FRM Part I Practice Test: GARP Financial Risk Manager
Prepare for GARP Financial Risk Manager Part I with 600 original Finance Prep questions, a free 100-question practice exam, topic drills and detailed explanations.
See practice updates and share FRM feedback .
Use Finance Prep to practise the tools behind financial risk decisions: probability, statistical evidence, market instruments, valuation and risk measurement. Work through 600 original questions for the 2026 FRM Part I curriculum, with explanations for every answer choice. The separate 100-question public practice exam gives you a fixed set for a pacing exercise or a first look at the question style.
This FRM Part I bank is live. We continue expanding and refining high-demand banks based on learner usage, feedback and syllabus updates.
These are original Finance Prep practice questions, not official GARP questions, copied live-exam content or exam dumps. Mastery Exam Prep and Finance Prep are independent from, and are not endorsed by, GARP.
FRM Part I at a glance
| Item | What to expect |
|---|---|
| Exam | GARP Financial Risk Manager Exam Part I, also searched as FRM Part 1 |
| Current practice scope | 2026 curriculum |
| Official format | 100 equally weighted multiple-choice questions; four hours |
| App practice | Topic sessions, varied mixed sets and timed exam practice |
| Public practice | 100 four-choice questions, with one best answer and explanations for every choice |
The format is confirmed by GARP’s program and exam information . Use GARP’s study materials for the curriculum assigned to your sitting. The bank currently targets 2026; it does not claim coverage of an unpublished later curriculum. Sources checked October 7, 2026.
What you will practise
| Topic | Share | Candidate work |
|---|---|---|
| Foundations of Risk Management | 20% | Connect governance, risk appetite, portfolio principles and professional conduct to decisions. |
| Quantitative Analysis | 20% | Work with probability, distributions, estimation, regression and model evidence. |
| Financial Markets and Products | 30% | Interpret cash flows, trading arrangements, forwards, futures, swaps and options. |
| Valuation and Risk Models | 30% | Apply valuation tools, interest-rate sensitivities, loss measures and risk-model assumptions. |
Questions combine applied scenarios and evidence exhibits. Some require calculations; others ask you to interpret a result or identify which assumption matters. Read units, cash-flow dates and compounding conventions before using a formula. After an attempt, explain why each alternative fails as well as why the best answer works.
Build a useful practice routine
Start with a short mixed set, then use topic practice to revisit weak areas. Review correct guesses along with mistakes. Follow with fresh questions so that recognition of an earlier answer does not substitute for understanding.
The app’s progress charts help you compare your own attempts. Practice scores describe these questions; they do not provide a validated prediction of your official result. See how to interpret practice scores .
Access on web and mobile
An active Finance Prep subscription or fixed-length access pass includes this bank and every other Finance Prep bank during the access period. Sign in with the same Finance Prep account on web and supported mobile devices to keep access and progress together. Free app previews have their own allowance; the public set is separate.
If a question seems wrong or unclear, report it in the app. Review updates appear in My reports, where you can open the question’s current version. For account, access or billing help, use support .
In this section
- FRM Part I Cheat Sheet: Risk, Statistics and ValuationReview original FRM Part I formula reminders and key distinctions for probability, portfolio risk, bond sensitivity, options and loss measures.
- FRM Part I Study Plan: Practice, Review and Timed SetsBuild an adaptable FRM Part I preparation routine around topic coverage, calculation review, fresh questions and four-hour practice.
- FRM Part I Exam Blueprint: Topics, Weights and FormatMap the 2026 GARP FRM Part I curriculum to four topic areas, the 100-question exam format and focused Finance Prep practice.
- Free FRM Part I Practice Exam: Questions and ExplanationsTry 100 original GARP FRM Part I practice questions across all four 2026 topics, with worked explanations for every choice and Finance Prep app practice.
- FRM Part I Practice Updates and FeedbackSee the release of 600 original FRM Part I practice questions and a 100-question public set, and send private question or coverage feedback.
- FRM Part I Official Resources: GARP Curriculum and PoliciesFind GARP FRM program information, current study materials, learning objectives, candidate policies and exam logistics for your sitting.