FRM Part I (GARP) — Free Online Mock Test

FRM Part I exam at a glance

FRM Part I full-length mock tests

Attempt 50 full-length FRM Part I mock tests, each a distinct question set built on the real 100-question, 240-minute pattern — with instant scoring and section-wise analysis. The first 3 are free.

FRM Part I key facts & eligibility

Who is eligible for FRM Part I?

No formal education or work-experience prerequisite to sit the exams. To earn the certification, candidates must pass both parts and demonstrate 2 years of relevant full-time professional risk-management work experience (submitted within 10 years of passing Part II).

Last verified July 2026 against GARP — FRM program & exams, GARP — FRM overview. Always confirm current details on the official website before you register.

FRM Part I section breakdown

The FRM Part I mock test on Wrexa Edge replicates the real exam's section structure — same names, same question count per section, same time limits. No inter-section breaks — the timer runs continuously.

• Foundations of Risk Management (20 Q · 20%)
  20 questions · 48 minutes · ~144 sec/question
• Quantitative Analysis (20 Q · 20%)
  20 questions · 48 minutes · ~144 sec/question
• Financial Markets & Products (30 Q · 30%)
  30 questions · 72 minutes · ~144 sec/question
• Valuation & Risk Models (30 Q · 30%)
  30 questions · 72 minutes · ~144 sec/question

FRM Part I scoring & marking scheme

Strategy: FRM Part I has no negative marking. Attempt every question — blank answers cost you potential marks but cannot pull your score down.

Scale: FRM Part I (pass/fail · per-topic quartiles).

How FRM Part I is conducted

• Mode
  Standard — practice without proctoring on Wrexa Edge, or enable optional webcam proctoring to simulate test-day conditions.
• Test format
  Linear / fixed-form — every candidate sees the same number of questions per section.
• Backtracking
  Allowed — you can revisit and change answers within a section.
• Mark for review
  Available — flag tough questions and return to them before submitting the section.

Tools available during the FRM Part I exam

• Calculator
  On-screen scientific calculator (matches the real exam interface).

Wrexa Edge renders these tools inside the mock test exactly as they appear on the real FRM Part I exam — same shortcuts, same behaviour.

FRM Part I time strategy

With 100 questions in 240 minutes, you have about 144 seconds per question on average. Successful candidates aim for the following pacing on each section:

• Foundations of Risk Management (20 Q · 20%)
  Target ~144 sec/question. If a question takes more than 216 seconds, mark for review and move on.
• Quantitative Analysis (20 Q · 20%)
  Target ~144 sec/question. If a question takes more than 216 seconds, mark for review and move on.
• Financial Markets & Products (30 Q · 30%)
  Target ~144 sec/question. If a question takes more than 216 seconds, mark for review and move on.
• Valuation & Risk Models (30 Q · 30%)
  Target ~144 sec/question. If a question takes more than 216 seconds, mark for review and move on.

Wrexa Edge's analytics show your actual time-per-question after every mock so you can spot which sections you're losing time on.

FRM Part I topics covered

Across the 50 Wrexa Edge variants of FRM Part I, the following topics appear most often (sample distribution from one variant):

Foundations of Risk Management (20 Q · 20%)

• Foundations — Financial Disasters · 2
• Foundations — Risk Governance · 2
• Foundations — Liquidity Risk · 2
• Foundations — Information Ratio · 1
• Foundations — Diversification · 1
• Foundations — ERM · 1
• Foundations — GARP Code of Conduct · 1
• Foundations — Risk Appetite · 1

Quantitative Analysis (20 Q · 20%)

• Quant — Hypothesis Testing · 2
• Quant — Bayes Theorem · 1
• Quant — Confidence Interval · 1
• Quant — Bootstrapping · 1
• Quant — Portfolio Variance · 1
• Quant — Independence · 1
• Quant — Standard Error · 1
• Quant — Autocorrelation · 1

Financial Markets & Products (30 Q · 30%)

• Markets — Option Strategies · 4
• Markets — Exotic Options · 2
• Markets — Option Payoffs · 1
• Markets — Put-Call Parity · 1
• Markets — Moneyness · 1
• Markets — Time Value · 1
• Markets — American vs European · 1
• Markets — Convenience Yield · 1

Valuation & Risk Models (30 Q · 30%)

• Valuation — Option Greeks · 3
• Valuation — Merton Model · 2
• Valuation — Coherent Risk Measures · 2
• Valuation — Wrong-Way Risk · 1
• Valuation — Netting · 1
• Valuation — Component VaR · 1
• Valuation — Risk-Neutral Probability · 1
• Valuation — Cash-Flow Mapping · 1

FRM Part I difficulty calibration

Advanced tier. Advanced-level: high-stakes exam with rigorous content depth. Expect 4-8 months of structured prep.

100 MCQ / 4 hours · no negative marking. Four official topic areas: Foundations of Risk Management (20%), Quantitative Analysis (20%), Financial Markets & Products (30%), and Valuation & Risk Models (30%). Result is pass/fail with per-topic quartile performance, as GARP reports. · Official language: English.

Verified content — Wrexa Edge's FRM Part I bank has been deeply curated with real exam-aligned content (estimated 100% syllabus coverage).

How Wrexa Edge prepares you for FRM Part I

• Real test-day interface
  Our sat skin mirrors the actual FRM Part I testing software — same timer, palette, tools, and navigation.
• 50 distinct variants
  5000 unique practice questions, each variant a fresh test — not just shuffled options.
• Detailed analytics
  Scaled score, section accuracy, topic-wise heatmap, time-per-question — see where to focus after every attempt.
• Spaced repetition (Notebook)
  Wrong answers and flagged questions flow into an SM-2 spaced-repetition deck so you actually retain what you learn.
• Optional proctoring
  Browser-based face-api detection (no install) — turn it on to simulate a high-stakes environment.
• Free to start
  No credit card. Sign up, pick a variant, and your first FRM Part I mock starts in under a minute.

Expert take: what FRM Part I really tests

The Financial Risk Manager (FRM), from GARP, is a globally recognised designation for risk-management practitioners. It is a two-part, computer-based program — Part I has 100 multiple-choice questions in 4 hours and Part II has 80 in 4 hours. GARP does not publish a numeric passing score, using a quartile pass/fail method instead. There is no prerequisite to sit, but the certification also requires two years of relevant risk-management work experience, and candidates have four years from passing Part I to pass Part II.

FRM Part I study plan

A phase-by-phase roadmap from your first concept to test-ready. Stretch or compress each phase to fit the time you have before your attempt.

Where FRM Part I can take you

A strong FRM Part I result opens up these careers and higher-study paths:

• Financial risk manager
  A globally recognised designation across market, credit and operational risk.
• Risk & investment roles
  Two parts plus experience earn the FRM credential.

Best books & official prep for FRM Part I

• FRM Exam Part I & Part II books — GARP
  Official curriculum across the risk-management domains.
• FRM practice exams — GARP / Various
  Two-part program; no numeric pass score is published.

Official practice: Study the official GARP FRM curriculum for Part I and Part II with practice exams; certification also needs 2 years of relevant risk-management experience.

Previous-year papers: GARP provides practice questions and past-style practice exams.

Frequently asked questions

What is the FRM Part I exam pattern?

FRM Part I (GARP) contains 100 questions across 4 sections: Foundations of Risk Management (20 Q · 20%), Quantitative Analysis (20 Q · 20%), Financial Markets & Products (30 Q · 30%), Valuation & Risk Models (30 Q · 30%). Total duration is 240 minutes (about 144 seconds per question).

Does FRM Part I have negative marking?

No — FRM Part I has no negative marking. Each correct answer is worth 1 mark, so attempt every question.

How is FRM Part I scored?

Scaled score range: 0 to 100. FRM Part I (pass/fail · per-topic quartiles).

How can I practise FRM Part I online for free?

Wrexa Edge gives you 3 free full-length FRM Part I mock tests — with instant scoring, detailed explanations and analytics — plus 47 more with Pro. Start practising in under a minute, no card required.

What is the difficulty level of FRM Part I?

FRM Part I is rated Advanced difficulty on Wrexa Edge. Advanced-level: high-stakes exam with rigorous content depth. Expect 4-8 months of structured prep. 100 MCQ / 4 hours · no negative marking. Four official topic areas: Foundations of Risk Management (20%), Quantitative Analysis (20%), Financial Markets & Products (30%), and Valuation & Risk Models (30%). Result is pass/fail with per-topic quartile performance, as GARP reports. · Official language: English.

How long is the FRM Part I exam?

FRM Part I runs for 240 minutes total across 4 sections. On Wrexa Edge the timer is enforced exactly as on the real exam — including no inter-section breaks.

What topics are covered in FRM Part I?

FRM Part I is split into: Foundations of Risk Management (20 Q · 20%), Quantitative Analysis (20 Q · 20%), Financial Markets & Products (30 Q · 30%), Valuation & Risk Models (30 Q · 30%). Each section is timed and weighted separately. 100 MCQ / 4 hours · no negative marking. Four official topic areas: Foundations of Risk Management (20%), Quantitative Analysis (20%), Financial Markets & Products (30%), and Valuation & Risk Models (30%). Result is pass/fail with per-topic quartile performance, as GARP reports. · Official language: English.

What tools or aids are allowed during FRM Part I?

On-screen scientific calculator (matches the real exam interface).

Is the FRM Part I test adaptive?

No — FRM Part I is a fixed-form (linear) test. Every candidate sees the same number of questions per section.

How many FRM Part I mock tests does Wrexa Edge offer?

Wrexa Edge generates 50 distinct FRM Part I variants — each with different question content, not just shuffled options — the first 3 free for everyone and 47 more with Pro. That's 5000 unique practice questions in the real test-day interface.

Is there a free FRM Part I test series 2026?

Yes. The Wrexa Edge FRM Part I test series for 2026 gives you 3 free full-length mock tests (50 in total) plus subject-wise and topic-wise tests — instant scoring and detailed analysis, no card required.

Are FRM Part I previous year question–style papers included?

Every FRM Part I mock is modelled on the official exam pattern and the style of previous years' papers — the same 100-question structure, sections and marking — so your practice mirrors the real paper you'll sit.

Which is the best free FRM Part I mock test online?

Wrexa Edge's FRM Part I mock test replicates the real exam interface, timing and marking scheme, with instant score, section-wise analysis and 50 fresh variants — a strong free choice for 2026 preparation.

Can I take the FRM Part I mock test on mobile?

Yes. FRM Part I mock tests run in any browser on mobile, tablet or desktop — no app or download needed. Start on your phone and your progress and analytics sync when you sign in.

What is the FRM Part I syllabus?

The FRM Part I syllabus maps to its 4 sections: Foundations of Risk Management (20 Q · 20%), Quantitative Analysis (20 Q · 20%), Financial Markets & Products (30 Q · 30%), Valuation & Risk Models (30 Q · 30%). Wrexa Edge's mock tests cover the complete syllabus topic by topic — see the topics-covered breakdown above — so you practise every area at real exam difficulty.

What is the eligibility for FRM Part I?

No formal education or work-experience prerequisite to sit the exams. To earn the certification, candidates must pass both parts and demonstrate 2 years of relevant full-time professional risk-management work experience (submitted within 10 years of passing Part II). Wrexa Edge focuses on realistic FRM Part I practice: 3 free full-length mocks in the exact exam pattern, ready whenever you are.

When is the FRM Part I exam and how should I prepare?

Official FRM Part I exam dates are announced by the conducting body for each cycle — check the latest notification for the current schedule. To be ready, follow a phased study plan and take full-length timed mocks; Wrexa Edge gives you 3 free FRM Part I mocks with instant scoring so you can track your readiness week by week.

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• Exam calendar 2026

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