COVID-19 Updates

[Eustice_Langham]

Thank you @Evangelia_Mintzai2 for copying GARP's response. The wording of these two sentences is awkward to me: "And also we don't change the current exam schedule. However, We will let you know if it's necessary to cancel to defer the exam in May."

Something else to remind everyone of the ambiguity of GARP...the HK exam last November, GARP were giving assurances that it would go ahead as planned on the Wednesday then only two days later it was cancelled.

 

[anton.mahkats]

...GARP were giving assurances that it would go ahead as planned on the Wednesday then only two days later it was cancelled.

I would not compare a small and isolated HK case with a global outbreak affecting pretty much all the FRM exam sites.

 

[corinne.lieberman21]

@corinne.lieberman21

Just remember that no study hours are wasted. If they cancel the May exam, there is still the November exam so, either way, those 250 study hours are definitely not a waste of time. We aren't memorizing here, right? We are learning not only for the exam, but also for the real world so these concepts need to be learned in-depth no matter when you take the exam.

Globally, everyone is very stressed about this pandemic and I'm sure it is very hard for companies to make the call to cancel or continue their operations. Since the exam is in May, it is very difficult to predict what the situation may be at that time. I think the best thing to do is to continue with your studies at this time. Continuously contacting GARP will unfortunately not make them come up with a decision any quicker. I'm sure they are doing what they can to make the decision without the outside influence of FRM candidates. We all just need to do what we can to lessen the stress around us.

I actually spoke with them today and they said they will have a final decision on whether to proceed with the exam/waive deferral fees in the next few days. They have alot of our money, so I think it is OK to put pressure on them. Also, yes the exam is in May, but CDC came out with the no groups with 50+ people for 8 weeks guideline, which is the date of the exam, so the decision becomes less difficult.

 

[Serdar7891]

Good solution for them would be to push it a month forward, so in June, instead of postponing to November as I will forget everything by that time and have do re-study everything again.

 

[Eustice_Langham]

@corinne.lieberman21

Just remember that no study hours are wasted. If they cancel the May exam, there is still the November exam so, either way, those 250 study hours are definitely not a waste of time. We aren't memorizing here, right? We are learning not only for the exam, but also for the real world so these concepts need to be learned in-depth no matter when you take the exam.

Globally, everyone is very stressed about this pandemic and I'm sure it is very hard for companies to make the call to cancel or continue their operations. Since the exam is in May, it is very difficult to predict what the situation may be at that time. I think the best thing to do is to continue with your studies at this time. Continuously contacting GARP will unfortunately not make them come up with a decision any quicker. I'm sure they are doing what they can to make the decision without the outside influence of FRM candidates. We all just need to do what we can to lessen the stress around us.

Agree, but for a number of people it would be extremely beneficial for

I would not compare a small and isolated HK case with a global outbreak affecting pretty much all the FRM exam sites.

Isolated? Hong Kong, let me guess you have never been to HK, the last thing that HK is isolated. In any case my comment was to mean that GARP made that decision with one day to go before the November 2019 exam so you may expect that if a decision is made to postpone the May exam that people cannot expect much warning.

 

[Eustice_Langham]

I actually spoke with them today and they said they will have a final decision on whether to proceed with the exam/waive deferral fees in the next few days. They have alot of our money, so I think it is OK to put pressure on them. Also, yes the exam is in May, but CDC came out with the no groups with 50+ people for 8 weeks guideline, which is the date of the exam, so the decision becomes less difficult.

Thanks very useful to know...also very frustrating that GARP itself wont send this email but we find out via BT.

 

[leon198722]

As a HongKonger.. i am not optimistic to see May 2020 exam to be held in HK.. i was prepared to sit for the Nov 2019 exam and eventually got postponed by GARP...

Maybe Nov 2020 is the right time.. who knows? Hope everybody stay safe and healthy and the Coronavirus be contained very soon.. Best Wishes..

 

[Eustice_Langham]

Im inclined to agree I cant see the exam going ahead in May now...this is a massive inconvenience and if November is the next slot I would actually consider ditching the entire thing all together. The exam should have gone ahead last November. I just hope that if November is the next date that study material providers do not penalise those impacted.

 

[tami_92]

Last registration date for May 2020 exam is April 15th: kind of difficult that they will take any official decision before that date. Anticipating it would be a very poor strategy from their side. But this is just my opinion...

 

[Eustice_Langham]

Last registration date for May 2020 exam is April 15th: kind of difficult that they will take any official decision before that date. Anticipating it would be a very poor strategy from their side. But this is just my opinion...

Personally, I think that a decision will be made before then, as they will know by then if the exams can be held or not.

 

[anton.mahkats]

Isolated?

In the sense that only one region was affected, rather than pretty much all, so the scale was completely different. I think it was quite clear from the context what I meant.

 

[Eustice_Langham]

In the sense that only one region was affected, rather than pretty much all, so the scale was completely different. I think it was quite clear from the context what I meant.

Your response didnt make alot of sense when viewed in the broader context..so no sorry it wasn't quite clear.

 

[Nicole Seaman]

Thanks very useful to know...also very frustrating that GARP itself wont send this email but we find out via BT.

We will certainly let everyone know if we hear that the exam is canceled in May, however, the only way that we will find out is if GARP announces it. They don't provide us with much more information than they do the candidates, unfortunately. We will provide any updates on information we receive here in the forum.

 

[Adam633]

heads up: CFA just postponed. Hopefully we recieve an update from GARP one way or the other soon.

(Bloomberg) --
The CFA Institute postponed its June exam amid the spread of the highly contagious coronavirus, with candidates who were planning to take the test delayed until December at the earliest.

 

[hlahdar]

heads up: CFA just postponed. Hopefully we recieve an update from GARP one way or the other soon.

(Bloomberg) --
The CFA Institute postponed its June exam amid the spread of the highly contagious coronavirus, with candidates who were planning to take the test delayed until December at the earliest.

thanks Adam633 !
i don't know what is GARP waiting for...

 

[ps_ricky_son]

Just to express my dissatisfaction on the GARP.

In November 2019, the agency already lagged behind the CFA Institute in canceling the exam in Hong Kong. Now it is gambling to host the May exam as scheduled again at the expense of candidates - who not only worried about the significant change of syllabubs but also the probability of being infected when sitting in the exam. GARP stands for Global Association of Risk Professionals. Unfortunately, this time, it shows us again that it fails to cater for the systematic risks. I personally do not observe any professionalism. to hold or to postpone, we demand an answer soonest!

 

[taekyeong.katy.ko]

Hi all, I called GARP up, and they said they would decide at latest the end of March. I think the size of the exam participants is smaller compared to CFA, so hopefully won't be an issue around holding exam as planned. Sincerely hoping this situation would get better by the mid-May.

 

[Nicole Seaman]

Please see my new post in the forum here regarding communication that we received from GARP: https://forum.bionicturtle.com/threads/covid-19-update-from-garp-regarding-may-2020-exam.23154/

 

[David Harper CFA FRM]

@taekyeong.katy.ko FRM is smaller than CFA, I think the comparison in terms of annual registrants is >80k versus 250k is what I thought I read about the CFA (@Nicole Seaman does that sound right? Nevermind, I just accessed the EPP presentation which says "Over 80,000 registrations in 2019"), so perhaps the FRM is 1/3rd the size, but in my estimation, the FRM is still large enough (and globally dispersed) to beg similar considerations.