GAFM-ChFRM Exam Information and Outline
Chartered Financial Risk Manager (ChFRM)
Syllabus Update Checked on: November 6, 2026
GAFM-ChFRM Exam Syllabus & Study Guide
Before you start practicing with our exam simulator, it is essential to understand the
official GAFM-ChFRM exam objectives. This course outline serves as your roadmap.
The information below reflects the 2026 syllabus defined by
GAFM.
Below are complete topics detail with latest syllabus and course outline, that will help you good knowledge about exam objectives and topics that you have to prepare. These contents are covered in questions and answers pool of exam.
- Exam Format
- Online multiple-choice certification examination following the GAFM Accredited Certification Training Program (ACTP)
- Risk Governance and Frameworks
- Risk appetite and three lines of defence
- Market Risk Measurement
- VaR, expected shortfall, stress testing
- Credit Risk Modelling
- PD, LGD, EAD and credit portfolio models
- Liquidity Risk
- LCR, NSFR and funding gaps
- Operational and Model Risk
- RCSA, KRIs and model validation
- Asset-Liability Management
- Interest rate risk in the banking book
- Regulatory Capital and Stress Testing
- Basel III and ICAAP