PRMIA’s PRM and Associate PRM Exams
The Professional Risk Manager (PRM™) designation is the global standard for the world’s top financial risk professionals. Endorsed by leading businesses and leading graduate programs, it counts candidates from more than any other program for risk managers. The exam tests a candidate’s knowledge and understanding of the key building blocks essential to being a successful financial risk manager.
The Associate PRM is designed to be mathematically and theoretically less detailed than the PRM covering the core concepts of risk management, allowing non-specialists to interpret risk management information and reports, make critical assessments, and evaluate the implications and the limitations of such results. Passing the Associate PRM exam will demonstrate the essential knowledge necessary to understand and manage risks in any corporate or economic environment. The Associate PRM is also now available in Chinese. Visit the PRMIA website to view exam details in Chinese.
Programs & Study Materials
Discounted exam pricing is available to Sustaining Members of PRMIA. To claim this discount, you must register directly with PRMIA at www.PRMIA.org.
To support the PRM and the general advancement of the risk profession, PRMIA has developed a wide range of self-study materials, including online guides and the comprehensive Professional Risk Managers’ Handbook: A Comprehensive Guide to Current Theory and Best Practices. Prepared by leading scholars and risk experts, the PRM Handbook covers the full range of topics and disciplines essential to the practice of risk management and is the definitive resource for preparing for the PRM exam.
The Associate PRM
The syllabus of the Associate PRM exam is based upon the publicly available book, The Essentials of Risk Management, together with extensive information freely available on the PRMIA website. The Essentials of Risk Management provides a practical, non-ivory tower approach that is necessary to effectively implement a superior risk management program and is written by three of the leading figures with extensive practical and theoretical experience in the global risk management and corporate governance arena. The Associate PRM preparation materials and exam are available in English and Chinese.
Important Changes to the PRM Exam
For a complete list of changes and FAQ please visit: http://www.prmia.org/prm-exam/exam-changes
Beginning in January 2014, PRMIA will launch three changes to the PRM exam-taking process and requirements:
- Exam Frequency
Exams will be offered at fixed intervals throughout the year. On-demand exam taking will no longer be available.
Scheduling Window Testing Window January 1 – March 14 February 24 – March 14 March 15 – June 13 May 26 – June 13 June 14 – September 5 August 18 – September 5 September 6 – December 19 November 24 – December 19
- Exam Voucher Bundling
PRM exam vouchers will be sold as a bundle with the PRM Handbook; standalone vouchers will no longer be available. Exceptions apply for a period of time for existing candidates and members who have already purchased the PRM Handbook, see PRM Exam and PRM Handbook Bundling FAQ.
- 4 exam vouchers + digital PRM Handbook $1,100
- 4 exam vouchers + printed PRM Handbook $1,200*
- 4 exam vouchers + printed + digital PRM Handbook $1,250*
*plus shipping charges, which vary by geographic location
- Minimum Requirements
PRM holders will only be validated with the attainment of a minimum level of either education or work experience.
Minimum experience requirements:
- 4 Years if no bachelor degree
- 2 Years if bachelor degree
- No experience requirements if graduate school or holder of other accepted professional designations (CFA, CAIA, CQF, etc.)
Exam Calculator Update
The calculator is modeled after the Texas Instruments TI-30XS. If you wish to familiarize yourself with the way this calculator functions prior to your exam, please download the Pearson VUE tutorial and practice exam.
Once downloaded, begin the practice exam. On one of the items, you will see a calculator tab on the top left of the screen. Simply click on the tab. The calculator is displayed so you can practice using it.
For a complete list of features available on the TI-30XS, please refer to TI's Guidebook (290 KB PDF). When accessing the guidebook you may have to click “Continue as Guest” in order to view it.
First-time test takers must create a Pearson VUE web account. Appointments may be made up to one business day in advance.