# GARP FRM Part II: 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, FRM Study Materials and the 2026 FRM Candidate Guide, all read on 2 October 2026. GARP releases new study materials each 1 December for the following year, and the Current Issues readings change every 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, and its 2026 Candidate Guide says about 275. Neither splits the figure by part, so treat both columns as budgets for Part II alone, split by the 2026 weights.

| Area (2026 weight) | 240 hours | 275 hours |
|---|---|---|
| Market Risk Measurement and Management (20%) | 48 | 55 |
| Credit Risk Measurement and Management (20%) | 48 | 55 |
| Operational Risk and Resilience (20%) | 48 | 55 |
| Liquidity and Treasury Risk Measurement and Management (15%) | 36 | 41.25 |
| Risk Management and Investment Management (15%) | 36 | 41.25 |
| Current Issues in Financial Markets (10%) | 24 | 27.5 |
| **Total** | **240** | **275** |

## Pace for timed practice

| Set | Questions | Time at the exam's average pace |
|---|---|---|
| One question | 1 | 3 minutes |
| Short timed set | 20 | 1 hour |
| Full exam | 80 | 4 hours |

## Readings checklist

- [ ] GARP's Part II books for the five main areas (GARP)
- [ ] The online required readings, which are part of the curriculum (GARP: FRM Required Readings)
- [ ] The 2026 Current Issues readings, online only: AI, private credit, geopolitical risk, rising government debt, crypto and digital assets, digital resilience (GARP 2026 Study Guide)
- [ ] Optional regulatory readings only if you want the full framework; GARP says they are not tested (2026 Candidate Guide)
- [ ] GARP's two free 80-question practice exams, downloadable as PDFs from the candidate portal (GARP)

## 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 II window | 21 to 25 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 |
| Part II must be passed by | 31 December of the fourth year after passing Part I |
| Experience for certification | Two years full-time risk management, within 10 years of sitting Part II |