FRM 2026 Part I Quantitative Analysis Probability Free Quiz 1

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FRM 2026 Part I Quantitative Analysis Probability Free Quiz 1

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FRM 2026 Part I Quantitative Analysis Probability Free Quiz 1

Practice FRM 2026 Part I Quantitative Analysis MCQs from Probability. Get instant results with Explanation.

General10 MCQs

1. What is probability?

A. Probability can be negativeB. Probability is a number between 0 and 1 indicating the likelihood of an eventC. Probability is always expressed as a percentageD. Probability is the same as odds

2. What is the probability of the complement of event A?

A. P(A') = P(A)B. P(A') = 1 + P(A)C. P(A') = 1 - P(A)D. P(A') = -P(A)

3. What is the formula for the probability of mutually exclusive events?

A. For mutually exclusive events, P(A ∪ B) = P(A) + P(B)B. For mutually exclusive events, P(A ∪ B) = P(A) × P(B)C. For mutually exclusive events, P(A ∪ B) = P(A) - P(B)D. For mutually exclusive events, P(A ∪ B) = P(A) + P(B) - P(A∩B)

4. What is the multiplication rule for independent events?

A. P(A ∩ B) = P(A) + P(B)B. P(A ∩ B) = P(A) - P(B)C. P(A ∩ B) = P(A) / P(B)D. P(A ∩ B) = P(A) × P(B)

5. What is the formula for conditional probability?

A. P(A|B) = P(A ∩ B) × P(B)B. P(A|B) = P(A ∩ B) / P(B)C. P(A|B) = P(B) / P(A ∩ B)D. P(A|B) = P(A ∩ B) + P(B)

General10 MCQs

6. What is Bayes' theorem?

A. P(A|B) = P(B|A) × P(A) × P(B)B. P(A|B) = P(B|A) + P(A) / P(B)C. P(A|B) = P(B|A) × P(A) / P(B)D. P(A|B) = P(B|A) / P(A) × P(B)

7. What is the law of total probability?

A. P(A) = Σ P(A|Bi) × P(Bi)B. P(A) = Σ P(A|Bi) / P(Bi)C. P(A) = Σ P(Bi|A) × P(A)D. P(A) = Σ P(A|Bi) + P(Bi)

8. What is the formula for the expected value of a discrete random variable?

A. E(X) = Σ x / P(X=x)B. E(X) = Σ P(X=x) × xC. E(X) = Σ x × P(X=x)D. E(X) = Σ x × P(X=x)

9. What is the variance of a random variable?

A. Variance = E[(X + μ)^2]B. Variance = E[(X - μ)^2]C. Variance = E[X^2] - μD. Variance = E[X] - μ^2

10. What is covariance?

A. Cov(X,Y) = E[(X - μX) + (Y - μY)]B. Cov(X,Y) = E[(X - μX) × (Y - μY)]C. Cov(X,Y) = E[(X - μX)(Y - μY)]D. Cov(X,Y) = E[(X + μX)(Y + μY)]

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FRM

Conducting Body: Global Association of Risk Professionals GARP

Frequency: three times a year: May, August, and November | Time: 240 Minutes

Negative Marking: No

⚡ Test Pattern (Total: 100 MCQs):

Foundations of Risk Management: 25 MCQs
Quantitative Analysis: 25 MCQs
Financial Markets and Products: 25 MCQs
Valuation and Risk Models: 25 MCQs

Merit Formula: -

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