FRM Level I: Financial Markets and Products I
The third course of the FRM Level I series, covering the first eleven official 2026 GARP readings of Financial Markets and Products — the largest area on the exam at 30%. Banks and their capital, insurance companies and pension plans, mutual funds, ETFs and hedge funds, derivatives from first principles, exchanges, OTC markets and central clearing, futures mechanics and the full hedging apparatus, foreign exchange markets and the parity conditions, and the pricing of financial and commodity forwards. Taught on one banking group, with every problem stated in exam form and solved by hand on a BA II Plus before any code runs.
- Level: intermediate
- Duration: 5 weeks
- 9 sections
- Price: $29.99
Topics: FRM, FRM Part I, financial markets and products, banks, economic capital, regulatory capital, Basel III, deposit insurance, originate-to-distribute, insurance companies, mortality tables, combined ratio, pension plans, defined benefit, mutual funds, ETFs, net asset value, hedge funds, high-water mark, derivatives, forwards, futures, options, exchanges, OTC markets, central clearing, CCP, margin, netting, basis risk, cross hedging, hedge ratio, tailing the hedge, stack and roll, foreign exchange, purchasing power parity, interest rate parity, cost of carry, convenience yield, contango, backwardation, index arbitrage, risk management, BA II Plus
What's inside
- FRM Level I: Financial Markets and Products I
- Chapter 1: Banks — Risks, Capital and the Business Model
- Chapter 2: Insurance Companies, Pension Plans and Fund Management
- Chapter 3: Introduction to Derivatives
- Chapter 4: Exchanges, OTC Markets and Central Clearing
- Chapter 5: Futures Markets and Hedging with Futures
- Chapter 6: Foreign Exchange Markets
- Chapter 7: Pricing Forwards and Futures — Financial Assets and Commodities
- Chapter 8: Financial Markets and Products I Practice Exam