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FRM Eligibility Criteria 2024 - Age, Qualification, Work Experience

FRM Eligibility Criteria 2024 - Age, Qualification, Work Experience

Edited By Sansar Singh Chhikara | Updated on Sep 23, 2024 04:18 PM IST

FRM Eligibility Criteria 2024: The Global Association of Risk Professionals (GARP) has specified the FRM course requirements 2024. The FRM eligibility criteria comprise the conditions that candidates need to fulfil to get the FRM certification. According to FRM eligibility 2024, anyone can take the FRM exam, a student who is currently a graduate or even a student who holds a postgraduate degree in Finance. However, there are some FRM course requirements 2024 to get the FRM certification. In this article, we will dig deep into FRM eligibility requirements 2024, educational qualifications, work experience etc.

FRM Course Overview 2024

Particulars

Details

Name

Financial Risk Manager

Abbreviation

FRM

Governing body

Global Association of Risk Professionals (GARP)

Exam type

International certification

Test centre administration

GARP

Number of exams

2 (Part I, Part II)

Exam duration

4 hours (each)

Number of questions

Part I - 100 questions

Part II - 80 questions

Question type

Multiple-choice (MCQs)

Certification validity

2 years


FRM Course Eligibility Criteria 2024

There is no specified eligibility criteria to take the FRM Level 1 and Level 2 exams. Candidates who are currently pursuing their graduation are also eligible to take the exam. GARP has specified the FRM course eligibility through its official website. The eligibility criteria to get FRM certification has been given below:

  • Candidates must take the FRM Level 1 exam. There are no specified educational qualifications to take the Level 1 exam.

  • Candidates who have passed the FRM Level 1 exam. The FRM Level 2 exam must be completed within 4 years from the date of passing the FRM Level 1 exam.

  • Once candidates pass the FRM Level 2 exam, they must also obtain two years full-time relevant financial risk management work experience.

FRM Certification Work Experience Requirements

Candidates have a time period of five years to submit two years full-time relevant financial risk management work experience after passing the FRM Level 2 exam. Candidates who have 10 years of work experience before enrolling for the FRM exam are also eligible for certification. Candidates must note that in case they fail to get two years work experience within the specified timeframe, they must re-enroll for the FRM Level 1 exam, pay all the application fee, retake both the exams and again obtain work experience to get the FRM certification.

You may also check: FRM Salary in India

FRM Passing Criteria 2024

The GARP has not specified any specific passing criteria for the FRM Level 1 or Level 2 exams. Candidates are sent their scores over email consisting of the pass/fail status. The FRM exam aims at providing candidates all the necessary knowledge as competent finance professionals rather than a specific score. The FRM passing criteria is defined according to the difficulty level of the exam. The FRM difficulty level varies from one session to the next. However, students can take help of the FRM passing score estimate 2024 to get an idea about the number of questions they need to get right to pass the exam:

FRM Course Passing Estimate 2024

Level

Number of Correct Questions

FRM Level 1

50-60 out of 100 or a score of 65% +

FRM Level 2

48+ out of 80

FRM Exam Passing Percentage

May 2010

November 2010

53%

39%

54%

55%

May 2011

November 2011

53%

47%

62%

57%

May 2012

November 2012

47%

47%

61%

56%

May 2013

November 2013

46%

51%

57%

58%

May 2014

November 2014

42%

49%

58%

59%

May 2015

November 2015

43%

49%

52%

62%

May 2016

November 2016

45%

45%

50%

54%

May 2017

November 2017

42%

42%

54%

52%

May 2018

November 2018

41%

50%

53%

56%

May 2019

November 2019

42%

46%

60%

59%

October 2020

November 2020

44%

45%

62%

59%

May 2021

November 2021

47%

45%

59%

63%

May/Aug 2022

November 2022

51%

50%

57%

59%

May/Aug 2023

November 2023


47%

45%

51%

53%

May/August 2024

56%

52%

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