对于FRM第1部分,没有添加或删除任何章节。 事实上,有些章节已被重写,但在大多数情况下,所有学习目标都保持不变。 唯一的例外是“Book 3 – Financial Markets and Products”中增加的以下四个学习目标:

Book 3  – Financial markets and products
1. BanksEvaluate the capital requirements for banks.
19. Foreign exchange riskCalculate and explain the effect of an appreciation/depreciation of a currency relative to a foreign currency.
Identify and describe the different types of foreign exchange trading activities.
Explain the purchasing power parity theorem and use this theorem to calculate the appreciation or depreciation of a foreign currency.


对于FRM第2部分,“Book 3 – Operational and Integrated Risk Management”发生了一些重大变化,增加了三个新章节并删除了一章


Chapter 23: Basel II.5, Basel III, and Other Post-Crisis Changes

Chapter 23: Regulation of the OTC Derivatives Market

Chapter 25: High-Level Summary of Basel III Reforms

Chapter 26: Basel III: Finalising Post-Crisis Reforms


Chapter 8 Standardised Measurement Approach for Operational Risk



Emanuel Kopp, Lincoln Kaffenberger and Christopher Wilson, “Cyber Risk, Market Failures, and Financial
Stability,” (August 2017). IMF Working Paper No. 17/185.*

  • “Artificial intelligence and machine learning in financial services,” Financial Stability Board, Nov. 1, 2017.
  • Peter Gomber, Robert J. Kauffman, Chris Parker and Bruce Weber, “On the Fintech Revolution: Interpreting the Forces of Innovation, Disruption and Transformation in Financial Services,” Journal of Management Information Systems (2018): 35(1), 220-265.
  • “What is SOFR?” CME Group, March 2018.


Benjamin H. Cohen and Gerald A. Edwards, Jr., “The new era of expected credit loss provisioning,” BIS Quarterly Review, March 20, 2017.2.

  • Hyun Song Shin, “The bank/capital markets nexus goes global,” BIS  Quarterly Review, November 2016.
  • “FinTech credit: Market structure, business models and financial stability implications.” BIS—Committee on Global Financial Systems, May 2017.
  • Andrew W. Lo, “The Gordon Gekko Effect: The Role of Culture in the Financial Industry,” Federal Reserve
    Bank of New York Economic Policy Review, 22(1) (August 2016).*

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