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The GARP Financial Risk Management (FRM) Exam GARP FRM cheatsheet


Global Association of Risk Professionals - GARP’s stated mission

Ø  Career Development through professional education and training

Ø  Setting, testing and certification standards

Ø  Risk management – expertise, insight and information collation

Ø  Networking within industry

Financial Risk Managers

GARP is a non-profit nodal agency for Certification of Financial Risk Managers – FRM or GARP FRM Certificate, Energy Risk Managers – ERM, International Certificate in Banking Risk and Regulation (ICBRR) and the Certificate in Risk Management for Islamic Financial Institutions.

The FRM Exam is a standardized global exam for risk managers. The exam is a practice oriented exam, honing skills and knowledge to tackle the complex world of high finance. The exam proper is a multi choice pencil and paper exam of two parts, held twice every year in May and November.While, there are no penalties for incorrect answers, a committee decides on passing scores. Candidates who do not clear Part 1 are not evaluated on their Part 2. Exam results are posted 6 weeks after the exam. A complete knowledge of exam format and use of only GARP approved calculators is essential.

The first requisites for GARP FRM examinee is a top quality Financial Risk Management Handbook.

The FRM EXAMneeds to be approached systematically.The Financial Risk Management Handbook should be procured only from an approved FRM material provider.

TheFRM Bookis your base line asset, while planners, questionnaire banks and GARP FRM Cheatsheets are the next phase, after a basic knowledge of the course material has been achieved.

The Role of an FRM is to manage risk, investments or money. This professional designation makes you stand out among your peers and enhances you career prospects immensely. The specialized knowledge and skills gained are much sought after by the Financial Services Industry. Top Banks in particular, have the need for several FRM’s on their roles.

Preparation for an FRM exam provides useful and practical knowledge to better manage your own job on a daily basis. Professionals update the exam twice a year with current market place practices and issues, as such you are kept regularly abreast of events, practices and solutions.

Managing real world issues is the route to professional excellence. Networking, within the community, is a sure way; to achieve your lifelong ambitions. Maintaining ethical principles will ensure you do not fall into pitfalls and traps.

Forming or joining a study group for exchange of ideas and obtaining tips is an option you need to consider.

Schweser Notes FRMis a must for FRM candidates. Schweser’s sample variance formulae are the gold standard.


For a student of GARP FRM it is important to note who GARPers are. An acronym of GARP – Growth At Reasonable Price, is an investing strategy based on value and growth. Identifying companies based on certain criteria, viz. picking undervalued companies based on low Price / Equity or P/E ratio.

Just as it is important as to know the FRM Bookand the Schweser Notes FRM are complimentary. On the other hand it is important to be aware that Kaplan Schweser in an institute for finance professionals.


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