. When you receive your exam results, you will get a Candidate Performance report for each topic area comparing your performance against other candidates who passed the exam.
Preparation Strategies for Optimal Success
Recommended Study Timeline
GARP advises candidates typically invest around 240 hours over several months in study time, though this can vary based on individual factors. More recent recommendations suggest 275 hours studying for each part, with 30-40% of time for reading and preparing, 40-50% practicing questions, and 20% taking mock exams.
Focus Areas for 2025
Given the improved pass rates, successful candidates are likely employing more strategic approaches:
Early Registration and Planning: GARP advises early registration to allow for a comfortable study pace
Comprehensive Mock Testing: Practice exams reveal knowledge gaps and improve time management
Balanced Topic Coverage: Avoid over-concentration in comfortable areas at the expense of challenging topics
Career Impact and ROI Analysis
Professional Recognition
More than 25,000 FRM-Certified Professionals are currently employed by every major Chinese financial institution, demonstrating global recognition. The FRM Certification is approved by the Occupational Skill Testing Authority (OSTA) and the Ministry of Human Resources and Social Security (MOHRSS) in China as a National Vocational Qualification Certificate.
2025 Outlook and Recommendations
Realistic Success Probability
Based on current trends, candidates dedicating appropriate study time and employing proven preparation strategies can expect approximately 50-55% probability of first-attempt success. The recent uptick to 56% pass rates suggests this figure may be conservative for well-prepared candidates.
Key Success Factors
Adequate Preparation Time: Budget 275+ hours across 5-6 months
Quality Study Materials: Invest in comprehensive preparation programs
Consistent Practice Testing: Regular mock exams to gauge progress
Balanced Topic Coverage: Strong performance across all four areas
Strategic Review: Focus final preparation on identified weak areas
Conclusion
The FRM Part 1 pass rates for 2025 present an encouraging picture for dedicated candidates. With recent improvements bringing pass rates to decade-high levels around 56%, properly prepared candidates face better odds than historical averages suggest. The key lies in understanding that while pass rates provide useful benchmarks, individual success depends primarily on thorough preparation, strategic study planning, and consistent effort across all topic areas.
The investment in FRM certification continues to offer strong career returns, with global recognition and competitive salary potential. For candidates considering the 2025 exam windows, the combination of improved pass rates and enhanced study resources creates an optimal environment for certification success.
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