Planning your FRM exam requires understanding GARP's exam calendar, registration deadlines, and fee structure. In 2026, the FRM exam is offered during three exam windows: May, August, and November. Each window spans approximately two weeks, giving you flexibility to choose a specific date and time that works for your schedule.
This guide provides all the essential dates, deadlines, and information you need to plan your FRM journey in 2026.
2026 FRM Exam Dates at a Glance
| Exam Window | Exam Dates | Early Deadline | Standard Deadline | Late Deadline |
|---|---|---|---|---|
| May 2026 | May 10 - 23 | Jan 31, 2026 | Mar 31, 2026 | Apr 15, 2026 |
| August 2026 | Aug 8 - 21 | May 31, 2026 | Jun 30, 2026 | Jul 15, 2026 |
| November 2026 | Nov 7 - 20 | Jul 31, 2026 | Sep 30, 2026 | Oct 15, 2026 |
Early registration saves you $200 compared to standard registration and $400 compared to late registration. If you're planning to take the exam, registering early is one of the easiest ways to reduce your total cost. Mark those early deadlines in your calendar!
May 2026 Exam Window
The May exam window is popular with candidates who want to begin studying in January and have a focused 4-5 month preparation period. Results are typically released in late June/early July.
Registration Deadlines & Fees
Key Dates for May 2026 Candidates
- Registration opens: December 1, 2025
- Early registration deadline: January 31, 2026
- Scheduling window opens: February 2026
- Standard registration deadline: March 31, 2026
- Late registration deadline: April 15, 2026
- Exam window: May 10 - 23, 2026
- Results released: Late June / Early July 2026
August 2026 Exam Window
The August exam window is ideal for candidates who want to study over the spring and summer months. This window was added in recent years and provides a mid-year option between May and November.
Registration Deadlines & Fees
Key Dates for August 2026 Candidates
- Registration opens: April 2026
- Early registration deadline: May 31, 2026
- Standard registration deadline: June 30, 2026
- Late registration deadline: July 15, 2026
- Exam window: August 8 - 21, 2026
- Results released: Late September / Early October 2026
November 2026 Exam Window
The November exam window is the most popular, with the highest candidate volumes. It's ideal for those who want to study over summer and fall. Part II candidates who passed Part I in May often target November for Part II.
Registration Deadlines & Fees
Key Dates for November 2026 Candidates
- Registration opens: July 2026
- Early registration deadline: July 31, 2026
- Standard registration deadline: September 30, 2026
- Late registration deadline: October 15, 2026
- Exam window: November 7 - 20, 2026
- Results released: Late December 2026 / Early January 2027
Exam Fees Breakdown
Understanding the FRM fee structure helps you budget appropriately. There are two components: a one-time enrollment fee (for first-time candidates) and the exam registration fee.
Fee Structure for 2026
| Fee Type | Early | Standard | Late |
|---|---|---|---|
| Enrollment Fee (One-time) | $400 | ||
| Part I Exam Fee | $600 | $800 | $1,000 |
| Part II Exam Fee | $600 | $800 | $1,000 |
Total Cost Scenarios
If you take both Parts with early registration ($1,600 total) instead of late registration ($2,400 total), you save $800. That's enough to pay for a quality prep course. Always aim for early registration unless circumstances make it impossible.
How to Register for the FRM Exam
Registering for the FRM exam is straightforward. Here's a step-by-step guide:
Visit garp.org and create a free account if you don't have one. You'll need a valid email address.
Choose Part I, Part II, or both. First-time candidates must start with Part I (or can register for both Parts in the same window).
Select May, August, or November based on your preparation timeline.
Pay the enrollment fee (if first time) plus exam registration fee. Accepted payment methods include credit cards and wire transfers.
You'll receive an email confirmation with your registration details. Save this for your records.
Approximately 6-8 weeks before the exam window, you'll receive instructions to schedule your specific exam date, time, and location through Pearson VUE.
Scheduling Your Exam at Pearson VUE
After registering with GARP, you'll need to schedule your specific exam appointment through Pearson VUE, GARP's testing partner. Here's what to know:
Scheduling Timeline
- Scheduling opens: Approximately 6-8 weeks before the exam window
- Best practice: Schedule as early as possible to get your preferred date, time, and location
- Scheduling deadline: Typically 48-72 hours before your desired exam date
Exam Timing Options
FRM exams are offered at various times throughout the day. Common time slots include:
- Morning sessions: Typically starting at 8:00 AM or 9:00 AM local time
- Afternoon sessions: Typically starting at 1:00 PM or 2:00 PM local time
- Evening sessions: Available at some locations
Availability varies by testing center. Popular locations fill up quickly, especially on weekends.
Exam Duration
| Exam | Questions | Duration | Time per Question |
|---|---|---|---|
| FRM Part I | 100 multiple choice | 4 hours | 2.4 minutes |
| FRM Part II | 100 multiple choice | 4 hours | 2.4 minutes |
| Both Parts (Same Day) | 200 total | 8 hours + break | Part I AM, Part II PM |
Morning vs. afternoon: Choose based on when you're most mentally sharp. Morning people should book AM slots; night owls may prefer PM. Weekday vs. weekend: Weekends fill up faster but may offer a less stressful environment if you work full-time. Book early: Popular testing centers in major cities can fill up weeks in advance.
Testing Locations
FRM exams are administered at Pearson VUE testing centers worldwide. With hundreds of locations globally, most candidates can find a testing center within reasonable driving distance.
Use Pearson VUE's test center locator to find available testing locations near you.
Find Testing Centers →Major Testing Center Cities
FRM testing centers are available in most major cities worldwide, including:
- North America: New York, Chicago, Los Angeles, San Francisco, Toronto, Houston, Boston, Washington DC, Dallas, Atlanta, Miami, Montreal, Vancouver
- Europe: London, Frankfurt, Paris, Zurich, Amsterdam, Dublin, Madrid, Milan, Edinburgh
- Asia-Pacific: Hong Kong, Singapore, Tokyo, Sydney, Mumbai, Delhi, Shanghai, Beijing, Seoul, Melbourne, Bangkok
- Middle East & Africa: Dubai, Abu Dhabi, Riyadh, Johannesburg, Cairo
- Latin America: São Paulo, Mexico City, Buenos Aires, Bogotá
What to Expect at the Testing Center
- Arrive early: Plan to arrive 30 minutes before your scheduled time
- Bring valid ID: Government-issued photo ID (passport recommended for international candidates)
- Security check: You'll go through a security process including palm vein scan and photograph
- Approved calculator only: Texas Instruments BA II Plus or HP 12C (no other calculators permitted)
- Personal items stored: Phones, watches, bags, and notes must be stored in a locker
- Scratch paper provided: You'll receive erasable note boards for calculations
Rescheduling, Deferrals & Cancellations
Life happens. Here's what you need to know if you need to change your exam plans:
Rescheduling Within the Same Exam Window
- Free rescheduling: Typically allowed up to 48-72 hours before your scheduled exam
- Process: Done through Pearson VUE's website
- Limitations: Subject to availability at your desired testing center
Deferring to a Future Exam Window
- Deferral fee: Typically $200-$300
- Deadline: Must request deferral before the exam window opens
- Limit: Can usually defer to the next available exam window only
- Process: Contact GARP member services
Cancellations and Refunds
- Enrollment fee: Non-refundable
- Exam fee: Partial refunds may be available if cancelled well before the exam window
- No-show: If you don't appear for your exam, you forfeit the entire exam fee
- Extenuating circumstances: GARP may consider exceptions for documented medical emergencies or natural disasters
Given the non-refundable enrollment fee and limited refund options for exam fees, only register when you're confident about your exam window. If you're uncertain about your preparation timeline, it may be better to wait for a later exam window than to register early and risk needing to defer.
Which Exam Window Should You Choose?
Choosing the right exam window depends on your current knowledge level, available study time, and personal circumstances.
Choose May 2026 If:
- You want to start fresh in the new year with a focused study plan
- You can dedicate 4-5 months (January through May) to preparation
- You prefer to take the exam before summer vacation season
- You're retaking after a November attempt and want to address weaknesses
Choose August 2026 If:
- You want to study during spring and early summer
- May feels too soon but November feels too far away
- You're a student who wants to use summer break for intensive study
- You want to take Part II after passing Part I in May
Choose November 2026 If:
- You want maximum preparation time
- You plan to study over summer and fall
- You're taking Part II after passing Part I in May
- You want to complete certification before year-end (for resume/career purposes)
- You prefer studying in cooler months with fewer distractions
Consider Taking Both Parts in the Same Window If:
- You have a strong quantitative background and can handle intensive preparation
- You can dedicate 400+ hours to combined Part I and Part II study
- You want to complete certification as quickly as possible
- You're highly motivated and disciplined
For most working professionals, we recommend taking Part I in May and Part II in November of the same year. This provides adequate preparation time for each part (4-5 months each) and allows you to complete both parts within one calendar year. If you pass Part I in May, you'll receive results by early July, giving you time to register for November Part II with early registration savings.
Frequently Asked Questions
Yes. GARP allows candidates to register for both Part I and Part II in the same exam window. If you choose this option, you'll take Part I in the morning (4 hours) and Part II in the afternoon (4 hours) on the same day. This is an intensive 8+ hour testing experience and requires comprehensive preparation for both parts simultaneously. Most candidates prefer to take the parts in separate exam windows.
No. If you registered for both parts and fail Part I, you cannot proceed to Part II. Your Part II registration will be deferred to a future exam window. You must pass Part I before attempting Part II.
Part I results are valid for 4 years. If you don't pass Part II within 4 years of passing Part I, your Part I result expires and you would need to retake Part I. Given this timeline, there's no need to rush, but don't wait too long either.
Yes, but there's a fee. You can defer to a future exam window by paying a deferral fee (typically $200-$300). Deferrals must be requested before the exam window opens. You cannot defer after the exam window has started.
Results are typically released 6-8 weeks after the exam window closes. For May exams, expect results in late June/early July. For August exams, expect late September/early October. For November exams, expect late December/early January.
No. There's no limit on the number of attempts. However, you must pay the exam registration fee for each attempt. If you don't pass, use your quartile results to identify weak areas and adjust your study approach before retaking.
Pearson VUE has testing centers in most major cities worldwide. If there's no convenient location, you may need to travel to the nearest available center. Some candidates combine exam travel with a short trip. Unfortunately, remote/online proctoring is not currently offered for the FRM exam.
Yes. The exam windows (e.g., May 10-23) are the same globally. However, the specific times are in local time for each testing center. This means candidates in different time zones take the exam at the same local time but different absolute times.
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