Short-term finance courses or FRM certification is a way to demonstrate financial knowledge and professional skills, allowing you to compete with specialists working in the biggest multinational companies and institutions. GARP provide the FRM scholarship to applicant with the aim to provide an opportunity to sit for the FRM Exam regardless of their self-funding capacity. The FRM exam is open to anyone interested in becoming an FRM. The Global Association of Risk Professionals administers the FRM Exam, which consists of two tests (GARP). The exam will be held on two distinct days and on two different dates.
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The Financial Risk Manager, or FRM, is a globally recognised certification offered by the Global Association of Risk Professionals (GARP), which uses the FRM exam to identify potential candidates with specialised knowledge in assessing an organisation’s risk and developing various strategies and approaches to mitigate the impact. An FRM is responsible for identifying threats to the organisation’s assets and earning potential, in addition to projecting the amount of risk. Major banks, asset management businesses, accountancy firms, insurance companies, regulatory agencies, and other organisations employ Financial Risk Management professionals.
Highlights of FRM Scholarship
- The scholarship is only available for the FRM Part 1 exam, not the FRM Part 2 exam
- The exam registration fee is covered by FRM Scholarships, but not the enrollment fee
- The scholarship is awarded entirely on the basis of merit, and the FRM committee makes the final choice
- Undergraduate students are not eligible for the FRM Scholarships as they must be enrolled full-time in a graduate school at the time of the exam
- If a faculty member can demonstrate full-time employment, they are considered eligible
- At the time of the exam, students must be enrolled full-time in a graduate degree programme
- A scholarship is available to qualified students and faculty members once in their lives. This rule does not have any exceptions
Eligibility Criteria for FRM Scholarship
Enrollment in the FRM Program does not require any educational or professional prerequisites.
- It is open to all professionals working in risk management, investment, and finance; all can benefit from the FRM Program by expanding their expertise
- Individuals with non-risk backgrounds who want to make a career change can participate in the FRM Course to explore a wide range of growth prospects in the field of risk management
- FRM certification is for students who are still pursuing their post-graduate and have completed any graduation, such as B.Tech, MBA, or any financial degree, since it gives them the competence to handle and manage risks, investments, and money
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Application Process for FRM Scholarship
To avail FRM Scholarship, follow the given process:
- GARP begins taking scholarship applications for the May exam on November 1st and for the November exam on May 1st. The deadlines are February 28th and August 31st.
- Candidates must pay the enrollment and registration fees in order to be considered for the scholarships. If they are chosen for the scholarship, they will receive a refund for the exam registration expenses that are covered by the scholarship.
- Under no circumstances will applications be received after the deadlines are accepted.
- Only the cost of the exam registration fee is covered by scholarships.
- Scholarships are awarded on the basis of merit, and GARP reserves the right to make the ultimate choice.
Conclusion
If you are academically gifted or require funding for further education, applying for a scholarship may be the best option. A scholarship needs hard effort and thorough information on the scholarship’s features and requirements. Bring in motion your dream of achieving the Financial Risk Manager certification to assess an organisation’s risk and devise various plans and techniques to mitigate the impact. Looking for resources all over the internet can be a complex procedure. Reach out to LeapScholar for more details. Do not put off your application any longer; begin your adventure journey immediately.
Frequently Asked Questions
What is the cost of the FRM exam?
Both Part I and Part II of the FRM test have different fees. The one-time enrollment price is USD 400, with registration fees of USD 550 for Part I and USD 475 for Part II.
What are the career options available after clearing the FRM exam?
Candidates for the FRM title come from a range of backgrounds, including:
Banks
Banks that make investments
Asset management companies
CFA
Corporations are businesses (including non-financial corporations)
Companies that provide consulting services
Hedge funds are a type of mutual fund that invests
Insurance companies
Credit bureaus
Chartered Accountancy (UK and US)
Investment Management
Agencies of the government/regulatory bodies
Vendors of risk and technology
How to register for the FRM exam?
Go to the GARP website and fill out the registration form.
Choose an exam option.
Select the FRM Part 1 exam if you are just interested in taking it. Otherwise, choose FRM Parts 1 and 2 from the drop-down menu.
Please note that if you do not pass qualifying exam 2, you will not earn FRM certification.
Choose the examination dates that are most convenient for you.
Choose your nation and fill out the rest of the form.
As part of your enrollment, you will receive e-books to help you prepare. You can, however, purchase a hard copy if you prefer.
Choose all of the relevant criteria and pay your exam price.
The exam will be scheduled for you.
What is the format of the exam?
The FRM Exam Part I is a 100-question multiple-choice exam with an equal weighting, while the FRM Exam Part II is an 80-question multiple-choice exam with an equal weighting. Computer-based testing is used to administer both Exams (CBT).
What languages will I be able to take the exam in?
The exams are exclusively available in English. GARP recognises that not every candidate speaks American English as their first language. GARP makes every effort during the test creation process to ensure that questions are prepared in a clear, succinct manner that avoids the use of colloquialisms or other terms and phrases that can be confusing to a non-native English speaker.
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