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Eligibility and Requirements of FRM® Certification

March 4, 2017
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The FRM® (Financial Risk Manager) designation is an international professional certification offered by GARP (Global Association of Risk Professionals). It is one of the most difficult but exclusive certification in the area of Finance and Risk Management

There are lucrative career options for FRM® holders have positions such as Chief Risk Officer, Senior Risk Analyst, Head of Operational Risk, and Director, Investment Risk Management.

FRM Exam Eligibility:

As such, there are no minimum eligibility requirements to write the exam.

  • Even an undergraduate (Final Year of Graduation) is eligible to give the FRM Part 1 exam.
  • You can take the FRM Part 2 only when you complete the FRM Part-1 exam.

FRM Requirements:

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. In order to get the FRM designation.

  • Candidates must pass the rigorous examination offered in two parts. Once they have cleared the examination, they need to have a relevant work experience of 2 years at the least.
  • A minimum of two years professional full-time work experience in the area of financial risk management or another related field including, trading, portfolio management, Academia (tenure track faculty), industry research, economics, auditing, risk consulting, and/or risk technology etc.
  • Once you have passed the FRM Exam, you need to provide the proof of your professional experience to GARP, in order to receive your certificate. You have 5 years to do this, if you don’t do it within this period, you’re FRM Exam pass status no longer holds and you will have to take the FRM Exams again.
  • GARP, after processing your work experience, will mail the certificate to you. In case you don’t receive the certificate, you have to pay a $100 fee for re-issual.
  • Candidates should have active fellow membership in GARP.

FRM Exam Deferral:

After you are successful FRM exam registration, you must have chosen a date and an exam center for writing your exam. If for some reason you don’t/can’t write the FRM exam on the designated date and wish to write your exam in the next period, GARP’s FRM Exam deferral policy gives you a provision to do so.

FRM Exam deferral policy:

An FRM candidate may only defer their exam registration once to the next examination date.

  • The first step would to apply for exam deferral. The last date for the exam deferral is the last day for the registration of exam according to the GARP calendar. Which is, 15th of April for the May exam and 15th of October for November exam.
  • A processing fee of USD 150 must be paid at the time of the FRM Exam deferral application
  • After successful deferral application, if you change your mind again and want to take the exam on time, you can do so by paying another USD 150 as a processing fee.
  • As a deferred FRM Candidate, you will automatically be re-enrolled in the next cycle. If you decide not to attend the next exam, you will forfeit all exam fees and have to re-register as a new candidate

Note: Any study materials you purchased for this year's exam may not all be applicable for next year's exam since the Study Guide and suggested readings will change from year to year.

FRM Exam Deferral Deadlines:

  • May Administration – April 15, 2017
  • November Administration – October 15, 2017

You can use the FRM exam deferral policy for deferring your exam, but then make the decision wisely, if you are worried that your preparation is not up to the mark. Join a FRM prep review course

If you have already made the decision of going for FRM and are looking for a training institute, then EduPristine is a great option as we are GARP authorized training providers. We provide both Online and Classroom trainings.

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Trusted by Fortune 500 Companies and 10,000 Students from 40+ countries across the globe, it is one of the leading International Training providers for Finance Certifications like FRM®, CFA®, PRM®, Business Analytics, HR Analytics, Financial Modeling, and Operational Risk Modeling. EduPristine has conducted more than 500,000 man-hours of quality training in finance.

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Global Association of Risk Professionals, Inc. (GARP®) does not endorse, promote, review or warrant the accuracy of the products or services offered by EduPristine for FRM® related information, nor does it endorse any pass rates claimed by the provider. Further, GARP® is not responsible for any fees or costs paid by the user to EduPristine nor is GARP® responsible for any fees or costs of any person or entity providing any services to EduPristine Study Program. FRM®, GARP® and Global Association of Risk Professionals®, are trademarks owned by the Global Association of Risk Professionals, Inc

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