FRM study notes that feel like guided lessons, not text dumps
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Risk Governance and Enterprise Risk Management
How organizations structure risk oversight, the board's role, and the ERM framework that ties everything together.
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Risk Management Failures: Case Studies
Barings, LTCM, Enron, Bear Stearns, and other landmark failures — what went wrong, why, and the lessons for risk managers.
Part 1 — Core Buildout
Governance, quant, market structure, and valuation readings organized into cleaner, more visual study blocks.
Foundations of Risk Management
Core concepts including risk governance, enterprise risk management, and the role of risk management in corporate governance.
Risk Governance and Enterprise Risk Management
How organizations structure risk oversight, the board's role, and the ERM framework that ties everything together.
Risk Management Failures: Case Studies
Barings, LTCM, Enron, Bear Stearns, and other landmark failures — what went wrong, why, and the lessons for risk managers.
Capital Adequacy, Regulation, and Basel Framework
The regulatory landscape for financial institutions: Basel I/II/III, capital requirements, and the interplay between risk management and regulation.
Quantitative Analysis
Probability distributions, hypothesis testing, regression analysis, volatility estimation, and simulation methods.
Probability Distributions and Hypothesis Testing
The statistical foundations every FRM candidate must master: normal, lognormal, t-distributions, confidence intervals, and Type I/II errors.
Regression Analysis for Risk Management
Linear regression, multivariate models, R-squared, heteroscedasticity, and how regression is used in factor models and risk attribution.
Financial Markets and Products
Structure and mechanics of financial markets, derivatives, fixed income, and foreign exchange.
Valuation and Risk Models
Value-at-Risk, bond valuation, option pricing models, and risk measures.
Part 2 — Applied Risk Management
Market, credit, liquidity, investment, and current-issues notes designed for faster synthesis and review.
Market Risk Measurement and Management
VaR approaches, parametric and non-parametric methods, backtesting, and stress testing.
Credit Risk Measurement and Management
Credit analysis, default probability models, credit derivatives, and counterparty risk.
Operational Risk and Resilience
Operational risk frameworks, loss data analysis, model risk, and business continuity.
Liquidity and Treasury Risk
Liquidity risk management, funding strategies, and treasury operations.
Risk Management and Investment Management
Portfolio risk management, factor models, hedge fund risk, and performance measurement.
Current Issues in Financial Markets
Contemporary topics in risk management including climate risk, fintech, and regulatory developments.