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2007 FRM Examination

Frequently Asked Questions

Below are some frequently asked and answered questions. If you require additional information please contact the FRM Manager.

Information about the Examination

I. REGISTRATION

1. How do I register for the 2007 FRM Examination?

Registration for the FRM Examination will start on March 1, 2007 and continue until October 15, 2007. You may register via the Internet through the GARP website or by fax. The registration form is available for downloading from the 2007 FRM Registration Page. Fax the completed form to 201-222-5022. When filling in the registration form please remember to use the name exactly as it appears on your current passport and/or government issued photo ID. You will need to bring your current un-expired passport and/or government issued photo ID for identification purposes to gain entry to the test site. If the name you used to register differs from your formal ID you will NOT be admitted to the test site. If you need to change your name, please contact frm@garp.com.

II. CANDIDATE TYPES

1. New candidate: an individual registering to take the FRM examination for the very first time or an individual who registered but did not officially request to defer their registration and did not take the examination.

2. Returning candidate: an individual who took the FRM examination in 2006 but did not pass.

3. Deferral candidate: an individual who registered in 2006 to take the FRM examination and had their registration deferred to 2007.

III. REGISTRATION AND FEES

1. What are the fees for 2007?

The fees for 2007 are listed below.

Please be advised that GARP automatically renews individual membership one year from the initial sign up date for those who pay via credit card. An email notification of this membership charge will be sent to you four weeks prior to your renewal date.

Registration Deadlines
New Candidate
Returning Candidate

Early Registration
(March 1 - April 30, 2007)

23.59 EDT (New York time)
USD 500.00

(USD 400 for exam, USD 100 for GARP membership fee*)
USD 400.00

(USD 300 for exam, USD 100 for GARP membership fee*)

Standard Registration
(May 1 - August 31, 2007)

23.59 EDT (New York time)
USD 650.00

(USD 550 for exam, USD 100 for GARP membership*)
USD 500.00

(USD 400 for exam, USD 100 for GARP membership*)

Late Registration
(September 1 - October 16, 2007)

23.59 EDT (New York time)
USD 900.00

(USD 800 for exam, USD 100 for GARP membership*)
USD 700.00

(USD 600 for exam, USD 100 for GARP membership*)

* All candidates, except for full-time students, must hold GARP Individual Member status to be eligible to take the FRM exam. GARP's Individual membership fee is USD 100 per year. STUDENTS: Any individual demonstrating he or she is a full-time student by providing an original copy of their student transcript directly from their school within 30 days of registration need only hold GARP Student Membership status to be eligible to take the FRM exam. GARP’s Student membership fee is USD 50.

All fees are to be paid at the time of registration. If you are currently a GARP Individual Member your registration is good for one calendar year from the date you paid your registration fee. However, in certain cases a candidate who is already an Individual Member at the time of his or her FRM registration will find that their membership registration will expire on or before the FRM exam date. In that case, the FRM registrant will be charged the USD 100 Individual membership fee at the time of registration for the FRM exam. The membership fee and one year membership renewal will take effect immediately upon expiration of the current Individual Member registration and will continue for one full year thereafter.

2. Can I carry forward (defer) my registration fee?

You can defer your examination fees for one year only from 2007 to 2008.
Membership fees cannot be deferred from one examination to the next
An administrative fee of USD 100 will be charged to defer your registration to the following year with the remaining FRM registration fee carrying over to the following year
There is no refund of any fees and credit is not automatically given
Request to Defer must be received no later than the final deadline date for the 2007 examination
You can defer to the 2008 FRM Exam by clicking here. The last date to defer to the 2008 FRM Exam is August 31st, 2007.
Once processed, deferrals can only be reversed after paying a fee
Once your deferral/withdrawal has been processed, an administration fee must be submitted of $20 if you want to re-enroll for the original examination. FRM will not accept requests to re-enroll after the published deferral deadline date.
The Study Guide and suggested textbooks will change from year to year and the examination is based on the Study Guide assigned that year
3. Can I transfer my registration to another candidate?

No, you can not transfer your registration to another candidate.

4. Can I withdraw from the FRM Exam?

Yes, you can withdraw from the exam but you will not receive a refund.

IV. GENERAL FRM EXAMINATION INFORMATION

1. What is the FRM's historical pass rate?

The historical pass rate is noted below:

1997: 37.0%


1998: 42.9%


1999: 53.0%


2000: 53.3%


2001: 62.7%


2002: 58.9%


2003: 53.8%


2004: 52%


2005: 42%


2006: 44.75%

2. What format does the FRM Exam take?

The FRM Examination is a 5-hour, approximately 140 question multiple-choice examination. The examination is split into two sections, each is 2.5 hours in length. The exam is given in booklet form.

3. Are the questions presented by category, e.g. Market Risk, Credit Risk?

No, an FRM Candidate is expected to be able to address risk-related issues in a comprehensive way. Questions will be presented as if the candidate to address and formulate a response to an issue in a real-world environment.

V. TEST SITES

1. Where can I sit for the Examination?

The FRM Examination is offered in various cities around the world. A complete list of the cities is provided under the Examination Sites link on the GARP website.

2. If there is no test site near where I live, what are my options?

The site listing for the 2007 FRM exam should be viewed as definitive. However, you can contact the FRM Department via email and ask to have your name placed on a list of candidates requesting another test site. If during the course of registration sufficient interest is expressed from candidates to have the exam offered in a location that may be of interest to you, you will be contacted. We have administered the FRM exam at additional test sites under this approach.

VI. PREPARING FOR THE EXAMINATION

1. What topics will be covered in the 2007 Examination and how will they be weighted?

2007 Topic coverage and weightings are as follows:

Quantitative Analysis - 10%
Credit Risk Measurement and Management - 30%
Market Risk Measurement and Management - 25%
Operational and Integrated Risk Management, Legal and Ethics – 25%
Risk Management in Investment Management - 10%

2. Are there any sample questions for candidates to review?

GARP is providing 15 sample test questions on our website. The remainder of the questions will be on an interactive CD containing around 350 Sample Test questions which is included with the 4th edition of the FRM Handbook. The Sample Test CD may also be purchased separately through GARP's book store.

3. Does GARP provide an exam study guide?

Yes. Please go to the FRM website link.

4. Is there a recommended reading list?

A list of core recommended readings to assist with your FRM Exam preparation is available with the Study Guide.

5. Where can I buy titles from the recommended reading list?

Recommended core readings are made available in a variety of ways.

Readings for the Financial Risk Manager Examination will be available for purchase. The GARP Digital Library will contain a large percentage of the required core readings for the FRM exam preparation. This offers a substantial savings to the FRM exam candidate over purchasing each book containing the readings.
Some readings are freely available through downloading from the GARP website.
Other readings are readily available for purchase at bookstores or via the Internet through online book vendors.
6. Are there any review courses I can take or study groups I can join?

GARP does not offer an FRM preparation course as the Association considers this a conflict of interest. GARP also does not endorse any FRM review course. As a service to our FRM candidates, GARP does provide a list of FRM course providers through its website. You can find the listing by going to the Exam Prep link on the GARP website. These Course Providers have asked to have their information posted for your review and are not selected by GARP.

Study groups are also listed on the FRM website for your convenience. If GARP is asked to list an FRM study group it will do so. You can find any study group listing by clicking on the Exam Prep link on the GARP website.

7. Will there be a new FRM Handbook for the 2007 Exam?

Yes, the “Financial Risk Manager handbook”, 4th Edition will be used for the 2007 FRM Exam and will be available June 2007. The FRM Handbook includes coverage of important FRM examination topics, FRM questions with detailed explanations and a summary of recent regulatory developments. This purchase includes the FRM Interactive Sample Review Test CD-ROM.

The FRM Handbook’s retail cost is USD 170 plus shipping costs. The Handbook will be sold to FRM candidates and GARP Individual members at a price of USD 119 (plus shipping).

VII. TAKING THE FRM EXAMINATION

1. When will I receive notification of my test site?

Email notification of your test site and confirmation of your ID number will be sent October 20, 2007. At that time you will be able to download from the GARP website your official Admission Ticket to the examination. It is your responsibility to keep GARP informed of your current email address so we can send you necessary information.

2. What do I bring with me on Test Day?

A. You must bring your current un-expired passport and/or government issued photo ID to the test site. The name on your ticket must match the name on your valid passport and/or government issued photo ID to gain access to the test site. You will not be able to take the examination if there is a discrepancy between the information on our system and the identification you present at the test site. GARP’s ID Policy will be strictly enforced.

B. Your calculator(s) and batteries if needed (see calculator policy).

C. Pencils (#2 HP or mechnical pencil. No pens should be used).

3. Lunch, food/drink must be consumed outside of the testing room but can be brought into test room in a clear bag.

4. May I use a personal calculator?

You may only use a Texas Instruments BA II Plus (including the BA II Plus Professional) calculator or a Hewlett Packard 12C (including the HP 12C Platinum) calculator. GARP will strictly enforce its calculator policy. NO OTHER CALCULATORS, HANDHELD PDA OR ANY OTHER ELECTRONIC DEVICES WILL BE ALLOWED INTO THE TEST SITE.

5. May I bring scrap paper to work out my answers?

NO. There are blank sheets of paper in the exam test booklet that can be used for scrap paper. No other paper will be allowed on your desk during the test. You may NOT remove the scrap book from the booklet.

6. Should I use a pencil or pen?

Only pencils are allowed for the FRM Examination.

7. May I use a dictionary?

No dictionaries, books or study materials of any kind are allowed in the room during the examination.

8. Can I eat a snack during the exam?

No food or beverages are to be consumed in the testing room during the examination. You should bring your own lunch and water, which is only to be consumed outside of the testing room.

9. Examination Testing Site

You can change your examination site by clicking here. After October 15th, 2007 there is a USD 50 processing fee for changing your Examination Testing Site. No site changes will be accepted after November 2, 2007.

VIII. AFTER THE FRM EXAMINATION

1. When will I receive my test results?

Each candidate will be sent an email stating their pass/fail status by January 15, 2008. Candidates should note that the specific results of their examination will not be released for review after completion of the examination and they will receive only a PASS or FAIL notification. GARP ID numbers of all passing candidates will be posted at www.garp.com by February 1, 2008.

2. When will I receive my certificate?

Certificates will be mailed in Mid-April 2008, only to candidates who have passed the FRM Exam and provided GARP with proof of their 2 years of work experience. Certificates will not be mailed without proof of work experience. You will need to fill out our online resume program if you are eligible to receive your certificate. If you do not possess the requisite work experience your certificate will be withheld until such time as you submit proof of the required professional experience. If your certificate does not arrive to you due to an incorrect or insufficient address, there will be a $50.00 charge to reissue a certificate and this will only be done in the late summer, time permitting.

3. What should I do if I change my postal or email address?

You can update your address and contact details at any time by going to the Membership section of GARP's website by clicking here. If you have misplaced your password, please contact GARP's Membership Services Manager at membership@garp.com.

[此贴子已经被作者于2007-4-12 9:28:50编辑过]