Estimated reading time: 2 minutes
Introduction
We continue our series about some of the aspects you should know about the FRM course by GARP.
If you would like to read Part 1, please click here.
About the official body
Formed in 1996, GARP is an acronym for Global Association of Risk Professionals. This body’s primary focus is about furthering the understanding and management of risk in the financial world.
If you are interested in becoming a risk professional (or just trying to get a better understanding of what this about), then this is the certification for you.
How large the membership is
GARP has members in over 200 countries and is a globally recognized and respected organization.
There are approximately 40,000 certified individuals and this is quite a small number of risk professionals to cover the entire financial industry.
As a result of this, it is a great time to jump on this opportunity and join their professional ranks.
Its importance
Understanding risk in the financial industry is of extreme importance.
Ever since the global crisis in 2008, the demand for persons who know how to properly manage risk has sky-rocketed.
Understanding credit, liquidity and the various interplays is extremely valuable knowledge and the persons who have this knowledge will be able to advance in their career much quicker than those who don’t.
Things that are measured
There are many things that you will learn on this journey. These include quantitative as well as qualitative aspects to master.
The evaluation of risk models, assessing financial statements, measuring and managing credit risks, market risks and operational risk all come into play here.
Trust us, by the end of this course, you will have gained a lot and will be in a better position to function anywhere in the world.
The costs
Standard registration will set you back approximately US$550, however you can reduce this amount significantly by going for early-registration and save up to US$100.
Given the value which this program brings, we do say that this is money well-spent.
Testing locations
There are many test locations scattered around the world.
We recommend visiting the official website today in order to find the one closest to you.
The testing format
At this time, the FRM papers are handled in the English language only and GARP is moving towards a computer-based delivery system.
Within a year, the paper-based models will be phased out. One major positive of this is that the papers will be graded much quicker and the room for error will be reduced.
Exam deferrals
The governing body will allow for deferrals. Should there be any special circumstances, you are encouraged to contact them as soon as possible and explain your situation.
This body is known to be fair and understanding towards its students.
Thank you!
As always, thank you for reading with us. We are grateful and be sure to try the following links for some more information:
Success is near,
The QuestionBank Family