FRM Eligibility Criteria- November 2016
FRM Eligibility Criteria- November 2016:- The Financial Risk Manager (FRM®) is a globally recognized course for those who want to become a risk manager, since 1997. Certified FRMs manage risk and investments. You may work as Chief Risk Officer, Senior Risk Analyst, Head Operational Risk, and Director of Investment Risk Management. These Risk managers work with Banks, Hedge Funds, Private Equity, Rating agencies and more. Currently students from 136 countries are appearing in FRM exam.
In order to get the FRM designation, first the candidates must pass the rigorous examination offered in two parts. The examination covers the major topics in financial risk management. Once they have cleared the examination, they need to have a relevant work experience of 2 years at the least.
As such, there are no minimum eligibility requirements to write the exam. You can write the FRM Part-1 exam even if you are in the final year of your graduation and you can take the FRM Part-2 only when you complete the FRM Part-1 exam. But once you have taken and passed the exams. You need to have work experience to get the certification.
The certification requirements ensure that the Quality of a FRM stays as the gold standard, by awarding the certification only to qualified individuals with relevant work experience.
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FRM Eligibility Criteria- FRM Exam Eligibility
- Have a bachelor’s (or equivalent) Degree.
- It has 2 levels. FRM 1 and FRM 2.
- Average duration to pass both level is 1 year
- Exams are held in May and Nov
- Both the exams can be give at one go
- FRM 1 and FRM 2 both has 4 different subjects to study
- To earn a FRM Certification you must pass both exam and have 2 years of work-ex in Risk Management.
FRM Eligibility Criteria- FRM Certification Eligibility
There are no minimum eligibility requirements for appearing in the FRM exam. However, in order to be certified as a Financial Risk Manager, the following are required:
- A passing score on the FRM Examination
- Active Fellow membership in the Global Association of Risk Professionals (GARP)
- A minimum of two years’ experience in the area of financial risk management or another related field including, but not limited to, trading, portfolio management, academic or industry research, economics, auditing, risk consulting, and/or risk technology
If one passes the FRM exam (Full exam or both Part-1 and Part-2) but does not have the 2 years of relevant work experience, GARP issues a letter stating that the candidate has passed the FRM exam. The candidate will be considered as “FRM Holder” but not “Certified FRM Holder”. The candidate can use the FRM designation only after submitting the proof of the 2 years of work experience to GARP, and after receiving the GARP confirmation that the candidate has been formally included on its registry of certified FRM holders.
However, one can list the following statement on your CV/Resume: “FRM Program: Passed Parts I & II”. This certainly adds value to the resume.
FRM Eligibility Criteria:- FRM Exam Eligibility VS FRM Certification Eligibility
The question then, that comes to the mind is, what does the difference mean? If you are eligible to take the exam as an undergraduate, whence did the experience come into picture?
If you have finished the FRM exams as an undergraduate, once you graduate you can use passing the exams as a strong sign of your commitment towards the field and of the extensive knowledge you have gained. Since FRM is a self study, this means a lot more in the industry.This is why GARP gives a FRM candidate a 5 year window since passing the FRM exam to get experience verified for the designation.
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