Best FRM Study Materials – Top 4 Comparison

Updated: May 23, 2023 You’re our #1 priority.
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Straight Up, These Are The Best FRM Study Materials On The Market Today

Any job that requires a Financial Risk Manager (FRM) certification is much more serious than others— including similar certifications like the CFA®. You’re required to work with large sums of money and manage risk for huge companies— major banks, accounting firms, insurance companies, and asset management firms.

Because of this, the ultimate goal when preparing to take your FRM exam is to find the best study materials and prep courses on the market. This will not only help you pass both parts and become certified, but it’ll also prepare you for expertly handling the duties of the job.

But where would you even start looking, and how would you know if a particular provider is the best fit for you?

You don’t need to lift a finger, we’ve already compiled this information for you below:

Check out our breakdown of the best FRM Study Materials and Test Prep course (and one that you should definitely avoid). Remember, accuracy and attention to detail is necessary to manage risk in financial markets— so you’ll want to choose one of the best courses to learn how to do it correctly.

Read on to get your career started the right way!

These are The Top 4 Financial Risk Management Study Materials and Prep Courses in June 2023:

  1. Analyst Prep FRM Prep Course
  2. Kaplan FRM Prep Course
  3. Bionic Turtle FRM Prep Course
  4. Udemy FRM Prep Course
  5. ApnaCourse FRM Prep Course

Analyst Prep FRM Study Material (#1)

Fantastic user interface with adaptive learning and community support

Analyst Prep

AnalystPrep FRM Study Material Pros & Cons 2023

What Everyone Needs To Know About AnalystPrep’s Course:

Having already helped guide thousands down a path of success to pass the FRM Exam, Analyst Prep continues to leverage the combined experience of their staff and professors to provide the best training materials for future risk analysts.


 Vast Video Library:

With assistance from industry professionals like Professor James Forjan, Ph.D, you’ll proceed through in-depth concepts in an effective and easy-to-follow format. Analyst Prep’s video lessons are easily accessible through your account dashboard or on their extensively curated YouTube channel.

Human Assistance:

We all need help sometimes with areas that we struggle to understand. In these situations, it just helps to be able to talk through more advanced topics with an expert. Whether you enroll in a regular or premium course with AnalystPrep, you will have access to private tutors that are available to assist with any questions or topics that you might not be able to crack on your own.

 Track Your Progress:

You can track your progress as you progress through study materials for each exam part. Alternatively, you can just compare your exam preparedness with other students taking the same courses. AnalystPrep has designed their online platform with effective tools to assist you at every step of the way.

 No Money Down:

If you’re even slightly curious about AnalystPrep, you can easily sign up for an account without putting down any of your hard-earned cash or personal information. Unlike most providers that will place all of their trial materials behind a paywall, simply signing up for an account will grant you access to a handful of completely free study materials.

Bottom Line: Analyst Prep provides a learning experience that rivals their online competitors and affords its students cutting edge exam prep in a format that’s enjoyable to interact with at all levels. Their tutor support options also help to elevate this from a good prep course to something more on par with a college university.


Kaplan FRM Study Materials (#2)

A great contender for a FRM review course



Kaplan FRM Review Pros & Cons 2023

What Everyone Needs To Know About Kaplan Course:

Kaplan has helped thousands of professionals to achieve their professional goals. Specifically for the FRM Exam, however, Kaplan has shown itself to be successful yet again with a 91% student recommendation rate. Read on to see if Kaplan is right for you.


 Online Weekly Instruction:

Kaplan’s courses include a weekly online course. These classes total to 30 hours of online learning and are a part of both the Part I and Part II bundle Premium Bundle Option that Kaplan offers. It doesn’t offer the same personal touch as AnalystPrep’s community features, but it’s a decent substitute.

 Stellar Web Content:

In addition to the online courses, Kaplan makes sure that you have plenty of options to continue learning and reviewing outside of class time. Their bundles include an Online Review Workshop, Online Mock Exams, and a resource library. They also have the option to take check-in exams along the way to make sure that you keep on top of your progress.


 Double the Bundles:

While we understand that the exam is split into 2 parts that you need to pass, we found that Kaplan was one of the few providers that split these into completely separate bundles. This essentially doubles the cost of their study materials to students and candidates that need to prepare for both exam parts

Bottom Line: Overall, we loved what Kaplan had to offer. Their online platform offers a truly comprehensive review program that will prepare you for success. However, those looking for a simpler approach may not appreciate how this course splits up its exam prep packages.


Bionic Turtle FRM (#2)

Over 4,400 practice questions and a great online community


Bionic Turtle FRM Review Pros & Cons 2023

What Everyone Needs To Know:

The second spot on our list goes to Bionic Turtle, an exam prep provider that revels in technological finesse as well as embraces the somewhat whimsical nature of its name in its presentation. Bright colors serve to highlight the many easy to use areas of their site, and their course catalog is truly impressive.


 Study Notes and Instructional Videos:

Bionic Turtle’s videos and corresponding study notes help to walk you through complex quantitative concepts. They include straightforward, easy to understand explanations and visual examples specifically curated to help you solve practice problems in an intuitive step by step format.

 Community Studying:

Included in their study materials is a huge forum with answers to all of your questions.  They have hundreds of practice questions which are discussed in the forum, including at least 200 in-depth discussions of current and previous GARP practice exam questions. You can ask more than 30,000 members to share advice and study tips.

 Large Question Bank:

Their FRM question bank has a staggering 4,400 questions and is still growing.  The company founder, David Harper, writes new questions and introduces them to the community forum first for feedback. The test bank is continuously updated to reflect the actual exam.

 Access for 1 Year:

You can be sure that your money will go the extra mile, as you will have a full year to study with Bionic Turtle’s course. All study materials are accessible for one year after purchase and it is possible to extend the course by 3 months for an additional fee as needed.

Bottom Line: We really enjoyed the overall feel of Bionic Turtle. In addition to some solid exam prep, there was a feeling of community within the forums that made it feel like being in a large classroom at times where everyone was always willing to help. Definitely check them out if you are someone who enjoys the back and forth of academic discussion!

Udemy FRM (#3)


Udemy FRM Review Pros & Cons 2023

What Everyone Needs To Know:

Udemy specializes in a self-paced program with heavy focus on video lectures. This sets it apart from other courses— both for better and for worse.


 Engaging Lectures:

Every video lecture has been designed to teach you while keeping you engaged. The instructor for this Udemy course understands that videos are useless if you don’t remember anything from them.

 Excellent Instructor:

Micky Midha is an experienced professional with experience as both a teacher and CFA. This allows him to easily convey important information based on their personal and professional experiences. It also guarantees that the information in each lecture has been personally tested by the one who designed the course.


 Limited Live Content:

Udemy is very much a self study course. That means there is no substantial live content in this course. You’ll have the opportunity to speak with your instructor every week, but that’s the extent of what they offer. Still, the self study materials are strong enough to stand on their own, making any live materials largely unnecessary.

Bottom Line: This course is excellent if you want an alternative to the more common testing heavy courses. Plus, their video lectures will help you out in a way unique to Udemy. At $199, it’s not much of a gamble to try this out and see if you like it.

Apna Course FRM Study Material (#4)

Full length FRM practice tests at a value price point

This is Exactly Why Apna Course FRM Is One of Our Favorite Financial Risk Manager Courses On The Market Today!


Apna Course FRM Review Pros & Cons 2023

What Everyone Needs To Know About Apna Course:

ApnaCourse is one of the leading e-learning platforms available today, having helped thousands of professionals to enhance their skills and further their careers. See below to find out what we really loved as well as what we weren’t particularly taken with during our time with ApnaCourse.


 Full-length Practice Exams:

One of the best features of APNA is that students get access to 4 full-length practice exams for a relatively inexpensive price. One of the very best methods of reviewing for an exam is to take a practice test. The practice exams found here are particularly effective as they are modeled to simulate the FRM exam.

 Affordable Price:

APNA’s relatively low price tag makes it a great option for students who are on a tight budget. For less than $200 you’ll get access to practice exams, several hundred practice questions, instructional videos, a forum, and an ebook. Try it for free first by taking advantage of their free demo!


 Part 2 Materials Limited:

Although the course materials for Part 1 have been available for some time, the Part 2 FRM course was more recently released and is still gaining traction. Part 2 includes 11+ videos and 40 lecture topics— far fewer than the 27+ videos and 91 lecture topics for the Part 1 course. While we understand some things take time to develop and grow, it would be nice to see a greater level of parity between the two.

Bottom Line: Those looking for relatively simpler course offerings compared to the first entries on our list may find ApnaCourse appealing in its efficient approach at an affordable price. While there’s definitely some room for improvement in terms of the overall offerings — specifically in their Part 2 course — we found the complete package to still be quite impressive.

FRM Frequently Asked Questions

Can anyone take the FRM Exam?

Yes! Any student is welcome to take the FRM Exam; no special certification or degree is required. However, you will be required to gain work experience before becoming certified.

How do I obtain my FRM certification?

FRM certification can be obtained after passing two highly difficult multiple choice exams. Additionally, you must have 2 years of relevant work experience.

How do I maintain my FRM certification?

It is strongly recommended that certified FRMs complete 40 hours of Continuing Professional Development courses per year in order to keep up with the latest developments in their field.

CFA® Institute does not endorse, promote or warrant the accuracy or quality of CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA® Institute.