FRM Eligibility Criteria 2024 - Age, Qualification, Work Experience
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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