Paper 1: FRM Part I Exam
- The Building Blocks of Risk Management
- How Do Firms Manage Financial Risk?
- The Governance of Risk Management
- Credit Risk Transfer Mechanisms
- Modern Portfolio Theory (MPT) and the Capital Asset Pricing Model (CAPM)
- The Arbitrage Pricing Theory and Multifactor Models of Risk and Return
- Principles for Effective Data Aggregation and Risk Reporting
- Enterprise Risk Management and Future Trends
- Learning From Financial Disasters
- Anatomy of the Great Financial Crisis of 2007-2009
- GARP Code of Conduct
- Fundamentals of Probability
- Random Variables
- Common Univariate Random Variables
- Multivariate Random Variables
- Sample Moments
- Hypothesis Testing
- Linear Regression
- Regression with Multiple Explanatory Variables
- Regression Diagnostics
- Stationary Time Series
- Nonstationary Time Series
- Measuring Return, Volatility, and Correlation
- Simulation and Bootstrapping
- Machine-Learning Methods
- Machine Learning and Prediction
- Banks
- Insurance Companies and Pension Plans
- Fund Management
- Introduction to Derivatives
- Exchanges and OTC Markets
- Central Clearing
- Futures Markets
- Using Futures for Hedging
- Foreign Exchange Markets
- Pricing Financial Forwards and Futures
- Commodity Forwards and Futures
- Options Markets
- Properties of Options
- Trading Strategies
- Exotic Options
- Properties of Interest Rates
- Corporate Bonds
- Mortgages and Mortgage-Backed Securities
- Interest Rate Futures
- Swaps
- Measures of Financial Risk
- Calculating and Applying VaR
- Measuring and Monitoring Volatility
- External and Internal Credit Ratings
- Country Risk: Determinants, Measures, and Implications
- Measuring Credit Risk
- Operational Risk
- Stress Testing
- Pricing Conventions, Discounting, and Arbitrage
- Interest Rates
- Bond Yields and Return Calculations
- Applying Duration, Convexity, and DV01
- Modeling Non-Parallel Term Structure Shifts and Hedging
- Binomial Trees
- The Black-Scholes-Merton Model
- Option Sensitivity Measures: The "Greeks"