The designation shows that an individual has experience with and a depth of knowledge about risk management best practices and the finance theory underpinning risk management. PRM designees work for large banks and corporations, universities, government agencies, and other non-financial organizations. The PRM certification is a well-respected credential for risk management professionals and is designed to help those professionals develop a detailed understanding of financial risk management. The designation can be helpful for all types of risk managers, as well as financial analysts and CEOs since the program prepares candidates with skills that are considered important by business professionals. In order to maintain the designation, certificate holders need to have a Sustaining PRMIA Membership, which costs $200, and complete 20 Continuing Risk Learning (CRL) credits each year. It also includes a Practicum Assessment that assesses the ability to apply lessons learned from the PRMIA case studies using knowledge from across the PRM syllabus. Exam 1 has 60 questions, and Exam 2 has 84 questions. Exam 1 tests candidates on their knowledge of finance theory, instruments and markets, as well as their ability to apply the mathematical foundations of risk measurement.Įxam 2 tests candidates on their knowledge of risk management frameworks, asset liability management, funds transfer pricing, the specific risk areas of operational risk, credit risk, counter-party credit risk, and market risk, as well as the PRMIA standards and governance. The tests are 100% multiple-choice questions. If you are a CFA or were in a PRMIA-accredited university program, you may be able to skip taking Exam 1. The PRM exams were recently updated, and now there are two exams instead of four. However, there is an additional charge if you retake the exam. The application fee to enroll in the PRM Program is $150.
To receive the certification, candidates must complete the PRM Designation program within three years of initial enrollment, and pass all required exams within a two-year period.
There is a 36-month enrollment period set to allow candidates 9-12 months of study before the exams are attempted.
The PRM enrollment period begins the day you submit your successful PRM application.
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