What is the content of the FRM exam, and what is the content of the FRM exam

The content of the FRM exam includes Introduction to Risk Management, Quantitative Analysis, Financial Markets and Financial Products, Pricing and Risk Modeling, Market Risk Measurement and Management, Credit Risk Measurement and Management, Operational Risk Measurement and Management, Investment Risk, Accounting, Law and many other contents. The Level 1 exam covers the basic concepts of risk management, quantitative analysis and valuation and analysis of financial products in the global financial markets. The Level 2 exam mainly examines the practical content of market risk, credit risk, operational risk and comprehensive risk management, focusing on the measurement and management of risk.

At the same time, it has increased the examination of current hot issues in the financial market.

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FRM Level 1 Exam Content:

The Financial Risk Manager level also focuses on options, bond valuations, and market risk (e.g., VAR) in valuation and risk models each year. The first two parts have a lot of calculations, especially the quantitative analysis part, there are many models, and it is necessary to understand more. Get free preparation materials for the 2022 FRM (trial course + past papers + exam syllabus, etc.).

It mainly examines the basic content of financial risk management, including the basic content of financial risk management, quantitative analysis, financial markets and products, and the comprehensive application of valuation and risk modeling. This examinees candidates' valuation and risk control of financial markets and products, especially derivatives.

The Level 1 Financial Risk Manager exam mainly focuses on financial markets and products and valuation and modeling, accounting for 60% of the weight. To enable candidates to have a basic understanding of financial products and reasonable control of major financial risks.

The Financial Risk Manager Level 2 exam focuses on the application of the tools obtained in the Financial Risk Manager Level 1.

Among them, the key subjects of the second level of financial risk managers are: market risk, credit risk and operational risk. In fact, in the part of market risk management, there are still calculation questions, so don't take it lightly.

Then the credit risk part cannot escape the calculation, and there is a large number of models in the PD measurement of the probability of default. And then there's the operational risk, which looks at how operational risk is measured, and the Basel Accord is part of that.

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FRM generally refers to financial risk managers, which are the top authoritative international qualifications in the field of financial risk management, established by the Global Association of Risk Professionals (GARP) in the United States. GARP helps the risk community make more informed risk decisions by "creating a culture of risk awareness." FRM certification is organized by GARP propositions, exams and certificates, which focuses on the introduction of the necessary knowledge system of risk management analysis and decision-making, and adopts an all-English exam.

FRM is approved as a National Vocational Qualification Certificate in China by the Ministry of Human Resources and Social Security and is supervised by the Vocational Skills Appraisal Center.

There are two levels of the FRM exam:

The content of the FRM Level 1 exam focuses on basic theoretical knowledge of financial instruments, the basics of the instant market and its detailed definition, and the methodology for measuring risk. Ensure that FRM candidates understand the knowledge of basic financial instruments that need to be understood as a successful FRM charter holder. Exams focus more on conceptual understanding than practicality.

The content of the FRM Level 2 exam emphasizes the relevant concepts of the application of financial risk management, and focuses more on testing the candidate's ability to apply financial instruments on the basis of the FRM Level 1.

1. FRM test subjects.

The FRM Level 1 mainly includes Risk Fundamentals, Quantitative Analysis, Financial Markets and Products, Valuation and Risk Models. FRM Level 2 mainly includes market risk, credit risk, operational risk, investment risk, and financial hotspots.

2. FRM exam registration.

When registering for the exam, first log in to the official website of the association, complete your personal information, then verify, set the corresponding password, and then enter the registration page, you need to fill in the corresponding registration information, complete the registration and payment, and the registration is considered successful only after the payment is completed.

The FRM Level 1 exam consists of four subjects: "Fundamentals of Risk Management", "Quantitative Analysis", "Financial Markets and Financial Products", and "Risk Modeling", which focus on tools for assessing financial risk.

The subjects of the FRM Level 2 exam include: "Market Risk Management and Measurement", "Credit Risk Management and Measurement", "Operational and Comprehensive Risk Management", "Investment Risk Management", and "Frontier Topics in Financial Markets", focusing on the application of the tools obtained at Level 1.

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What do I need to pay attention to when applying for FRM?

1. Knowledge of English.

The FRM test does not have an English subject, but the FRM test is conducted in English, and even if the GARP official understands that not every FRM candidate's native language is English.

2. Mathematical knowledge.

The FRM exam involves the examination of mathematical knowledge, and its difficulty is roughly similar to the difficulty of mathematics for postgraduate entrance examination for finance majors, so it is recommended that the mathematics level of candidates can be improved to the level of mathematics that can pass the postgraduate entrance examination for finance majors.

3. Knowledge of financial risk management.

There are two levels of FRM exam, namely FRM Level 1 Exam and FRM Level 2 Exam, FRM Level 1 exam subjects include risk management basics, quantitative analysis, valuation and crack risk modeling, financial markets and financial products, FRM Level 2 exam subjects include market risk management and measurement, credit risk management and measurement, operation and comprehensive risk management, liquidity risk management, investment risk management, and financial market frontier topics. Candidates can prepare for the exam in combination with the subjects of the FRM exam.

How much does it cost to register for FRM?

The registration fee for the FRM Financial Risk Manager is divided into 3 parts. First of all, the first fee generated by the exam is not the exam registration fee, but the registration fee generated by the registration official website, FRM candidates need to register for an official website when registering for this exam, and they can register for the exam only after successful registration, the registration fee is $400, and the validity period of the first successful registration is 4 years. The second fee is the registration fee, but it is divided into two cases, the first is the early bird** fee of $550, and the second is the standard**, the fee is $750, if you want to enjoy the early bird price, you need to register and pay within the specified time.

Finally, there's a datefee, which costs $10 and is charged once. In addition, from 2018 onwards, you will need to pay $40 for each FRM exam, and if you take the FRM level 1 and 2 at the same time, you only need to pay a venue fee of $40 once, which is also a fixed fee and will not change with the change of the time of destruction.

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