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FRM® Practice Questions

Our team writes fresh, unique practice questions every week. All registered users can view the practice questions; however, only paid members can view the answers and explanations.

Note: Paid members do not need to collect practice questions one at a time from the forum! After a chapter (or section of related chapters) is finished, the PQs are organized into a single PDF file and uploaded to the Study Planner.
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FAQ's

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BT Polls and Surveys

Our team always wants to ensure that our customers have the best FRM study prep courses available. Answering our polls and surveys helps us to gather information about our customers so we can continuously improve our study program.
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David's Notebook

Here is where I post the Week in Risk (subsequently blogged and emailed to opt-in members). Also, I may share high-priority tips or alerts (e.g., discovered error in textbook).
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776
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Chartered Financial Analyst® (CFA) All things CFA related

Studying for the CFA® Exams

Bionic Turtle Question and Review Tool
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9
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YouTube Videos Bionic Turtle YouTube videos covering the concepts in the FRM exam

Financial Calculator Tutorials

Video tutorials on using your financial calculator
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25
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P1.T1 Foundations of Risk

BT YouTube videos covering the concepts in Foundations of Risk Management
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P1.T2 Quantitative Analysis

BT YouTube videos covering the concepts in Quantitative Analysis
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33
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P1.T3 Financial Markets & Products

BT YouTube videos covering the concepts in Financial Markets & Products
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95
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45
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P1.T3 FM&P: Exotic options

BT YouTube videos covering Exotic Options in Financial Markets & Products
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P1.T4. Valuation & Risk Models

BT YouTube videos covering the concepts in Valuation & Risk Models
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44
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102

P2.T5. Market Risk Measurement & Management

BT YouTube videos covering the concepts in Market Risk Measurement & Management
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R Programming (Data Science)

BT YouTube Videos Introducing R Programming
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Chartered Financial Analyst® (CFA)

David Harper discusses the concepts covered on the CFA exam.
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Financial Risk Manager® (FRM). Free resource These forums are available and free to the PUBLIC. Please note the generally follow the organization of GARP's syllabus. "P2.T6" = Part 2, Topic 6 and "(25%)" = 25% weight in the Part 2 exam.

About FRM®

About the FRM or bionicturtle.com FRM prep service
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Part 1 FRM® Study Groups

Create a new study group or look for existing study groups for Part 1 of the FRM exam
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Part 2 FRM® Study Groups

Create a new study group or look for existing study groups for Part 2 of the FRM exam
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758
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Risk (general)

General risk topics that don't fit neatly into the nine FRM topics
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P1.T4. Valuation & Risk Models (30%)

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Fixed Income (P1.T4 or P2.T5)

Tuckman L1 (Chapters 1,2,3 & 5) and L2 (Chapter 6, 7, 9, 21). Fabozzi's Handbook of MBS Chapters 1 & 31.
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P2.T5. Market Risk (25%)

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P2.T6. Credit Risk (25%)

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P2.T7. Basel II & Regulatory

Classified under Operational Risk & Integrated Risk but a big topic
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P2.T8. Liquidity and Treasury Risk (15%)

This new topic was added to the FRM curriculum in 2020
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P2.T9. Investment Management (15%)

This was previously Topic 8 prior to 2020. This is the reason that some of the threads within this forum will be labeled T8 instead of T9.
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P2.T10. Current Issues (10%)

This was previously Topic 9 prior to 2020. This is why some of the threads in this forum will be labeled T9 instead of T10.
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FRM® Practice Questions (PQs; for PAID customers) These forums (below) are for PAID BT CUSTOMERS ONLY. Each fresh, original practice question is posted here first and becomes a future reference for (i) follow-up questions, (ii) related comments, or (iii) proposed corrections if you have a disagreement or perceive a potential error or typo

GARP® Part 1 (P1) Practice Exam Questions

When posting a GARP practice exam, please post the year of the practice exam in the title and copy/paste the text and not an image.
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GARP® Part 2 (P2) Practice Exam Questions

When posting a GARP practice exam, please post the year of the practice exam in the title and copy/paste the text and not an image.
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145
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P1.T1. Foundations of Risk

Practice questions for Foundations: Intro, CAPM, APT, Stulz, and Case Studies
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P1.T2. Quantitative Analysis

Practice questions for Quantitative Analysis: Econometrics, MCS, Volatility, Probability Distributions and VaR (Intro)
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P1.T3. Financial Market & Products

Practice questions for financial markets & products: Hull (options, futures & derivatives), commodities, FX, and corporate bonds
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P1.T4. Valuation & Risk Models

Practice questions for valuation and risk models: value at risk (VaR), binomial, BSM, Greeks, Tuckman's bonds, bond sensitivities, stress testing, credit ratings, expected/unexpected loss, OpRisk intro
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P2.T5. Market Risk

Practice questions for Market Risk Measurement & Management
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345
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P2.T6. Credit Risk

Practice questions for credit risk
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P2.T7. Operational Risk

Practice questions for operational risk and Basel II (Basel III)
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245
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P2.T8. Liquidity and Treasury Risk

Practice questions for liquidity and treasury risk. Note: This is a new topic that was added to the curriculum in 2020.
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18
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214
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18
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214

P2.T9. Investment Management

Practice questions for investment management and risk management. Note: This was previously Topic 8 prior to 2020. This is the reason that many of the threads within this forum will be listed under T8 instead of T9.
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174
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174
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P2.T10. Current Issues

Practice questions for current issues. Note: This was previously Topic 9 prior to 2020. This is why many of the threads in this forum will be labeled T9 instead of T10.
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79
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Miscellaneous Practice Questions

Prior Exam or Not Classified
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FRM® Archive Older forums are located (eventually transferred) to the location below. These forums are often LESS RELEVANT to current FRM candidates. However, due to the relative continuity of the FRM's underlying structure--despite its continuous churn--they continue to offer some relevance.

BT Part 1

Part 1 practice questions (OLD PQs)
Private

BT Part 2

Part 2 practice questions (OLD PQs)
Private

[P1 & P2]Text: Options, Futures & Derivatives, 7th

Assigned in 2010: Estimating volatility & correlation (Ch 21); Chapters 1 - 7, 9 and 10; Binomial (Ch 11), BSM (Ch 13), Greeks (Ch 17), Credit risk (Ch 22), Credit derivatives (Ch 23), Volatility smile (Ch 18), and Exotic options (Ch 24)
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Latest profile posts

PRudr1638 wrote on Nicole Seaman's profile.
Hello Hopefully I am posting at the right thread. I just wanted to ask when will will the Part I new LOSes be added? There are not that many, probably less than 10 in number spread across 3 books. Sometimes it gets too confusing in the forum as to where things get added. So I asked here.
gsarm1987 wrote on Kabelo Mosarwe's profile.
practice daily. thats how you pass part 1. good luck
Where can I find the Study Planner?
Think exam went OK! Did my best to study all the topics, loved the many exercises offered by BT!
We'll see what happens ;) best case I'm an FRM in November, worst case I get to study everything again and become even better at my job :D
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