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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 full Financial Risk Manager (FRM) syllabus: 8 subjects, 43 chapters, 167 topics and 108 sub-topics, with 443 flashcards written against it.
Financial Risk Manager (FRM) subjects
Financial Risk Manager (FRM) has 8 subjects. Each one is listed below with its chapters in syllabus order; open a subject for every topic and sub-topic inside them.
Foundations of Risk Management
- The Role and Building Blocks of Risk Management · 4 topics
- Corporate Governance and the Risk Function · 4 topics
- Modern Portfolio Theory and Risk-Adjusted Return · 4 topics
- Lessons from Financial Disasters and Crises · 4 topics
- Ethics and the GARP Code of Conduct · 4 topics
Quantitative Analysis
- Probability and Random Variables · 3 topics
- Common Probability Distributions · 4 topics
- Statistical Inference and Hypothesis Testing · 3 topics
- Regression Analysis · 4 topics
- Time Series Analysis and Volatility Modeling · 4 topics
- Simulation and Numerical Methods · 3 topics
Financial Markets and Products
- Derivative Markets and Structures · 4 topics
- Futures and Forwards · 4 topics
- Swaps · 4 topics
- Options · 4 topics
- Fixed Income Securities and Markets · 4 topics
- Commodities, Currencies, and Funding · 4 topics
Valuation and Risk Models
- Measuring Value at Risk (VaR) · 3 topics
- Approaches to VaR Estimation · 4 topics
- Fixed Income Risk Measurement · 4 topics
- Option Valuation and the Greeks · 4 topics
- Credit Risk and Country Risk Models · 4 topics
- Operational Risk and Stress Testing Foundations · 4 topics
Market Risk Measurement and Management
- Advanced VaR and Risk Measures · 4 topics
- Fixed Income and Term Structure Risk · 4 topics
- Mortgage and Securitized Products Risk · 4 topics
- Volatility, Correlation, and Trading Risk · 4 topics
- Regulatory Capital for Market Risk · 4 topics
Credit Risk Measurement and Management
- Credit Risk Fundamentals and Structural Models · 4 topics
- Counterparty Credit Risk · 4 topics
- Credit Derivatives and Structured Credit · 4 topics
- Portfolio Credit Risk and Capital · 4 topics
- Credit Risk Mitigation and Stress · 4 topics
Operational, Liquidity, and Integrated Risk Management
- Operational and Resilience Risk · 4 topics
- Liquidity Risk Management · 4 topics
- Model Risk and Stress Testing · 4 topics
- Risk Capital, Performance, and Allocation · 4 topics
- Basel Regulation and the Regulatory Landscape · 4 topics
Current Issues and Investment Risk
- Investment and Portfolio Risk Management · 4 topics
- Hedge Funds and Alternative Investments · 4 topics
- Climate and Emerging Risk · 3 topics
- Technology, Data, and Machine Learning in Risk · 4 topics
- Financial Innovation and Market Structure · 4 topics
Financial Risk Manager (FRM) flashcards
443 question-and-answer cards across 8 subject decks, each shown in full on its subject page.
- 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
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.
How many chapters and topics are in the Financial Risk Manager (FRM) syllabus?
43 chapters and 167 topics, broken down further into 108 sub-topics, across 8 subjects. Financial Markets and Products is the largest subject, with 24 topics in 6 chapters.
Are there Financial Risk Manager (FRM) flashcards?
Yes — 443 question-and-answer flashcards in 8 subject decks. Each deck is printed in full on its subject page here, and the same cards are in the Examius app with spaced repetition. The free plan covers one exam of your choice, including its flashcards; Examius Pro, a one-time purchase, unlocks every other exam and deck.
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