FRM exams are computer-based and taken at test centres during set windows in May, August and November. Registering before the early deadline saves $200 per part, and booking your test centre early protects your preferred date.
FRM exam windows for 2027
| Window | Part I | Part II |
|---|---|---|
| May 2027 | 8–13 May | 15–17 May |
| August 2027 | 13–14 August | 13–14 August |
| November 2027 | 13–18 November | 20–22 November |
The November 2026 window runs from 14 to 20 November for Part I and 21 to 25 November for Part II.
Registration and scheduling deadlines
| Milestone | May 2027 | August 2027 | November 2027 |
|---|---|---|---|
| Registration opens | 1 Dec 2026 | 1 Mar 2027 | 1 May 2027 |
| Early registration ends ($600) | 31 Jan 2027 | 30 Apr 2027 | 31 Jul 2027 |
| Registration closes ($800) / last day to defer | 31 Mar 2027 | 30 Jun 2027 | 29 Sep 2027 |
| Last day to schedule, reschedule or change test site | 23 Apr 2027 | 30 Jul 2027 | 29 Oct 2027 |
Registering soon? May 2027 opens on 1 December 2026, and its early price lasts until 31 January 2027. There is no late tier after registration closes, so missing it means waiting for the next window.
GARP can change dates, so confirm them on its exam logistics page. For every fee, see our FRM cost guide.
Which window to choose for your first attempt
- Count back your study hours. At 10 hours a week, about 240 hours takes 24 weeks. Our FRM study planner gives you a start date.
- Match the window to your work calendar. Risk teams are often busiest around quarter-ends and regulatory reporting dates. Avoid a window whose final review weeks collide with them.
- Plan Part II at the same time. If you pass Part I in May, Part II in November gives you a full study cycle in between.
The four-year rule and your calendar
Once you pass Part I, you have four years to pass Part II. That sounds generous, but life events, job changes and one failed attempt can use it up quickly. A practical rule: book Part II within 12 months of passing Part I, while the Part I material is still fresh and your study habits are in place.
Certification also requires two years of relevant full-time experience, submitted within 10 years of sitting Part II. Experience can be gained before or after the exams.
When FRM results are released
GARP posts results on the candidate portal within eight weeks of the exam window closing. Along with pass or fail, you receive a quartile ranking for each topic, which shows where to focus if you need a retake. See recent outcomes in our FRM pass rates guide.
Frequently asked questions
When is the next FRM exam?
After the November 2026 window (Part I 14–20 November, Part II 21–25 November), the next FRM exams are in May 2027: Part I from 8 to 13 May and Part II from 15 to 17 May.
When does FRM registration open for May 2027?
Registration for the May 2027 window opens on 1 December 2026. The early registration deadline is 31 January 2027 and registration closes on 31 March 2027.
Can I take FRM Part I and Part II in the same window?
Yes. Part I and Part II can be taken in the same window, and in August 2027 both run across the same two days. Part II is only graded if you pass Part I.
When are FRM results released?
GARP posts results on the candidate portal within eight weeks of the exam window closing.
What is the last date to change my FRM test centre?
Each window has a last day to schedule, reschedule or change test site: 23 April 2027 for May, 30 July 2027 for August and 29 October 2027 for November.