Free FRM Part 1 Practice Questions

FreeFellow hosts 997 free FRM Part 1 practice questions, every one an original item with a step-by-step solution, covering all four GARP topic areas. There is no trial window, no question cap, and no signup required to browse the bank. Start at the FRM Part 1 practice page.

Key Concept

The entire bank is free forever. Most commercial FRM question banks run several hundred dollars per part; the FRM cost comparison breaks down what Bionic Turtle, AnalystPrep, and Kaplan Schweser charge for the same study phase.

What the Bank Covers

Part 1 is 100 multiple-choice questions in 4 hours, weighted by GARP across four topics. The FreeFellow bank mirrors that structure:

  • Foundations of Risk Management (~20%): ERM frameworks, governance, CAPM and performance measures, ethics, and the classic disaster case studies (LTCM, Barings, the 2008 crisis)
  • Quantitative Analysis (~20%): probability distributions, hypothesis testing, regression, time series, simulation
  • Financial Markets and Products (~30%): futures, forwards, swaps, options, fixed income, MBS, and exchange mechanics
  • Valuation and Risk Models (~30%): VaR and expected shortfall, option pricing, binomial trees, duration and convexity, stress testing

Each topic has its own drill page with per-difficulty filtering, and the free diagnostic quiz gives a readiness baseline in about six minutes.

What a Solution Looks Like

Every item ships with a worked solution, not just an answer letter. Calculation questions walk the arithmetic step by step. Conceptual questions explain why the credited choice is right and what misconception each distractor represents. If you have ever marked a practice question wrong and stared at a one-line answer key, this is the fix.

Original Questions, Current Conventions

Two things worth being explicit about:

  1. Everything is original. FreeFellow writes its own items to the current GARP study guide. No GARP exam content, no GARP practice-exam questions, no scraped third-party material. GARP distributes its own practice exams to registered candidates directly.
  2. The bank tracks the current curriculum. Rate content is SOFR-based throughout. Retired material (LIBOR mechanics, Eurodollar futures) has been swept out, which matters because older third-party banks still circulate questions on instruments that no longer appear on the syllabus.

How to Use It

A sequence that works for most candidates:

  1. Take the diagnostic to find your weakest topic area.
  2. Drill by topic, weakest first. Read every solution, including for questions you got right.
  3. Switch to mixed practice once per-topic accuracy stabilizes, because the real exam interleaves topics.
  4. Watch the readiness score. It weights recent performance by topic and tracks you against the pass threshold as you go.

The 6-month Part 1 study plan lays out a week-by-week schedule that wraps this loop in a calendar.

Where Part 2 Fits

After Part 1, the same free model applies to FRM Part 2 practice: the full bank, free, with solutions. Part 2 shifts heavily conceptual, so the practice mix changes with it.