FRR Exam Overview
FRR Exam Overview
The Global Association of Risk Professionals Financial Risk & Regulation (FRR®) exam is a professional certification designed to build practical understanding of financial risk management and regulation. It focuses on how credit, market, operational, and balance-sheet risks affect financial institutions and the broader financial system. The FRR program is well suited for professionals who want applied, real-world risk knowledge rather than purely theoretical models.
The FRR exam is ideal for:
Risk management, compliance, audit, and finance professionals
Banking, consulting, insurance, and regulatory professionals
Candidates preparing for roles involving credit risk, market risk, operational risk, or ALM
Professionals seeking a shorter, focused alternative to long multi-level certifications
No prior certification is required to attempt the FRR exam.
The FRR curriculum covers four core areas:
Credit Risk Management
Market Risk Management
Operational Risk Management
Asset & Liability Management (ALM)
Exam type: Computer-based test
Questions: 80 multiple-choice questions
Time limit: 175 minutes
Question pattern: Mixed (not section-wise)
Passing score: Approximately 67–70%
Result: Displayed immediately after exam completion
You can register anytime during the year
After registration, you receive authorization to schedule the exam
The exam is conducted through Pearson VUE test centers or online proctoring
You must attempt the exam within 9 months of registration
Typically, up to two attempts are allowed within this period
If the exam is not cleared within the validity window, re-registration is required.
On successfully passing the exam, candidates receive an official FRR certificate from GARP, demonstrating:
Practical understanding of financial risk and regulation
Ability to apply risk concepts in real-world scenarios
Professional credibility in risk, compliance, and regulatory roles
Conducted by
Global Association of Risk Professionals (GARP)
Exam format
Computer-based
Questions
80 Multiple-Choice Questions (MCQs)
Duration
175 minutes
Validity
9 months from registration
Result
Immediate (on-screen)