FRM Part II Exam Guide

GARP publishes 6 areas for Part II and the weight of each. The weight is printed at the head of every area, and the chapters are sized to it. Every source named at the back, with the date it was read.

What does the FRM Part II Exam Guide cover?

• Every chapter maps to a published area
• GARP publishes no pass mark at all
• 80 questions, all worth the same
• Current Issues dates first, and the book says so

How long is the FRM Part II Exam Guide?

11 chapters, 391 pages. Paperback and Kindle.

Which Credential Press line is it part of?

Part of the Finance line. FRM Part I and Part II: study guides and practice questions for GARP's Financial Risk Manager exams.

What else is in the Finance line?

• FRM Part I Exam Guide, Financial Risk Manager
• FRM Part I Practice Questions, Practice questions with full rationales, sized to the published domain weights
• FRM Part II Practice Questions, Practice questions with full rationales, sized to the published domain weights

Questions readers ask about the FRM Part II Exam Guide

Which exam is this for?

The GARP Financial Risk Manager Exam Part II, to GARP's 2026 FRM Study Guide, checked against GARP's published copy on 15 September 2026.

What does Part II test?

Market Risk 20%, Credit Risk 20%, Operational Risk and Resilience 20%, Liquidity and Treasury Risk 15%, Risk Management and Investment Management 15%, Current Issues in Financial Markets 10%. Every chapter states its area's weight.

What is the exam format and pass mark?

80 equally weighted multiple-choice questions in 4 hours, by computer-based testing: 180 seconds a question. GARP publishes no pass mark. Results are pass or fail, with quartile results comparing you with other candidates.

When can I sit it?

In May, August or November. You register for a window, then choose a location, date and time.

Is this the FRM Part 2 book or the Part I book?

Part II only. Part I's four areas, from Foundations of Risk Management to Valuation and Risk Models, are not covered here.

Is this one of the FRM books GARP 2026 candidates buy from GARP?

No. GARP makes every reading in its 2026 Study Guide available through GARP. This is an independent companion that teaches the financial risk management those readings cover, sized to the exam weights.

Does it cover operational risk management in depth?

Two chapters. The first takes frameworks, cyber and operational resilience, and financial crime. The second takes third-party risk, model risk, stress testing, RAROC, capital planning and the Basel Accords.

Why does Current Issues get a warning?

GARP reviews its topics every year. For 2026 they are AI, private credit, geopolitical risk, rising government debt, crypto and digital assets, and digital resilience.

Is there anything to do after the exam?

Yes. Certification needs two years of relevant full-time experience, submitted within 10 years of sitting Part II. It can be earned before or after the exams.

Are these real exam questions?

No. Every question was written for this book from the published outline. A book or dump promising real items is either lying or breaching GARP's terms, and using it can cost you the credential.

Where does this fit in my FRM exam prep?

It teaches the six areas. The companion, FRM Part II Practice Questions, gives you 200 questions sized to the same weights, with a rationale for every one.

Is FRM Part II Exam Guide on sale yet?

Not yet. It is written, fact-checked, typeset and built, and it goes on sale once its ISBN is assigned. Until then it is free to first readers.

How long is it?

11 chapters, 391 pages. Paperback and Kindle.

Who is it for?

Anyone preparing for the examination it covers, and the trainers and librarians supporting them. It assumes you are a working professional paying for the exam yourself and studying in the evenings.

What is it written from?

GARP's own published blueprint, and the primary text of the law, standard or framework the exam tests. Not from a summary, not from another preparation book, and not from a model's memory. Each source is listed at the back with the date it was checked.

How is it weighted?

By the exam board's own published blueprint. A domain that carries more of the exam gets more of the book, so you can see where the marks are before deciding where your evenings go.

Will it tell me the pass rate?

Not as a promise. GARP publishes a pass rate for each sitting on its FRM Program and Exams page: for November 2025, 47% for Part I and 50% for Part II (read 2 October 2026). That describes a past sitting. GARP publishes no pass mark and reports results as pass or fail.

Is it a substitute for the standard or the law?

No. Where the exam tests a paid standard, you will need your own licensed copy, and the book says so rather than pretending otherwise. Where the law is public, the book teaches from its own text and cites it.

Is Credential Press independent of GARP?

Yes, and that cuts both ways. Credential Press is an imprint of Verity AI Ltd. It has no affiliation with GARP, no sponsorship from it and no endorsement by it, and it has no inside knowledge of the exam either. Trademarks are used only to identify the examination the book prepares you for.

What happens if you get something wrong?

Send the chapter, the edition date and the source that contradicts us to hello@credentialpress.com. Confirmed corrections go into the next revision and the edition date moves forward, so readers can tell which one they have.

Can trainers, teams and libraries buy copies?

Yes, through Amazon: the book page links to its Amazon listing. We do not sell direct, offer bulk discounts or send free desk copies. Individual readers can ask for a free reader copy on the free copies page; we ask once for an honest review, and nothing depends on it. Buying for a team? See credentialpress.com/teams.