FRM Part I registration for the November 2026 window is open — and standard registration closes September 30.
Exam dates: November 14–20, 2026
Format: 100 MCQs, 4 hours, no negative marking
Pass rate: ~47% (November 2025)
If you are a working professional, you have roughly 12 weeks from now to prepare. Here is the plan that works.
The 4 Topics and Where to Spend Your Time
- Financial Markets & Products (30%) — forwards, futures, swaps, options, securitisation, hedging. Highest weight. Start here.
- Valuation & Risk Models (30%) — VaR, bond valuation, duration, convexity, Black-Scholes, Greeks, credit risk models. Master this alongside Markets.
- Quantitative Analysis (20%) — probability, statistics, regression, time series, Monte Carlo simulation. Formula-heavy but predictable.
- Foundations of Risk Management (20%) — frameworks, governance, ERM, risk appetite, case studies (LTCM, Barings). Often underestimated.
Markets and Valuation together = 60% of your exam. Allocate study time accordingly.
The 12-Week Plan
Weeks 1–4: Foundation Building
- Study Markets & Products and Valuation & Risk Models first — 60% weight
- Target 15–18 hours/week (2–2.5 hours weekdays, 4–5 hours weekends)
- Use official GARP readings + a prep provider (Schweser, BT, or QuintEdge)
Weeks 5–7: Quantitative Analysis & Foundations
- Cover the remaining 40% — Quantitative Analysis and Foundations of Risk Management
- Begin topic-wise practice questions (50–70 per topic)
- Start a formula sheet for Quant and Valuation topics
Weeks 8–9: First Mock + Weak-Area Drilling
- Take your first full-length mock exam (4 hours, timed)
- Target score: 60%+ to feel on track
- Identify weak topics from mock results and drill them
Weeks 10–11: Second Mock + Targeted Review
- Take a second full mock
- Focus remaining time on weak areas identified in both mocks
- Practice 15–20 governance questions daily (Foundations)
Week 12: Final Revision + Exam Readiness
- Take a third mock early in the week
- Last 3 days: formula review, flashcards, light practice only
- No new topics in the final week
Calculator Strategy
- GARP permits the TI BA II Plus (including Pro) and HP 12C only
- Use the same calculator throughout your prep — do not switch
- Practice all calculations at exam speed. Time pressure is the #1 reason candidates score below their mock averages
Key Registration Details
- Standard registration deadline: September 30, 2026
- Cost: USD 1,200 (first-time, standard) or USD 1,000 (early, if still available)
- Schedule your PSI test centre early — Mumbai and Delhi NCR slots fill fast
Practice FRM Part I mock exams with realistic exam interface: https://financecertificationprep.in
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