FRM Part II retake: diagnose the result and rebuild your plan
For an FRM Part II retake, check the next registration window and your candidate status, budget the applicable exam fee, and diagnose the previous result before choosing a new study schedule. Check your Part II completion deadline from the year you passed Part I.
| Retake question | What to check |
|---|---|
| Next sitting | Choose an available exam window, register and separately schedule a seat. A prior appointment is not a new booking. |
| Exam fee | The published May 2027 price is USD 600 early or USD 800 standard, before applicable tax. Confirm your candidate invoice. |
| Enrollment fee | The separate USD 400 enrollment charge is for new candidates. A requirement to re-enroll is different from an ordinary retake; check your status. |
| Is my Part I pass still valid? | GARP requires passing Part II by December 31 of the fourth year after the year of the Part I pass. |
| What to study again | Use topic quartiles, fresh questions and timing evidence. Quartiles do not reveal an exact score or marks short of passing. |
- First action
- DiagnoseRead the result report and classify fresh errors.
- Example plan
- 6 weeksFor repair after prior coverage, not a first-pass course.
- Score report
- Relative quartilesDo not convert them into an exact percentage.
What the report can and cannot tell you
Treat the quartile report as a lead to investigate. Combine it with your recall of time pressure and a fresh set of questions. A broad topic rank cannot identify which calculation, assumption or reading caused the problem. Do not invent a numerical score from quartiles or average them into a pass estimate.
| Observation | Follow-up probe | Action if confirmed |
|---|---|---|
| Operational weakness | Can you map a control to the actual disruption? | Work cause-control-recovery scenarios. |
| Liquidity weakness | Can you distinguish cash needs from asset value? | Build short cash-flow and collateral examples. |
| Current Issues weakness | Did you study every required reading for this year? | Rebuild the reading map with mechanisms and limitations. |
A six-week recovery example
Use this compressed plan only if most of the syllabus remains familiar. At 15 hours a week it provides 90 hours of repair. If the diagnostic reveals broad first-pass gaps, return to the full syllabus and allow more time.
| Week | Work | Exit evidence |
|---|---|---|
| 1 | Read the report; take fresh mixed questions; classify errors. | A ranked list of specific methods and readings to repair. |
| 2 | Repair the weakest applied risk domain. | Changed-input questions solved with explanations. |
| 3 | Repair operational/liquidity gaps and required readings. | New scenarios answered without copied notes. |
| 4 | Full timed mock, then detailed diagnosis. | Time by block and cause for every miss or guess. |
| 5 | Repair recurring causes; run a second fresh timed mock. | Evidence of transfer, not repeated-answer memory. |
| 6 | Short mixed review, pacing checks and admission preparation. | Coverage ledger and documents checked. |
A useful error log records the cause
Log correct guesses as well as wrong answers. Separate knowing the rule from selecting it under time. A useful entry leads to a changed task, not simply another reading of the explanation.
| Observed miss | Cause to test | Repair | Fresh check |
|---|---|---|---|
| Duration answer is 100 times too large. | Percentage points used without converting to decimals. | Write 20 bp = 0.002 before calculating. | Solve a new 35 bp shock. |
| VaR described as a maximum loss. | Quantile confused with a bound. | Explain the tail beyond the confidence level. | Compare two tails with the same VaR. |
| A control does not prevent the described failure. | Matched a familiar control to the wrong cause. | Map event, cause and response. | Use a different service disruption. |
Check the next window before buying more preparation
Confirm your Part I pass year and the Part II completion deadline before choosing another window. GARP’s policy uses December 31 of the fourth year after passing Part I. Then check the new appointment, course access and current-year reading list.
Separate domain gaps from reading and judgment gaps
Rebuild the record of your previous preparation around the six domains and the assigned Current Issues papers. A candidate may have covered calculation-heavy material thoroughly while giving qualitative cases or required readings little attention. The result report can guide investigation, but it cannot identify the precise missed argument or method.
Take a fresh case from an area you suspect is weak. Explain the exposure, the mechanism and the response before looking at the answer. If the calculation fails, repair its prerequisite. If the calculation works but the response is wrong, compare the decision alternatives. If the paper is unfamiliar, return to the actual assigned reading instead of collecting more general news summaries.
Check the exam year of every reading and course resource you intend to reuse. A later sitting can require a changed curriculum. Keep a record of retained, changed and newly assigned material so that a retake does not accidentally become preparation for the previous edition.
Make the next attempt test a different preparation process
Suppose a mock review shows that you can calculate risk measures but repeatedly select a control that addresses the wrong failure. More formula practice is unlikely to fix that pattern. Write a short cause-and-response explanation for each missed case, then change one fact and reconsider the answer. This tests whether the reasoning transfers.
For required readings, replace a stack of highlighted pages with a reading record you can explain without the source open. State the main mechanism, supporting evidence, uncertainty and a relevant management response. Verify the record against the paper afterward. Do not fill gaps with plausible claims that the authors did not make.
Choose the next sitting only after comparing the remaining work with your capacity and the Part II completion deadline in your candidate record. A prior Part I pass creates a policy constraint, but it does not determine the learning plan. Preserve enough time to test the repairs in fresh mixed practice and a full-length rehearsal.
Common questions
- Can I calculate my exam score from quartiles?
- No. They are relative performance groups, not exact percentages or a distance from the passing standard.
- Do I need to buy another question bank?
- Only if it fills an identified gap, such as a lack of fresh questions or explanations. More volume alone does not repair a faulty method.
- Should I repeat my entire Part II course?
- Use a fresh diagnostic. Repeat the full course if coverage is broadly missing; otherwise focus on verified weaknesses and retain mixed review.
Sources and editorial notes
By MiloPrep editorial team. Source check: . Official requirements and product information can change. Examples and planning allocations are independent teaching material, not official questions or passing standards.
- GARP: exam fees and payments ↗
Displayed May 2027 registration fees, taxes and the separate one-time enrollment fee for new candidates.
- GARP: program and exams ↗
Exam counts, timing, topic areas, preparation benchmark and results policy.
- GARP: exam policies ↗
Identification, calculator rules, refunds, deferrals, appointment changes and certification deadlines.
- GARP: exam logistics ↗
November 2026 windows, May 2027 registration periods and TBD testing dates, scheduling deadlines and booking providers.
- GARP: 2026 Learning Objectives download ↗
2026 syllabus, approximate weights and reading-level objectives; download page reports a December 1, 2025 last update.
- GARP: 2026 required Current Issues readings ↗
The six published Current Issues themes and eight required readings.
MiloPrep is an independent study resource and is not affiliated with or endorsed by GARP or the named providers. FRM and provider names are trademarks of their respective owners. Editorial methodology.