FRM Course: Know About the Eligibility, Career, & Scope

What is the FRM Course?

The Global Association of Risk Professionals (GARP) offers the FRM course to help you build a career in risk management. Here, you will not only learn and develop skills related to risk assessment but also learn financial modelling and regulatory compliance.

In recent times, the global financial market has become much more complex, especially because of the rise of cryptocurrencies and digital finance. This has created a huge demand for FRM professionals. So, if you want to work in the finance industry, which is experiencing the highest growth, then the Financial Risk Management course is perfect for you.

FRM Course Details

Now that you know what this course is all about, it can be a great option for you if you want to learn in detail about areas like credit risk, market risk, and operational risk. So, to make this course journey much smoother for you, we have mentioned the FRM course details below:

For starters, this course is divided into two parts, mainly:

FRM Part I: In FRM Part 1, you will get a general overview of all the topics that will be there in Part 2. Some of these topics include risk management principles, quantitative analysis, and valuation models.

FRM Part II: In part 2, you will learn about the complexities of the real world and how you can use the knowledge you have gained throughout your FRM duration, to help others.

You can finish the entire FRM syllabus in one year, but it might take around 1.5 to 2 years to complete everything, depending on your pace and schedule. Below we have mentioned FRM course details for your reference: 

Factors Influencing FRM Course Duration

The FRM course duration generally falls between 1.5 - 2 years. However, it is dependent on several factors such as candidates' qualifications and existing knowledge. In addition to that, the learning pace, preparation strategy, work experience, and time available to study must also be considered. Thus, one must understand that everyone’s journey is different and cannot be compared to other candidates. Some of the factors that significantly influence FRM course duration are listed below:

1. Educational Background and Work Experience

 If the candidate has a strong foundation for the FRM course then the time needed to master the program significantly reduces. This typically means that having prior knowledge in subjects like finance, risk management, or quantitative fields will have definitive perks. Apart from that having relevant work experience will also help you speed up the learning process. 

2. Time Available to Study

 When talking about the availability of study time for the FRM course, it refers to the learning time available. Candidates who study the program full-time will be able to dedicate a lot of time in comparison to candidates with a fixed study schedule or demanding work arrangements. Thus, the time required to cover the study material will determine the duration of the course.

3. Preparation Strategy

 The FRM course duration also depends on your strategy to prepare. A well-structured study plan, resources, and study material will have an impact on the duration. The use of good study materials will help you streamline your learning and make it more efficient. Besides, taking timed practice exams can also contribute to faster completion of the course.

4. Learning Pace

 Every candidate learns at a different speed. Thus, the time required to understand and learn new concepts may vary depending on one person to the other. Some candidates may find certain topics more tough than others, impacting their overall progress and course duration.

5. Exam Performance

 There are majorly two parts and on average, it takes about 6-9 months to prepare for each part of the FRM exam. The number of attempts that a candidate takes can impact the overall duration of their course. This is because candidates may need to re-attempt if they don't pass on their first try.

Eligibility Criteria

There are no specific criteria to enrol in the FRM course eligibility process. Even students in their first year of graduation are allowed to appear for the Financial Risk Management course Part 1 exam. However, to earn the FRM Certificate, you must meet certain conditions: 

• Successfully pass both Part 1 and Part 2 of the FRM course within 4 years of registering for the Part 1 exam.
• Accumulate at least 2 years of relevant work experience in a risk-related role within 5 years of passing the Financial Risk Management course Part 2 exam.

Cost of Pursuing FRM

The cost of pursuing FRM mainly depends on when you register for the program. So, the FRM Course Fees can be less if you go for early registration and a little pricey if you go for standard registration. Below is a breakdown of both:

• For one-time enrolment, you will have to pay $400 (INR 34,713).
• For FRM Part 1 and 2, you will have to pay $600 (INR 52,072) for early registration and $800 (INR 69,433) for standard registration.
• This makes the overall FRM course fees around $3000 (INR 2,60,395).

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Why Choose FRM Course?

Now that you know about the general FRM course details, you must be wondering why you should choose it.

The financial world is in a constant state of flux, which creates a demand for individuals with great risk management skills. So when you choose the FRM Course, you get the chance to learn to identify, analyze, and manage financial risks and get an opportunity to enhance your career in such an important field:

1. Better career opportunities:You get a chance to work in various fields like insurance, banks, consulting, and asset management.
2. Industry credibility:FRM can also boost your professional credibility, which in turn can reflect your commitment and standards in risk management.
3. Global Recognition:An Financial Risk Management course certification is recognized by organizations around the world, which can give you an upper hand in the job market.
4. Better Salary:Professionals with FRM certification get better job packages and higher salaries than those without it.

Also Read: MBA in Canada For Indian Students

Advantages vs Disadvantages of FRM Course

FRM course full form is Financial Risk Management, referring to a globally recognized certification that is awarded by the Global Association Of Risk Professionals (GARP) which is based in the USA. Moreover, this particular qualification is designed to skill candidates in managing financial risks across various financial institutions. The FRM course offers several advantages but also presents a few challenges. Some of the pros and cons of the program are as follows:

Note: FRM graduates are highly paid. Not just abroad but FRM salary in India is also great. In India, an FRM typically gets INR 6-10 lakh per year. However, the salary may vary depending on the level or position that you are working on.

FRM Exam Structure

To make your FRM preparation journey easy, you can start by first understanding the FRM exam structure, we have provided all the information regarding the structure for Part 1 and Part 2:

Paper Pattern for FRM Part 1:

Paper Pattern for FRM Part 2: 

Preparation Strategies and Syllabus

Once you have passed the FRM course eligibility, you can start your preparation. Below, you can find in detail what you should study based on the syllabus and some strategies that can help you ace it:

FRM Syllabus

When preparing for your FRM course, the main thing to remember is that its syllabus is more than a checklist to pass the exam. There, you will learn and develop skills that can help you thrive in a sector that is as complex as finance: 

FRM Syllabus for Part 1  

FRM Syllabus for Part 2 

FRM Strategies

One of the best ways to ace FRM is by starting your preparation early and paying the FRM Exam Fees to get early registration. Below are a few more strategies to help you:

1. Use the Original Study Materials: You can access the official study materials that are provided by CARP. These includes practice exams, textbooks, and various online resources.
2. Practice: Since FRM is an MCQ-based exam, you must practice a lot to mark and answer every question in less time and more accurately.
3. Focus on Weak Areas: You can use diagnostic assessments to find the areas where you are lacking. And then gives extra time and resources to those areas.

Also Read: After MBA Which Course Is Best 

Career Opportunities and Professional Growth

As we mentioned above while explaining the FRM Eligibility, FRM is great if you wish to pursue your MBA in sales, marketing, and finance. But that’s not all; it is a great course with a tremendous number of career opportunities and professional growth, both in India and abroad. You can check that out below:

FRM Career Scope in India & Abroad  

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Conclusion

In conclusion, The FRM course is a great way to unlock global opportunities and have a rewarding career in finance. But it can be quite difficult to manage and plan this whole course, especially if you are planning to study abroad. This is where Gradding.com can help; our study-abroad consultants can give you personalised assistance and help you navigate the visa process for a smoother transition to a brighter future.

FAQs

Ques1. What is the Full Form of FRM?

FRM stands for Financial Risk Manager and is a course provided by the Global Association of Risk Professionals (GARP).

Ques2. Who Should Consider Pursuing the FRM Certification?

The FRM course is a great option for those who want to build a career in risk management, especially in fields like asset management and banking.

Ques3. What Preparation Strategies Are Recommended for the FRM Exam?

Some of the best FRM preparation strategies include starting early, focusing on high weighted topics, and using the GARP materials.

Ques 4. Are There Any Specific Prerequisites or Eligibility Requirements for Taking the FRM Exam?

No, there are no prerequisites for the FRM exam. However, you do need to have at least two years’ worth of experience in a related field.

Ques5. What Career Benefits Can I Expect After Earning the FRM Certification?

Some of the best career benefits of an FRM certification are global recognition and the opportunity to work in global finance hubs like the USA, UK, and Singapore.