FRM Registration Details and Why You Must Enroll
Originally posted on https://www.frmquestionbank.com/frm-registration-details/
FRM Registration Details
The May 2019 Exam FRM Registration Deadlines are:
- Early FRM Registration: December 1, 2018 – January 31, 2019
- Standard FRM Registration: February 1 – February 28, 2019
- Late FRM Registration: March 1 – April 15, 2019
The November 2019 Exam FRM Registration Deadlines are:
- Early FRM Registration: May 1 – July 31, 2019
- Standard FRM Registration: August 1 – August 31, 2019
- Late FRM Registration: September 1 – October 15, 2019
You must seriously consider FRM registration today as GARP’s FRM certification is the golden standard for risk management professionals across the world. If you are keen on having a career in risk and finance, FRM is the professional certification you’ll need to have an impactful and fulfilling career.
Below is all the information on FRM registration and reasons why you need to register.
The importance of selecting the FRM course
Of all the professional certifications in the field of finance, GARP’s FRM has the biggest potential to propel you to a higher career level in risk management. The FRM certification is the sole accepted global standard for risk professionals.
There are many advantages you get with this certification, including countless job opportunities, higher salaries and respect in the industry.
It all starts when you register for the FRM examinations
The world of finance is pressing the need for highly qualified risk experts. The future of global economies depends on risk specialists that are skilled and seasoned enough to analyze and handle risks.
GARP has earned a strong reputation for the FRM course, churning out professionals that are a cut above the rest. When it comes to quantitative aptitudes, technical skills, technological skills, problem-solving skills and risk management standards, a certified FRM is the only choice.
Think of the long term benefits of FRM registration
A career in financial risk management requires individuals that are comfortable with solving complex risk cases, working under pressure and monitoring high-priority company transactions. Individuals without an FRM certification might lack the skills to handle these job duties effectively.
The practical nature of the FRM course ensures that it equips you with the right skills in risk modelling, financial applications and knowledge of financial markets. These skills will unquestionably make you stand out in the workplace.
Your employers and colleagues will appreciate your value in the organization. You will be the go-to person for problem solving and solutions that increase revenues and reduce risks. Along the road, you will be a favorite proposition for managerial and leadership positions.
Know the upcoming FRM exam dates and various considerations
The upcoming exam dates are May 18th and November 16th. After FRM registration, it falls on the candidates to plan their calendar so that they are available to sit for the exams. In the event of unavoidable circumstances, GARP allows you to defer the exams only once.
You can sit for level 1 and level 2 exams on the same day. However because each FRM test level take 4 hours each, you’ll need to plan for a full day of exams. The FRM Level 1 exam is held in the morning and FRM level 2 in the afternoon.
Be sure to arrive on time for your examinations, as once the GARP representatives have closed the doors, no candidate will be allowed inside. The FRM Level 1 exam typically begins at 8.00 am and Level 2 typically starts at 2 pm.
Know your FRM registration times and deadlines
There are various exam registration dates and deadlines. For the upcoming May exams in 2019:
- Early Registration period started December 1st, 2018 and ended January 31st, 2019.
- Standard Registration period was between February 1st and February 28th, 2019.
- Late Registration is between March 1st and April 1st, 2019.
For the upcoming FRM exams in November, Early Registration is between May 1st and July 31st, 2019. Standard Registration is between August 1st and August 31st while Late Registration is between September 1st and October 15th, 2019.
The registration process involves selecting the exam option, i.e., whether you want to sit for FRM level 1, Level 2 or both. During registration, you also get to choose your FRM exam site. Upon creating your GARP account, you get access to FRM books on sale, both soft copy and hard print.
Know your FRM course fees
When registering for GARP FRM course, candidates have to part with $300 in the course registration phase, plus each exam registration fees. There are different fee structures for early, standard, and late registrants.
Bear in mind that the longer you wait to register the more fees you will be liable to pay.
- Early registrants will pay the lowest fees of US$350.
- Standard registration fee is US$ 475
- Late registrants part with $650
That’s an 86% difference in FRM registration costing between the early and late registrants! Both the enrollment fees and the exam fees are not refundable.
However, if you have to retake either part 1 or part 2, you will be exempted from the FRM course enrollment fees. Please note that you cannot transfer your FRM registration status to another candidate.
Ways to pay your FRM costs
You can pay for the financial risk manager examinations through options such as credit cards, checks and wire transfers. GARP accepts credit cards like Master Cards, Visa, and Amex online. If you choose to pay via check, it must be authorized by either a US bank or a foreign bank with a US intermediary.
GARP provides wire transaction instructions on your invoice. The transaction fees for all these payment methods are US$50.
If after a successful registration, you will not be able to show up for the exam on the set date, you can apply for a deferral allowing you to sit for the exam in the next period. GARP allows for one-time deferrals of the FRM exams.
GARP has set deferral deadline dates from both the May and November exams every year. For the May exam, the deadline for deferral is April 15th and for the November exam, the deadline is October 15th.
It is further noted that deferral costs $ 150 and you will be required to sit for the exam in the next cycle. If you don’t show up then, you will forfeit all the exam registration fees and be required to register afresh.
Requesting a new FRM test site
After registration and selecting a particular exam site, you can change the location. Log into your GARP account and navigate to “My Programs” to change exam location. You can also request for a new exam site by emailing GARP.
The deadline for changing the FRM exam sites is April 15th for the May exam and October 15th for the November exam. If for some unavoidable reasons the exam site is changed, GARP will communicate this information along with the new dates and/or exam sites as soon as they can.
Getting the admission ticket
The admission tickets for the May FRM exams will be released on May 1st while the tickets for the November exam will be released on November 1st. Candidates are required to download these tickets (emailed by GARP) and print them. There is no admission via electronic tickets on smartphones on the exam day
GARP examination patterns
- Each year, you can expect that both FRM level 1 and level 2 examinations happen on the same day, twice per year.
- The exam dates in May and November often falls on the third Saturday of the two months.
- GARP FRM exams comprise of only multiple choice questions.
- There is no marking-down for wrong answers or penalties to candidates.
- Candidates are encouraged to attempt all questions.
- The FRM level 1 and level 2 exams cover all the topics in the course work.
- The questions test your understanding of the topics and your skill to apply theoretical knowledge to practical challenges that a financial risk manager may experience.
Using the Official GARP FRM study materials
Candidates are always encouraged to get their study materials from GARP. If desired, you can then enroll with a third-party FRM course provider or prepare by yourself. Third party course providers often have additional study materials including practice questions and books.
However, it’s highly recommended to use these additional materials with the official GARP FRM study notes.
The types of study materials offered by GARP include FRM books for part 1 and part 2. The books are available in hard print and digital format. You also get an array of practice questions and a study guide. Some of these materials are offered free of charge, while others are accessed by payment only.
Using additional FRM study materials
Third-party FRM study materials can help you pass the exam. GARP encourages FRM students to go through an array of study materials from other academics and practitioners as well. The tutorials and online readings are a vital part of the FRM curriculum.
The additional FRM course materials will furnish you with extra knowledge and help you make sense of the various theories and concepts.
Many candidates often seek the assistance of FRM preparation providers in going through the course. Going through sample exam questions, for instance, sharpens and readies you for the real test.
Whereas GARP will provide limited practice questions, you actually can expose yourself to an array of test questions through several online providers.
Reminders on specific FRM requirements
To attain the GARP FRM certification, you must pass the two FRM exams and get a minimum of two years of work experience in the field of finance and risk. You have to submit the proof of work experience not more than five years after you pass level 1 and level 2 exams. It should also be not more than ten years before when you first sat for the exams. The work experience could be in industry research, portfolio management or risk consulting.
Why you should never wait too long for FRM registration
As mentioned above, early FRM registration saves you money. However that is not all- with early registration, you get access to course materials and study plans and start early preparations for the exam. You will have a higher chance of success at the exams than a person who registers one month before the exam date and is rushing to get through all the materials on time.
A word on the low FRM passes
The FRM pass rate is historically low, between 40% and 50%. The pass rate is actually an indicator of the complex nature of the examinations, but that should not scare you. There have been many successful persons who had to juggle work, family and friends. With proper planning and practice, it is easy to pass the FRM exams.
The low rates also serve as a reminder of the many hours of study that need to be dedicated to the course. An enthusiastic candidate that is keen on learning to advance their career will face no problem passing the exams with flying colors
Why consider our FRM Question Bank?
We provide an effective way for candidates to study for the FRM exam. Our test books go beyond the exams and will help you become a better risk practitioner. We have already assisted hundreds of questions so that you will perform better in your FRM exams. Why not see some of our sample questions?
We know the sacrifice it takes to study for this course. For that reason, we’ve made everything simple and straightforward. Our FRM bank entails explanations of many various concepts. Theoretical knowledge is merged with practical applications to help you internalize the concepts faster.
How to get the FRM certificate
So, you will first go through the FRM registration process and pass both FRM exam levels. After this, you will receive an email notification within 6 weeks acknowledging your accomplishments.
The next step is submitting your work experience (which has to be two years in the field of finance) in your online Account Portal. GARP expects you to write a brief paragraph describing how you were involved in risk management each day.
That is your job description and summary report. You are also expected to submit your latest resume with references as proof of your work experience. Upon approval, your certificate will be mailed to you by postal service.
The Bottom Line
There is a high demand for FRM professionals. Banks, insurance companies and government agencies all need financial risk managers that are skilled to handle financial risks. In an increasingly volatile and complex environment, such persons are crucial. There is no one better equipped for that than a certified financial risk manager. Why not kick start your career today and consider FRM registration?