Financial risk managers enjoy an average FRM® salary of over $111,000 per year, making this a highly attractive career path for finance professionals. However, with FRM® exam pass rates averaging just 54%, earning that coveted certification is no small feat.
That’s where Kaplan-Schweser can make a difference.
As one of the most respected names in financial certification prep, Kaplan-Schweser offers a variety of tools and resources designed to help you tackle the FRM® exam with confidence.
Still, just because they’re a well-known choice doesn’t necessarily mean they’re the best fit for you, your learning style, or your budget.
In this review, we’ll dive into the course features, including study materials, practice exams, and learning formats, to help you decide if Kaplan-Schweser’s FRM® prep is the right investment for your career success.
Key Takeaways
- Trusted Reputation: Kaplan-Schweser is highly respected, with a 92% student recommendation rate.
- Two Package Options: Choose between the Premium ($849/part) for video content or the Essential ($449/part) for independent study.
- Pass Guarantee: Kaplan’s PassProtection™ lets you retake courses for free if you fail the exam.
- Excellent Study Notes: SchweserNotes™ and QuickSheets provide concise, easy-to-understand summaries of key FRM® concepts.
- Smaller Question Bank: Kaplan offers 900+ practice questions, fewer than some competitors but still valuable for targeted practice.
Kaplan FRM®: Options and Information
Kaplan offers two FRM® exam prep packages, each tailored to different learning styles. While there are only a few differences between them, those differences can significantly impact which package is right for you.
It’s important to note that all packages are purchased per FRM® exam part. So, if you’re preparing for both Part I and Part II, you’ll need to buy two packages to get the full Kaplan-Schweser experience.
Premium Package
Cost: $849.00 per part
Best For: Students who value video content and additional resources
Study Materials:
- Everything in the essential package (see below)
- 15 on-demand online classes to dig into must-know topics for the FRM® exams
- Schweser’s Secret Sauce®, a succinct ebook to help your FRM® preparation
- 8+ hours of on-demand review instruction
Essential Package
Cost: $449.00 per part
Best For: Students who learn well without video content or additional instruct; independent learners
Study Materials:
- QuickSheets and SchweserNotes™ summarizing formulas, key concepts, and learning objectives
- Topic quizzes and checkpoint exams to measure your progress
- A resource library with introductory videos to start your FRM® prep journey
- SchweserPro™ QBank with 900+ practice questions to create customized quizzes
- 2 mock exams simulating the actual FRM® exam experience
Support and Additional Resources:
- InstructorLink: Get 24/7 access to ask instructors questions
- Weekly Study Plan: The activity feed offers tailored weekly tasks to optimize your study time
- Community Forum: Connect with peers and discuss exam strategies
- Schweser’s PassProtection™: If you fail the FRM® exam, get continued access to course resources at no extra cost
Kaplan FRM® Discount
Kaplan FRM®: Study Materials and Features
No matter which package you choose, Kaplan-Schweser offers a robust set of study tools. Let’s dive into these features beyond just the bullet points.
Study Materials
Before you start practicing with quizzes and exams, you need to learn the basic concepts you’ll need to know to join the community of risk professionals on the other side of your certification.
QuickSheets and SchweserNotes™
Where Kaplan-Schweser shines the brightest is its collection of written materials, particularly its QuickSheets and SchweserNotes™. Where their QuickSheets quickly summarize financial risk concepts and formulas, their SchweserNotes™ guide you through each learning objective via simple, bite-sized modules.
One student who passed exam part 1 says,
“The notes of Kaplan Schweser are very well written and intuitive in my opinion.”
Video Content
As far as video content, Kaplan offers a video resource library for both packages, though these videos seem to be more about testing strategies than learning outcomes.
However, video content gets an upgrade in the Premium Package. There, you can access 15 on-demand lectures to guide you through every aspect of the exam syllabus, from valuation and risk models to quantitative analysis.
You’ll also receive 8+ hours of on-demand review lectures, where you’ll refresh your memory on every topic you’ve learned leading up to the end of the course. You’ll also learn test-taking tips and strategies to achieve exam-day success.
All of their FRM® instructors have earned their own FRM® designation.
Questions, Quizzes, and Exams
Practice makes perfect, and this is especially true when it comes to preparing for your Financial Risk Manager certification exam.
Question Bank
Kaplan-Schweser’s SchweserPro™ QBank provides over 900 FRM® practice questions, allowing you to create custom quizzes. The built-in performance tracking helps you focus on weak areas, and thanks to the mobile app, you can study on the go.
Exams
You’ll also have access to checkpoint exams and mock exams. Checkpoint exams help track your progress at key moments, while mock exams are designed to closely simulate the actual FRM® exam experience, giving you the confidence to perform on the big day.
Support
Finally, let’s talk about the support Kaplan offers to help you pass the exam.
Schweser’s PassProtection™
In the exam prep world, there’s nothing better than a reliable guarantee. If you fail the FRM® exam, you can have renewed access to your courses on their dollar. It’s a testament not only to their credibility but their complete dedication to their mission and their students. Sure, it’s not uncommon in the test prep space, but I love a company that puts its money where its mouth is.
InstructorLink
Kaplan continues to bolster their test prep resume by adding InstructorLink, which allows you to ask your instructor(s) questions about topics you’re struggling with at any time. With the FRM® exam being so difficult, it’s the little details like 24/7 question hotlines that make a big difference for students.
Pros
- Proven Success: Kaplan-Schweser boasts a 92% recommendation rate from students.
- Instructors with FRM® Designations: All instructors are certified FRMs®, ensuring expert guidance.
- High-Quality Study Notes: SchweserNotes™ are concise, easy to follow, and well-integrated with the QBank.
- Mobile Access: The Kaplan-Schweser app makes it easy to study anywhere, anytime.
- Schweser’s PassProtection™: A solid safety net that guarantees continued access if you don’t pass on the first try.
Cons
- Limited Video Content in the Essential Package: Only available in the Premium Package, which might be a downside for visual learners.
- Small Question Bank: With only 900 questions, the QBank is relatively small compared to competitors like Bionic Turtle.
- Price: Kaplan-Schweser is one of the more expensive FRM® prep options, which could be a drawback for students on a budget.
Kaplan-Schweser vs Competitors
Any course is perfect if you have nothing to compare it to. Let’s see how Kaplan-Schweser stands when viewed alongside its competitors.
Kaplan vs Bionic Turtle
Though Kaplan is a bigger name, Bionic Turtle has some competitive advantages that Kaplan lacks. For example, Kaplan offers 900 practice questions, whereas Bionic Turtle offers 2,600+.
However, Bionic Turtle’s question bank is known for being more challenging, which can be a double-edged sword—it may better prepare you, but it could also lead to frustration. Kaplan-Schweser’s, however, tend to be too easy, which may leave candidates underprepared.
When it comes to notes, there also seems to be a discrepancy. Kaplan-Schweser’s notes tend to be significantly better than Bionic Turtle’s, which students say have typos and don’t go into topics in depth.
Summary: Kaplan-Schweser has better notes, but Bionic Turtle has a better question bank. Whichever you prefer is up to your personal preference.
Kaplan vs AnalystPrep
Once more, Kaplan-Schweser falls short when it comes to practice questions. However, AnalystPrep’s size comes at a cost, according to this student who enrolled in both FRM® prep courses:
“AnalystPrep has too many conceptual and grammatical flaws in terms of qbank, but has lots of questions to practice on as well. Schweser might be the best one around for study notes, to understand concepts, which is especially critical for P2. I studied both parts from Schweser notes and questions, with AnalystPrep questions in extra for part II only. I believe Schweser gets the work done overall.”
That being said, where AnalystPrep lacks in content, they make up for it with a much more affordable price. Check out my full review of AnalystPrep FRM® courses if you’re considering it.
Summary: Kaplan-Schweser is the better option for those who prioritize quality content, though AnalystPrep is more affordable.
Final Verdict
With a long legacy of success and a 92% recommendation rate, Kaplan-Schweser has some significant advantages when compared to its competitors, including:
- The best notes for learners who aren’t already familiar with financial risk management
- A mobile app for busy learners to use on the go
- Every instructor passed the FRM® exam themselves
However, Kaplan-Schweser is a little more costly than competitors, and they lack a plentiful, high-quality question bank.
Who It’s For: I’d recommend Kaplan-Schweser to students who aren’t already familiar with financial risk concepts, who learn best from reading and writing, and who prefer a deeper approach to details you may find in the exam.
Who Should Look Elsewhere: I would not recommend Kaplan-Schweser to students who already know the material and just need practice questions, nor students who need live instruction or personalized 1-on-1 support.
FAQs
The Premium Package offers more video content, including 15 on-demand classes and 8+ hours of review lectures, making it ideal for visual learners. The Essential Package focuses more on written materials and independent study without the extensive video resources.
Kaplan-Schweser’s FRM® prep packages cost $849 per part for the Premium Package and $449 per part for the Essential Package. Since the FRM® exam has two parts, you’ll need to purchase two packages if you’re preparing for both exams.
Yes, Kaplan-Schweser offers PassProtection™. If you fail the FRM® exam, you can get renewed access to your course materials at no extra cost, allowing you to continue studying until you pass.
Kaplan-Schweser’s question bank contains over 900 practice questions, which is smaller compared to competitors like Bionic Turtle, which offers over 2,600 questions. However, Kaplan-Schweser compensates for this with excellent study notes and a structured approach.
Kaplan-Schweser’s FRM® prep courses cover key topics essential for assessing financial risk across various domains. Their study materials, including SchweserNotes™ and video lectures, provide in-depth explanations of operational risk, credit risk, and market risk. The Premium Package includes on-demand classes that dive into advanced topics such as market risk measurement and treasury risk measurement, helping you build the necessary skills to excel in the FRM® exam and in your risk management career.
