Study factor theory, alpha, portfolio construction, VaR and risk budgeting, performance evaluation, hedge funds, manager due diligence and investment fraud indicators.
Qualification facts verified against FRM Part II Risk Management and Investment Management book scope. Last checked 2026-08-02. Official GARP FRM study-materials page. The supplied official book controls the 11-chapter learning content. Current GARP sources verify the Part II domain structure and official exam format.
Risk Management and Investment Management practice inventory
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Which statement correctly explains Buy-side VaR?
Risk Management and Investment Management moves from factor theory, factor premiums and alpha into portfolio construction, analytical risk, VaR-based risk budgeting, monitoring, performance evaluation, hedge funds, manager due diligence and fraud indicators.
This course keeps all 11 chapters together as one source-grounded learning hub with 130 flashcards, a 142-item reference sheet, detailed summaries, five timed mocks and a grounded AI tutor.
The official FRM Part II exam contains 80 equally weighted multiple-choice questions across all Part II domains and lasts four hours. These 20-question papers preserve the average pace but are book-level topical practice. The 70% result is an internal mastery target, not an official GARP pass mark.
| Assessment | Book-level topical practice: 20 multiple-choice questions in 60 minutes. The official FRM Part II exam covers all Part II domains with 80 equally weighted questions in four hours. |
| Duration | 60 Minutes |
| Feature | Exams Academy | Details |
|---|---|---|
| Access Period | Lifetime Access | One-time enrollment with no recurring fee |
| Practice Exams | Unlimited Retakes | Five 20-question timed book-level mock exams |
| Study Support | Instant 24/7 AI Tutor | Self-service AI support; live instructor support is not included |
| Cost | $89 (One-Time) | One-time payment with no recurring subscription |
Test all 11 chapters through five 20-question papers at the official Part II pace.
Clarify factors, alpha, portfolio risk, performance and manager due diligence.
Strengthen memory with 130 flashcards and a 142-item reference sheet.
Connect returns with factors, benchmarks, risk, cost and verified manager evidence.
Use the same question bank in two different ways: build understanding with instant feedback, then switch to a realistic simulation when you are ready.
Choose an answer, see immediately whether it is right or wrong, and read the explanation before moving on.
Work against the official-style timer without revealing answers, then review your score and every explanation after submission.
CAPM, multifactor models, stochastic discount factors and market efficiency.
Value, macro, size, momentum and dynamic factor exposures.
Benchmarks, regressions, nonlinear payoffs and low-risk anomalies.
Alpha processing, costs, optimization and dispersion.
Portfolio, marginal, incremental and component VaR.
Absolute and relative risk, guidelines and risk allocation.
Risk plans, budgets, monitoring, attribution and ratios.
Return conventions, risk adjustment, timing and attribution.
Business models, styles, factor exposures, tail risk and fees.
Investment, risk, operational, service-provider and fraud review.
Regulatory data, prediction models and implementation limits.
Preparation centre
Use these connected guides for the syllabus, exam format, booking and revision strategy.
No. It covers the Risk Management and Investment Management printed book. Candidates also need the other Part II books and Current Issues readings.
GARP describes Part II as 80 equally weighted multiple-choice questions completed in four hours across all domains.
No. They are book-level topical practice at the official average pace.
No. GARP does not publish a fixed percentage pass mark; 70% is an internal mastery target.
No. Exams Academy is an independent education provider and is not affiliated with or endorsed by GARP.
You receive lifetime access with no recurring subscription fee.
Yes! Test your knowledge and see our AI tutor explanations with the free GARP FRM Part II - Risk Management and Investment Management (Book 5) Sample Paper. It contains 15 questions from one named topic and is not a full mock exam or overall readiness assessment.
Master this FRM curriculum book with source-grounded summaries, active recall and clearly scoped book-level practice before combining it with the rest of the curriculum.
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