FAQ Before Exam Registration Requirements for FRM Exam

[Neha_Agrawal]

Do I need to evaluate my master's degree to apply for FRM exam. I don't have any degree from US. What are the requiremtnents to apply for this certification.

Neha

 

[David Harper CFA FRM]

Hi Neha,

Did you see this: https://www.garp.org/#!/frm/frequently-asked-questions
It is a work experience requirement, rather than an educational requirement.

Although, frankly, I have not focused on this requirement and it seems rather non-specific. I sent an email to my GARP contact to see if they have more formalized education requirements - I'll post back here when i hear back.

Thanks,
David

 

[Neha_Agrawal]

Thanks David

Please correct me if I am wrong. My understanding is that work-ex is required if you clear the exam. Though I am working as a Business Analyst for the finance division of a healthcare industry. I do not have a exerience with core financial industry. Hope that is not a requirement to sit in the exam.

Could you confirm that I would not require to send my Masters degree for evaluation to register for 2008 exam.

Regards
Neha

 

[David Harper CFA FRM]

Hi Neha,

Daniel Manzo of GARP replied to my query (copied below). He says, "There is no prerequisite to take the FRM (educational or work experience), however GARP Individual Membership is required to sit for the FRM exam. Individual membership is $100." So, no work experience is required to sit. You can sit for the exam, to be sure.

What I would still like, for my own understanding, is more clarity on the work experience criteria; as stated, it would seem to allow for quite a few jobs (e.g., why wouldn't working in a finance division qualify?) Note it includes auditing and economics, so it does not seem to draw a "bright line" per se. I would think a candidate would still like to know, before sitting, whether their current work does qualify...I asked for more detail on this criteria....

Here is Daniel Manzo's response to me today:

"Listed here are guidelines and other information regarding the FRM, all of this information can be found on our website.

There is no prerequisite to take the FRM (educational or work experience), however GARP Individual Membership is required to sit for the FRM exam. Individual membership is $100, you will receive many benefits such as:

• Free annual subscription to GARP Risk Review
• Substantial registration discount on GARP Events, such as the Annual Convention, Conferences and Training Seminars
• A 30% discount on most publications in the new GARP Digital Library
• Attendance at local chapter meetings free of charge
• Opportunity to take the FRM exam and be certified as a Financial Risk Manager
• Full Access to the Career Center, including resume posting and job agent services
• Receive Daily e-news alerts
• Ability to vote on GARP matters
• Access to all areas of the website
• GARP newsletter

In order to be certified as a Financial Risk Manager (FRM) and be able to use the FRM acronym after your name, the following is required:

• A passing score on the FRM Examination.
• Active membership in the Global Association of Risk Professionals.
• A minimum of two years experience in the area of financial risk management or another related field including, but not limited to, trading, portfolio management, academic or industry research, economics, auditing, risk consulting, and/or risk technology."

 

[Neha_Agrawal]

I appreciate your concern in this regard.

Thanks and Reagrds
Neha Agrawal

 

[idalton]

My frustration with GARP is about it's inability to clarify their work requirements. For example I have worked for an asset management firm for the last eight years and I have designed, developed and came up with the requirements needed to build homegrown trading, portfolio management and research systems and of course within them are many components related to managing risk. So before I spent the next 7 months studying for a test I want to make sure my past experience qualifies me for the designation if I past. I sent an email to them a while ago and never received a response back.

I mean come on look at the response you got back from them. It was a cookie cutter answer which never actually answered the questions asked.

I attached some of my work history and maybe if anyone knows what GARP is really looking for in work requirements can let me know if I fall within their requirements.

Thanks

 

[David Harper CFA FRM]

Hi Ian,

I agree with you. Given the time/money implied by sitting for the exam, there should be more "prospective clarity" around meeting the work experience guidelines. I just wrote my contacts at GARP to echo this weakness, the boilerplate perhaps reflects a discretionary willingness on their part, but I think they could learn from CFA about providing up front guidance that leaves minimal doubt in candidates' minds

But in your case, as i look at you resume, assuming the experience attaches to a company and spans 2 years (which of course it does), I can tell you with certainty this resume does qualify by a wide margin. You are knee deep in risk technology. Hope that helps...David