FRM books from one year to another

Hi everyone, I plan to take the FRM level 1 in November 2016 . I have a friend who agrees to hand me her books but they are from 2013. Do you think that from one year to another, the FRM books change a lot? Can I use her books? Same for the exams. If ever I do not pass the exam in November 2016 and that I will return in May 2017, will I have to get the new books? Will the exams be completely differents? Thank you very much. _ Semsem _

Ooh I would imagine there would be SIGNIFICANT differences between the 2013 and 2016 curriculum - the FRM curriculum changes much, much more than the CFA curriculum each years. I heard up to 20% changes every year!

So yeah - I would try to get something much more recent.

Ok so I will buy the Garp books. But if I failed my level 1 in November 2016, I will have to buy the books for level 1 for the next exam in May 2017?

Thank you by the way S666

I would think you could probably get away with using 1 year old books from November to May without too much bother as long as you make a special effort to check exactly what has changed and make sure you study those updated sections from the most recent source…

No worries…happy to try to help :wink:

Hi, just a quick note to help out here. There are NO changes between May and Novmeber. All changes occur on the calendar year basis and I get the new exam material for the following year exam from GARP around October of each year.

Also, I’ve noticed GARP making more changes in the learning objectives while keeping the readings the same. So, if you have old notes, while the readings may be the same, the LOs from that reading that will be on the exam are different!

Unless you take the time to go through each Learning objective ( ~ 600 per part) then you will miss a few things. GARP does provide a change document from year to year that will help you locate changes. Hope that helps.


I have 2020 part 1 and 2 frm garp e-books (pdf). Please reach out on if you need these books.