All you need to know about FRM Course Eligibility | FRM Course Duration

All you need to know about FRM Course Eligibility

By IIC Lakshya

22 May 2024

FRM Course Eligibility

In an era where financial health is consciously taken care of alongside other aspects of finance, the FRM course, which is the full form for the Financial Risk Manager, is evidently in demand and has become an essential part of organizations globally. Therefore, understanding the FRM Course, whether you are a recent graduate or an experienced professional wanting to expand your career horizon through the FRM course, is a chief element before you embark on the journey of professional growth. Through this blog, we'll lay forth everything you need to know about FRM course eligibility, including what is FRM course, the FRM course duration, and the FRM certification process, so that you can make an informed decision about this most sought-after qualification. 

What is FRM course? 

To understand what is FRM course and what is FRM course duration is, let's start with what it refers to. FRM full form is a Financial Risk Manager program, accredited and governed by the body of the Global Association Of Risk Professionals (GARP) based in the USA. The FRM course is a globally respected and renowned certification that equips individuals with the knowledge and skill set to identify, measure, monitor, and manage various types of risks within organizations, like credit risk, operational risk, market risk, and many others. 

Understanding FRM Course Eligibility 

As we understand what FRM course is, let's move on to knowing everything you need to know about FRM course eligibility set forth by GARP:

  • Educational Qualification

To be eligible for FRM course, candidates must have a bachelor's degree or equivalent qualification from an accredited institution. There is no criteria that the bachelor’s degree shall be from the discipline of finance, economics, mathematics or related fields only; however, it is preferred not mandatory, and candidates can be from any academic background. 

  • Work experience 

The FRM course eligibility also demands a minimum of 2 years of relevant work experience before sitting for the FRM course exams of Part I and Part II. 

Master's Degree Waiver in FRM: Accelerating Your FRM Journey 

Having covered the FRM eligibility criteria for the FRM course, it's important to note that due to the waiver policy offered by the official conducting body of the FRM course, GARP, you can maximize your FRM journey. In this regard, candidates who possess a master's degree in a relevant area concerning financial risk management or related fields can apply for the waiver policy, which allows them to have at least 1 year reduced from the minimum 2- year work requirement.

FRM Certification Process: A Comprehensive Roadmap

Now that we have gone over the basics of the FRM course and the FRM eligibility, let's acquaint you with how the certification process of the FRM course takes place. The certification process of the FRM course is simple and consists of the following steps:

  • Meeting the Eligibility Criteria: You must ensure that before enrolling for the FRM course, you fit the eligibility criteria set by GARP. 
  • Registering with GARP: Once you meet the prescribed FRM eligibility criteria, you need to register yourself on the official website of GARP ( by creating an account. 
  • Enroll for the Program: Afterwards, you can enroll yourself for the FRM course with the required registration fees and choose the part of the examination that you have to appear in, alongside scheduling the testing window that you want to give your exam in(the exam takes place thrice a year in May, August, and November).
  • Examination Period: This step involves the time it takes to prepare and appear for the examination, which is done according to the exam dates released by GARP.
  • Acquisition of FRM Certificate: After the examination, GARP usually announces the FRM exam results within 2 months. If you have qualified for Part 1 and Part 2 sequentially, then you are eligible to obtain your FRM certification. 

FRM Course Duration: Mapping the Timeline to Becoming an FRM 

By going over all the essential elements that come with FRM eligibility, let's go over another important factor of the FRM course, which is the FRM course duration. The FRM course duration varies on many grounds, such as your prior education, work experience, preparatory method, and dedication. While the Global Association of Risk Professionals (GARP) provides the following recommendations:

  • For full-time students, GARP recommends 300 hours of study for each Part 1 and Part 2, which accounts for about 10 months.
  • For working professionals, GARP recommends 400 hours of study for each Part 1 and Part 2 estimating around 14 months. 
  • However, on average, it takes about 1 to 2 years to complete your FRM certification.

Frequently Asked Questions (FAQs) 

Can I do FRM after the 12th? 

No, you cannot pursue an FRM course right after 12th standard or upon completing your high school education, as the FRM course eligibility that is put forth by the Global Association of Risk Professionals (GARP) requires you to hold a bachelor's degree or equivalent approved by an accredited institution. Additionally, a minimum of 2 years of work experience in the relevant field is also mandatory before enrolling for the FRM course. 

Is FRM in demand? 

Yes, the Financial Risk Manager or FRM course is highly in demand and is recognized globally. Presently, in this competitive market, employers have become more conscious of the importance of the role of a Risk Manager to identify, prevent, and monitor financial risks for the holistic growth and success of their organizations. Therefore, employers from every sector, whether private or public, seek after the holders of FRM certification. 

Can FRM be done in 3 months? 

No, the FRM course cannot be completed in 3 months. As the FRM course consists of two parts of examination, Part 1 and Part 2, both of these parts cover an extensive curriculum. Other than this, the testing window is open only thrice a year in May, August, and November. To complete both levels, it will at least require 9 months to 1 year. Furthermore, the official conducting body of the FRM course, GARP, advises you to give sufficient time for your exam preparation and not rush through, to maintain the quality and comprehension of the subject matter. 

Is there any age limit for FRM? 

No, there is no particular age limit for pursuing the FRM course. Anyone of any age can enroll for the FRM course and acquire its certification, as long as they meet the prescribed FRM eligibility criteria in terms of both educational background and work experience requirements. 

Is a calculator allowed in FRM?

Yes, calculators are allowed during your FRM examinations. However, only battery-powered, non-programmable calculators are allowed. 

What is the mode of the FRM exam? 

The FRM course examinations are conducted through CBT (Computer-based Testing) for both Part 1 and Part 2.

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