Financial Risk Manager (FRM) Exam Preparation Training Course

Course Overview

Learning Objectives

• Analyze the structure, topic areas, and question style of FRM Part I and Part II as defined by GARP and develop a personal study plan on Day 1.
• Apply the foundations of risk management, including risk governance, enterprise risk management, risk appetite, and lessons from major financial risk events.
• Apply quantitative analysis techniques, including probability distributions, statistical inference, regression, time series, volatility estimation, and simulation.
• Analyze financial markets and products, including futures, forwards, swaps, options, fixed income instruments, and foreign exchange.
• Apply valuation and risk models, including bond valuation, duration and convexity, option pricing, the Greeks, value at risk, and stress testing.
• Apply market risk measurement and management techniques, including value at risk, expected shortfall, backtesting, and volatility and correlation modeling.
• Apply credit risk measurement and management concepts, including probability of default, loss given default, exposure at default, expected and unexpected loss, credit portfolio models, counterparty credit risk, and valuation adjustments.
• Analyze operational risk and resilience frameworks, including loss data, scenario analysis, and capital and regulatory approaches.
• Apply liquidity and treasury risk concepts, including funding liquidity, market liquidity, asset and liability management, and liquidity regulation.
• Analyze risk management in investment management, including portfolio risk, performance measurement, and risk budgeting.
• Evaluate current issues in financial markets as identified in GARP's current curriculum.
• Solve exam-style questions accurately under timed conditions and prioritize remaining study through practice test analysis by the end of Day 5.

Who Should Attend

Learning Outcomes

• By the end of the course, participants will be able to:
• Explain the FRM exam structure, topic areas, and question style and follow a realistic study plan.
• Describe core principles of risk governance and enterprise risk management.
• Apply statistical and quantitative methods used in financial risk measurement.
• Explain how key derivatives and fixed income instruments work and how they are valued.
• Calculate duration, convexity, option sensitivities, and value at risk.
• Measure market risk using value at risk and expected shortfall and interpret backtesting results.
• Calculate expected loss and explain key credit risk and counterparty risk concepts.
• Describe operational risk and resilience frameworks and measurement approaches.
• Explain liquidity risk, funding risk, and asset and liability management concepts.
• Apply risk concepts to investment and portfolio management.
• Solve exam-style calculation and concept questions efficiently.
• Identify personal knowledge gaps and focus remaining study time effectively.

Course Outline