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FRM Financial Risk Manager Practice Test

Maintained and Updated as of 2023

Practice Quiz presents 75+ questions for Financial Risk Certification exams

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The Financial Risk Manager (FRM) certification exam is administered by the Global Association of Risk Professionals (GARP) biannually in May and November. The exam is oriented to those interested in careers involving managing risk, money, and investments. The exam is administered in two parts and the entire exam period is 4 hours long. Part I contains 100 multiple choice questions and Part II contains 80 multiple choice questions. Exam results are either “pass” or “fail.”


Part I topic breakdown:

  • Quantitative Analysis (20%)
  • Foundations of Risk Management (20%)
  • Financial Markets and Products (30%)
  • Valuation and Risk Models (30%)


Part II topic breakdown:

  • Market Risk (25%)
  • Credit RIsk (25%)
  • Operational Risk (25%)
  • Risk Management and Investment Management (15%)
  • Current Issues in Financial Markets (10%)

This free practice exam features 94 essential questions that will help you not only review key risk management concepts, but also familiarize yourself with the FRM exam format.

Disclaimer: This content is provided for informational purposes only. It has not been edited, fact checked or updated. This content is neither affiliated nor endorsed by the GARP. These questions were written by a third party test prep company and licensed by PracticeQuiz for use on this site. Please use at your own discretion.

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