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FRM® - Frequently Asked Questions

What are the minimum eligibility requirements for FRM®?

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 Fellow 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. Click here for a sample list of qualifying job titles.

However, there are no minimum eligibility requirements for appearing for the FRM® exam.

I do not have relevant work experience, am I eligible for FRM®?

Although to get the FRM® charter you need two years of relevant work experience, however, there is no eligibility requirements for appearing for the FRM® exam. You can appear for the FRM® exam, clear it, get the relevant work experience and then get the charter.

If you passed the FRM® exam (Full exam or both Level-I and Level-II) but do not have the 2 years of relevant work experience, GARP will issue you a letter stating you passed the FRM® exam. You will be considered as "FRM® Holder" but not "Certified FRM® Holder". You will not be eligible to use the FRM® designation after your name until such time as you have gained the 2 years of work experience, submitted proof of such to GARP, and have received confirmation from GARP that you are formally included on its registry of certified FRM® holders. However, you can include the following statement on your CV/Resume : "FRM® Program – Passed Levels I & II". That would add value to your resume.

After you have passed both the FRM® Exam Level I and II, met the 2 year work experience requirement and received an email notification that your CV/Resume submission for your FRM® Certificate has been reviewed and is complete, you can begin using the FRM® designation after your name.

I am an undergraduate, am I eligible for FRM®?

I have passed the FRM® Exam Level I and I have yet to take the FRM® Exam Level II. Can I note on my CV/resume that I passed Level I?

If you have passed the level-I exam but have not appeared/passed the level-II exam, you can include the following statement on your CV/Resume : "FRM® Program – Passed Level I"

I have passed the FRM® Exam Level I and FRM® Exam Level II, but have not yet met the work experience requirement. What can I state on my CV/resume?

If you have passed the FRM® Exam Level I and Level II, but have not yet met the work experience requirement or been notified by GARP that your work experience meet the requirements for certification, you will be considered to be "FRM® Holder" and you can include the following statement on your CV/Resume : “FRM® Program – Passed Levels I & II”

I have passed the FRM® Exam Level-I and FRM® Exam Level-II, is there a time limit when I have to submit my CV/resume?

Yes. Once you pass both the levels, you have 5 years from the date you passed the FRM® exam level-II to submit your CV/resume to GARP's Resume Builder. If you fail to submit your CV/resume within the 5 year timeframe then you will have to retake the FRM® exam to become a certified FRM®.

If I fail the FRM® Exam Level I, am I required to re-take the exam within a certain period of time?

No. There are no restrictions on when you can re-register for FRM® Exam Level I. If you re-register you will be required to pay the exam fee only, you do not have to pay the enrollment fee.

I have passed the FRM® Exam Level I. Am I required to register for the FRM® Exam Level II within a certain period of time?

Yes. Once a candidate passes FRM® Exam Level I they must pass FRM® Exam Level II within 4 years. If a candidate fails to pass the FRM® Exam Level II within that timeframe, they must start the program all over again and re-enroll in the FRM® Exam Program

GARP does not endorse, promote, review or warrant the accuracy of the products or services offered by IIQF of GARP Exam related information, nor does it endorse any pass rates that may be claimed by the Exam Prep Provider. Further, GARP is not responsible for any fees or costs paid by the user to IIQF nor is GARP responsible for any fees or costs of any person or entity providing any services to IIQF. ERP®, FRM®, GARP® and Global Association of Risk Professionals™, ICBRR® and FBR™ are trademarks owned by the Global Association of Risk Professionals, Inc.