The frm exam is divided into Level 1 and Level 2 exams, in which the subjects of the frm Level 1 exam include risk management foundation, quantitative analysis, valuation and risk model, financial market and products. Frm Level 2 examination subjects include six subjects: market risk measurement and management, credit risk measurement and management, operational risk and elasticity, liquidity and capital risk measurement and management, risk management and investment management, and current hot issues in financial markets.

Actuarial examinations in North America are mainly aimed at quasi-actuaries (ASA). The examination subjects include probability theory (P-Probability), financial mathematics (FM-FinancialMathematics) and Fam- actuarial mathematics. Altam- advanced long-term actuarial mathematics or astam- advanced short-term actuarial mathematics (either), SRM-StatisticsforRiskModeling and PA-PredictiveAnalytics.