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About the FRM Program
The FRM Program Certification is the true standard for educational excellence in risk management and a gateway to achieving new career heights in the risk profession. Be a part of an elite network that spans over 80,000 individuals employed at the world’s top banks, asset management firms, consulting firms, and regulators.
FRMs possess specialized knowledge in assessing risk and typically work for major banks, insurance companies, accounting firms, regulatory agencies, and asset management firms.
As the field’s leading designation, the FRM Certification is the key indication of candidates with proven ability and experience. To earn it, you must not only pass two challenging and rigorous exams, but also spend at least two years working in the field. By earning your FRM Certification, you will prove your skill at identifying, analyzing, and mitigating risk at a high level, and showcase your ability to add value to firms in a number of specialized areas.
Why FRM Program?
FRM® certification makes you stand out.
When you have the FRM title, it makes you special in the financial world. As more people need experts in managing financial risks, having the FRM title shows you’re really good at it. Big financial companies like hiring people with the FRM title.
These companies like hiring people with the FRM title because they have certain skills that are important to financial companies. Managing risks is a different way of making financial decisions. The FRM Program teaches you how to find and deal with possible risks, make better decisions about all kinds of risks, and create a plan to manage risks.
The program also helps you learn how to prioritize risks, manage them effectively and without spending too much money, and give advice on important things for success. Learning this new way of thinking and managing risks will make you very valuable to financial companies.
The FRM® title can boost your career.
Having the FRM title can help you move up in your career. Since the FRM Program started in 1997, it has become more and more popular, and more people are joining every year. People with the FRM title usually get higher positions in finance that focus on risk and investment.
These jobs in financial management, like being a credit risk manager or market risk manager, are expected to grow by 7% in the next ten years. Plus, the salaries for these jobs are pretty good. According to PayScale and other websites, you can earn from $55,000 to $150,000 every year.
So, if you want a good-paying job as a credit risk manager, market risk manager, or something similar, having the FRM title can help. It’s the top title in the field and makes it easy for companies to know that you’re really good and experienced. But remember, getting the title is not easy.
You have to pass tough exams and work in the field for at least two years. Having the FRM title tells employers that you can find, understand, and handle risks at a high level, and that makes you very valuable in many areas.
Grow your global connections.
More and more people around the world are recognizing the FRM Program. In the last eight years, it has grown a lot, with more and more people joining. If you become one of over 32,000 people with the FRM title from all over the world, you can connect with many experts.
These connections can help you understand the global financial markets better. You can learn about the industry and what’s happening, get better at your job, and know about new things that could affect your career.
FRM Program equal Master of Finance in
United Kingdom – United States – Canada – Hong Kong – India – Singapore – Australia – Brazil – China – Japan – South Africa – UAE – Mexico – Taiwan
All What You Need to Know About CFA Exam
FRM Level 1 Exam Structure
Part 1 exam is a four-hour, multiple-choice exam. It consists of 100 multiple-choice questions, with each question having four answer choices. Part 1 covers the fundamental concepts of risk management, including topics like quantitative analysis, financial markets and products, and valuation and risk models.
FRM Level 2 Exam Structure
Part 1 exam is a four-hour, multiple-choice exam. it includes 80 multiple-choice questions, with four answer choices for each question. Part 2 focuses on advanced risk management concepts, including topics such as market risk measurement and management, credit risk, operational risk, risk management and investment management, and current issues in financial markets
| Exam Cost Part 1 | May | August | November |
|---|---|---|---|
|
Membership fee
|
400$
|
400$
|
400$
|
|
Early registration fee
|
950$
|
600$
|
1000$
|
|
Late registration fee
|
1150$
|
N/A |
1200$
|
| Exam Cost Part 2 | May | August | November |
|---|---|---|---|
|
Membership fee
|
- |
- |
- |
|
Early registration fee
|
550$
|
600$
|
600$
|
|
Late registration fee
|
750$
|
N/A |
800$
|
| Registration Deadlines | May 2024 | August 2024 | November 2024 |
|---|---|---|---|
|
Standard Registration Closes
|
Feb. 1 - March 31, 2024
|
To be determined
|
To be determined
|
|
Window to Select an Exam
|
Dec. 1, 2023 - April 26, 2024
|
To be determined
|
To be determined
|
|
Exam dates level 1
|
May 11-17, 2024
|
To be determined
|
To be determined
|
|
Exam dates level 2
|
May 18-22, 2024
|
To be determined
|
To be determined
|
| FRM Exam Topics | Part 2 |
|---|---|
|
Market Risk |
20% |
|
Credit Risk |
20% |
|
Operational Risk and Resiliency |
20% |
|
Liquidity and Treasury Risk Management |
15% |
|
Risk Management for Investment Management |
15% |
|
Current Issues |
10% |
| FRM Exam Topics | Part 1 |
|---|---|
|
Foundations of Risk Management (FRM) |
20% |
|
Quantitative Analysis (QA) |
20% |
|
Financial Markets & Products (FMP) |
30% |
|
Valuation & Risk Models (VRM) |
30% |
That largely depends on your career path. Generally speaking, FRMs are meant for managerial roles that focus specifically on risk (i.e., credit risk manager, regulatory risk manager, operational risk manager, etc.). On the other hand, CFA Charterholders are primarily investment management professionals (i.e., investment analyst, portfolio manager, financial adviser, etc.).
FRM exams are tough, but not as difficult as the CFA exams.
The pass rates for FRM Part 1 usually fall in the range of 40% and 50%. For Part 2, they range between 50% and 60%.
For the CFA exams, historical pass rates for Level 1 and Level 2 are generally in the range of 40% and 50%. Level 3 pass rates are usually in the ballpark of 50%. It’s this combination of lower pass rates and one more exam that makes the CFA tougher than the FRM.
The FRM charges a one-time enrollment fee of $400 to first-time FRM candidates.
From there, standard registration is $750 for Part1 and another $750 for Part 2. If you register early, however, candidates are able to get a discounted rate of $550 for Part 1 and $550 for Part 2.
