Most finance professionals are questioning whether this is achievable without coaching. This blog distills all that you must know about ranging from FRM exam know-how to self-study tips to assist you in acing it on your own.
The FRM certification by GARP (Global Association of Risk Professionals) is well-known internationally and is held in a position of respect in finance. Its difficulty is what prompts most people to ask if FRM coaching is really a necessity to pass.
But here’s the good news: it is possible to pass FRM without coaching if you go into this exam with discipline, appropriate resources, and a savvy strategy. Here in this blog, we will walk through 10 actionable steps to study for the FRM exam on your own while also giving you insights about whether self-study is a good option for you.
Understanding the FRM Exam
Before diving into preparation tips, let’s understand what is FRM and what the exam entails. The FRM certification is divided into two parts:
- Part I: Emphasises core tools and principles of risk management in areas like quantitative analysis, financial markets and products, and risk models.
- Part II: Dives deeper into risk management applications, including market, credit, and operational risk, and investment risk management.
Both examinations are multiple-choice and are reputed to be conceptually demanding and heavy in terms of content. The certification is provided by FRM GARP, and FRM GARP also provides official study materials.
The question remains: Is passing the FRM without coaching realistic? Let’s find out.
Curious About FRM Without Coaching?
Tips to Pass FRM Without Coaching
You don’t have to spend a fortune on FRM coaching to pass. Here are 10 self-study techniques to avoid falling off course.
Step 1: Set a Target Exam Date and Understand the Timeline
Having a certain date in mind allows for a definite timeline to work with. The FRM exam is most often available in May, August, and November. Book in at least 4–6 months in advance to have plenty of time to prepare, especially if you have work or school to juggle.
Mark important milestones such as:
- Registration deadlines (via the FRM GARP website)
- Study phases (reading, revising, testing)
Step 2: Choose the Right Study Materials (GARP & Beyond)
Begin with the official GARP books for FRM since they are thorough and follow the curriculum. Add to them third-party materials such as Schweser, Wiley, or Bionic Turtle to get simpler explanations, video lectures, and question banks.
Ensure your study materials touch on every topic tested on exams, especially when trying to pass the FRM without coaching.
Step 3: Create a Realistic and Flexible Study Plan
Divide the syllabus into chunks on a weekly basis. Allocate at least 1-2 hours a day and 10-15 hours on weekends. Your schedule should be:
- Topic reviews
- Practice sessions
- Buffer time for revisions
Flexibility is important, so adapt your plan according to your progress and individual responsibilities.
Step 4: Build Consistency with a Daily Study Routine
Studying daily, even for a short time, is superior to cramming at one time. Adopt habits such as:
- Studying at the same time each day
- Using Pomodoro (25/5) technique for focus
- Reviewing previous day’s topics before starting new ones
Consistency fosters retention and confidence, both of which are important in passing FRM without coaching.
Step 5: Focus on Conceptual Clarity, Not Just Memorisation
Most candidates fail to pass the FRM examination because they attempt to memorise formulas without grasping underlying principles. Instead of memorising formulas, emphasise:
- “Why” behind each formula
- Real-world applications of financial models
- Linking theory with practice
The most critical aspect of Part II is conceptual clarity since analytical thinking is more tested than formula recall.
Step 6: Practice Questions Regularly and Track Your Progress
Practicing questions reinforces concepts and also helps in identifying weak areas. Begin with topic-by-topic practice and then move to full-length sets of questions. Track metrics like:
- Accuracy rate
- Time per question
- Topics needing revision
This will provide you with a performance dashboard and also increase confidence in exam preparation without coaching.
Step 7: Take Mock Exams Under Real Exam Conditions
Simulate the exam environment:
- No distractions
- Fixed time (4 hours for each part)
- Follow the same format and structure
Analyse your mock results to:
- Refine time management
- Identify weak topics
- Adjust your study plan accordingly
Having 3–5 mock exams prior to the final test is crucial to success; particularly if one is not taking FRM coaching.
Step 8: Revise Strategically
Revisions should commence at least 4–6 weeks prior to the exam. Prioritise:
- Summarised notes
- Formula sheets
- Commonly asked concepts
Flashcards and mind maps can be useful to facilitate revisions. Establish weekly goals to guarantee full syllabus coverage.
Step 9: Use Forums and Study Groups to Clarify Doubts
Self-study doesn’t mean studying alone. Join online communities like:
- Reddit FRM forums
- AnalystForum
- LinkedIn groups
- Bionic Turtle’s FRM prep forum
These sites assist in clearing doubts, motivation, and exposure to various problem-solving strategies. Even in the absence of formal FRM coaching, crowd-sourced expertise will be to your benefit.
Step 10: Tips for Exam Day
Your efforts will only bear fruit if you remain calm and composed on exam day.
- Reach the center early
- Carry a GARP-approved calculator (Yes, it’s allowed!)
- Don’t waste time on a single tough question
- Use time-saving tricks for lengthy calculations
And recall, FRM has no negative marking, so respond to each question!
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Final Thoughts – Is Coaching Necessary for Everyone?
So, can you pass the FRM without coaching? Yes, absolutely!
While coaching with FRM brings accountability and structure, self-study offers flexibility, budget-friendliness, and control over tailoring your prep. If you’re independently motivated, disciplined, and adept at finance concepts, there is no way that you can’t be successful without coaching.
Nevertheless, FRM coaching can be useful if:
- You struggle with time management
- You’re not confident in self-study
- You prefer instructor-led classes for doubt clarification
The decision is yours. Many candidates have cleared both parts of the FRM certification exam without classroom coaching and so can you, with the right mindset and strategy.
FAQs on FRM Without Coaching
Is FRM very tough?
Yes, FRM is a tough exam because of its analytical complexity and vast syllabus. But with a planned strategy and without coaching, it is possible to clear FRM without coaching.
Is FRM math heavy?
No. Part I is quantitative analysis and modeling of risks, to which a grasp of statistics and finance mathematics is necessary. The math is tractable if you are comfortable with figures.
Is calculator allowed in FRM?
Yes, GARP does permit particular financial calculators (i.e., HP 12C or BA II Plus). Practice with one you intend to use on exam day.
Is there negative marking in FRM?
No negative marking is present in the FRM exam, so try each question even if uncertain.
