FRM Part I (GARP) — Free Online Mock Test
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.
Advanced
Finance & Professional
100 questions
240 min
50 distinct variants
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FRM Part I exam at a glance
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.
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Foundations of Risk Management (20 Q · 20%)
20 questions · 48 minutes · ~144 sec/question
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Quantitative Analysis (20 Q · 20%)
20 questions · 48 minutes · ~144 sec/question
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Financial Markets & Products (30 Q · 30%)
30 questions · 72 minutes · ~144 sec/question
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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
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
Sample FRM Part I questions
A preview of real practice questions from the Wrexa Edge FRM Part I bank — the same style, phrasing and difficulty you'll face on test day. Full solutions unlock free inside the mock.
Foundations of Risk Management (20 Q · 20%) · Foundations — Information Ratio
Q1. The information ratio is defined as:
Why: Correct answer: D — Active return divided by tracking error. Topic: Foundations — Information Ratio.
Quantitative Analysis (20 Q · 20%) · Quant — Bayes Theorem
Q2. Bayes' theorem updates a probability using:
Why: Correct answer: D — The prior probability and the likelihood of the observed evidence. Topic: Quant — Bayes Theorem.
Financial Markets & Products (30 Q · 30%) · Markets — Option Payoffs
Q3. The payoff at expiry of a long call option is:
Why: Correct answer: D — max(S − K, 0), where S is the spot and K the strike. Topic: Markets — Option Payoffs.
Valuation & Risk Models (30 Q · 30%) · Valuation — Wrong-Way Risk
Q4. Wrong-way risk occurs when:
Why: Correct answer: D — Counterparty exposure increases at the same time the counterparty's default probability rises. Topic: Valuation — Wrong-Way Risk.
Foundations of Risk Management (20 Q · 20%) · Foundations — Diversification
Q5. Diversification reduces:
Why: Correct answer: A — Unsystematic (idiosyncratic) risk, but not systematic risk. Topic: Foundations — Diversification.
Quantitative Analysis (20 Q · 20%) · Quant — Confidence Interval
Q6. A 95% confidence interval for a mean is interpreted as:
Why: Correct answer: A — A range that would contain the true mean in 95% of repeated samples. Topic: Quant — Confidence Interval.
These are a handful of the 5000 unique FRM Part I questions across all 50 Wrexa Edge variants — start a free mock to attempt the full set with instant scoring.
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.
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 offers free full-length FRM Part I mock tests with instant scoring, detailed explanations, and 50 distinct variants. Sign up for free at Wrexa Edge and 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. That's 5000 unique practice questions you can attempt, all in the real test-day interface, free to start.
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