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BusinessFinance and Investment

Examination Preparatory Course for Financial Risk Management (FRM) Part II

New Course
Course Code
Application Code
1545-5234NW (Sep intake)
Study mode
Start Date
To be advised
Next intake(s)
To be advised
3 months to 4 months
Course Fee
How to Apply
Deadline on 01 Sep 2017 (Fri)

The Financial Risk Manager (FRM) is a globally recognized benchmark certification program for financial risk professionals and is considered to be the global qualification in the practice of financial risk management. FRM holders perform a broad variety of functions related to risk management within investment banks, asset management firms, corporations and government agencies. Top employers of FRM holders include Deutsche Bank, HSBC, UBS and KPMG. The course targets at students who are working in or interested in the financial risk management profession and attempt to take the FRM Part 2 exam.

This programme provides in-depth coverage of the topics examined in the Financial Risk Manager Part  II examination and offers extensive examination preparations. Mock exams are included in this course.

The course covers the 4 required topics of FRM Part II exam and consists of 36 lecture hours.


No. of lecture hours

1. Market Risk Measurement and Management     

  • Metrics of market risk
  • Term structure models
  • Mapping financial instruments to risk factors
  • Backtesting VaR, analyzing VaR and VaR mapping


2. Credit Risk Measurement and Management   

  • Subprime mortgages and subprime securitization
  • Counterparty risk, settlement risk and OTC derivatives
  • Measuring and marking counter-party default risk
  • Credit derivatives, credit default swaps (CDS) and credit-linked notes (CLN) 


3. Operational and Integrated Risk Management   

  • Allocation of risk capital across the firm
  • Firm-wide risk measurement and management
  • Correlations across market, credit, and operational risk
  • Evaluating the performance of risk management systems


4. Current Issues in Financial Markets

  • Structured Products – fixed-income structures, equity derivative structures, hybrids and the study of 2007 crisis
  •  CDS, CDO and other structured derivatives
  •  Real estate investment strategy and Subprime bubble
  • Commodity futures markets and price volatility and case study on Sumitomo failure




Mr L.H. Lee, MSc, FRM, CFA, FCCA

Mr. Lee is a Director of a top tier US investment bank in Hong Kong. He has over ten years of experience in the financial services industry with a solid academic track record as Top Achiever in certification exams. He has practical experiences in financial risk management and quantitative analysis. With his teaching experience in university and work experiences, he will guide students to master techniques in FRM and apply the knowledge for your career development.

Application Code 1545-5234NW (Sep intake) -
Start Date 19 Sep 2017
Time 19:00 - 22:00
Venue Admiralty Learning Centre / United Learning Centre

  • 36 hours per module
  • 12 meeting(s)
  • 3 hours per meeting


Examination Preparatory Course for Financial Risk Management (FRM) Part II





19 Sep 2017 (Tue)     

7:00 pm - 10:00 pm


26 Sep 2017 (Tue)


03 Oct 2017 (Tue)     


10 Oct 2017 (Tue)


17 Oct 2017 (Tue)


24 Oct 2017 (Tue)    


31 Oct 2017 (Tue)


07 Nov 2017 (Tue)    


14 Nov 2017 (Tue)     


21 Nov 2017 (Tue)    


28 Nov 2017 (Tue)


05 Dec 2017 (Tue)

** The above tentative timetable may be subject to change without prior notice until confirmation of timetable issued to student.


There is no specific entry requirement. However, students must check with GARP ( to see if they are eligible to take the examinations.

Course Fee
  • Course Fee : HK$5400

Application Form Download Application Form

Enrolment Method

We provide online application and payment service for students to make enrolment via the Internet. Enrolment will be confirmed once students have made the payment online by using either PPS or credit card.

For first-come, first-served courses:
  1. Complete the online application form
    Click the "Apply Now" button on the top right hand corner of the course webpage to make online application. Follow the instructions to fill-in the online application form.
  2. Make Online Payment
    Pay the course fees by either using

    PPS via Internet - You will need a PPS account and a PPS Internet password. For information on how to open a PPS account and how to set up a PPS Internet password, please visit

    Credit Card Online Payment - Course fees can be paid by VISA or MasterCard via a secure online payment gateway for all first-come, first-served courses.

For award-bearing programmes:

Selected award-bearing programmes also provide online enrolment and payment service for its students.

If your programme accepts online enrolment and payment, a re-enrolment icon will be shown on the course webpage. Click the icon and follow the instructions to perform online enrolment and payment. You will receive relevant information from the programme team nearer the time of enrolment.

You may click here directly to access the online enrolment and payment service.

Please note the followings:

  1. Admission is on a first-come, first-served basis. Enrolment will be confirmed once you have made the payment online. You will receive a payment confirmation after payment has been made successfully. You are advised to keep your payment confirmation for future enquiries.
  2. Fees paid are not refundable except as statutorily provided or under very exceptional circumstances.
  3. To make an application online, you will need a computer with connection to the Internet and a web browser with JavaScript enabled. Internet Explorer 5.01 or above is recommended as the web browser.


The School provides a platform for online services for a selected range of products it offers. While every effort is made to ensure timeliness and accuracy of information contained in this website, such information and materials are provided "as is" without express or implied warranty of any kind. In particular, no warranty or assurance regarding non-infringement, security, accuracy, fitness for a purpose or freedom from computer viruses is given in connection with such information and materials.

The School (and its respective employees and subsidiaries) is not liable for any loss or damage in connection with any online payments made by you by reason of (i) any failure, delay, interruption, suspension or restriction of the transmission of any information or message from any payment gateways of the relevant banks and/or third party merchants for processing credit/debit/smart card or other payment facilitation mechanism; (ii) any negligence, mistake, error in or omission from any information or message transmitted from the said payment gateways; (iii) any breakdown, malfunction or failure of those gateways in effecting online payment service or (iv) anything arisen out of or in connection with the said payment gateways, including but not limited to unauthorised access to or alternation of the transmission of data or any unlawful act not permitted by the law.

Payment Method
1. Cash or EPS

Course fees can be paid by cash or EPS at any HKU SPACE enrolment counters.

2. Cheque or bank draft

Course fees can also be paid by crossed cheque or bank draft made payable to “HKU SPACE”. Please specify theprogramme title(s) for application and applicant’s name. You may either:

  • bring the completed form(s), together with the appropriate course or application fees in the form of a cheque, and any required supporting documents to any of the HKU SPACE enrolment centres;
  • or mail the above documents to any of the HKU SPACE enrolment centres, specifying “Course Application” on the envelope. HKU SPACE will not be responsible for any loss of payment sent by mail.
3. VISA/MasterCard

Applicants may also pay the course fee by VISA or MasterCard, including the “HKU SPACE MasterCard”, at anyHKU SPACE enrolment centres. Holders of the HKU SPACE MasterCard can enjoy a 10-month interest-freeinstalment period for courses with a tuition fee worth a minimum of HK$2,000; however, the course applicant must also be the cardholder himself/herself. For enquiries, please contact our staff at any enrolment centres.

4. Online payment

The course fees of all open admission courses (course enrolled on first come, first served basis) and selected award-bearing programmes can be settled by using PPS via the Internet. Applicants may also pay the relevant course fees by VISA or MasterCard online. Please refer to the Online Services page on the School website.


  1. For general and short courses, applicants may be required to pay the course fee in cash or by EPS, Visa or MasterCard if the course is to start shortly.

  2. Fees paid are not refundable except under very exceptional circumstances (e.g. course cancellation due to insufficient enrolment), subject to the School’s discretion. In exceptional cases where a refund is approved, fees paid by cash, EPS, cheque or PPS (for online payment only) will normally be reimbursed by a cheque, and fees paid by credit card will normally be reimbursed to the payment cardholder’s credit card account.

  3. In addition to the published fees, there may be additional costs associated with individual programmes. Please refer to the relevant course brochures or direct any enquiries to the relevant programme team for details.
  4. Fees and places on courses cannot be transferred from one applicant to another. Once accepted onto a course, the student may not change to another course without approval from HKU SPACE. A processing fee of HK$120 will be levied on approved transfers.
  5. Receipts will be issued for fees paid but HKU SPACE will not be responsible for any loss of receipt sent by mail.
  6. For additional copies of receipts, please send a stamped, self-addressed envelope with a completed form and a crossed cheque for HK$30 per copy made payable to ‘HKU SPACE’. Such copies will only normally be issued at the end of a course.
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