What is the format of the Level 1 FRM Exam?
The Level 1 FRM Exam is the first of two exams in the new Expanded FRM Program. The Level 1 Exam will be offered for the first time in November 2009 and is a 4-hour exam containing 100 multiple-choice questions. The exam is split into two equal sections of 2 hours each and is given in booklet form.