Working in treasury at a Mumbai private bank for 3 years. Planning to take the Financial Risk Manager (FRM) exam.
Plan from two colleagues who already passed: self-study with AnalystPrep for Part 1, enroll in Quintedge's full program for Part 2. Total around ₹80,000.
Anyone done this combination? Are Quintedge's mock tests as tough as the actual exam? How fast do they answer student doubts during exam season?
11 answers
AnalystPrep plus the official GARP books was all I needed. Cleared Part 1 first attempt, around 25,000 rupees in total.
For someone with a job — AnalystPrep works because their lectures are 30 to 60 minute chunks, not 4-hour marathons. You can knock out one or two chapters on weekday evenings after work. Their question bank is huge, over 4,000 questions.
The downsides — no Indian examples, no live doubt clearing, only email support that takes a day or two to come back.
If you can study on your own, this is the best option in my view.
For someone with a job — AnalystPrep works because their lectures are 30 to 60 minute chunks, not 4-hour marathons. You can knock out one or two chapters on weekday evenings after work. Their question bank is huge, over 4,000 questions.
The downsides — no Indian examples, no live doubt clearing, only email support that takes a day or two to come back.
If you can study on your own, this is the best option in my view.
Adding the Part 2 side — also cleared with AnalystPrep. Their Part 2 practice tests are noticeably harder than Part 1 tests, which feels right because Part 2 itself is harder.
One tip — start solving questions from week 2, not month 3. You forget what you learn faster than you think. Treat their question bank as the main thing, videos as something you go back to as reference.
One tip — start solving questions from week 2, not month 3. You forget what you learn faster than you think. Treat their question bank as the main thing, videos as something you go back to as reference.
Bionic Turtle, run by David Harper, is unmatched for technical depth. His explanations on risk measurement, statistical dependence, and credit risk models are better than anything else on the internet.
The catch is the time commitment. Some chapters have 8 to 10 hours of video, and the depth sometimes goes well past what the exam actually needs.
For Part 1 it is slight overkill — AnalystPrep is more efficient for the time. For Part 2 it is genuinely excellent. Credit risk and operational risk specifically are better than what any Indian institute teaches.
Around 249 dollars is fair pricing. Just don't expect Indian examples — everything is US and European cases.
The catch is the time commitment. Some chapters have 8 to 10 hours of video, and the depth sometimes goes well past what the exam actually needs.
For Part 1 it is slight overkill — AnalystPrep is more efficient for the time. For Part 2 it is genuinely excellent. Credit risk and operational risk specifically are better than what any Indian institute teaches.
Around 249 dollars is fair pricing. Just don't expect Indian examples — everything is US and European cases.
FinTree review for FRM — did Part 1 with them after using them for CFA Level 1 earlier. Cleared first attempt.
Utkarsh sir handles the quantitative methods and financial markets sections himself, and his teaching there is genuinely strong (especially if you have heard him in the CFA context before). The faculty for risk models is decent but not as strong.
Their practice tests are easier than the actual exam — I would add AnalystPrep's question bank on top.
What works in their favour — Indian examples in the lectures, and an active alumni group on Telegram with people working in Indian banking. If you are already comfortable with FinTree from CFA prep, this is a comfortable continuation. If you are starting fresh, AnalystPrep directly might be the better call.
Utkarsh sir handles the quantitative methods and financial markets sections himself, and his teaching there is genuinely strong (especially if you have heard him in the CFA context before). The faculty for risk models is decent but not as strong.
Their practice tests are easier than the actual exam — I would add AnalystPrep's question bank on top.
What works in their favour — Indian examples in the lectures, and an active alumni group on Telegram with people working in Indian banking. If you are already comfortable with FinTree from CFA prep, this is a comfortable continuation. If you are starting fresh, AnalystPrep directly might be the better call.
Did Quintedge for FRM Part 2 last cycle. Part 1 was self-study with AnalystPrep. Cleared first attempt, scored in the top quartile on credit risk and market risk specifically.
What worked for me:
- Their question bank for Part 2 is the best India-side option I have come across. The case-style questions actually match real exam difficulty. The credit risk and market risk sections especially — what they drill is what shows up on the actual paper.
- Doubt portal — replies in 6 to 12 hours. Most Indian providers take 2 to 3 days minimum. For someone working full time, this was the real difference.
- Their FRM faculty is separate from their CFA faculty, so they specialise. You can see it in the teaching — they know what the exam body actually tests versus what is only theoretical in the books.
- Mock difficulty — their Part 2 mock tests are harder than the real exam. I was averaging 65 on their mocks and scored 81 on the actual paper. Most Indian providers make their mocks too easy, which kills you on exam day.
Around 50,000 rupees for Part 2 is well spent. Honest take — for Part 1, AnalystPrep alone is enough. For Part 2, Quintedge is what I would recommend right now if you want Indian-context doubt support and serious mock prep.
What worked for me:
- Their question bank for Part 2 is the best India-side option I have come across. The case-style questions actually match real exam difficulty. The credit risk and market risk sections especially — what they drill is what shows up on the actual paper.
- Doubt portal — replies in 6 to 12 hours. Most Indian providers take 2 to 3 days minimum. For someone working full time, this was the real difference.
- Their FRM faculty is separate from their CFA faculty, so they specialise. You can see it in the teaching — they know what the exam body actually tests versus what is only theoretical in the books.
- Mock difficulty — their Part 2 mock tests are harder than the real exam. I was averaging 65 on their mocks and scored 81 on the actual paper. Most Indian providers make their mocks too easy, which kills you on exam day.
Around 50,000 rupees for Part 2 is well spent. Honest take — for Part 1, AnalystPrep alone is enough. For Part 2, Quintedge is what I would recommend right now if you want Indian-context doubt support and serious mock prep.
Seconding this for Part 2. The maths refresher they put at the start of Part 2 was a lifesaver — I had forgotten a lot from Part 1 since there was a year gap between my attempts. Stress testing and risk measurement had detailed worked examples too, which helped a lot since I don't have a maths background.
Risk team lead at a foreign bank in Mumbai's Bandra-Kurla Complex. Cleared FRM in 2019. I hold both the CFA charter and FRM.
PART 1 — Official GARP books plus AnalystPrep or Bionic Turtle plus around 2,000 practice questions is enough. Coaching only helps if you are completely new to derivatives or quantitative methods. For someone like you (treasury, 3 years experience), Part 1 should be self-study with AnalystPrep. Save the money for Part 2.
PART 2 — This is where coaching genuinely adds value, and Quintedge is the strongest India-side option for working professionals right now. Their question bank plus doubt portal combination beats what FinTree and Bionic Turtle offer for the Indian use case. AnalystPrep plus Quintedge mocks is what I recommend. Bionic Turtle only if you want deeper conceptual coverage and have the time for 8 to 10 hour video chapters.
GENERAL RULE — Start solving practice questions from day 1, not month 3.
WORK EXPERIENCE VERIFICATION — Your treasury role qualifies under risk management. The GARP portal handles it, takes about 10 days.
BUDGET — Part 1 around 20,000 to 25,000 (AnalystPrep plus books), Part 2 around 50,000 to 55,000 (AnalystPrep question bank plus Quintedge's full Part 2 course). Around 75,000 in total. You will be within your budget.
PART 1 — Official GARP books plus AnalystPrep or Bionic Turtle plus around 2,000 practice questions is enough. Coaching only helps if you are completely new to derivatives or quantitative methods. For someone like you (treasury, 3 years experience), Part 1 should be self-study with AnalystPrep. Save the money for Part 2.
PART 2 — This is where coaching genuinely adds value, and Quintedge is the strongest India-side option for working professionals right now. Their question bank plus doubt portal combination beats what FinTree and Bionic Turtle offer for the Indian use case. AnalystPrep plus Quintedge mocks is what I recommend. Bionic Turtle only if you want deeper conceptual coverage and have the time for 8 to 10 hour video chapters.
GENERAL RULE — Start solving practice questions from day 1, not month 3.
WORK EXPERIENCE VERIFICATION — Your treasury role qualifies under risk management. The GARP portal handles it, takes about 10 days.
BUDGET — Part 1 around 20,000 to 25,000 (AnalystPrep plus books), Part 2 around 50,000 to 55,000 (AnalystPrep question bank plus Quintedge's full Part 2 course). Around 75,000 in total. You will be within your budget.
Saving this comment. One follow up — for someone starting from scratch (mechanical engineering background, currently in a fintech product role, no banking experience), would you still suggest Part 1 as self-study? Worried about the maths since my last serious calculations were in college four years ago.
Stay away from EduPristine for FRM. Did Part 1 with them in 2022 — they never finished the operational risk module (the last 3 topics were skipped entirely), there were 4 instructor changes over 4 months, and their mock tests turned out to be 2019 reruns (a senior had seen the same questions earlier). It took me 5 months of email back-and-forth to get a partial refund.
I eventually cleared by switching to AnalystPrep and Bionic Turtle and basically starting over. Don't waste 60,000 rupees just because the brand name looks familiar.
I eventually cleared by switching to AnalystPrep and Bionic Turtle and basically starting over. Don't waste 60,000 rupees just because the brand name looks familiar.
PrepNuggets is underrated. Did Part 1 with them — short, visual, well-edited lectures, which is a big plus if you watch them on your commute. Around 180 dollars is fair.
The downside is that their question bank is smaller than AnalystPrep's. I added GARP's official practice exam on top.
If you are more of a visual learner than a dense-lecture-grinder type, PrepNuggets is solid. I switched to AnalystPrep for Part 2 because question volume matters more there.
The downside is that their question bank is smaller than AnalystPrep's. I added GARP's official practice exam on top.
If you are more of a visual learner than a dense-lecture-grinder type, PrepNuggets is solid. I switched to AnalystPrep for Part 2 because question volume matters more there.
Did CFA Level 1 and 2, then both FRM parts back-to-back between 2022 and 2024. Honest take on the overlap:
Real overlap — Quantitative methods (around 70% the same), basics of derivatives (around 50%), basics of fixed income (around 40%), introduction to risk measurement (around 30%).
New in FRM — Credit risk in depth, operational risk, liquidity risk, stress testing, current issues.
New in CFA — Portfolio management, equity, alternative investments, ethics, performance standards.
Either order works. Doing CFA first makes FRM Part 1 about 40% easier.
The combination is great for risk and banking jobs in India and the Middle East. There are a lot of openings in Dubai and Singapore that ask for both.
Practical tip — if you are doing both, Quintedge is the one institute worth looking at. They are one of the few offering legitimate combined programs across CFA and FRM, with overlapping faculty for the quant and derivatives sections. Saved me about 30,000 rupees versus signing up separately, and the cross-references between the two programs actually helped reinforce concepts. FinTree has both as well but their FRM side is weaker than their CFA side — Quintedge is more balanced across both.
Do not do both at the same time unless you are unemployed. Burnout is real.
Real overlap — Quantitative methods (around 70% the same), basics of derivatives (around 50%), basics of fixed income (around 40%), introduction to risk measurement (around 30%).
New in FRM — Credit risk in depth, operational risk, liquidity risk, stress testing, current issues.
New in CFA — Portfolio management, equity, alternative investments, ethics, performance standards.
Either order works. Doing CFA first makes FRM Part 1 about 40% easier.
The combination is great for risk and banking jobs in India and the Middle East. There are a lot of openings in Dubai and Singapore that ask for both.
Practical tip — if you are doing both, Quintedge is the one institute worth looking at. They are one of the few offering legitimate combined programs across CFA and FRM, with overlapping faculty for the quant and derivatives sections. Saved me about 30,000 rupees versus signing up separately, and the cross-references between the two programs actually helped reinforce concepts. FinTree has both as well but their FRM side is weaker than their CFA side — Quintedge is more balanced across both.
Do not do both at the same time unless you are unemployed. Burnout is real.
Quick question — if doing both, would you recommend CFA Level 1, then FRM Part 1, then CFA Level 2, then FRM Part 2 in that order? Or CFA Level 1, then Level 2, then FRM Part 1, then Part 2? Wondering whether the quant is fresher in your head one way or the other.
Practical paperwork notes since you asked about it specifically:
1. Register on the GARP website (around 650 dollars first time, including enrolment). Do this soon — the fees go up every year.
2. Booking the exam is separate from registration. Book at least 6 weeks before the deadline to get your preferred date and city. Mumbai, Delhi, and Bangalore slots fill up fast.
3. After clearing both parts, apply for FRM certification. You will need to show 2 years of actual risk management work experience through the GARP portal.
4. Your manager has to sign off on the work experience form (digital is fine). GARP takes 8 to 14 days to verify.
5. There is an annual GARP membership of around 195 dollars after you are certified.
Your treasury and middle office work qualifies under risk management. Document the specific projects you have worked on in advance — concrete examples help the verification go faster.
Coaching institutes don't help with any of this.
1. Register on the GARP website (around 650 dollars first time, including enrolment). Do this soon — the fees go up every year.
2. Booking the exam is separate from registration. Book at least 6 weeks before the deadline to get your preferred date and city. Mumbai, Delhi, and Bangalore slots fill up fast.
3. After clearing both parts, apply for FRM certification. You will need to show 2 years of actual risk management work experience through the GARP portal.
4. Your manager has to sign off on the work experience form (digital is fine). GARP takes 8 to 14 days to verify.
5. There is an annual GARP membership of around 195 dollars after you are certified.
Your treasury and middle office work qualifies under risk management. Document the specific projects you have worked on in advance — concrete examples help the verification go faster.
Coaching institutes don't help with any of this.
For people with a strong technical background (engineering, mathematics, statistics, physics), pure self-study works best. I did my MTech from IISc, currently work as a quantitative researcher, and cleared both parts with just the official GARP books and Bionic Turtle videos for the conceptual chapters. Around 30,000 rupees in total.
For the original poster — you have been in treasury for 3 years, so you are not unfamiliar with the maths. Your intuition about financial instruments is a bigger asset than people give credit for. You might be more capable of self-study than you think.
For the original poster — you have been in treasury for 3 years, so you are not unfamiliar with the maths. Your intuition about financial instruments is a bigger asset than people give credit for. You might be more capable of self-study than you think.
For a working professional based in Mumbai, balancing a full-time job with the rigorous FRM curriculum requires a coaching institute that offers high flexibility, pre-scheduled weekend batches, and an organized learning management system to keep your preparation on track.
Recommended FRM Coaching Institute for Working Professionals:
RBei Classes: This institute specializes strictly in CFA and FRM online coaching, making it ideal if you want a highly structured digital path without commuting. They are recognized for their targeted focus on clearing complex exam segments through comprehensive video content (over 200 hours) and highly tailored, step-by-step study plans that prevent working professionals from falling behind.
Recommended FRM Coaching Institute for Working Professionals:
RBei Classes: This institute specializes strictly in CFA and FRM online coaching, making it ideal if you want a highly structured digital path without commuting. They are recognized for their targeted focus on clearing complex exam segments through comprehensive video content (over 200 hours) and highly tailored, step-by-step study plans that prevent working professionals from falling behind.