2024

FRM PART I
STUDY PLAN
A detailed study plan with topic
sequence for preparation and
difficulty levels of topic

By Shashank Wandhe, FRM

From Falconedufin.com
 ABOUT

SHASHANK

• Teaching faculty and Founder of Falcon Edufin

• More than 6 years of experience

• Faculty for FRM, CFA and CA AFM

• Helped 1000+ students in achieving success

 January 2024
T1 Fundamentals of Probability 2 T5 Sample Moments
T2 Random Variables T6 Hypothesis Testing
1

2
W E E K

W E E K
T3 Common Univariate RV T1 Banks

T4 Multivariate Random Variables T2 Insurance Companies

T3 Fund Management

T4 Introduction to Derivatives T8 Using Futures for Hedging

T5 Exchange and OTC Derivatives T9 Foreign Exchange Market
4
3

W E E K
W E E K

T6 Central Clearing T10 Pricing Financial Forward Markets

T7 Futures Market T11 Commodities Forward and Futures

T12 Options Market

Self Study Sequence FRM Part I May 2024 | August 2024| Falconedufin.com WhatsApp : +919096131868
 February 2024
T7 Linear Regression T16 Properties of Interest Rates
T8 Regression with Multiple Exp Var T17 Corporate Bonds

2
1

W E E K
W E E K

T9 Regression Diagnostics T19 Interest Rate Futures

T9 Pricing Conventions, Discounting

T10 Interest Rates T15 Exotic Options

T11 Bonds Yields and Returns Calc T14 Binomial Trees
4
3

W E E K
W E E K

T13 Properties of options T15 The BSM Model

T14 Trading Strategies T16 Option Sensitivity – Greeks

Self Study Sequence FRM Part I May 2024 | August 2024| Falconedufin.com WhatsApp : +919096131868
 MARCH 2023
March 2024
T18 Mortgage and MBS T1 Measures of Financial Risk
T20 Swaps T2 Calculating and Applying VaR

2
1

W E E K
W E E K

T12 Applying Duration and Convexity T3 Measuring and Monitoring Volatility

T13 Modeling non-parallel term structure

T10 Stationary Time Series T5 Modern Portfolio Theory

T11 Non-stationary time series T6 The APT and Multifactor
3

4
W E E K

T12 Measuring volatility return W E E K T1 Building Blocks of RM

T13 Simulation and Bootstrapping T9 Learning from Financial Disaster

T10 Anatomy of Great Financial Crisis

Self Study Sequence FRM Part I May 2024 | August 2024| Falconedufin.com WhatsApp : +919096131868
 April 2024
T4 External and Internal Credit Rating T7 Operational Risk
T5 Country Risk T2 How do Firms manage risk

2
1

W E E K
W E E K

T6 Measuring Credit Risk T3 The Governance of RM

T14 Machine Learning Methods T4 Credit Risk Transfer Mech

T15 Machine Learning And Prediction T5 Principles of Effective data

T8 Stress Testing
Mock Test Round 2
T8 Enterprise risk management
4
3

W E E K
W E E K

T11 GARP Code of conduct

Mock Test Round 1

Self Study Sequence FRM Part I May 2024 | August 2024| Falconedufin.com WhatsApp : +919096131868
 Book 1 Foundations of Risk Management

Book No Sr No Chapter Name Difficulty Level

Book 1 1 The building blocks of risk Management Easy
Book 1 2 How do firms manage Risk Easy
Book 1 3 The Governance of Risk Management Easy
Book 1 4 Credit risk Transfer Mechanisms Easy
Book 1 5 Modern Portfolio Theory and Capital Asset Pricing Model Medium
Book 1 6 The Arbitrage Pricing Theory and Multifactor risk and Return Medium
Book 1 7 Principles for Effective data aggregation and risk reporting Medium
Book 1 8 Enterprise risk management and future Trends Easy
Book 1 9 Learn from financial Disaster Medium
Book 1 10 Anatomy of the Great Financial Crisis Easy
Book 1 11 GARP Code of Conduct Medium

D i f f i c u l t y L e v e l o f To p i c s
 Book 2 Quantitative Analysis

Book No Sr No Chapter Name Difficulty Level

Book 2 1 Fundamentals of Probability Easy
Book 2 2 Random Variable Medium
Book 2 3 Common Univariate Random Variables Medium
Book 2 4 Multivariate Random Variables Hard
Book 2 5 Sample Moments Medium
Book 2 6 Hypothesis Testing Medium
Book 2 7 Linear Regression Medium
Book 2 8 Regression with Multiple explanatory Variables Medium
Book 2 9 Regression Diagnostics Medium
Book 2 10 Stationary Time Series Hard
Book 2 11 Non Stationary Time Series Hard
Book 2 12 Measuring Returns, Volatility and Correlation Hard
Book 2 13 Simulation and Bootstrapping Medium
Book 2 14 Machine learning methods Medium
Book 2 15 Machine Learning Predictions Medium

D i f f i c u l t y L e v e l o f To p i c s
 Book 3 Financial Markets and Products

Book No Sr No Chapter Name Difficulty Level

Book3 1 Banks Easy
Book3 2 Insurance companies and pension plans Easy
Book3 3 Funds management Easy
Book3 4 Introduction to Derivatives Medium
Book3 5 Exchange and OTC Markets Medium
Book3 6 Central Clearing Easy
Book3 7 Futures Market Medium
Book3 8 Using Futures for Hedging Medium
Book3 9 Foreign Exchange Market Hard
Book3 10 Pricing Financial Forwards and Futures Medium
Book3 11 Commodity forward and Futures Medium
Book3 12 Options Markets Medium
Book3 13 Properties of Options Medium
Book3 14 Trading Strategies Medium
Book3 15 Exotic Options Medium
Book3 16 Properties of Interest Rates Medium
Book3 17 Corporate Bonds Easy
Book3 18 Mortgages and Mortgage Backed S4ecurities Medium
Book3 19 Interest Rate Futures Medium
Book3 20 Swaps Medium

D i f f i c u l t y L e v e l o f To p i c s
 Book 4 Valuation and Risk Models

Book No Sr No Chapter Name Difficulty Level

Book 4 1 Measures of Financial Risk Medium
Book 4 2 Calculation and applying Var Medium
Book 4 3 Measuring and Monitoring Volatility Medium
Book 4 4 External and Internal Credit Rating Easy
Book 4 5 Country Risk, Determinants, Measures and Implications Easy
Book 4 6 Measuring Credit Risk Medium
Book 4 7 Operational Risk Easy
Book 4 8 Stress Testing Easy
Book 4 9 Pricing , Conventions, discounting and Arbitrage Medium
Book 4 10 Interest Rates Medium
Book 4 11 Bonds Yields and return Calculations Medium
Book 4 12 Applying Duration, convexity and DV01 Medium
Book 4 13 Modelling Non Parallel Terms structure shifts and Hedging Hard
Book 4 14 Binomial Trees Medium
Book 4 15 The Black Scholes Merton Model Medium
Book 4 16 Option Sensitivity Measures, The Greeks Hard

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D i f f i c u l t y L e v e l o f To p i c s
 2024

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