# GARP FRM Part I: study planner and exam-day checklist

Topic weights come from GARP's 2026 FRM Study Guide; rules from GARP's FRM Exam Policies, FRM FAQs, FRM Exam Logistics and the 2026 FRM Candidate Guide, all read on 2 October 2026. GARP releases new study materials each 1 December for the following year, so check the 2027 Study Guide before you plan for May 2027. The hours are our suggestion.

## Hours by topic area

GARP's website says candidates spend about 240 hours studying on average; its 2026 Candidate Guide says about 275. Both columns split by the 2026 weights.

| Area (2026 weight) | GARP book chapters | 240 hours | 275 hours |
|---|---|---|---|
| Foundations of Risk Management (20%) | 11 | 48 | 55 |
| Quantitative Analysis (20%) | 15 | 48 | 55 |
| Financial Markets and Products (30%) | 20 | 72 | 82.5 |
| Valuation and Risk Models (30%) | 16 | 72 | 82.5 |
| **Total** | **62** | **240** | **275** |

## Pace for timed practice

| Set | Questions | Time at the exam's average pace |
|---|---|---|
| One question | 1 | 2 minutes 24 seconds |
| Short timed set | 25 | 1 hour |
| Full exam | 100 | 4 hours |

## Calculator (GARP rule: anything else and your exam is not graded)

- [ ] One of: HP 12C (including 12C Platinum, 12C Platinum 25th Anniversary, 12C 30th Anniversary, 12C Prestige); TI BA II Plus (including BA II Plus Professional); HP 10B II; HP 10BII+; HP 20B
- [ ] Memory cleared before the exam (GARP rule)
- [ ] Practiced on the same calculator you will take in (our suggestion); GARP does not provide one, and no formula sheet is given

## Exam day

- [ ] Government-issued passport or driver's license; digital IDs are not accepted (GARP rule)
- [ ] A printed Confirmation of Appointment email (GARP rule)
- [ ] Test center only: the FRM is not remotely proctored (GARP)
- [ ] Breaks do not stop the clock (GARP rule)
- [ ] No penalty for wrong answers, so answer every question (GARP)

## Dates and deadlines (as published on 2 October 2026)

| What | Date |
|---|---|
| November 2026 Part I window | 14 to 20 November 2026 (registration closed 30 September) |
| Last day to select or change a November site | 24 October 2026 |
| May 2027 early registration (USD 600) | 1 December 2026 to 31 January 2027 |
| May 2027 standard registration (USD 800) | 1 February to 31 March 2027 |
| One-time enrollment fee for new candidates | USD 400 |
| Deferral, once, USD 250 | By 31 March for May; 30 June for August; 30 September for November |
| Part II must be passed by | 31 December of the fourth year after passing Part I |