The FRM needs fewer total hours than the CFA, but the hours are dense: Part I is heavily quantitative, and Part II packs six risk disciplines into one exam. A plan built around GARP's topic weights keeps your time where the marks are.
FRM start-date planner
| Weeks needed | |
| Finish new material by | |
| Review and mock exams |
Three quarters of your hours go to learning new material and the final quarter to review and mock exams.
How 240 hours split across Part I topics
The plan gives 180 hours to new material in line with GARP's 2026 weights and 60 hours to review and full mock exams.
| Part I topic | 2026 weight | Suggested hours |
|---|---|---|
| Foundations of Risk Management | 20% | 36 |
| Quantitative Analysis | 20% | 36 |
| Financial Markets and Products | 30% | 54 |
| Valuation and Risk Models | 30% | 54 |
| Review and mocks | – | 60 |
How 240 hours split across Part II topics
| Part II topic | 2026 weight | Suggested hours |
|---|---|---|
| Market Risk Measurement and Management | 20% | 36 |
| Credit Risk Measurement and Management | 20% | 36 |
| Operational Risk and Resilience | 20% | 36 |
| Liquidity and Treasury Risk Measurement and Management | 15% | 27 |
| Risk Management and Investment Management | 15% | 27 |
| Current Issues in Financial Markets | 10% | 18 |
| Review and mocks | – | 60 |
Current Issues readings are supplied online by GARP and change each year, so leave them until you have the readings for your exam year.
A sample week at 10 hours
| Day | Part I focus | Part II focus |
|---|---|---|
| Monday | 1 h reading | 1 h reading |
| Tuesday | 1 h calculator practice | 1 h questions |
| Wednesday | 1 h reading | 1 h reading |
| Thursday | 1 h questions | 1 h questions |
| Saturday | 3.5 h new topic and worked examples | 3.5 h new topic and case-style questions |
| Sunday | 2.5 h review and timed set | 2.5 h review and summary notes |
Part I tip: practise with your approved calculator from the first week. Speed with the calculator is worth several marks on exam day.
Where working candidates usually fall behind, and what to do
- Quantitative Analysis stalls early. If statistics is rusty, spend a week on basics before starting. It pays off across both Part I's quantitative topics.
- Part II reading volume builds up. Summarise each reading on one page as you go. Re-reading full chapters in the final month is rarely possible.
- Mocks get squeezed out. Protect at least two full timed mocks per part. Four hours of focus is a skill you need to practise.
Planning dates too? See the FRM 2027 exam calendar and the FRM cost calculator.
Frequently asked questions
How many hours do you need for FRM Part I?
GARP says candidates study about 240 hours on average, with reported study time ranging from under 100 to over 400 hours. Candidates with strong maths or a quantitative degree often need less; career changers often need more.
Is FRM Part II harder than Part I?
Most candidates find Part II more demanding because it covers more topics and focuses on applying risk frameworks. It is usually less mathematical than Part I, but it requires more reading.
How long should I study for the FRM?
At 10 to 12 hours a week, about 240 hours takes 20 to 24 weeks. Many working candidates plan roughly five to six months per part.
Which FRM Part I topic should I study first?
Many candidates start with Foundations of Risk Management and Quantitative Analysis, then move to Financial Markets and Products and Valuation and Risk Models, which together make up 60% of the exam.
Are the FRM Current Issues readings examinable?
Yes. Current Issues in Financial Markets is worth 10% of Part II, and its readings are provided online by GARP. They change each year, so use the readings for your exam year.