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The Financial Risk Manager (FRM) exam is the main hurdle in achieving the Financial Risk Manager certification. Passing the FRM exam isn’t easy, but it may unlock new career opportunities and pay increases while demonstrating to others that you know your stuff when it comes to risk assessment for banks, insurance, accounting, asset management, and other financial industries.
The best FRM exam prep courses should be reasonably priced and offer high-quality study materials. They should also make it easy to study online at your convenience and offer additional student support to improve your chances of passing the first time.
Best Overall : Bionic Turtle
We picked Bionic Turtle as best overall because it offers a combination of study options at different price points, provides many useful study resources, and boasts an impressive 73% pass rate.
73% pass rate
Study packages for varying needs
Includes videos, practice exams, and interactive quizzes
Bionic Turtle offers top-tier FRM exam prep courses with an impressive pass rate for past students of 73%. The company is also an approved exam provider by Global Association of Risk Professionals (GARP), the organization that creates the FRM exam.
Bionic Turtle charges $249 per year for either the Basic Part 1 or Part 2 study courses or $399 per year for both Part 1 or Part 2. Basic packages include full forum access, question sets, study notes, and interactive mock exams.
You can also choose Advanced study packages at $349 per year for either Part 1 or Part 2 or $599 for both combined. Advanced packages include everything in the Basic packages along with instructional videos and interactive quizzes.
Finally, Bionic Turtle offers Professional study packages at $449 per year for either Part 1 or Part 2 or $799 for both combined. Professional packages include everything in the Advanced packages along with focus review videos and learning spreadsheets.
Bionic Turtle’s biggest drawbacks are its subscription-based pricing and higher price for video study resources. All membership levels also give you access to daily practice questions, a study planner, and other exam prep resources.
Best Value : Wiley Efficient Learning
Wiley Efficient Learning is our winner for best value thanks to a free trial, reasonable lifetime pricing, and a 50% discount if you tried and failed with competing test prep platforms.
14-day free trial
50% off if you failed with other FRM exam prep courses
No all-in-one study package
Charges extra for mock exams, test bank, and study guide
Wiley Efficient Learning does a good job at packing in value to its learning materials. The two popular self-study courses are a one-time payment of $295 each and offer lifetime access. If you tried competing test prep courses from Kaplan or Bionic Turtle and failed your FRM exam, you can sign up for Wiley Efficient Learning for 50% off. You also get a "pay once until you pass" guarantee that includes free updates and upgrades.
Wiley’s Part 1 or Part 2 FRM exam prep courses include over 500 end-of-lesson practice questions, calculation videos, over 600 FRM test bank questions, online student discussion, 40 pages of formula sheets, one full-length mock exam, dashboard and performance metrics, and an exam planner and personalized study schedule.
Although Wiley doesn’t offer an all-in-one package, its pricing is very reasonable, especially if you qualify for the half-off discount. Additional test banks, study guides, formula sheets, and mock exams are available for an additional cost.
With a free trial and lifetime pricing, there’s little risk in trying it out. As an approved GARP exam prep provider, you know you’ll be learning from the most relevant and updated materials available.
Most Affordable : APNACourse
We picked APNA as the most affordable FRM exam prep course because it is a less expensive choice with an optional 30-day basic course you can try for free.
Basic plan is free for 30 days
Includes practice tests, progress tracking, forums, and more
Online resources are not as polished and easy to use
International course may not feel as relevant to U.S test-takers
The FRM exam prep course from APNACourse is a bargain compared to some competitors. You can start with a basic course for free for 30-days before switching to the paid version for $288.89. That’s much less than some of the higher-cost courses from most U.S.-based providers.
In addition to the videos offered in APNA the free course, APNA’s Standard Plan provides a course-specific discussion forum, a WhatsApp group for brainstorming, ad-free videos, and lifetime access to course specials (question bank, mock exams, learning tracker, and courseware).
APNA’s website and materials are not as pretty to look at as others on this list, but the company is officially approved by GARP. Even if it isn’t as beautiful, the contents are good and include an interactive forum and other platforms to chat with other students.
Best Self-Paced Course : AnalystPrep
We chose AnalystPrep because it offers flexible purchase options with one-year or lifetime access to a self-paced study program with study notes, videos, sample questions, and mock exams.
Variety of self-paced study resources
Annual and lifetime packages
Practice questions and exam-only plans
No lifetime access for Individual exam packages
No online instruction
AnalystPrep offers FRM exam courses through an impressive online platform that makes it easy to study at your own pace. As a GARP-approved exam prep provider, the company provides questions and prep content that are relevant and high-quality.
AnalystPrep offers a Practice Package for $179 per year or a Learn + Practice Package for $299 per year for each exam with one year of access. Alternately, you can buy a discounted bundle with lifetime access to all materials for both exams for a one-time price of just $499.
AnalystPrep practice-only packages include 3,000 practice questions and four full-length FRM mock exams. The Learn + Practice adds 93 hours of video and 2,000 pages of study notes.
While you’re working through your exam prep, make sure to use to AnalystPrep’s performance tracker which provides progress statistics and other details designed to help you focus your study hours where you need them most.
Best for Student Support : EduPristine
We picked EduPristine as the best FRM exam prep course for student support because it goes beyond FRM exam preparation to include other career training and resources to help you land the best job after passing the FRM exam.
Classroom, online self-study, and 3-day crash course available
Offers soft skills and career placement training
Learn online or at one of 15 training centers
International provider may not be ideal for some U.S. students
EduPristine offers more than just test preparation. Its online and classroom training paired with job placement support makes it our winner as best for student support.
Course package offerings include a classroom training course, self-study course, and a three-day intensive crash course for those who study better under pressure. Pricing depends on the course and when you register, and it is around $400 to $500 for each part of the exam.
EduPristine’s classroom training includes 75 hours (15 days) of classroom training, a three-day crash course (classroom and online), over 50 hours of downloadable lecture recordings, practice questions and self-tests, 650+ question bank with detailed solutions, two mock tests, and more.
The self-study package includes practice questions and self-tests, access to over 35 hours of recordings, comprehensive study notes, soft copy of the entire syllabus with critical equations, 650+ question bank with detailed solutions, live virtual class recordings, 50+ hours of videos, two mock tests, 24/7 online access to materials and recordings, and more.
EduPristine’s Career Services team also offers soft skills training and a seven-step job placement process that takes you from training to placement by working closely with HR departments and getting valuable feedback from recruiters.
Best Variety of Study Resources : Kaplan Schweser
We like the FRM exam review from Kaplan Schweser because it comes with choices for various packages, classes, and review materials to help you pass the FRM exam on the first try.
Multiple exam prep packages
On-demand online classes
Higher priced than competitors
No bundles available
Kaplan Schweser offers exam preparation resources with an impressive 95% recommendation rate among past students. That may be in part due to the high-quality resources spread out among self-study packages, online classroom instruction, final review exam, and a large bank of practice exam questions.
If you took SAT, ACT, GMAT, GRE, or other exam prep courses, you might already be familiar with the Kaplan brand. Kaplan is a huge company in the exam preparation field, so it’s no surprise to see a high-quality product for financial professionals. In addition to the FRM exam, Kaplan Schweser offers CFAM, CAIA, and FDP exam prep courses and resources.
Kaplan offers an Essentials Package for each part of the exam for $399, which includes a resource library, two practice exams, a question bank, checkpoint exams, topic quizzes, and online access to instructors. Its Premium Package costs $799 and adds 15 on-demand lessons and 8+ hours of on-demand expert instruction and review. Both packages come with pass protection and offer your next Kaplan study package for free if you don’t pass your exam.
Overall, you have several great options to study for your FRM certification, and the choice will depend on your budget and preferred study style.
With that said, we recommend Bionic Turtle due to its high-quality videos, huge test bank, reasonable pricing, and high pass rate.
Compare the Best FRM Exam Prep Courses
|Course||Course Format||Course Length||Cost|
|Bionic Turtle Best Overall||Online||Self-paced||$249–$799 per year|
|Wiley Efficient Learning Best Value||Online||Self-paced (lifetime access)||$295|
|APNACourse Most Affordable||Online||Self-paced (6-month access)||$288.89|
|AnalystPrep Best Self-Paced Course||Online||Self-paced (one year or lifetime access)||$179–$499|
|EduPristine Best for Student Support||Online or in-person||15-day classroom, 3-day crash course, or self-paced online||$350–$550|
|Kaplan Schweser Best Variety of Study Resources||Online||Varies||$399 to $799|
Frequently Asked Questions
What Is the FRM Exam?
The FRM exam is a test to earn the Financial Risk Management (FRM) designation. Like CFP, CPA, and other certifications, passing the FRM test shows your industry knowledge and expertise and may lead to new career opportunities or promotions.
The FRM certification requires passing two exams and completing two years of work in a related position.
How Much Do FRM Exam Prep Courses Cost?
FRM exam prep courses typically cost around $300 to $700, though some providers charge over $1,000, and some discount providers may be cheaper.
Are FRM Exam Prep Courses Worth It?
FRM exam prep courses are worthwhile. The FRM exam is tough to pass and requires extensive knowledge. Without sufficient preparation, you likely won’t succeed with this exam and remain stalled in your career.
How Long Does It Take to Prepare for the FRM Exam?
The full process of preparing for and taking both Part 1 and Part 2 of the FRM exam takes about one year. You may be able to study in less time if you stick with a strict learning schedule.
Is the FRM Exam Difficult to Pass?
According to one test prep company, the pass rate for Part 1 of the FRM exam is just 45.9%, and slightly better for Part 2 at 58.6%. Thus, we recommend one of these best FRM exam prep courses to help you learn and get ready for the exam.
To choose the best FRM exam courses, we looked at top providers focusing on cost, course contents, learning methods, and student outcomes. While all of the courses we picked will help you succeed thanks to common features like online video lessons and practice exams, category winners stand out for exceptional content, low costs, and better learner outcomes. If you choose any of these courses, you should be better positioned to pass the FRM exam.