New May 2020 Exam Date Released - COVID-19 discussion

[Nicole Seaman]

NOTE: PLEASE READ THROUGH THE COMMENTS BEFORE ASKING SPECIFIC QUESTIONS, AS I HAVE ANSWERED COMMON QUESTIONS ALREADY IN THIS THREAD. ALSO, PLEASE NOTE THAT THERE IS A NEW THREAD WITH INFORMATION FROM GARP REGARDING THE UPCOMING OCTOBER AND NOVEMBER EXAMS: https://forum.bionicturtle.com/threads/2020-exam-update-from-garp.23454/.

As promised, I wanted to let everyone know that GARP contacted us to let us know the new exam date. They've contacted the EPPs first, as it can take longer to get the information posted on the website and they want to make sure that candidates are informed. Here is the information that was provided:

• New May Exam Date: October 24, 2020, with the exception of India exam sites
• India Exam Sites:
  • There were issues finding open exam venues due to the holidays in India.
  • All May 2020 candidates registered to take an exam at a site in India will automatically be deferred to the November 2020 exam date; OR
  • These candidates may elect to change their exam site to one outside India and sit in October, however, seats at different exam sites will be subject to availability.
• Options to defer: Any candidates registered to take a May 2020 exam at a location other than those in India will have the opportunity to defer their registration to the November 2020 exam if they so choose by logging into the GARP portal between April 1st - April 15th. No deferral fee will be charged.

GARP's Announcement: https://www.garp.org/#!/post/exam-postponement

All November dates and deadlines remain the same

 

[celclevil89]

Thanks so much @Nicole Seaman for sharing this information in advance so we can plan the study accordingly for this new date.

The only challenge that I see with this new date is if someone is failing the October exam, they will no have the opportunity to sit in November exam.But I guess with everything that is going on, it is the best alternative they can provide.

This is just a thought so hopefully this is not impacting to us!

Do you know if that is the new dates for both Parts?
Thanks!

 

[Nicole Seaman]

Thanks so much @Nicole Seaman for sharing this information in advance so we can plan the study accordingly for this new date.

The only gap that I see with this new date is if someone is failing the October exam, they will no have the opportunity to sit in November exam.This is just a thought so hopefully this is not our case.

Do you know if that is the new dates for both Parts?
Thanks!

Yes, this date is for both Part 1 and Part 2 exams.

And yes, if someone fails the exam in October, they would need to retake in May 2021. That would provide them with a number of months to study the concepts that they didn't quite understand the first time around.

 

[David Harper CFA FRM]

Thank you @Nicole Seaman

• Are we assuming that a fail in October cannot sit P1 again in November @celclevil89 because it would presumably be too late to register for November? I don't see where the email explicitly addresses this scenario ... is it conceivable GARP didn't consider the scenario of somebody who might want to re-take Part 1 in November (setting aside completely that fact that it would be un-wise to re-take only one month later).
• Correct me if I am wrong, but I do not see the email address the most common plan, which is: taking P1 in May, then with the expectation (hope) of passing P1, taking P2 in November. So, what happens to those who pass P1 on October? They also must wait until May 2021 (again, setting aside that this is the only practical plan anyhow)

these are just "technical" questions because from a realistic/practical viewpoint, it seems to me that anybody who sits in October would not have a plan to sit only one month later in November! That seems to apply either to a pass/fail in October, as one month is not sufficient time to either re-study P1 or study P2. Perhaps this is already implicit in GARP's thinking, i just do not see it exactly addressed in the sent email.

P.S. @Nicole Seaman informs me that "Registration for the Nov exam closes on October 15th." .... okay so I see where you are coming from @celclevil89 Thank you!

 

[lucalaboranti]

Thanks @Nicole Seaman for sharing this information and @David Harper CFA FRM for your analysis.
I would like to know if to all those, like myself, who originally planned to take both exams in 2020 would be possible/advisable to exercise the "defer option" and take both part 1 and 2 in November?

 

[Nicole Seaman]

Thanks @Nicole Seaman for sharing this information and @David Harper CFA FRM for your analysis.
I would like to know if to all those, like myself, who originally planned to take both exams in 2020 would be possible/advisable to exercise the "defer option" and take both part 1 and 2 in November?

Hello @lucalaboranti

This is something that GARP would need to answer. I will try to get an answer for you, but it may also be included in the post on their website (when it is posted). Either way, I will see what I can find out.

 

[David Harper CFA FRM]

FYI, somebody asked:
"Can I ask a question here? If I register for the October(previously May) exam now will it be considered an early registration or a late registration?" (here at reddit/FRM )
... I'm don't know the answer to that

 

[Nicole Seaman]

FYI, somebody asked:
"Can I ask a question here? If I register for the October(previously May) exam now will it be considered an early registration or a late registration?" (here at reddit/FRM )
... I'm don't know the answer to that

@David Harper CFA FRM The registration for the May (now October) exam was closed when GARP had to postpone the exam. Anyone who is not already registered for the exam will need to wait until the November registration window opens.

I only know this because it was previously asked HERE and I contacted GARP to get the correct answer

 

[Nicole Seaman]

Thanks @Nicole Seaman for sharing this information and @David Harper CFA FRM for your analysis.
I would like to know if to all those, like myself, who originally planned to take both exams in 2020 would be possible/advisable to exercise the "defer option" and take both part 1 and 2 in November?

Hello @lucalaboranti

GARP just responded to your question, and the answer is YES. "Yes, if a candidate wishes to defer their Part I exam to the November date and then add the Part II registration when the exam cycle opens in May they will be permitted to do so. Same rules apply though, if they don’t pass Part I then we don’t grade Part II."

So, you have between April 1st and April 15th to defer your Part 1 exam to November. Then, when the November exam registration opens on May 1st, you can also register for Part 2.

 

[shuffleshoe]

Well, there goes my plan to finish level 1 and 2 in 2020... I'm not able to study to take both levels at once in November since that's just too much for me.

I also bought both levels of the bionic turtle subscription earlier this February because i was planning to do L1 in may and L2 in november. Since that is falling through, will i know have to pay extra to extend it to may 2021?

 

[Nicole Seaman]

Well, there goes my plan to finish level 1 and 2 in 2020... I'm not able to study to take both levels at once in November since that's just too much for me.

I also bought both levels of the bionic turtle subscription earlier this February because i was planning to do L1 in may and L2 in november. Since that is falling through, will i know have to pay extra to extend it to may 2021?

Hello @shuffleshoe,

Since we JUST found out about this today, we have not had sufficient time to come up with the best course of action regarding subscriptions yet. Obviously this has a huge effect on us as a business also, as I'm sure everyone can understand. Your subscription doesn't expire until February 2021 so we don't really need to worry about the subscription expiration just yet in your case. Once we have created a plan for the best course of action, we will be sure to post it in the forum for our members.

Thank you,

Nicole

 

[caaaamilla]

Thank you @Nicole Seaman so much for this information. I am glad to see that the exam date has been postponed to October. However, my situation is a bit different here. I initially registered to write the exam in Shanghai, China because I am here now and I will be here till August. However, I am going back to Toronto for my study in late August and thus I won't be able to write either the October or November exam in Shanghai.

Due to my circumstance, I am wondering would GARP offer the option for candidate to change writing location as well?

 

[lada]

Hello! The last attempt for me to take the FRM Part II exam is in November 2020, would you know if it will be deferred given the situation with COVID-19 and the change of the May 2020 exam date? I know that GARP will postpone the due date until May 2021 for those who had their last attempt in May 2020, but not sure if the same will be done for all candidates. Otherwise, it looks that I have one less attempt to take the exam. Thank you!

 

[rahul.sharma]

Thank you @Nicole Seaman for keeping us updated with the announcements.
As per the recent announcement, my FRM Part 1 exam has been rescheduled to November 21, 2020 as my test location is India.
I'm facing some difficulty understanding whether a deferral to May 2021 exams would be allowed for candidates who had their test location as India.

If yes, would it be allowed at no additional cost?

If not, Can the candidate defer the exam to May 2021 after paying the requisite fee of USD 150
(Second deferrals are not considered by GARP as per their policy)

I haven't deferred my exam before and am not sure whether the rescheduling of the Exam to November, 2021 will be deemed as a deferral.

 

[FastTrackToFRM]

Thank you @Nicole Seaman for your prompt updates. I am also facing a similar predicament to the one above. Due to the COVID-19 situation, I am unsure whether I will be in Paris or Singapore in October as of yet (Originally I planned to take it in Paris in May). When will be the last day for changing exam centers? Also, my subscription expires this August 2020, and I understand the short turnaround time you have. Could you please let us know whenever possible whether it can be extended for some more time? Thank you!

 

[mckenny]

Hello @lucalaboranti

GARP just responded to your question, and the answer is YES. "Yes, if a candidate wishes to defer their Part I exam to the November date and then add the Part II registration when the exam cycle opens in May they will be permitted to do so. Same rules apply though, if they don’t pass Part I then we don’t grade Part II."

So, you have between April 1st and April 15th to defer your Part 1 exam to November. Then, when the November exam registration opens on May 1st, you can also register for Part 2.

Thanks Nicole for this update. The immediate thinking for me was to see if it was going to be possible to sit the L1 in October and then L2 in November given the amount of time available for preparation. My plan was to complete the certification in 2020. With this option provided by GARP, it appears the better option is to defer to November first and then try and evaluate the possibility of sitting the two Levels on the same day in November.

 

[Sixcarbs]

It will be interesting to see of they let people take L1 in October and L2 in November under the condition that the L2 will not be graded if they do not pass the L1. That's the same as they do for people taking them both the same day.

I hope CFA also moves the exam to the fall and does not make us wait until December.

 

[czet]

If you read the text they uploaded to their website, they clearly state that you wont be able to do level 1 in Oct and level 2 in Nov (see below). Also they state that both exams might be moved further, into 2021, in case the situation still requires it. Personally, I think this might very well be the case since this exam is definitely nothing critical for survival where we should expect special treatment to allow for large groups of people. But let's see.

Quotes from GARP:
"Can I take Part I of the FRM or ERP in October and Part II in November?
No. You cannot register for the October and November Exams at the same time, as the period between the two dates is too short to provide candidates with their Part I performances prior to taking Part II."

" What happens if the COVID-19 situation is still not resolved and GARP is not able to offer Exams in October?
GARP will make every effort to hold the October 2020 and November 2020 Exam dates as scheduled. However, our focus is always on the health and safety of candidates. If the COVID-19 situation is not resolved by then or another situation arises, GARP is making backup arrangements to hold either or both Exams early in 2021. These Exams would still be based on the 2020 curriculum. We will update you as soon as possible if anything changes."

 

[Sixcarbs]

If you read the text they uploaded to their website, they clearly state that you wont be able to do level 1 in Oct and level 2 in Nov (see below). Also they state that both exams might be moved further, into 2021, in case the situation still requires it. Personally, I think this might very well be the case since this exam is definitely nothing critical for survival where we should expect special treatment to allow for large groups of people. But let's see.

Quotes from GARP:
"Can I take Part I of the FRM or ERP in October and Part II in November?
No. You cannot register for the October and November Exams at the same time, as the period between the two dates is too short to provide candidates with their Part I performances prior to taking Part II."

That really doesn't make sense from a business point of view. They routinely allow people to take Parts 1 and 2 on the same day knowing that if they don't clear Part 1 then Part 2 will not be graded. Why not allow someone to take Part 1 in October and Part 2 in November, before they have their Part 1 result, under ths same rules? If you didn't pass October P1, November P2 will not be graded.

But hey, their playground, their ball, they can run it how they like.

 

[Nicole Seaman]

Thank you @Nicole Seaman so much for this information. I am glad to see that the exam date has been postponed to October. However, my situation is a bit different here. I initially registered to write the exam in Shanghai, China because I am here now and I will be here till August. However, I am going back to Toronto for my study in late August and thus I won't be able to write either the October or November exam in Shanghai.

Thank you @Nicole Seaman for keeping us updated with the announcements.
As per the recent announcement, my FRM Part 1 exam has been rescheduled to November 21, 2020 as my test location is India.
I'm facing some difficulty understanding whether a deferral to May 2021 exams would be allowed for candidates who had their test location as India.If yes, would it be allowed at no additional cost?If not, Can the candidate defer the exam to May 2021 after paying the requisite fee of USD 150(Second deferrals are not considered by GARP as per their policy)I haven't deferred my exam before and am not sure whether the rescheduling of the Exam to November, 2021 will be deemed as a deferral.

Due to my circumstance, I am wondering would GARP offer the option for candidate to change writing location as well?

Hello! The last attempt for me to take the FRM Part II exam is in November 2020, would you know if it will be deferred given the situation with COVID-19 and the change of the May 2020 exam date? I know that GARP will postpone the due date until May 2021 for those who had their last attempt in May 2020, but not sure if the same will be done for all candidates. Otherwise, it looks that I have one less attempt to take the exam. Thank you!

Thank you @Nicole Seaman for your prompt updates. I am also facing a similar predicament to the one above. Due to the COVID-19 situation, I am unsure whether I will be in Paris or Singapore in October as of yet (Originally I planned to take it in Paris in May). When will be the last day for changing exam centers? Also, my subscription expires this August 2020, and I understand the short turnaround time you have. Could you please let us know whenever possible whether it can be extended for some more time? Thank you!

@caaaamilla @rahul.sharma @lada @FastTrackToFRM

As much as I would like to help each of you, I, unfortunately, do not have the time to contact GARP regarding every individual case and circumstance. We are working very hard to continue preparing materials for all of our members and it would just take too much time for me to contact GARP for every member who asks for specific information. If anyone has specific questions that GARP has not already answered in the post on their webpage (HERE), please contact them directly to get the answer to your questions. If you do not receive a timely reply (this does not mean only waiting for a few hours or a couple of days considering the current virus situation ), then I will be happy to reach out to them. When you do receive an answer to your question, it would be helpful if you could post it here for other members, as I'm sure some of the same questions will continue to come up for many candidates.

MEMBER SERVICES
Email: [email protected]

They have also provided phone numbers for different countries here on their website: https://www.garp.org/#!/about/contact-us