FRM Training for Part I and Part II
What Is FRM?
FRM stands for Financial Risk Manager. It is a professional financial-risk certification administered by GARP, the Global Association of Risk Professionals. Candidates must pass Part I and Part II and meet GARP’s relevant full-time work-experience requirement before using the FRM designation. GARP reports more than 100,000 certified professionals globally.
Prepare for the Financial Risk Manager (FRM) exams with clear teaching, structured practice and individual feedback. Choose Part I, Part II or a plan covering both, with 80+ hours of live faculty-led training for each part.
EduDelphi has supported learners in Singapore for 13+ years. Our FRM course combines experienced finance faculty, Kaplan Schweser study materials, an AI-supported LMS and continued help during revision. Study in a Singapore classroom, join live online or arrange private training around your needs.
Start with the foundations
FRM Part I Course
Build the tools used to understand and measure financial risk: risk foundations, quantitative analysis, financial markets and products, valuation and risk models.
- 80+ live faculty-led hours.
- Worked calculations, formula guidance and calculator practice.
- Topic questions, multiple full mocks and individual feedback.
- Preparation for a 100-question, four-hour examination.
Apply risk tools to decisions
FRM Part II Course
Develop your understanding of market, credit, operational, liquidity and investment risk, alongside current issues in financial markets.
- 80+ live faculty-led hours.
- Applied cases and guidance on close answer choices.
- Multiple full mocks, mistake review and focused revision.
- Preparation for an 80-question, four-hour examination.
The combined course provides 160+ live hours across both parts. EduDelphi provides exam preparation; GARP owns the FRM examinations and awards the credential after its requirements are met.
What Is Included in Your FRM Course?
Classes are only one part of your preparation. Your course also gives you organised study resources, extensive practice and faculty support for your chosen FRM part.
Live Teaching & Recordings
Learn with faculty, ask questions and revisit recorded explanations when a topic needs more time.
Kaplan Schweser Materials
Use Kaplan Schweser study materials alongside EduDelphi teaching and resources for your chosen part.
Your FRM LMS
Find notes, formula sheets, mind maps, infographics, visual summaries, a glossary, study planners, AI study support and more in one place.
Practice & Multiple Mocks
Work through topic questions, calculation drills, mixed practice and full-length timed mocks with explanations.
Feedback & Revision
Get individual error review, tutor feedback, targeted follow-up practice, revision batches and live doubt-clearing.
Exam Preparation Support
Build confidence with a maths refresher, calculator guidance, study planning and help understanding GARP registration.
Faculty help continues while you prepare for your exam. Bring difficult questions to live support, review recurring mistakes and focus your next study session on what needs improvement.
A Clear Way to Learn, Practise and Improve
Our LMS keeps the resources for each part organised, so you can find an explanation, practise the topic and return to it during revision.
Learn
Follow live teaching, recordings and study materials. Use notes, visual explanations and the AI study assistant to work through difficult concepts.
Practise
Move from topic questions and calculations to mixed sets and multiple timed mocks. Read the explanations, including why other choices are less suitable.
Improve
Review mistakes with faculty. Revisit weaker topics and use fresh practice to check whether your understanding has improved.
Meet Your FRM Faculty
Learn with experienced faculty who connect risk concepts with finance decisions and help you understand how questions are tested.
Shyam Sarrof
CPA (USA), CMA (USA), ACA, ACMA, CS, CFA, ACTM, MBA, B.Com (H)
22+ Years in Finance, Treasury, Risk, Controls & Advisory
Shyam brings experience across finance, treasury, controls, reporting and risk-informed decision-making. For Singapore learners, he connects the curriculum with banking, asset management, wealth management, fintech, regional treasury and multinational finance teams.
His sessions make market, credit, liquidity and operational risk, fixed income, derivatives, valuation and stress testing easier to understand by focusing on the decision behind the calculation. He helps candidates identify the relevant risk driver and distinguish between close answer choices.
Avijit Goswami
FRM, CPA (USA), CMA (USA), FCS, FCMA, LLB, M.Com
Senior FRM Faculty | Risk, Finance & Exam Preparation
Avijit takes a structured, exam-focused approach to Part I and Part II. His sessions cover quantitative analysis, financial markets, valuation and the major risk areas, with emphasis on interpretation, calculation accuracy, mock analysis and time management.
He identifies why an answer went wrong: understanding the concept, choosing a formula, interpreting the question, calculating or making a judgement. That review guides the next stage of practice and revision.
FRM Part I and Part II Syllabus
The tables below show the 2026 syllabus and approximate exam weights. Part I develops the tools; Part II applies them to financial-risk decisions.
Preparing for a 2027 Exam?
GARP reviews the curriculum annually and releases the next year’s materials on 1 December. Candidates preparing for May 2027 or later 2027 exams should use the 2027 curriculum after its release on 1 December 2026. The 2026 topics and readings below should not be treated as the confirmed 2027 syllabus.
Part I: Four Core Areas
| Area | 2026 Approximate Weight | What You Study |
|---|---|---|
| Foundations of Risk Management | 20% | Risk types, governance, risk appetite, portfolio theory, asset-pricing models, enterprise risk and professional conduct. |
| Quantitative Analysis | 20% | Probability, distributions, estimation, hypothesis testing, regression, time-series analysis and simulation. |
| Financial Markets and Products | 30% | Financial institutions, market structures, bonds, forwards, futures, swaps, options and hedging. |
| Valuation and Risk Models | 30% | Interest-rate risk, valuation, value at risk, expected shortfall, credit risk and stress testing. |
Teaching focus: understand the assumptions, select the right method, calculate accurately and interpret the answer. Formula recall without application is not enough.
Part II: Six Applied Risk Areas
| Area | 2026 Approximate Weight | What You Study |
|---|---|---|
| Market Risk Measurement and Management | 20% | Market-risk measures, models, volatility, correlations, model limitations and stress scenarios. |
| Credit Risk Measurement and Management | 20% | Default risk, counterparty exposure, credit analysis, credit portfolios and risk transfer. |
| Operational Risk and Resilience | 20% | Operational-risk frameworks, resilience, model risk, controls, governance and business disruption. |
| Liquidity and Treasury Risk Measurement and Management | 15% | Funding and market liquidity, liquidity stress, balance-sheet management and treasury decisions. |
| Risk Management and Investment Management | 15% | Portfolio risk, investment processes, risk budgeting and performance evaluation. |
| Current Issues in Financial Markets | 10% | The required GARP readings for your examination year and their implications for risk management. |
Teaching focus: connect the risks, assess the assumptions and select the most appropriate response to the scenario. For 2026 exams: GARP’s current-issues readings include AI, private credit, geopolitical risk, rising government debt, crypto/digital assets and digital resilience. Candidates preparing for 2027 should use the 2027 curriculum after GARP releases it on 1 December 2026.
Check the current GARP learning objectives and study materials and required Part II readings. Do not assume an older reading list applies to a later examination year.
FRM Study Options in Singapore
Choose a format that fits your work and starting knowledge. We help you plan the topics, practice and revision for the part you are taking.
Singapore Classroom
Instructor-led learning with opportunities to work through calculations, discuss scenarios and ask questions in person.
Live Online
Join faculty-led sessions from Singapore, with recordings and LMS resources to support study between classes.
Private & Supported Self-Paced
Arrange individual tuition or study through recordings and the LMS with live faculty support. Revision-only preparation is also available.
Plan Around Your Exam, Not Just Your Classes
A typical plan runs around four to five months per part. Your starting knowledge, work commitments and progress determine the pace. Budget independent reading, question practice and revision alongside the 80+ live hours.
We help you organise a weekly roadmap, catch up after missed study and prioritise weaker topics as the exam approaches.
Maths Refresher & Calculator Support
Refresh the quantitative skills needed for the course and practise using an approved financial calculator. Faculty walk through inputs, signs, percentages and common calculation errors.
GARP does not provide formula sheets in the exam. Our resources help you understand when a formula applies, not simply memorise it.
GARP describes substantial independent preparation in its programme and exam guidance. Live tuition hours are not a substitute for your own practice.
Multiple Mocks, Individual Feedback and Revision
A mock score should tell you what to do next. Our preparation includes multiple full-length mocks, detailed explanations and individual review, followed by practice directed at your weaker areas.
Check Your Starting Point
Use topic practice to identify gaps in concepts, calculations and question interpretation before attempting a full timed paper.
Practise Under Exam Conditions
Complete mixed sets and full mocks. Build pacing across a four-hour examination and learn when to move on from a difficult question.
Review and Rebuild
Discuss repeated errors with faculty. Use targeted revision and fresh practice to strengthen understanding rather than memorise familiar answers.
How Much Study Time Should I Budget?
80+ live hours per part is not your entire preparation commitment. GARP reports an average of roughly 240 hours of exam preparation, with surveyed candidates ranging from under 100 to over 400 hours. Plan reading, question practice, revision and mocks alongside your live classes. Your background and progress determine the time you need for each part.
This is planning guidance, not a compulsory minimum or a combined two-part course total. GARP’s published figure comes from its May 2015 candidate survey, not a new 2026 study. See GARP’s preparation-time guidance.
Try an Original FRM Practice Question
A Singapore lender has an exposure at default of S$5 million. Assume a one-year probability of default of 2% and loss given default of 40%. What is the expected loss?
A. S$20,000 B. S$40,000 C. S$100,000 D. S$2 million
Answer: B, S$40,000.
Expected loss = exposure at default × probability of default × loss given default.
S$5,000,000 × 0.02 × 0.40 = S$40,000.
The 2% probability must be entered as 0.02. S$100,000 ignores recovery; S$2 million assumes default has already occurred. In applied risk work, also consider whether the probability, recovery and exposure assumptions remain suitable under stress.
FRM Exam, Eligibility and Certification
You can register for FRM without a formal education or work-experience prerequisite. Passing both exams and earning the credential are separate steps.
| Exam Fact | Part I | Part II |
|---|---|---|
| Questions | 100 multiple-choice questions | 80 multiple-choice questions |
| Time | 4 hours | 4 hours |
| Delivery | Computer-based examination at an authorised test centre | |
| Singapore exam language | English | |
| Result | Pass/fail, with relative topic-performance information; GARP normally provides results within eight weeks after the window closes | |
| Fixed pass mark? | GARP does not publish one universal percentage pass mark to use as a guaranteed target | |
How You Become FRM Certified
- Pass Part I. Build the risk tools and foundations.
- Pass Part II. GARP requires this by 31 December of the fourth year after passing Part I.
- Submit qualifying experience. GARP requires two years of relevant full-time professional experience and reviews the submission before awarding certification.
Passing the exams alone does not make you an FRM-certified professional. Relevant work involves identifying, measuring, monitoring or managing financial risk; the responsibilities matter more than the job title.
Policies and experience-submission rules are set by GARP. Review the current FRM certification requirements and exam policies.
Planning Your Next FRM Exam
Official dates checked: 10 October 2026.
November 2026 Registration Is Closed
GARP lists Part I on 14-20 November and Part II on 21-25 November 2026. Already registered candidates have until 24 October to select or change their exam site. That is an appointment deadline, not a new-registration deadline.
May 2027 registration opens on 1 December 2026. GARP currently lists early registration through 31 January 2027 and standard registration from 1 February to 31 March. Exam dates and scheduling details should be confirmed on its live calendar as they are published.
Registration and scheduling are different: first pay for the exam window through GARP, then select your test-centre appointment. Singapore candidates use GARP’s authorised testing arrangements; availability must be checked in the scheduler.
GARP deadlines use US Eastern Time. Always check GARP’s current dates and scheduling instructions before booking.
FRM Course Fees in Singapore
Request an SGD quotation for Part I, Part II or both. We will explain the delivery options, included materials, learning resources and instalment arrangements.
EduDelphi tuition covers your training and preparation support. GARP enrolment and examination charges are separate and paid to GARP.
Official GARP Fees: A Separate Cost
| Official Item | Current Reference | When It Applies |
|---|---|---|
| One-time programme enrolment | US$400 | New Part I candidates |
| Early exam registration | US$600 per part | Within the applicable early window |
| Standard exam registration | US$800 per part | Within the applicable standard window |
These are GARP’s published May 2027 reference fees, not EduDelphi tuition. Applicable official charges are shown at checkout. They are kept in US dollars here rather than converted at a fixed exchange rate.
Source: GARP fees and payments. Check the amount for your intended window before paying.
FRM Skills for Singapore Finance and Risk Roles
FRM is most relevant when your work involves financial-risk analysis and decisions. In Singapore, that can include banks, asset and wealth managers, fintech firms, regional treasury teams and risk advisory.
| Workplace Area | Relevant FRM Learning |
|---|---|
| Banking and credit | Counterparty exposure, credit assessment, portfolio risk and stress testing |
| Markets and investment | Market-risk measures, derivatives, valuation and portfolio-risk decisions |
| Regional treasury | Interest-rate exposure, funding, liquidity and balance-sheet risk |
| Operational risk and fintech | Resilience, model limitations, controls, governance and emerging risks |
| Risk advisory and model review | Challenge assumptions, interpret results and communicate limitations |
Employer requirements vary. For example, Deloitte’s Singapore Regulatory & Financial Risk Manager role lists FRM, PRM or CFA among preferred credentials, alongside substantial relevant experience. This is evidence of relevance in a specific senior role, not a promise of a job or salary increase.
Career source: Deloitte Singapore Regulatory & Financial Risk role.
Singapore/APAC Risk Case: More Than One Risk at a Time
Original training scenario
A Singapore regional treasury team faces rising borrowing costs, a weaker overseas customer and less reliable short-term funding. Learners assess the interest-rate exposure, counterparty risk and liquidity needs together rather than treating each risk in isolation.
Which assumptions should be stressed? Could a hedge introduce new liquidity demands? What information should management see before choosing a response? Part I tools provide the calculation base; Part II helps assess the trade-offs.
Singapore Risk Context: Applying FRM Thinking Locally
Connect risk concepts with decisions faced by Singapore banks, financial institutions and regional finance teams.
| Risk Area | Workplace Discussion |
|---|---|
| AI risk | Governance, AI inventories, materiality, model and use-case risk, data, testing, human oversight and third-party AI. |
| Liquidity | Liquidity stress testing, funding pressures and contingency funding plans that can be put into action. |
| Operational resilience | Critical services, technology disruption, third-party dependencies and business continuity. |
| Credit and market risk | Basel-related risk thinking, IFRS 9 expected credit losses, exposure limits and stress scenarios. |
MAS issued its final AI Risk Management Guidelines on 7 October 2026, with phased implementation from 7 October 2027 and 7 October 2028. These give candidates a useful local setting for discussing governance and risk controls.
These Singapore examples provide workplace context; they do not add material to GARP’s examinable curriculum. Your exam preparation follows the GARP curriculum for your examination year.
Explore the official MAS AI guidelines announcement, MAS liquidity-risk guidelines and MAS operational-resilience framework.
FRM vs CFA and Other Finance Routes
Choose the qualification that fits the work you want to do, not just the one with the most familiar name.
| Route | Main Direction | When to Consider It |
|---|---|---|
| FRM | Financial-risk measurement and management | Risk, credit, market risk, liquidity, treasury and related analytical work |
| CFA | Investment analysis and portfolio management | Investment research, asset management and wider investment decisions |
| PRM | Professional risk management | Compare the curriculum, entry route and assessment structure against your background |
| US CPA | Accounting, reporting, audit and US regulation | Your main goal is an accounting or reporting pathway |
For internal audit, explore CIA training in Singapore. For AML and financial-crime compliance, explore CAMS preparation. These are different professional directions, not interchangeable versions of FRM.
Read our guides to CFA vs FRM, FRM vs PRM and risk-management certifications.
Corporate FRM Training in Singapore
Build a common foundation for finance, treasury and risk teams through private FRM cohorts, company study plans and applied discussion.
Training for Your Team
- Private Part I, Part II or combined cohorts.
- Onsite delivery across Singapore, classroom or live online.
- Custom schedules and blended LMS-supported preparation.
- Relevant banking, investment, treasury and risk scenarios.
- Multiple mocks, feedback and coordinated revision support.
Certification Preparation with Practical Context
Use the FRM curriculum to strengthen risk understanding while preparing staff for the examinations. Practical workshops can also focus on your team’s needs, such as interpreting risk measures, challenging assumptions or communicating risk to management.
Speak with us about the team size, intended FRM parts and preferred delivery. We will propose a clear training plan and SGD quotation.
FRM Course FAQs
Is the 2026 FRM syllabus the same as the 2027 syllabus?
Do not assume it is. GARP revises the curriculum annually and releases the following year’s materials on 1 December. This page labels the topic weights and current-issues readings for 2026. Candidates taking a 2027 exam should use the 2027 materials after their release on 1 December 2026.
Are 80+ live hours enough to prepare for an FRM exam?
Live tuition is one part of preparation, not the whole commitment. GARP reports an average of roughly 240 study hours based on its candidate survey, with substantial variation. Allow additional time for reading, calculations, questions, revision and mocks. EduDelphi’s LMS and faculty support help you organise that independent study.
Who should take the FRM course?
FRM is suitable for professionals and aspiring candidates interested in financial risk, banking, credit, market risk, treasury, investment risk or related analytical work. We help you assess the starting knowledge and study commitment needed before choosing a part.
Can I study FRM in a Singapore classroom?
Yes. EduDelphi offers Singapore classroom training as well as live online, private, supported self-paced and corporate options. Classroom and onsite arrangements can be organised across Singapore. Request the current options for your chosen part.
How many training hours are included?
Part I includes 80+ live faculty-led hours and Part II includes 80+ live hours. The combined route provides 160+ hours across both parts. Plan independent reading, practice and revision in addition to class time.
Are Kaplan Schweser materials included?
Yes. Kaplan Schweser study materials support your chosen FRM part, alongside EduDelphi’s LMS resources, teaching, practice and feedback. Your course quotation sets out the included materials.
Do I get multiple mocks and individual feedback?
Yes. Preparation includes multiple full mocks, explanations, individual mistake review and tutor-directed follow-up practice. Revision batches and live doubt-clearing help you work on weaker areas.
Can I join revision-only or supported self-paced study?
Yes. Revision-only preparation and supported self-paced study are available alongside the full course. Self-paced learners use recordings and LMS resources with live faculty support.
Do I need work experience before taking the exams?
No formal education or professional experience is required to register for the exams. To earn the FRM credential, you must pass both parts and submit two years of relevant full-time professional experience for GARP’s approval.
Can I take both parts in the same exam window?
GARP permits registration for both parts in the same window, but Part I must be passed for Part II to be graded. This is an intensive option. A staged plan is often more manageable alongside full-time work; discuss your background and preparation time with us.
Which calculator can I use?
Only GARP-approved calculators are permitted. Its current list includes specified Texas Instruments BA II Plus and Hewlett Packard models. We provide calculator practice; verify your exact model against the current approved list before the exam.
Can the FRM exam be taken online from home?
No. FRM uses computer-based testing at authorised test centres. Taking live online tuition with EduDelphi is separate from the delivery of the GARP examination.
Are GARP exam fees included in EduDelphi tuition?
No. EduDelphi tuition and official GARP enrolment and exam charges are separate. We explain the course inclusions and instalment options in your SGD quotation.
Can my employer sponsor the course?
Yes. We can provide a quotation, syllabus, learning outcomes and enrolment documents for your employer’s training approval or reimbursement process. Any funding or reimbursement depends on the employer or applicable scheme; no programme-specific SkillsFuture or IBF approval is claimed here.
Does FRM guarantee a job or higher salary?
No. FRM can strengthen relevant risk knowledge, but hiring and progression also depend on experience, skills, role requirements and market conditions. Choose it because the curriculum supports your intended work.
Does FRM require annual recertification?
GARP encourages certified FRMs to undertake continuing professional development, with a recommended 40 credits over two years. This is not a mandatory recurring examination. See GARP’s current CPD guidance.
Get Your FRM Course Details
Request the syllabus, current SGD tuition, instalment options and a study plan for Part I, Part II or both.
Speak with us about classroom, live online, private, self-paced or corporate preparation in Singapore.
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Singapore 179101
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