Short answer
Yes, candidates may take both in the same window, but Part II is only graded if you pass Part I.
FRM Exam Topics
| Part I | Part II |
|---|---|
| Foundations of risk management (20%) | Market risk measurement and management |
| Quantitative analysis (20%) | Credit risk measurement and management |
| Financial markets and products (30%) | Operational risk and resilience |
| Valuation and risk models (30%) | Liquidity and treasury risk; risk management and investment management; current issues |
USA FRM Exam: Quick Facts
- Offered by
- GARP
- Part I
- 100 questions, 4 hours
- Part II
- 80 questions, 4 hours
- Windows
- May, August, November
- Enrollment fee
- $400 (one-time)
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