How to Prepare for FRM Part 1? | A Comprehensive Guide

By  Rajesh Yadav
Updated On
How to Prepare for FRM Part 1? | A Comprehensive Guide

Preparing for the FRM Part 1 exam can be a daunting task, but with the right approach and resources, you can achieve success. This guide will walk you through everything you need to know to start your FRM Part 1 preparation, understand the exam, plan your study sequence, manage your timeline, and use the best resources available. Let’s dive in!

How to Start Your FRM Part 1 Preparation

Starting your FRM Part 1 preparation can feel overwhelming. Begin by understanding the exam structure and syllabus. The FRM Part 1 exam covers four main topics: Foundations of Risk Management, Quantitative Analysis, Financial Markets and Products, and Valuation and Risk Models. Familiarize yourself with these topics and assess your current knowledge level. This initial step is crucial for creating an effective study plan. Check out our FRM Part 1 course.

Understanding the FRM Part 1 Exam

The FRM Part 1 exam is a rigorous test that evaluates your understanding of risk management concepts. It consists of 100 multiple-choice questions to be completed in four hours. Each question is designed to test your practical knowledge and ability to apply concepts in real-world scenarios. Understanding the exam format and question types will help you strategize your preparation effectively.

Sequence of Study for FRM Part 1

To maximize your study efficiency, follow a structured sequence:

  1. Foundations of Risk Management: Start with the basics to build a strong foundation.
  2. Quantitative Analysis: This section requires significant practice and understanding.
  3. Financial Markets and Products: Learn about different financial instruments and their markets.
  4. Valuation and Risk Models: This section ties everything together, focusing on practical application.

MidhaFin can assist you by providing a well-structured study plan that ensures efficient and comprehensive preparation. Discover our structured approach here.

Timeline for FRM Part 1 Preparation

Creating a timeline for your FRM Part 1 preparation is essential. Ideally, you should allocate 4-6 months for thorough preparation. Break down your study schedule into weekly goals, dedicating specific hours each day to study. Consistency and discipline are key to staying on track and covering all topics comprehensively.

Detailed Study Plan for Each FRM Part 1 Topic

  1. Foundations of Risk Management: Allocate 20% of your study time.
  2. Quantitative Analysis: Allocate 20% of your study time.
  3. Financial Markets and Products: Allocate 30% of your study time.
  4. Valuation and Risk Models: Allocate 30% of your study time.

Within each topic, focus on understanding core concepts, practicing problems, and revisiting challenging areas.

Best Resources for FRM Part 1 Preparation

Utilize the best resources to enhance your preparation:

  • Official GARP Study Materials: Comprehensive and aligned with the exam syllabus.
  • Prep Books and Guides: Look for reputable publishers like Schweser and Bionic Turtle.
  • Online Courses: Platforms like MidhaFin offer structured courses and lecture videos.
  • Practice Exams: Take multiple practice tests to simulate exam conditions and identify weak areas.

With MidhaFin’s online course, you will have all the necessary resources in one place, eliminating the need to visit other platforms. Explore our courses.

Tips and Tricks for Effective FRM Part 1 Preparation

  • Active Learning: Engage with the material actively through note-taking, summarizing, and teaching concepts to others.
  • Practice Regularly: Consistent practice helps reinforce concepts and improve problem-solving skills.
  • Join Study Groups: Collaborate with peers to discuss difficult topics and gain different perspectives. Check Study groups.
  • Take Breaks: Avoid burnout by taking regular breaks and maintaining a healthy study-life balance.

Dealing with Exam Stress and Preparing for the Exam Day

Exam stress is natural, but manageable. Practice relaxation techniques like deep breathing and meditation. On the exam day, ensure you are well-rested and have all necessary materials ready. Read each question carefully and manage your time effectively during the exam.


Preparing for FRM Part 1 requires dedication, discipline, and the right resources. By following a structured study plan, utilizing quality materials, and practicing consistently, you can enhance your chances of success. MidhaFin provides one stop solution for comprehensive resources and expert guidance to help you excel in your FRM Part 1 preparation. Enroll in our FRM Part 1 course.

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