The remaining FRM Part 1 exam dates are approaching soon. Candidates must put their best foot forward by strengthening their preparation, revising key concepts, and practising questions under exam-like conditions.
Let us explore more about the upcoming exam details for the FRM qualification in 2026 to have a better understanding of deadlines and plan your preparation schedule efficiently.
FRM Part 1 Exam Dates 2026: Complete Schedule
FRM Part 1 exams are conducted thrice a year in May, August and November. So, candidates preparing for the upcoming exam in November should refer to the following schedule published on GARP’s official exam logistics page.
| Important Detail | FRM Part 1 November 2026 |
| Exam Dates | November 14–20, 2026 |
| Early Registration | Closed |
| Standard Registration | Closed |
| Exam Scheduling Window | May 1–October 24, 2026 |
| Last Date to Schedule | October 24, 2026 |
| Registration Status | Closed as of October 12, 2026 |
Candidates exploring a career in financial risk management can also learn more about our FRM course and how the qualification can support their career goals.
FRM Part 1 Registration 2026: Deadlines & Important Dates
The registration for the exam is followed by scheduling the appointment. Only registering does not mean the other has been completed. The registration begins approximately six months before the exam schedule.
So you can register for the FRM Part 1 exam by following the steps given below:
Step 1: Create a GARP account
You should visit GARP’s official website and create an account if you do not already have one.
Step 2: Select the exam
Choose FRM Part I and the intended examination window when you want to take the exam.
Step 3: Complete registration
You should provide the required information and pay the applicable exam and enrollment fees to complete your registration.
Step 4: Schedule your appointment
After registering yourself, log in to your GARP account and select an available examination date, time and location through the designated provider.
Step 5: Confirm your appointment
The last step is to review your appointment confirmation and retain it for exam day.
Now, as the exam date is approaching from 14 November to 20 November, you cannot register for this exam window. It is better to plan for the next exam window. GARP lists early registration for the May 2027 exams as opening on December 1, 2026, with standard registration running from February 1 to March 31, 2027. The May 2027 exam dates are yet to be announced on the official website.
For a more detailed overview of the application process, required steps and important considerations, read our guide to FRM registration.
FRM Part 1 Exam Fees 2026: How Much Does It Cost?
The FRM Part 1 exam fees 2026 depend on the applicable registration tier and whether you are enrolling in the FRM Program for the first time. GARP’s published pricing lists an early registration fee of USD 600 and a standard registration fee of USD 800 per exam part. First-time candidates must also pay a one-time enrollment fee of USD 400 when registering for Part I.
Below are the official prices for the May 2027 session, so candidates planning a future attempt should confirm the applicable fees before paying.
FRM Part 1 Syllabus 2026: Subjects & Topic Weights
GARP publishes the curriculum and approximate topic weightings. So, candidates preparing for the 2026 exam should use the official 2026 FRM Learning Objectives rather than relying exclusively on older study materials.
| FRM Part 1 Subjects and Weightage | |
|---|---|
| Subject | Approximate Weightage |
| Foundations of Risk Management | 20% |
| Quantitative Analysis | 20% |
| Financial Markets and Products | 30% |
| Valuation and Risk Models | 30% |
| Total | 100% |
To understand the topics covered in each subject, explore our detailed guide to the FRM Part 1 syllabus 2026. Below is a brief overview of what each subject covers.
Foundations of Risk Management covers the principles and frameworks used to understand and manage financial risk. It includes risk governance, risk management practices, portfolio theory, financial crises and the role of risk managers.
Quantitative Analysis focuses on the mathematical and statistical methods used in risk analysis. Candidates study probability, statistical inference, hypothesis testing, regression and time-series analysis, among other areas.
Financial Markets and Products introduce financial instruments and the markets in which they trade. Topics include forwards, futures, options, swaps, fixed-income instruments and the mechanics of financial markets.
Valuation and Risk Models examines methods used to measure and assess financial risk. Candidates encounter valuation techniques, risk models, Value at Risk (VaR), expected shortfall and other quantitative approaches.
Financial Markets and Products and Valuation and Risk Models together account for approximately 60% of the exam. Candidates should consider the topic weights when allocating study time, while ensuring they cover all four areas.
FRM Part 1 Exam Pattern 2026: Format, Questions & Duration
FRM Part 1 Exam is a computer-based examination consisting of 100 equally weighted multiple-choice questions. Candidates have four hours to complete the exam. Refer to the following table for more information.
| Exam Feature | Details |
|---|---|
| Exam Mode | Computer-based testing (CBT) |
| Number of Questions | 100 |
| Question Format | Multiple-choice |
| Duration | 4 hours |
| Question Weighting | All questions are equally weighted |
| Exam Language | English, specifically American English |
Since every question carries equal weight, candidates should practise answering questions accurately while maintaining a consistent pace. The exam tests conceptual understanding as well as the ability to apply quantitative tools and risk management techniques.
FRM Part 1 Pass Rate: What You Should Know
According to GARP, the November 2025 FRM Part I pass rate was 47%, while the Part II pass rate was 50%.
The organisation scores the exams on a pass/fail basis. Candidates can access their results through the GARP candidate portal, and results are generally made available within eight weeks of the exam window closing. GARP also provides quartile results to help candidates compare their performance with that of other candidates.
And rather than relying solely on the pass rate, candidates should use the syllabus, official Learning Objectives and practice exams to evaluate their readiness.
How Many Hours Should You Study for FRM Part 1?
Preparation time generally varies depending on your background, familiarity with quantitative concepts, and ability to study consistently.
GARP reports that candidates spend approximately 240 hours studying on average, although a recent survey found that study time ranged from less than 100 hours to more than 400 hours. So, a sensible study plan should account for four activities:
- Learning the concepts covered in the official syllabus.
- Practising numerical problems and application-based questions.
- Reviewing difficult topics and correcting recurring mistakes.
- Completing timed practice exams to assess readiness.
For candidates preparing for the 14 to 20 November 2026 session, the remaining time should be used according to their current level of preparation. Those planning for a later exam window should work backwards from their chosen date and build a realistic study schedule.
What’s New in the FRM Part 1 Exam for 2026?
GARP reviews and revises the FRM curriculum annually to ensure that it remains relevant to the skills and knowledge expected of risk management professionals. So, the updated requirements are as follows:
Hypothesis Testing
One Learning Outcome Statement has been revised to focus on calculation alongside conceptual understanding. So, candidates should practise numerical applications rather than memorising definitions.
Stationary Time Series
The five Learning Outcome Statements have been revised by GARP. So, candidates should review the updated objectives and practise applying time-series concepts to relevant problems.
No change in syllabus structure
There are no chapters have been added or removed. So, the curriculum continues to comprise 62 readings across four subject areas.
Unchanged topic weightings
The four key aspects of FRM exam Part 1 continue to have the same weightage: Foundations of Risk Management (20%), Quantitative Analysis (20%), Financial Markets and Products (30%), and Valuation and Risk Models (30%).
So, candidates should review the 2026 Learning Objectives for Hypothesis Testing and Stationary Time Series, update study materials where necessary, and practise both conceptual and calculation-based questions.
Conclusion
The November exam window runs from November 14 to 20, 2026, and registration is now closed. Candidates planning to take the exam in a future session should carefully monitor upcoming exam dates, registration windows and fee updates on the official GARP website.
FAQs
How many questions are on the FRM Part 1 exam?
The FRM Part 1 exam consists of 100 multiple-choice questions, which candidates must complete within four hours. All questions are equally weighted.
Can I take FRM Part 1 without work experience?
Yes. You do not need prior work experience to register for or take FRM Part 1. However, to earn the FRM certification, you must pass both exam parts and submit evidence of two years of relevant full-time professional work experience.
How much does FRM Part 1 cost in 2026?
The FRM Part 1 exam fee is USD 600 for early registration and USD 800 for standard registration. First-time candidates must also pay a one-time enrollment fee of USD 400, bringing the total to USD 1,000 or USD 1,200, respectively, before applicable taxes. Refer to GARP's official fee schedule for current pricing.
When does FRM Part 1 registration open in 2026?
Registration for the November 2026 FRM Part 1 exam opened on May 1, 2026. Early registration closed on July 31, and standard registration closed on September 30, 2026. For the May 2027 exam, early registration is scheduled to open on December 1, 2026. Check GARP's official exam calendar for updates.
Is the FRM Part 1 exam conducted online?
The FRM Part 1 exam is computer-based and conducted at designated testing centres. Candidates must attend their scheduled exam appointment in person; remote or at-home testing is not available for the FRM exam.
When will the FRM Part 1 November 2026 results be announced?
GARP generally releases FRM exam results within eight weeks after the exam window closes. Candidates receive an email notification when their results are available through the GARP candidate portal.
What happens if I miss my FRM Part 1 exam?
Candidates who fail to attend their scheduled exam appointment forfeit their exam fee. GARP does not provide a refund for the missed exam, so candidates should review the official exam policies carefully before their scheduled date.
Can I take FRM Part 1 and Part 2 in the same exam window?
Yes. Candidates can take both parts during the same exam administration. However, Part I and Part II cannot be taken on the same day during the May or November exam windows. Candidates must pass Part I before they can earn the FRM certification by completing the remaining requirements.
