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Description
The Financial Risk Manager (FRM®) designation is the globally recognized benchmark for those who manage risk in corporate finance. FRM®- Level 1, a certification offered by GARP (Global Association of Risk Professionals), is a base-level qualification for risk management professionals. This certification gives a solid footing in the principles of analyzing, controlling, or assessing potential credit risk, market risk, and liquidity risk as well as non-market related financial risks.
The FRM® Level 1 Exam is a challenging and practice-oriented exam, which calls for systematic and comprehensive study methodology to ensure success. The exam covers key areas of financial risk management presented in the context of real-world scenarios. To ace the exam, candidates need to be thoroughly grounded in the skills and knowledge needed to survive in today's complex financial landscape. KnowledgeHut’s training will help you aim for a first time pass of the exam.
What you will learn:
The workshop and the subsequent FRM® certification will help you:
- Become recognized across the globe as a leader in financial risk management
- Increase your career opportunities and enhance your earning potential
- Expand your knowledge and understanding of the latest financial risk concepts
- Develop your personal and professional opportunities within the world of finance
- Add to your credibility and respect from employers, peers, and clients
- Grow your global networking connections to over 26,000 FRM® holders in 136 countries across the globe.
You will also get:
- High quality training from an industry expert
- 50 PDUs
- Downloadable e-book
Key Features
Certification
Prerequisites:
There are no prerequisites to attend the workshop or to appear for the exam.
Certification:
In order to be certified as a Financial Risk Manager (FRM®) and be able to use the FRM acronym after your name, the following are required:
- A passing score on both Part I and Part II of the FRM® Examination
- A minimum of two years professional full-time work experience in the area of financial risk management or another related field including, but not limited to, trading, portfolio management, faculty academic, industry research, economics, auditing, risk consulting, and/or risk technology
- Active Fellow Membership in GARP
The Exam:
The FRM® Exam is a pencil and paper multiple choice exam given in two parts. It is offered exclusively in English, in May and November every year.
The FRM® Exam Part I focuses on the essential tools and concepts required to assess financial risk. There will be 100 questions in the exam (on 4 topics), which will need to be completed in 4 hours’ time.
| Topics | Weightage in FRM® Level 1 Exam |
| Quantitative Analysis | 20% |
| Financial Markets and Products | 30% |
| Valuation and Risk Models | 30% |
| Foundations of Risk Management | 20% |
The questions are multiple choice and there will be no negative marking. Candidates must pass Part I of the FRM® Exam in order to have Part II graded.
For more details, visit GARP’s FRM Exam Format Webpage.
Curriculum
Modules covered:
- Valuation and Risk Module-Introduction To VAR
- Quantitative Analysis-Probability Distribution
- Valuation and Risk Module-Option, Option Strategy and Valuation
- Introduction (Option, Futures and Other Derivatives)
- Mechanics of Futures Markets
- Hedging Strategies Using Futures
- Interest Rates
- Determination of Forward and Futures Prices
- Interest Rate Futures
- Swaps
- Properties of Stock Options
- Trading Strategies Involving Options
- Commodity Forwards and Futures
- Fundamentals of Commodity Spot and Futures Markets: Instruments, Exchanges and Strategies
- Foreign Exchange Risk
- Bond Prices, Discount Factors and Arbitrage
- Bond Prices, Spot Rates, and Forward Rates
- Yield to Maturity
- One-Factor Measures of Price Sensitivity
- Binomial Trees
- The Black-Scholes-Merton Model
- Greek Letters
- Measures of Financial Risk
- Putting VAR to Work
- Operational Risk
- Extending the VAR Approach to Operational Risk
- Stress Testing
- Principles for Sound Stress Testing Practices and Supervision
- Rating Agencies
- External and Internal Ratings
- Country Risk Models
- Sovereign Risk
- Loan Portfolios and Expected Loss
- Unexpected Loss
- Review of Probability
- Discrete Probability Distributions
- Continuous Probability Distributions
- Hypothesis Testing
- Correlation Regression
- Multiple Regression
- Monte Carlo
- Estimating correlation and volatility
- Quantifying Volatility in VAR Models
- Foundations of Risk Management
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Frequently Asked Questions
The Financial Risk Manager (FRM®) designation is a globally recognized standard for those who manage risk. FRM®- Level 1, a certification offered by GARP (Global Association of Risk Professionals), is a base-level qualification for risk management professionals. This certification gives a firm footing in the principles of analyzing, controlling, or assessing potential credit risk, market risk, and liquidity risk as well as non-market related financial risks. The FRM® Level 1 Exam covers key areas of financial risk management presented in the context of real-world scenarios. To pass the exam, candidates need to be thoroughly grounded in the skills and knowledge needed to survive in today's complex financial landscape. FRM® holders perform a range of functions related to risk management within investment banks, asset management firms, as well as in corporations and government agencies. Certified FRMs who have successfully completed the rigorous FRM® programme are much valued by top employers across a range of businesses.
FRM® holders perform a range of functions related to risk management within investment banks, asset management firms, as well as in corporations and government agencies. Certified FRMs who have successfully completed the rigorous FRM® programme are much valued by top employers across a range of businesses.
This course is currently not available in a purely virtual format. Please check for updates.
You can appear for the exam even without the required work experience but remember that in order to get the certification and practice, you must pass the exam and gain the stated work experience.
If one passes the FRM exam (Full exam or both Part-1 and Part-2) but does not have the 2 years of relevant work experience, GARP issues a letter stating that the candidate has passed the FRM exam. The candidate will be considered as "FRM Holder" but not "Certified FRM Holder". The FRM certification will be conferred after the candidate submits proof of 2-years work experience to GARP, and receives confirmation from GARP that the candidate has been formally included on its registry of certified FRM holders.
Candidates are entitled to use the statement "FRM Program: Passed Parts I & II" in their resume.
Yes, you must aim to gain FRM Part II within 4 years from the date when you passed the FRM Part I exam. Also you have 5 years from the date you passed the FRM Exam Part II to have your work experience verified.
You will receive 50 PDUs
PDUs are credits awarded by the Project Management Institute and recognize your dedication to project management best practices. PDUs are offered by the PMI®, and every PMI® certification, except the CAPM®, requires you to earn a specific number of PDUs per three-year certification cycle.
In order to appear for the FRM exams, you have to first register with www.garp.org. The fees are different depending on when the candidate has enrolled and as what. The following link will give you all the details: https://www.garp.org/#!/frm/fees-payments
KnowledgeHut will give you comprehensive courseware in the downloadable format. Free exam study guides are also available from GARP but if you want official books from GARP then you have to pay for them.
GARP requires certified individuals to gain and maintain Continuing Professional Development (CPDs) to meet the career demands of a FRM® and stay up-to-date.
For more information check: http://www.garp.org/#!/cpd
Remember that GARP does not provide refunds for either the Exam Enrolment or Exam Registration Fee.
Any registration cancelled within 48 hours of the initial registration will be refunded in FULL (please note that all cancellations will incur a 5% deduction in the refunded amount due to transactional costs applicable while refunding). Refunds will be processed within 30 days of receipt of written request for refund. Kindly go through our Refund Policy for more details: http://www.knowledgehut.com/refund
Please send in an email to support@knowledgehut.com, and we will answer any queries you may have!
An indicative mix of participants would include:
- Analytics Client Consultants – Risk Management Analytics
- Risk Managers, Personal Banking
- Corporate Risk – Managing Directors – COO & Risk Officers for Global Asset Liability Management
- Risk Quantification Managers
- Managers, Operational Risk Advisory and Oversight for Wealth Management
- Large Enterprise Commercial Risk Managers
- Senior Operational Risk Managers
- Credit Risk Specialists
- Market Risk Specialists
- Operational Risk Analysts
- Regulatory Risk Analysts
- Prudential Risk Managers
- Enterprise Risk Managers