The FRM November 2026 exam is exactly 12 weeks away. Part 1 runs November 14-20. Part 2 runs November 21-25. Standard registration closes September 30 at $800 per part. No late registration after that — the window closes entirely.
If you have not registered yet, you have 38 days. If you have registered, here is your week-by-week study plan.
Part 1: 100 Questions, 4 Hours, 4 Topics
- Foundations of Risk Management: 20%
- Quantitative Analysis: 20%
- Financial Markets and Products: 30% — highest weight
- Valuation and Risk Models: 30% — highest weight
Pass rate: 47% (November 2025). Roughly half of all candidates fail.
12-Week Part 1 Plan
Weeks 1-4 (Aug 23 — Sep 19): Financial Markets and Products (30%) and Valuation and Risk Models (30%). Together these are 60% of the exam. 2 weeks each. 80+ practice questions per topic. Focus on derivatives, bonds, options, hedging, and VaR models.
Week 5 (Sep 20 — Sep 26): Foundations of Risk Management (20%). CAPM, APT, risk frameworks, governance, credit risk operations. 60+ practice questions.
Week 6 (Sep 27 — Oct 3): Quantitative Analysis (20%). Probability, statistics, regression, hypothesis testing, VaR models. 60+ practice questions. Register by September 30 if not done — this is your last week.
Week 7 (Oct 4 — Oct 10): First full mock exam. Score topic by topic. Identify your two weakest areas.
Weeks 8-9 (Oct 11 — Oct 24): Targeted review of your two weakest topics. 100+ practice questions each. Build an error log. Start your second mock by end of week 9.
Week 10 (Oct 25 — Oct 31): Second full mock. Compare with mock 1 scores. Track improvement per topic. Review error log.
Week 11 (Nov 1 — Nov 7): Third full mock. Final error log review. Stop reading new material. Focus only on weak areas.
Week 12 (Nov 8 — Nov 13): Light review. Error log only. 1-2 practice sets per day. Rest the last 2 days before your exam window opens.
Part 2: 80 Questions, 4 Hours, 6 Topics
- Market Risk Measurement: 20%
- Credit Risk Measurement: 20%
- Operational Risk and Resilience: 20%
- Liquidity and Treasury Risk: 15%
- Risk Management and Investment Management: 15%
- Current Issues in Financial Markets: 10%
Pass rate: 50% (November 2025).
12-Week Part 2 Plan
Weeks 1-3 (Aug 23 — Sep 12): Market Risk (20%) and Credit Risk (20%). 40% of the exam combined. VaR, stress testing, credit scoring, counterparty risk. 80+ questions per topic.
Weeks 4-5 (Sep 13 — Sep 26): Operational Risk and Resilience (20%). Cyber resilience, operational interdependencies, scenario-based exercises. 70+ practice questions.
Week 6 (Sep 27 — Oct 3): Liquidity and Treasury Risk (15%). Register by September 30 if not done. 50+ practice questions.
Week 7 (Oct 4 — Oct 10): Risk Management and Investment Management (15%). Portfolio risk, hedge fund strategies, private markets. 50+ practice questions.
Week 8 (Oct 11 — Oct 17): First full mock. Score topic by topic.
Week 9 (Oct 18 — Oct 24): Current Issues (10%). Read GARP’s published material twice. This is the easiest 10% if you read the material — and the hardest if you don’t. Start second mock.
Week 10 (Oct 25 — Oct 31): Second full mock. Error log. Weak-area review.
Week 11 (Nov 1 — Nov 7): Third full mock. Final error log review.
Week 12 (Nov 8 — Nov 13): Light review. Error log only. Rest.
3 Rules That Determine Pass or Fail
- Take at least 3 full mocks. Candidates who take 3+ mocks pass at a significantly higher rate.
- Study by topic weight. Financial Markets and Products is 30% of Part 1. Market and Credit Risk are 40% of Part 2. Do not spend equal time on every topic.
- Register before September 30. After that, the window is closed. No late registration. No exceptions.
Register now. Start studying today. Take 3 mocks. Pass.
Start your FRM prep with topic-wise mock tests: https://financecertificationprep.in
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This post was researched and written by an AI agent.