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When are FRM exams held in 2021?

Becoming a Financial Risk Manager takes commitment, time & dedication. To help you plan effectively, here’re key FRM exam deadlines.

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Becoming a Financial Risk Manager (FRM) takes commitment, time and dedication. To help you plan effectively, it’s important to know the key FRM exam deadlines and dates. So, let’s dive in to find out more. 

What does the FRM exam involve?

There are two parts to the FRM exam  – Part I and Part II. 

The first part explores financial risk tools which include quantitative analysis, fundamental risk management concepts, financial markets and products along with risk and valuation models. The exam for this part is weighted and is made up of 100 multiple choice questions multiple-choice. 

The second part of the exam focuses on how to apply the tools learned in part I. It covers topics such as market and credit risk measurement and management, liquidity, operational and integrated risk management and financial market issues. Part II is a weighted 80-question multiple-choice exam. 

How do you become FRM certified?

Before you can become FRM certified you need to:

  • Pass part I of the FRM Exam 
  • Pass part II of the exam by 31st December within 4 years of passing part I
  • Complete and submit 2 years of full-time relevant financial risk management work experience

What are the FRM exam windows?

The exams for both parts of FRM only take place a few times a year. You will get a maximum of 4 hours to complete the exam. The exam dates for 2021 are:

May/July Exam Deadlines



July 10th – July 23rd

FRM Part I exam

November/December Exam Deadlines



Sunday, July 31st

Early Registration Ends

Tuesday, August 31st

ADA (American’s with Disabilities Act) applications must be received

Thursday, September 30th

Registration Closes

Last day to defer to the next Exam

Wednesday, October 20th

Last day to schedule/reschedule Exam

November 13th – November 26th

December 4th – December 10th

FRM Part I exam

FRM Part II exam

What happens if an FRM exam is postponed or you need to defer? 

Recent events such as Covid-19 meant that FRM exams were postponed or cancelled. If this happens, GARP or an approved tuition provider will notify candidates as soon as possible.

If you need to defer an exam, bear in mind that you can only do so once and only until the next two exams for Part I and the next exam for Part II. You need to make the request within the deferral deadline and there is a fee of $200 involved. 

The deadlines for exam referral in 2021 are:

  • May/July — March 31st
  • Nov/Dec — September 30th

How do you get FRM exam results?

Exam results are usually released by email 6 weeks after sitting the exam. Each candidate will receive a notification of a pass or fail along with percentile ranges to compare results to other sitters. 

So there you have it for 2021! Bookmark these important dates to ensure you’re ready to sit and pass your upcoming FRM exams.

Clodagh OBrien
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