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GARP FRM® Registration Details
Use the following official links to get the latest on examination dates and notices:
You must seriously consider this educational option today as the FRM certification is the golden standard for risk management professionals across the world.
If you are keen on having a career in risk and finance, look no further. Below is all the information on registration and reasons why you need to register.
The importance of this selection
Of all the professional certifications in the field of finance, this course has the biggest potential to propel you to a higher career level in risk management.
This certification is the sole accepted global standard for risk professionals. There are many advantages you get with this certification, including countless job opportunities, higher salaries and respect in the industry.
It all starts when you register
The world of finance is pressing the need for highly qualified risk experts. The future of global economies depends on risk specialists that are skilled and seasoned enough to analyze and handle risks.
GARP has earned a strong reputation for the course, churning out professionals that are a cut above the rest.
When it comes to quantitative aptitudes, technical skills, technological skills, problem-solving skills and risk management standards, a certified FRM is the only choice.
Think of the long term benefits
A career in financial risk management requires individuals that are comfortable with solving complex risk cases, working under pressure and monitoring high-priority company transactions.
Individuals without certification might lack the skills to handle these job duties effectively.
The practical nature of the course ensures that it equips you with the right skills in risk modelling, financial applications and knowledge of financial markets.
These skills will unquestionably make you stand out in the workplace.
Your employers and colleagues will appreciate your value in the organization. You will be the go-to person for problem solving and solutions that increase revenues and reduce risks.
Along the road, you will be a favorite proposition for managerial and leadership positions.
Know the upcoming exam dates and various considerations
After registration, it falls on the candidates to plan their calendar so that they are available to sit for the exams. In the event of unavoidable circumstances, GARP allows you to defer the exams only once.
You can sit for level 1 and level 2 exams on the same day. However because each test level take 4 hours each, you’ll need to plan for a full day of exams. Level 1 exam is held in the morning and level 2 in the afternoon.
Be sure to arrive on time for your examinations, as once the GARP representatives have closed the doors, no candidate will be allowed inside. The Level 1 exam typically begins at 8.00 am and Level 2 typically starts at 2 pm.
Know your times and deadlines
There are various exam registration dates and deadlines. The registration process involves selecting the exam option, i.e., whether you want to sit for Level 1, Level 2 or both.
During registration, you also get to choose your exam site. Upon creating your GARP account, you get access to books on sale, both soft copy and hard print.
Know your course fees
When registering, new candidates have to part with $400 in the course registration phase, plus each exam registration fees. There are different fee structures for early, standard, and late registrants.
Bear in mind that the longer you wait to register the more fees you will be liable to pay. Both the enrollment fees and the exam fees are not refundable.
However, if you have to retake either part 1 or part 2, you will be exempted from the enrollment fees. Please note that you cannot transfer your registration status to another candidate.
Ways to pay
You can pay for the financial risk manager examinations through options such as credit cards, checks and wire transfers. GARP accepts credit cards like Master Cards, Visa, and Amex online.
If you choose to pay via check, it must be authorized by either a US bank or a foreign bank with a US intermediary.
GARP provides wire transaction instructions on your invoice. The transaction fees for all these payment methods are US$50.
If after a successful registration, you will not be able to show up for the exam on the set date, you can apply for a deferral allowing you to sit for the exam in the next period. GARP allows for one-time deferrals…use it wisely.
It is further noted that deferral costs $ 150 and you will be required to sit for the exam in the next cycle. If you don’t show up then, you will forfeit all the exam registration fees and be required to register afresh.
Requesting a new test site
After registration and selecting a particular exam site, you can change the location. Log into your GARP account and navigate to “My Programs” to change exam location.
You can also request for a new exam site by emailing GARP. The deadline for changing your exam will be on GARP’s website.
If for some unavoidable reasons the exam site is changed, GARP will communicate this information along with the new dates and/or exam sites as soon as they can.
Getting the admission ticket
Candidates are required to download these tickets (emailed by GARP) and print them. There is no admission via electronic tickets on smartphones on the exam day.
GARP examination patterns
- Each year, you can expect that both level 1 and level 2 examinations happen on the same day.
- GARP exams comprise of only multiple choice questions.
- There is no marking-down for wrong answers or penalties to candidates.
- Candidates are encouraged to attempt all questions.
- The level 1 and level 2 exams cover all the topics in the course work.
- The questions test your understanding of the topics and your skill to apply theoretical knowledge to practical challenges that a financial risk manager may experience.
Using the official GARP materials
Candidates are always encouraged to get their study materials from GARP. If desired, you can then enroll with a third-party course provider or prepare by yourself.
Third party course providers often have additional study materials including practice questions and books. However, it’s highly recommended to use these additional materials with the official GARP study notes.
The types of study materials offered by GARP include books for part 1 and part 2. The books are available in hard print and digital format. You also get an array of practice questions and a study guide.
Some of these materials are offered free of charge, while others are accessed by payment only.
Using additional study materials
Third-party materials can help you pass the exam. GARP encourages students to go through an array of study materials from other academics and practitioners as well.
The tutorials and online readings are a vital part of the curriculum. The additional materials will furnish you with extra knowledge and help you make sense of the various theories and concepts.
Many candidates often seek the assistance of external providers in going through the course. Going through sample exam questions, for instance, sharpens and readies you for the real test.
Whereas GARP will provide limited practice questions, you actually can expose yourself to an array of test questions through several online providers.
Reminders on specific requirements
To attain FRM certification, you must pass the two exams and get a minimum of two years of work experience in the field of finance and risk.
You have to submit the proof of work experience not more than five years after you pass level 1 and level 2 exams. It should also be not more than ten years before when you first sat for the exams.
The work experience could be in industry research, portfolio management or risk consulting.
Why you should never wait too long
As mentioned above, early registration saves you money. However that is not all- with early registration, you get access to course materials and study plans and start early preparations for the exam.
You will have a higher chance of success at the exams than a person who registers one month before the exam date and is rushing to get through all the materials on time.
A word on the low passes
The pass rate is historically low, between 40% and 50%. The pass rate is actually an indicator of the complex nature of the examinations, but that should not scare you.
There have been many successful persons who had to juggle work, family and friends. With proper planning and practice, it is easy to pass the exams.
The low rates also serve as a reminder of the many hours of study that need to be dedicated to the course. An enthusiastic candidate that is keen on learning to advance their career will face no problem passing the exams with flying colors.
Why consider our Question Bank?
We provide an effective way for candidates to study. Our test books go beyond the exams and will help you become a better risk practitioner.
We have already assisted hundreds of questions so that you will perform better in your tests. Why not see some of our sample questions?
We know the sacrifice it takes to study for this course. For that reason, we’ve made everything simple and straightforward. Our bank entails explanations of many various concepts.
Theoretical knowledge is merged with practical applications to help you internalize the concepts faster.
How to get the certificate
So, you will first go through the registration process and pass both levels. After this, you will receive an email notification within 6 weeks acknowledging your accomplishments.
The next step is submitting your work experience (which has to be two years in the field of finance) in your online Account Portal.
GARP expects you to write a brief paragraph describing how you were involved in risk management each day.
That is your job description and summary report. You are also expected to submit your latest resume with references as proof of your work experience. Upon approval, your certificate will be mailed to you by postal service.
The bottom line
There is a high demand for FRM professionals. Banks, insurance companies and government agencies all need financial risk managers that are skilled to handle financial risks.
In an increasingly volatile and complex environment, such persons are crucial. There is no one better equipped for that than a certified financial risk manager.
Why not kick start your career today and consider FRM registration?
The QuestionBank Family