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Description
The Financial Risk Manager (FRM®) designation is the globally recognized benchmark for those who manage risk. FRM®-Level 2, a certification offered by GARP (Global Association of Risk Professionals), is the second-level qualification for risk management professionals. This certification builds further upon a solid footing in the principles of analyzing, controlling, or assessing potential credit risk, market risk, and liquidity risk as well as non-market related financial risks. Successful completion of this level signifies the candidate’s ability to keep abreast of rapidly evolving and challenging financial scenarios, and measures his/her grasp of current technical and industry knowledge.
The FRM® Level 2 Exam is a challenging and practice-oriented exam, which calls for systematic and comprehensive study methodology to ensure success. Part II focuses on the application of the tools acquired in Part I through a deeper dive into market, credit, operational and integrated risk management, investment management as well as current market issues.
What you will learn:
The workshop and the subsequent FRM® certification will help you:
- Become recognized across the globe as a leader in financial risk management
- Increase your career opportunities and enhance your earning potential
- Expand your knowledge and understanding of the latest financial risk concepts
- Develop your personal and professional opportunities within the world of finance
- Add to your credibility and respect from employers, peers, and clients
- Grow your global networking connections to over 26,000 FRM® holders in 136 countries across the globe.
You will also get:
- High quality training from an industry expert
- 50 PDUs
- Downloadable e-book
Key Features
Certification
Prerequisites:
Candidates must have passed Part I of the FRM®Exam in order to have Part II graded. The passing score is determined by the FRM Committee.
Certification:
In order to be certified as a Financial Risk Manager (FRM®) and be able to use the FRM acronym after your name, the following are required:
- A passing score on both Part I and Part II of the FRM®Examination
- A minimum of two years professional full-time work experience in the area of financial risk management or another related field including, but not limited to, trading, portfolio management, faculty academic, industry research, economics, auditing, risk consulting, and/or risk technology
- Active Fellow Membership in GARP
The Exam
The FRM®Exam is a pencil and paper multiple choice exam given in two parts. It is offered exclusively in English, in May and November every year.
The FRM Exam Part II focuses on applying the tools acquired in Part I through a deeper dive into market, credit, operational and integrated risk management, investment management and current market issues. The FRM Exam Part II will have 80 multiple choice questions (on 5 topics). The exact number of questions is subject to minimal change. The test will need to be completed in 4 hours’ time.
| Topics | Weightage in FRM®Level 2 Exam |
| Market Risk | 25% |
| Credit Risk | 25% |
| Operational Risk | 25% |
| Risk Management and Investment Management | 15% |
| Current Issues in Financial Markets | 10% |
The questions are multiple choices and there will be no negative marking.
For more details, visit GARP’s FRM Exam Format Webpage.
Curriculum
- Market Risk
- Credit Risk
- Introduction to credit risk
- Measuring actuarial default risk
- Measuring default risk from market prices
- Credit exposure
- Credit derivatives and structured products
- Managing credit risk
- Operational risk
- Risk Management and Investment Management
- Current Issues in Financial Markets
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Junior Software EngineerFrequently Asked Questions
The Financial Risk Manager (FRM®) designation is the globally recognized level for those who manage risk. FRM®- Level 2, a certification offered by GARP (Global Association of Risk Professionals), is the second-level qualification for risk management professionals. This certification establishes a solid footing in the principles of analyzing, controlling, or assessing potential credit risk, market risk, and liquidity risk as well as non-market related financial risks. Successful completion of this level signifies the candidate's ability to keep abreast of rapidly evolving and challenging financial scenarios, and measures his grasp of current technical and industry knowledge. The FRM® Level 2 Exam is a challenging and practice-oriented exam, which calls for systematic and comprehensive study methodology to ensure success. Part II focuses on the application of the tools acquired in Part I through a deeper dive into market, credit, operational and integrated risk management, investment management as well as current market issues. FRM® holders perform a range of functions related to risk management within investment banks, asset management firms, as well as in corporations and government agencies. Certified FRMs who have successfully completed the rigorous FRM® programme are much valued by top employers across a range of businesses.
FRM® holders perform a range of functions related to risk management within investment banks, asset management firms, as well as in corporations and government agencies. Certified FRMs who have successfully completed the rigorous FRM® programme are much valued by top employers across a range of businesses.
This course is currently not available in a purely virtual format. Please check for updates.
You can appear for the exam even without the required work experience but remember that in order to get the certification and practice as an FME, you must pass the exam and gain the stated work experience.
If one passes the FRM exam (Full exam or both Part-1 and Part-2) but does not have the 2 years of relevant work experience, GARP issues a letter stating that the candidate has passed the FRM exam. The candidate will be considered as "FRM Holder" but not "Certified FRM Holder". The FRM certification will be conferred after the candidate submits proof of 2-years work experience to GARP, and receives confirmation from GARP that the candidate has been formally included on its registry of certified FRM holders.
Candidates are entitled to use the statement "FRM Program: Passed Parts I & II" in their resume.
Yes, you must aim to gain FRM Part II within 4 years from the date when you passed the FRM Part I exam. Also you have 5 years from the date you passed the FRM Exam Part II to have your work experience verified.
You will receive 50 PDUs
PDUs are credits awarded by the Project Management Institute and recognize your dedication to project management best practices. PDUs are offered by the PMI®, and every PMI® certification, except the CAPM®, requires you to earn a specific number of PDUs per three-year certification cycle.
In order to appear for the FRM exams, you have to first register with www.garp.org. The fees are different depending on when the candidate has enrolled and as what. The following link will give you all the details: https://www.garp.org/#!/frm/fees-payments
KnowledgeHut will give you comprehensive courseware in the downloadable format. Free exam study guides are also available from GARP but if you want official books from GARP then you have to pay for them.
GARP requires certified individuals to gain and maintain Continuing Professional Development (CPDs) to meet the career demands of a FRM® and stay up-to-date.
For more information check: https://www.garp.org/#!/cpd
Remember that GARP does not provide refunds for either the Exam Enrolment or Exam Registration Fee.
Any registration cancelled within 48 hours of the initial registration will be refunded in FULL (please note that all cancellations will incur a 5% deduction in the refunded amount due to transactional costs applicable while refunding). Refunds will be processed within 30 days of receipt of written request for refund. Kindly go through our Refund Policy for more details: https://www.knowledgehut.com/refund-policy
Please send in an email to support@knowledgehut.com, and we will answer any queries you may have!
An indicative mix of participants would include:
- Analytics Client Consultants – Risk Management Analytics
- Risk Managers, Personal Banking
- Corporate Risk – Managing Directors – COO & Risk Officers for Global Asset Liability Management
- Risk Quantification Managers
- Managers, Operational Risk Advisory and Oversight for Wealth Management
- Large Enterprise Commercial Risk Managers
- Senior Operational Risk Managers
- Credit Risk Specialists
- Market Risk Specialists
- Operational Risk Analysts
- Regulatory Risk Analysts
- Prudential Risk Managers
- Enterprise Risk Managers