Pass Rate Information

Context for Pass Rates

BT’s 73% pass rate:

  • The cumulative average of our most recent three surveys
  • The question asked was: “Did you pass the exam?”
  • The sample consists of approximately 1,200 survey respondents; of course, we cannot control for response (aka, self-reporting) bias

GARP’s average 46/56% pass rate:

  • This is now a 10-year sample (20 exams; starting with May 2010 when the FRM split into two parts)!
  • The Part 1 pass rate of 45.9% happens to be coincident with its long-term average
  • The Part 2 pass rate of 58.6% dropped from May’s local peak of 60.5%. Last May’s gap of 18.7% (i.e., 60.5% – 41.8% = 18.7%) was the largest gap in the exam’s history. This November’s gap was only 12.7% (i.e., 58.6% – 45.9% = 12.7%) and is nearer to the long-run gap of 10.6%. Historically, we’ve said that the P2 pass rate is about 10% higher than the P1 pass rate, so we’re getting back to that.

See table below for historical pass rates from GARP:

 Information to Buy Subscriptions

  1. Bionic Turtle offers study packages for Part 1 and Part 2. We also offer three different levels within those two parts depending on the materials that you would like to access.
  2. After purchasing one of our packages, you will have access to the materials in the study planner, including updates, for one year.
  3. We offer upgrades if you find that you would like access to more materials after you have purchased one of the basic or advanced packages.

Helpful Links

  1. Our Features & Pricing page provides information and pricing on all of the packages that we offer.
  2. Bionic Turtle’s Forum is a great place to ask questions. There are many previous and current FRM candidates who are involved in active discussions that are very informative!
  3. Visit our Study Planner for free samples of our materials so you know exactly what you are purchasing.
  4. Our FAQ page will answer questions that you may have before purchasing a subscription.


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