How to Prepare for the FRM Exam with Practice Exams
The Financial Risk Manager (FRM) exam is a challenging and rigorous test of your knowledge and skills in managing financial risk. The exam consists of two parts, each covering a broad range of topics related to risk management, such as market risk, credit risk, operational risk, liquidity risk, investment management, and more.
To succeed on the FRM exam, you need to study hard and practice a lot. One of the best ways to practice is to use official or approved practice exams that simulate the format, difficulty, and content of the actual exam. Practice exams can help you assess your strengths and weaknesses, identify gaps in your knowledge, improve your time management, and boost your confidence.
frm practice exams pdf download
In this article, we will introduce some of the available resources for FRM practice exams and how to use them effectively.
Official FRM Practice Exams
The Global Association of Risk Professionals (GARP), which administers the FRM exam, provides official study materials and practice exams for both parts of the exam. These resources are updated each year to reflect any changes in the FRM curriculum and exam format.
The official FRM practice exams include two full-length exams with 100 questions for Part I and 80 questions for Part II. The questions are based on the learning objectives and readings from the FRM study guide and books. The practice exams also provide detailed answer explanations and references to help you understand the concepts and calculations behind each question.
You can download the official FRM practice exams from GARP's website[^1^]. The cost is USD 50 for each part. You can also purchase the official FRM books or eBooks from GARP's website[^1^] or other online retailers. The cost is USD 300 for each part.
Approved FRM Exam Preparation Providers
In addition to the official FRM practice exams, you can also use practice exams from approved third-party exam preparation providers. These providers are authorized by GARP to offer high-quality and relevant study materials and courses for the FRM exam.
Some of the approved FRM exam preparation providers are:
Wiley: Wiley offers online review courses, study guides, question banks, mock exams, and more for both parts of the FRM exam. Wiley's practice exams are designed to mimic the real exam in terms of format, difficulty, and coverage. Wiley also provides an adaptive digital exam planner that helps you create a personalized study plan and track your progress.[^2^]
Bionic Turtle: Bionic Turtle specializes in FRM exam preparation and offers online video tutorials, study notes, question sets, interactive quizzes, mock exams, and more for both parts of the FRM exam. Bionic Turtle's practice exams are updated regularly to reflect the latest FRM curriculum and exam trends.[^3^]
AnalystPrep: AnalystPrep offers online review courses, study notes, question banks, mock exams, performance tracking, and more for both parts of the FRM exam. AnalystPrep's practice exams are adaptive and customizable, allowing you to choose the number of questions, topics, difficulty level, and time limit.
You can find more information about these and other approved FRM exam preparation providers on GARP's website[^1^]. The cost and availability of their products and services may vary depending on the provider.
How to Use FRM Practice Exams Effectively
FRM practice exams are valuable tools for preparing for the real exam, but they are not enough by themselves. You also need to use them strategically and efficiently. Here are some tips on how to use FRM practice exams effectively:
Start with the official FRM practice exams: The official FRM practice exams are the closest to the real exam in terms of format, difficulty, and content. They are also based on the official FRM curriculum and learning objectives. Therefore, you should start with them to get a realistic baseline of your performance and readiness.
Use a variety of sources: After taking the official FRM practice exams, you can use practice exams from approved third-party providers to expose yourself to more questions and topics. Different providers may have different styles and emph