Finance professionals today are chasing certifications that prove their skills beyond just a college degree. FRM, short for Financial Risk Manager, is one of the top credentials for anyone serious about risk management. But one question comes up again and again; how long does it take to complete FRM?
There’s no single fixed answer. It depends on the person, their schedule, and how much time they can give. Still, it’s possible to break the journey down into clear parts and understand what most people can expect.
The FRM Structure
To begin with, the FRM exam is held in two parts, namely I and II. You can only take Part II after you’ve passed Part I. Each part has its own syllabus, focus areas, and difficulty level. GARP (Global Association of Risk Professionals), the body that runs the FRM, allows candidates to sit for both parts on the same day, though most prefer to do them separately.
- Part I focuses on the basics and tools used to assess financial risk, such as quantitative analysis, financial markets, and risk models.
- Part II is more practical and covers real-world applications like credit risk, operational risk, and current market issues.
Here’s a quick look:
| Part | Topics Covered | Exam Duration | Pass Rate (Approx.) |
| I | Foundations of risk, valuation, quant methods | 4 hours | 40–50% |
| II | Risk models, credit, operational risk, case studies | 4 hours | 50–60% |
So, How Long Does It Take to Complete FRM?
A straightforward answer would be about 1 to 2 years for most working professionals. Students may be quicker if they have fewer distractions and full days to study.
Let’s break it down even further.
Preparing for FRM Part I
People usually take 4 to 6 months to prepare for Part I if they study about 10 to 15 hours per week. That adds up to roughly 200 to 300 hours of study. Those with a background in finance or maths may need slightly less time. People from non-finance backgrounds often take the full 6 months to feel confident.
Also, GARP offers the exam three times a year, in May, August, and November, so you can plan around your own routine. Some prefer to finish Part I and wait a year before taking Part II. Others want to finish both within the same year.
Preparing for FRM Part II
Part II is known to be more practical and can be harder in terms of application. The suggested study time is around 200–250 hours, which translates to another 4–5 months, especially if you’re doing it while working.
It’s worth remembering that you can’t receive the official FRM certification until you’ve completed both parts and also shown two years of relevant work experience in financial risk or related fields.
So, how long does it take to complete FRM, including experience? If you already have work experience, then passing both exams could mean you get certified in 1 to 1.5 years. If not, add on the time it takes to complete those two years after passing.
Can You Finish Both Exams in One Year?
Technically, yes. Since exams are spaced out in different months, many candidates attempt Part I in May and Part II in November. But this fast track needs serious commitment and time discipline. If someone is already working in finance, then revising for Part II might feel smoother.
Still, rushing may backfire. Some people end up failing Part II due to the pressure. It’s more realistic and less stressful to aim for a 15 to 18-month timeline overall.
Study Patterns and Personal Factors
Some candidates are full-time students and can afford to give 20+ hours a week to their FRM studies. They might finish both parts within 12 months.
Working professionals, on the other hand, must fit studies around jobs, family, and life. They might take 18–24 months.
Language comfort, prior exposure to maths-heavy subjects, and mental stamina all play a role. No two candidates have the exact same timeline, but here are some common scenarios:
| Candidate Type | Estimated Time to Complete FRM |
| Full-time finance student | 12–15 months |
| Working professional in finance | 18–24 months |
| Non-finance background | 24+ months |
What About the Validity of Exams?
After you pass Part I, you must sit for Part II within 4 years. If you don’t, your Part I result becomes invalid. Also, to get the FRM title, you must submit proof of work experience within 5 years after clearing both exams.
So time does matter, not just in preparation, but also in meeting these deadlines.
Final Thoughts
So, how long does it take to complete FRM? The most honest answer is: it depends on you. Most students take 1.5 to 2 years, including exam preparation and work experience.
If you’re committed and have a decent background in finance or maths, you might do it in a year. If you’re balancing work and studies, or coming from a non-finance stream, then give yourself a longer runway.
One thing is clear: proper preparation makes a huge difference. And having the right guidance can speed up the whole process.
The WallStreet School’s FRM training program is worth checking out. It focuses on practical learning, structured schedules, and support from experienced mentors. Many candidates have found it useful not just for passing the exam, but for understanding the subject deeply. If you’re serious about getting your FRM certification without wasting time, it’s worth considering them.
FAQs
- How many hours do I need to study for FRM?
On average, around 200–250 hours per part. That makes it roughly 400–500 hours for the full course. - Can I take both parts of the FRM exam on the same day?
Yes, but it’s not recommended unless you have a very strong background and plenty of preparation time. Most students take them separately. - Do I need finance experience to take the exam?
No. Anyone can register. But to get certified as an FRM, you must show two years of relevant work after clearing both parts.
- Is FRM tougher than CFA?
Different focus areas. CFA is broader and includes equity, fixed income, portfolio management. FRM is deep in risk and quant-heavy. Some find FRM tougher due to the maths involved.
