Exam Feedback May 2025 Part 2 Exam Feedback

[Nicole Seaman]

We hope everyone did well on the FRM Part 2 exam! We would love to hear your feedback about your exam experience.

• How did it go?
• Did you encounter unexpected questions?
• Which topics were tested?
• Did you find it difficult?

Please also fill out the poll at the top of this post. We appreciate you taking the time to provide your feedback.

Note: This is ONLY for the Part 2 Exam. Part 1 Exam Feedback can be discussed HERE.

 

[JHesl3188]

I didn't finish last 3 questions. Spent too long on a few quants. The qualitative had some very close answers. The paper was similar to Garp practice papers. Once you read the topics represented on the GARP practice questions, then you would be able to do the paper comfortably. I think I am on the borderline for passing.

 

[IDosh1374]

Is there a compiled list of topics that were asked in May 2025 exam?

 

[JHesl3188]

I didn't finish last 3 questions. Spent too long on a few quants. The qualitative had some very close answers. The paper was similar to Garp practice papers. Once you read the topics represented on the GARP practice questions, then you would be able to do the paper comfortably. I think I am on the borderline for passing.

Is there a compiled list of topics that were asked in May 2025 exam?

From what I recall:

1. Volatility Smiles
2. QQ Plot
3. Use of AI by Central Banks
4. Model Risk Management
5. AML Risk Management
6. Cyber Security Risk
7. Expected Shortfall from Loss Data
8. Expected Short term return from Vasicek Model
9. EWI- Liquidity Risk
10. Merton- Firm Value
11. Altman Z Score
12. Unexpected Loss
13. Risk Budgeting
14. LVAR- Stressed Market
15. Hazard Rate
16. Capital Ratios
17. Basel Best practices in all the tyles of risk . Found across learning objectives. Knowing the best practices.
18. SMM, PSA , CPA
19. VAR Mapping
20. FRTB
21. 3LoD applied to different op risk topics
22. Fx Swap and Cross Currency Swap
23. Factors, Investment Management Section
24. Bankers Acceptance
25. Region of Stability.
26 Non Deposit Funding
27. 2023 Banking Crises
28 Backtesting VAR Model
29 Rate Sensitive Assets and Liabilities, Available Funds etc.
30. Credit VAR


The topics were aligned with the 2 GARP Practice Exams.

 

[Nicole Seaman]

Now that GARP has released the exam results, please let us know how you did here: https://forum.bionicturtle.com/threads/may-2025-part-2-exam-results.25081/