The process of becoming a certified professional in any field can be long and daunting. Some positions require classroom courses and preparation. Others, on the other hand, only require passing a certain exam based on the candidate’s knowledge. The curriculum is also essential, depending on the field you want to be a part of. If the field is a dynamic and complex one like the financial industry, then you also need a dynamic curriculum to match such a field. If you are interested in acquiring risk management certifications, there are financial risk management courses that you can take. The GARP and PRMIA offer FRM course and self-study programs created to be at the same pace as the learners such as yourself. Nonetheless, both organizations prepare rigorous examinations that will test both the knowledge and ability of the candidate or exam taker.
From the PRMIA, they have a PRM program that covers four examinations. They don’t require the candidate, though, to take all these four exams all at once. They also don’t require the exam taker to follow an order of taking these exams. PRM Exam I includes theories in finance as well as financial markets and instruments. Exam II covers the mathematics aspect of risk measurement. Exam III is a test that involves the common practices utilized in the field of risk management. Finally, Exam IV covers professional ethics, standards, bylaws, and conduct set by the PRMIA.
PRM exams are given in multiple choices. From the database, candidates answer a total of 120 multiple-choice questions. While a multiple-choice exam might seem easy, the use of a database means that the organization will test the candidate in every angel possible. You can say that the exams are fairly difficult because only 50% of the candidates can complete the certification with the 60% passing rate requirement. In preparing for this type of exam, the PRMIA emphasizes that the candidates can simply make it by doing their jobs properly. Find out more at https://www.frmquestionbank.com.
With GARP, on the other hand, getting financial risk management certification implies passing the FRM exam. Also, some may need to take an FRM course accordingly if that is what they want. Once you are ready to take the FM examination, the GARP may require you to take either one or two exams. All of the FRM exams come in multiple-choice formats. If you take the FRM exam with only one part, you will answer 140 questions in total. On the other hand, the two-part FRM exam requires you to answer 100 questions for Level I and Level II, 80 questions. Discover more here: https://en.wikipedia.org/wiki/Test_(assessment).