How to Prepare for FRM Level 1 Exam with Free Study Materials
The Financial Risk Manager (FRM) certification is a globally recognized credential for professionals who manage risk in the financial industry. The FRM exam consists of two parts: Part I and Part II. Part I covers the foundations of finance, quantitative analysis, financial markets and products, and valuation methods. Part II covers market risk, credit risk, operational risk, investment risk and current issues in financial risk management.
To pass the FRM exam, you need to have a solid understanding of the concepts and skills required for risk management. You also need to practice solving questions under time pressure and familiarize yourself with the exam format and structure. However, preparing for the FRM exam can be expensive if you rely on paid study materials and courses. Fortunately, there are some free resources that can help you study for the FRM exam without breaking the bank.
In this article, we will share some of the best free study materials for FRM Level 1 exam that you can download or access online. These include:
Practice exams from GARP
Study notes from Reddit
Video lectures from YouTube
Online forums and communities
Let's take a look at each of these resources in detail.
Practice Exams from GARP
The Global Association of Risk Professionals (GARP) is the official body that administers the FRM exam. GARP provides free practice exams for both Part I and Part II of the FRM exam on its website[^1^]. These practice exams are designed to simulate the real exam in terms of difficulty, length and content. They are also updated every year to reflect the latest changes in the curriculum.
The practice exams from GARP are available in PDF format and can be downloaded after registering on the website. You can print them out or use them on your computer or tablet. Each practice exam consists of two full-length tests with 100 questions for Part I and 80 questions for Part II. You can use these practice exams to assess your strengths and weaknesses, identify gaps in your knowledge, and improve your test-taking skills.
Study Notes from Reddit
Reddit is a popular online platform where users can create and join communities based on their interests. One of these communities is r/FRM[^2^], which is dedicated to FRM candidates and professionals. Here, you can find useful information, tips, advice, and study materials for the FRM exam.
One of the most valuable resources on r/FRM is the study notes posted by some users who have passed the FRM exam. These study notes are concise summaries of the key topics and concepts covered in the FRM curriculum. They are organized by subject and chapter, and include formulas, diagrams, examples, and tips. You can use these study notes as a supplement to your main study materials or as a quick revision tool before the exam.
To access these study notes, you need to join r/FRM and search for posts with keywords like \"study notes\", \"summary\", \"cheat sheet\", or \"formula sheet\". You can also sort the posts by flair (such as \"Part I\" or \"Part II\") or by date (such as \"new\" or \"top\"). Some of these posts will have links to Google Drive or Dropbox where you can download the study notes in PDF or Word format.
Video Lectures from YouTube
YouTube is a great source of free video lectures for FRM Level 1 exam. There are many channels that offer high-quality videos covering various topics and subjects in the FRM curriculum. These videos are usually delivered by experienced instructors who explain the concepts in a clear and engaging way. You can watch these videos at your own pace, pause, rewind, or skip as needed.
Some of the best YouTube channels for FRM Level 1 exam are:
Bionic Turtle: This channel offers comprehensive videos covering all four subjects in Part I of the FRM exam: Foundations of Risk Management, Quantitative Analysis, Financial Markets and Products, and Valuation and Risk Models. The videos also include practice questions and solutions to help you test your understanding.
AnalystPrep: This channel offers short videos covering key concepts and formulas in each chapter of the FRM e0e6b7cb5c