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Financial Risk Manager (FRM) Syllabus
Risk-management credential from the Global Association of Risk Professionals (GARP) earned via two exam parts.. The complete Financial Risk Manager (FRM) outline — 8 subjects, 43 chapters and 167 topics — laid out so you can see exactly what has to be covered and tick each item off as you go.
Financial Risk Manager (FRM) subjects
Each subject below has its own page with the full chapter → topic → sub-topic tree and a set of real exam-style flashcards.
5 chapters · 20 topics · 19 sub-topics
Quantitative Analysis6 chapters · 21 topics · 24 sub-topics
Financial Markets and Products6 chapters · 24 topics · 14 sub-topics
Valuation and Risk Models6 chapters · 23 topics · 14 sub-topics
Market Risk Measurement and Management5 chapters · 20 topics · 11 sub-topics
Credit Risk Measurement and Management5 chapters · 20 topics · 10 sub-topics
Operational, Liquidity, and Integrated Risk Management5 chapters · 20 topics · 8 sub-topics
Current Issues and Investment Risk5 chapters · 19 topics · 8 sub-topics
Financial Risk Manager (FRM) flashcard decks
443 question-and-answer cards across 8 decks, written against this syllabus. Preview any deck free.
- Foundations of Risk Management — 50 cards
- Quantitative Analysis — 51 cards
- Financial Markets and Products — 59 cards
- Valuation and Risk Models — 60 cards
- Market Risk Measurement and Management — 60 cards
- Credit Risk Measurement and Management — 61 cards
- Operational, Liquidity, and Integrated Risk Management — 51 cards
- Current Issues and Investment Risk — 51 cards
How to work through the Financial Risk Manager (FRM) syllabus
The outline on this page is arranged the way the syllabus itself is: subject, then chapter, then topic, then sub-topic. That last level is what most study plans skip, and it is where coverage actually goes wrong — a chapter marked "done" often has three sub-topics inside it that were never touched.
Weight your plan accordingly: Financial Markets and Products carries 24 topics while Current Issues and Investment Risk carries 19. Giving both the same number of weeks is the most common planning mistake for Financial Risk Manager (FRM).
The ~145 hour estimate above is a first pass only: roughly 45 minutes per topic plus 12 minutes per sub-topic. Revision cycles, past papers and mocks sit on top of that number.
Financial Risk Manager (FRM) syllabus FAQ
What subjects are in the Financial Risk Manager (FRM) syllabus?
Financial Risk Manager (FRM) covers 8 subjects: Foundations of Risk Management, Quantitative Analysis, Financial Markets and Products, Valuation and Risk Models, Market Risk Measurement and Management, Credit Risk Measurement and Management, Operational, Liquidity, and Integrated Risk Management and Current Issues and Investment Risk. Together they contain 43 chapters and 167 named topics.
How many topics does the Financial Risk Manager (FRM) syllabus contain?
The full Financial Risk Manager (FRM) outline breaks down into 43 chapters, 167 topics and 108 sub-topics. Financial Markets and Products is the largest single subject with 24 topics across 6 chapters.
How long does it take to cover the whole Financial Risk Manager (FRM) syllabus?
Roughly 145 hours for one full pass. That estimate allows about 45 minutes per topic plus 12 minutes per sub-topic, so it is first-pass coverage — revision, past papers and mock tests sit on top of it. At 3 hours a day that is about 7 weeks.
Are there Financial Risk Manager (FRM) flashcards?
Yes — 443 question-and-answer flashcards across 8 decks, one per subject, written against this syllabus. A sample of every deck is readable on this site for free, and the complete decks are in the Examius app.
Is this Financial Risk Manager (FRM) syllabus free to use?
Yes. Every page here is free to read, and importing the Financial Risk Manager (FRM) syllabus into the Examius app to tick off topics as you finish them is free too, in United States and everywhere else. No account is needed to start.
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