The Global Association of Risk Professionals posted intimidating FRM exam pass rates in November 2024: 55% for Part I and 52% for Part II. With coin-flip odds, choosing the right prep partner may be the difference between a passing score and the dreaded retake.
Naturally, choosing the best FRM® prep provider is essential. But… which one do you pick?
I personally tested the courses (and researched the companies behind them) to help you make that decision. In this guide, I’ll cover key features, pros and cons, and course vs. course comparisons to help you make the best investment for your hard-earned cash.
Ready? Let’s dig in.
FRM® Exam Prep Course Comparison
| Providers |  |  |  |
|---|---|---|---|
| Price Range(Both Levels) | $599 to $999 | $948 to $1,748 | $998 to $1,598 |
| Discounts | Save 30% | Save 15% | No Discounts |
| Course Format | On Demand | On Demand | Live Sessions and On Demand |
| Guarantees | N/A | Schweser’s PassProtection™ | N/A |
| Refund Policy | No Refunds | 14 Days | 5 Business Days |
| Support | Unlimited Ask-a-Tutor Questions, 24/7 Technical Support | Community Forum and InstructorLink | Forum Access with Instructor Support |
| Best For | Visual Learners on a Budget | Detail-Oriented, Structured Students | Students Struggling with Math |
| Get Started | Start Now | Start Now | Start Now |
Matching FRM® Courses With Perfect-Fit Students
- AnalystPrep is best for visual learners and students who want a flexible, budget-friendly option.
- Kaplan Schweser fits detail-oriented students who need structure and comprehensive support.
- Bionic Turtle is ideal for students who want extra help breaking down tricky math.
1. AnalystPrep: Best For Visual Learners
AnalystPrep’s strategy appears to be relatively simple: through a collection of compelling video lessons, practice questions, study notes, performance tracking tools, and support, AnalystPrep has created an efficient way to tackle your test prep. Notably, they’re surprisingly affordable—AnalystPrep’s 2-level bundle costs about the same price as a single premium level from Kaplan Schweser or Bionic Turtle. Plus, this package includes lifetime access. If you’re the kind of person who forgets about your 7-day free trial, lifetime access might give you more peace of mind.
However, even with all of those perks, I’d argue that AnalystPrep’s greatest source of value lies in their 93-hour video library. The lead lecturer, James Forjan, is an outstanding teacher. I loved his quirky yet compassionate energy, and he’s simultaneously entertaining and comforting to listen to. These videos don’t talk down to you—they’re not going to use five sentences of purple prose to explain something when a few words could be just as effective.
Further, I appreciated his use of stories and humor to keep me interested and engaged, so I could actually learn the material. If you’ve ever fallen asleep in a lecture hall, you don’t need me to tell you the value of an enjoyable teacher; AnalystPrep delivers exactly that.
“Prof. Forjan explains the concepts very well, and with good examples I can relate to. He touches every learning objective and makes it very practical. This is value for money spent. The question banks, notes, and mocks are so comprehensive and covers all the objectives too. thank you AnalystPrep, thank you, Prof Forjan, for the great work.”
Nana Baffour
Fast Facts
- 93+ hours of video lessons
- 4,000+ practice questions
- Online and printable study notes and question banks
- CBT mock exams for both FRM® parts
- Formula sheets and performance tracking tools
- Unlimited ask-a-tutor questions
- Lifetime access to the FRM® study materials
- 24/7 support for technical issues
Promo Codes
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Pros
- Captivating video lessons that help you stay focused and memorize key topics
- Lifetime access to the materials, removing the anxiety of an impending deadline
- Endless technical support and unlimited expert Q&A
- Printable or digital materials for flexible study sessions
- Performance tracking and adaptive tech help you strengthen weak subjects
Cons
- Less comprehensive than providers like Kaplan Schweser
Check out my full AnalystPrep FRM® review.
Bottom Line
AnalystPrep’s outstanding video content, lifetime access, and unlimited support options make it a well-rounded choice for most aspiring financial risk managers. While it may not have the same level of comprehension as Kaplan Schweser, students with busy schedules will appreciate AnalystPrep’s more efficient, energy-saving approach.
AnalystPrep
2. Kaplan Schweser: Best For Deep Divers
Whereas AnalystPrep is all about efficiency, appealing to students with hectic schedules, Kaplan Schweser is targeted toward my deep divers. If a solid overview just doesn’t do it for you, Kaplan’s 15 comprehensive video lessons, on-demand review classes, variety of practice materials, resource library, study notes, reference booklet, and bonus/support options pack the info so exam day feels like a breeze in comparison. Kaplan reports a 92% recommendation rate for their FRM® courses, and the Kaplan Schweser brand offers over 35 years of experience in the finance exam prep course industry.
It’s important to note that Kaplan is significantly more expensive than AnalystPrep; however, if you want “all the things,” that extra investment may be worth your while. One of my favorite Kaplan features is the activity feed, which assigns you weekly study tasks in a way that makes studying more like a game than a chore. Further, Kaplan has some of the best-written materials out there.
I love the clean, organized layout, the focus on succinct explanations (that ring true the first time) and important passages bolded so I knew when to take notes. Finally, Kaplan’s bustling community forum is a great place to get your questions answered and interact with other students. Have a trickier question? Send a message through InstructorLink and get an expert breakdown.
“Learned with Schweser exclusively and passed comfortably – so dont worry mate. Although i agree that Schweser was a little weaker on Part 2, its extremely efficient in terms of time/preparation.”
u/shassui
Fast Facts
- 15 deep dive instructional videos covering the entire FRM® curriculum
- 7+ hours of on-demand review classes
- Practice exams and questions are available in the SchweserPro™ QBank
- Two full-length mock exams, two checkpoint exams, and topic quizzes
- SchweserNotes™ and Schweser’s Secret Sauce®, succinct written study tools
- Activity feed, QuickSheets, and the resource library
- Support through the Kaplan Schweser Community forums and InstructorLink messaging
Promo Codes
Save 15% on Kaplan Schweser’s intensive FRM® instruction, to help boost your chances of exam success.
Get more details in my Kaplan FRM® review.
Pros
- Additional focus on the last-minute review to renew your memory for exam day
- Notes and booklet materials are well-written and useful for learning or refreshing
- Activity feed is a fun, gamified way to complete study tasks
- Lots of video content, with 15 full-length lectures and over 7 hours of review lessons
- Direct Q&A support from expert teachers via InstructorLink
Cons
- Up to double the cost of AnalystPrep
- Being comprehensive means students spend more study time to cover all the bases
Bottom Line
Kaplan Schweser is on the spendy side and has a shorter access period. However, Kaplan stands out in their comprehensive, no-holds-barred approach to gearing up for exams, gamified study tasks, lively community forum, and direct message line to your expert instructors. If you want it all (and you want it now), Kaplan is worth considering.
Kaplan
3. Bionic Turtle: Best For Quantitative Analysis
Bionic Turtle stands out as the only course on the list to offer live online review sessions, and while these sessions are only available for FRM® Part I, they could help you get on the right track for both parts. Like Kaplan, BT is roughly twice as expensive as AnalystPrep. Unlike Kaplan, Bionic Turtle doesn’t have that massive treasure trove of materials, but the live classes may be enough to make up that lost value for you.
Bionic Turtle is particularly favored for subjects like quantitative analysis due to their learning spreadsheets, which made it much easier for me to understand the trickier formulas. If you’re not a math person, BT can certainly help. However, where I found the other two had FRM® exam questions representative of the real thing, BT’s questions felt pretty obtuse—definitely not as aligned with the learning outcomes.
However, students seem to have differing opinions, so if BT appeals to you, keep an open mind.
“Questions are not representative of what is asked in the real exam …it’s convoluted and made to look like it’s good but it’s just sloppy work.”
u/DesiQuant
“I am a Certified FRM and I could not have passed without BT. Didn’t use another provider.”
u/Rude-County-2748
Fast Facts
- Live online review sessions (Part I only)
- Instructional and focus review videos
- Interactive practice questions and mock exams
- Learning spreadsheets and formula sheets
- PDF sample question sets and PDF study notes
- Bionic Turtle forum access and support
Pros
- Useful study tools for quantitative analysis, like learning spreadsheets
- Live online classes for FRM® Part I
- The Bionic Turtle forum helps you feel connected and get questions answered
- More difficult questions may help to overprepare candidates
Cons
- The questions are long and complex, and primarily accessible through PDFs
- The practice materials don’t always align with learning outcomes
Bottom Line
Bionic Turtle’s learning spreadsheets and quantitative analysis coverage make them a great fit for students who are weak in math areas. Further, their live online classes are helpful, even if they’re only for Part I. However, the practice questions aren’t the best. If practice materials are your priority over learning materials, consider an alternative like AnalystPrep or Kaplan Schweser.
Bionic Turtle
FRM® Course Honorable Mentions
| Other Courses Reviewed |
| Edge Designations |
| Falcon Edufin |
| Finstructor |
| IFT |
| Learnsignal |
| Miles Education |
| QuintEdge |
| The Wall Street School |
FRM® Course vs. Course Comparisons
AnalystPrep vs. Kaplan Schweser
1️⃣ Choose AnalystPrep because it offers exceptional value with lifetime access, highly engaging video lessons, and a streamlined study path perfect for busy students.
2️⃣ Choose Kaplan Schweser because it provides the most comprehensive learning experience with structured study plans, premium written materials, and expert instructor support through InstructorLink.
Kaplan Schweser vs Bionic Turtle
1️⃣ Choose Kaplan Schweser because it combines a large volume of high-quality content with exam-aligned practice tools and a dynamic study planner to keep you on track.
2️⃣ Choose Bionic Turtle because it offers live online classes (Part I), strong math-focused tools like learning spreadsheets, and a tight-knit community forum.
AnalystPrep vs Bionic Turtle
1️⃣ Choose AnalystPrep because it delivers a complete video-driven experience with affordable pricing, intuitive platform design, and unlimited tutor access.
2️⃣ Choose Bionic Turtle because it’s especially effective for students who need extra help in quantitative areas and value live instruction, even if the content is more niche and challenging.
Final Verdict
Passing the FRM® exam isn’t just about putting in the hours—it’s about studying smart with the right tools for your learning style. Whether you need structure, flexibility, or support, the best course is the one that aligns with how you learn best.
- Choose AnalystPrep if you’re budget-conscious and want engaging video content, lifetime access, and the freedom to study at your own pace.
- Go with Kaplan Schweser if you prefer a deep-dive experience with detailed written materials, live support, and structured weekly guidance.
- Pick Bionic Turtle if you’re a quant-heavy learner or want live online sessions (for Part I) and tools that simplify complex math.
Each provider has strengths, but only one will be the right fit for you. Check out AnalystPrep, Kaplan Schweser, or Bionic Turtle now and see which matches your exam strategy.
FAQs
Kaplan Schweser is the most comprehensive, but AnalystPrep offers the best value. It depends on your study style and budget.
Use a structured course with video lessons, practice questions, and mock exams. Review consistently over several months.
Yes—it’s affordable, well-designed, and offers excellent video content, making it a strong option for most candidates.
Plan for 200–300 hours per part. Most candidates prep over 4–6 months per level while working full-time.
They’re different: FRM is more specialized and math-heavy; CFA is broader and longer. Many find FRM more technical but more focused.
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