Finding the best FRM study materials that will prepare you to pass the Financial Risk Manager exam is harder than you think. There are a bunch of different options you can choose from and obviously, each company is going to say that its FRM certification course is the best. Therefore, what are you supposed to do and how are you supposed to decide which one is right for you?

The first thing that you need to do is to think about how you learn. Everyone learns differently, so it only makes sense that the best FRM study materials aren’t the same for everyone. For instance, a course that your friend or colleague used might have worked for them, but it might not work for you.

For example, if you are someone who needs a structured schedule to stay on task, a prep course that doesn’t include a built-in study planner might not be the right course for you. Likewise, if you retain information best through quantitative analysis, you should look a for the study materials with the biggest test bank of past exam questions.

After all, you will probably spend a few hundred hours studying for the FRM exam. Therefore, you need an FRM study guide that will help you decrease your total number of study hours, improve your retention, and make you more efficient. Unfortunately, too many people get the wrong study course and end up adding study hours to their schedule instead of subtracting them.

That’s why I’ve reviewed all of the top-rated FRM exam review courses on the market today. I compare each one, so you can easily look through the course features, advantages, disadvantages, and discounts to find the right course for you. It’s as simple as that. Check out the course comparisons below and see which one will help you prepare for the exam the best.

Quick Look at FRM Course Reviews and Rankings

Here’s a list of the top FRM exam prep materials on the market today.

These are The Top FRM Exam Prep Courses and Study Guides in April 2024:

  1. Analyst Prep FRM Prep Course
  2. Kaplan FRM Prep Course
  3. Bionic Turtle FRM Prep Course
  4. Udemy FRM Review Course
  5. Apna FRM Study Materials

Here are the best FRM exam study material review courses to help you pass the exam on your first try and become a financial risk manager.

1. AnalystPrep FRM Review

Currently, the best FRM prep course available to students is AnalystPrep. This company offers a range of study materials for financial certifications, including the CFA exam. But they offer the same level of quality for all their educational resources, which features a powerful combination of well-made content and a well-designed dashboard.

When it comes to their actual FRM study materials, AnalystPrep has spared no expense. Their entire library of video content is taught by James Forjan, a Ph. D holder and expert in all things finance. To accompany his videos, students can access several practice quizzes for each section— made up of a substantial library of multiple-choice questions. Furthermore, much of this course’s non-video content can be converted into PDFs for saving or printing, which allows you to keep on studying without being connected to the internet.

Accessing all of these materials is easy thanks to AnalystPrep’s expertly designed interface. Signing up for an account is instant and hassle-free since you can use existing accounts from Google or Facebook. From there, you can immediately get an idea of what the different courses have to offer and make a purchasing decision from there. Additionally, this dashboard is seamlessly integrated into their community forums, which means you can collaborate with other students to solve problems and prepare for exam day.

With so many excellent features, it’s surprising just how affordable this course is. Whether you sign up for just one or both parts of their FRM exam study materials, you’ll get an incredible value and definitely CRUSH your FRM exams!


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2. Kaplan FRM Prep Course

Financial risk managers wanting to prove themselves in the RMI industry often choose Kaplan Schweser for their test prep needs. Kaplan is known for their self-study materials, but they also offer an OnDemand class that blends traditional, expert-taught lessons with an online learning platform that is both informative and interactive.


  • Flexible instruction/Online Learning Platform
  • 15 OnDemand Lessons that cover all FRM exam topics
  • Review slides that provide session-related information
  • Practice questions that mirror FRM exam questions


  • Proven Track Record: Kaplan Schweser is the industry-recommended FRM program. They have a long track record of success in FRM prep, helping them rank as one of the most trusted exam preparation providers. Because they have been around so long, has a lot more connections and resources available. Compared to other programs from Udemy or Apna, their personalized study plans and science-backed study strategies are a cut above.
  • Multiple Course Options: Their OnDemand Course offering provides expert-led instruction but allows you to learn the material at your own pace. This is a massive plus for FRM candidates who are looking for a flexible FRM program that fits in with their lifestyle.
  • Upgrade Options: Although the OnDemand Course was created to offer a solid material review, it’s not all that Kaplan Schweser offers. Their Premium Package includes the OnDemand class sessions, other review materials, mock assessments, access to the quiz bank, and much more. On top of this, candidates who upgrade to the Premium plan qualify for PassProtection. This is a safety net that promises free exam prep for those who go through the Kaplan program but don’t pass the exam.
5 Tips for Passing the FRM® Exam


  • Pricing is the main downside to purchasing Kaplan materials. Priced at $299, the FRM OnDemand course and its PremiumPlus Package ($799) are expensive compared to other options. Considering that this is just for part one, it is easy to see why some candidates would seek alternative materials. Still, many see the quality of Kaplan materials as unmatched and take advantage of their special financing and payment options.

3. Bionic Turtle FRM Review

Bionic Turtle FRM offers some of the best Financial Risk Manager prep materials out there. Their study notes and video lectures work hand-in-hand to explain the complicated topics on the exam, so you can understand and remember them when working as a certified FRM. Furthermore, the examples they use in the textbook and the explanations in the video lectures are super easy to follow. They do a really good job of breaking down practice problems, analyzing concepts like portfolio management and asset management, and showing you how to solve them.

The study materials are only part of this course though. Bionic Turtle features the largest FRM test bank in the industry with over 4,400 practice questions. Ultimately, this is one of the most important parts of a review course because it allows you to think through a concept, learn the material, and practice taking the exam all at the same time. The best thing about this test bank is that it’s always up to date. New questions are constantly being added to match the new changes to the exam!

Bionic Turtle also offers an interactive study community forum where you can learn from other candidates taking the exam. You can post questions, read other people’s answers, or take advantage of the hundreds of GARP practice question discussions on the forum. This is no ghost town forum. There are over 30,000 members who actively use this to ask and answer questions. Consequently, it’s quite a resource to students lacking work experience.

You will have access to all of the online Financial Risk Manager study materials for a full year. This is plenty of time to prepare for the exam, but if you need more time, you can get a 3-month course extension.

Essentially, this is a great course for people who want detailed materials on financial markets and a huge test bank to practice with.

4. Udemy FRM Review

Udemy offers an excellent series of video lessons about the FRM credential. Each video conveys vital information in an engaging and easily understood format. Plus, there are over 200 hours of videos available for you to prepare for the exam. That way, you can be sure that you’ve learned everything you need to know before sitting down for the FRM exam.

In addition to its great videos, Udemy supports multiple devices. It also saves your course progress automatically so you can resume your studies at any time. You don’t need to worry about setting aside long stretches of time to prepare for the exam; instead, you can complete mini study sessions whenever you have some free time throughout the day.

With Udemy’s course, you don’t just have to study on your own. Every week you’ll have the opportunity to interact with your teacher in a live Q&A session. This is the perfect opportunity for you to ask any nagging questions and get clarifications on different concepts.

Unfortunately, there aren’t any study materials for Part 2 of the exam. But for just $199 you get lifetime access to this FRM Part 1 course. Because of that, it’s an excellent choice for anyone who wants to take their time studying and save some money at the same time.

5. APNA FRM Review


APNA FRM is by far the most affordable financial risk manager exam review course on the market. Starting at only $180, this is the perfect course for someone who is on a budget and doesn’t need a ton of review materials for each FRM part.

Although this course doesn’t have quite as many features as other full-time courses do, it still has all of the basics that you need to prepare yourself for the exam. It comes with 4 complete mock exams. This is more than any other course!

APNA also includes 300 past exam practice questions with solutions and over 35 hours of video lectures explaining more than 100 key topics on the exam. Similar to Bionic Turtle, APNA offers an interactive study forum where you can participate with other people studying by asking questions and reading posts by the forum moderators.

It doesn’t include all the frills and flashy features that the other courses do, but it has more than enough to explain the topics on Part I and Part II of the exam and help you prepare. Plus, it’s so affordable you could even use it as a supplement to one of the other courses. This way you can take more mock exams and practice questions.

FRM Prep Course Discounts

If you’re looking to earn the FRM designation, it might be helpful to mitigate the financial burden from purchasing study materials and enrolling in prep courses.

To help you with this, we’ve put together this list of discounts and promotions for the FRM study materials with the highest ratings, like those from Wiley FRM Review and Bionic Turtle. Check it out below!


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Frequently Asked Questions

What does a financial risk manager do?

Financial Risk Managers identify risks associated with changing earning capacity, assets, and organizational success. This designation is issued by the Global Association of Risk Professionals (GARP).

How much does a FRM make?

According to Glassdoor, a FRM makes an average base pay of $102.325 per year. Senior risk managers can make up to $130k annually.

Which is the best study material for FRM?

Wiley has the #1 course ranking spot on this list. They’ll easily help you pass the exam on your first try thanks to their excellent library of practice questions, video lectures, and instructor support channels.

Is FRM equal to MBA?

According to GARP, earning an FRM certification is comparable in degree level to an American master’s degree standard. However, earning a Master’s in Business Administration still carries more significance in a professional environment.

Is FRM tougher than CFA?

It’s tough to gauge which designation is more difficult to earn. Both test you on specific knowledge areas and have fairly low pass rates. Difficulty for each exam is largely based on your personal knowledge of each subject. Ultimately, the CFA curriculum requires a more broad knowledge of financial analysis, whereas FRM requires specific knowledge about risk management in particular.

Is FRM worth it after CFA?

Both designations fit nicely together. This is because the CFA covers more broad content areas while the FRM is much more specific. Having both qualifies you for more work overall, so I recommend earning both certs to advance your career prospects and earning potential!

Does FRM require math?

GARP’s study materials state that there are small math sections of the exam. Make sure to prepare for these ahead of time!

What is the Best FRM review course?

Top 3 Best FRM Prep Courses of 2022 – Comparison Guide

FRM Review CoursesBest for:
Wiley FRM ReviewAdaptive Learning
AnalystPrep FRM ReviewBest Study Materials
Bionic Turtle FRMLargest Test Bank
APNA FRM ReviewMost Affordable

Kenneth W. Boyd is a former Certified Public Accountant (CPA) and the author of several of the popular "For Dummies" books published by John Wiley & Sons including 'CPA Exam for Dummies' and 'Cost Accounting for Dummies'.

Ken has gained a wealth of business experience through his previous employment as a CPA, Auditor, Tax Preparer and College Professor. Today, Ken continues to use those finely tuned skills to educate students as a professional writer and teacher.