FRM Registration and Payment Details

While the FRM is a US-based institute, many students have concerns about the large transaction amounts, especially when using credit cards. In the past, some candidates, including the author, had to rely on a family member's credit card to make payments. If you don't have a credit card, the author even helped 50-60 students by facilitating their transactions through the bank.

Registration Requirements

Passport or Driving License (Passport preferred, as it is required for the image and is more universally accepted across countries)
The passport must be valid at the time of registration and the exam
If you don't have a passport, you can register with a driving license (ensure it is renewed if it's about to expire)
The name in your passport must match the details provided during registration. Any discrepancies (such as adding “junior” or “senior”) may cause you to be unable to sit for the exam
If you have any further questions, you can contact GARP Institute via email at memberservices@garp.com

Payment Methods

Credit card (Preferred option)
Wire transfer (more expensive due to higher charges)

Credit cards are the more preferred option for payment, though wire transfers can also be used. Keep in mind that there will be GST assessed on the foreign currency service charge. If your credit card limit does not meet the required amount, you can extend the limit by making prepayments on a monthly basis. Note that exchange rates from the bank may be slightly higher.

Fee Structure

One-time enrollment fee: USD 400
Early Bird registration fee: USD 600
Standard registration fee: USD 800

It is advisable to make payment during the Early Bird registration period, as the fee is lower. Be cautious during registration, as there is an option for a membership fee that will automatically charge you every year if selected. Uncheck this box if you do not want this charge.

Eligibility and Materials

No specific eligibility criteria are required to sit for the FRM exam, meaning you can register after completing your 12th exam
Answer your registration questions carefully, as any mistakes could cost you valuable time later
Study materials are available in digital format, which is sufficient for preparation. Printed copies are available, but they can be expensive. You will primarily study with Schweser materials
Regarding scholarships, the institute offers limited opportunities. However, GARP does have certain ties with universities and academic programs, and you can contact them for more details

Deferral and Exam Logistics

Deferral: Candidates can defer their exam registration to the next two available exam windows by paying an administrative fee of USD 250
Exam logistics are handled by PSI (computer-based exam system)
It is recommended to register 5-7 days in advance, but earlier registration is always preferred to secure your spot

Charter and Experience Requirements

To earn the FRM charter, you must have at least two years of professional experience in risk management. Once you earn the designation, you can use it alongside your name as a professional credential.

Financial Risk Manager

Part 1

Part 2

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