The FRM exam is a financial risk manager exam, and the exam is divided into two levels, and you need to pass two levels of the exam before you can submit a certificate application. Unlike the CFA exam, the FRM two-level exam can be reported consecutively, so let's take a look at the content of the FRM two-level exam and the precautions for the continuous exam!
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1. What is the difference between FRM level 1 and 2?
In fact, there are certain differences between FRM Level 1 and Level 2 in terms of both the content of the exam and the focus of the examination. Therefore, it means that the way candidates study in preparation for the exam will also be different. It is difficult for candidates who take the same preparation method to study for both levels of the exam.
The FRM level 1 focuses on the fundamentals of finance, including financial markets and products, risk management fundamentals, quantity, and valuation and risk modeling.
The level 2 content of FRM is more difficult, focusing on the measurement and management of various financial risks, including credit risk, market risk, operational risk, liquidity risk, investment risk, and financial hot topics.
2. What should I pay attention to in the FRM two-level continuous test?
Exam time. The FRM certificate is divided into two levels, the first and second exams are 4 hours, and you can take two levels of exams at the same time in the same exam period, and the efficiency of holding the certificate is very high.
Consecutive Examination Policy. However, before passing the second level, you must first obtain the first level of passing, that is to say, if you take two levels at the same time, the first level has not passed but the second level is very good, and the second level score is not counted, so students who want to take the test must ensure that the first level is reviewed well.
Result expiration date.
FRM also has a special point, that is, the FRM score is actually valid, the validity period of the first level is four years, according to the official statement of the association, to be precise, it is necessary to pass the FRM level 2 before December 31 of the fourth year of passing the FRM level, otherwise the results will be invalid.
The validity period of the Level 2 score is a little longer than that of Level 1, and candidates need to submit 2 years of effective risk management experience in risk management within 5 years of passing the Level 2 exam to hold the certificate. If you do not submit your application for a certificate after 5 years of passing the exam, your FRM scores for both levels will be invalid and you will need to start the exam again.
Therefore, before choosing to prepare for the exam, you should also take into account the validity period of the test results, and plan your preparation rhythm as a whole.
FRM Level 1 subjects and specific contents.
Financial Risk Manager Career Prospects.
What is FRM?