In order to earn the CFA designation, you need to pass the CFA Level I, CFA Level II, and the CFA Level III exams.
In order to earn the FRM designation, you need to pass FRM Part I, and the FRM Part II, exams.
What is called a “Level” in CFA is called a “Part” in FRM. (This is a vestige of the old days, when the entire FRM program was based on a single exam.)
Wikipedia explains the FRM structure reasonably well:
“The FRM exams now consist of two exams, FRM Part I and FRM Part II. Each exam consists of a single four-hour session. Candidates may choose to sit for both parts on the same day, however if a candidate fails Part I their Part II exam will not be graded. The Part I exam is administered on FRM exam days in a single four-hour session from 8:00am to 12:00pm. The Part II exam is administered on FRM exam days in a single four-hour session from 2:00pm to 6:00pm.”