@derivatives It'll cost you $50 for registration and if you belong to a low income country then you will get a 25% discount on every exam which costs $195 without the discount. To avail the discount you need to be a registered member i.e. you have to pay the $50 to get the discount on all the exams. Once you register, you are a member for one year and if you complete all the 4 exams within that period then you don't have to register again else you need to register again for another year to avail the discount on the exams you will be writing in the second year.
Are there any materials for practicing questions? Do Om, Laxmi or Mahakali book/xerox centres offer any test banks towards PRM I,II,III & IV?
@the_funtom No...they don't offer question banks. You have to buy the questions from riskprep or one of the sites mentioned in this conversation. Jus go to the previous one or two pages and ull find them.
@srujan90 said:@the_funtom No...they don't offer question banks. You have to buy the questions from riskprep or one of the sites mentioned in this conversation. Jus go to the previous one or two pages and ull find them.
Thanks a ton Srujan...I earlier wanted to take the FRM but can't afford the wait....so PRM it is! All I was wondering was how'd I practice and you've just answered that. Made my decision a lot more easier.....why dint I wander thru these forums earlier????? :)
@the_funtom 😁 ....glad I could be of help....jus read thru this entire post frm page 1....ull get all ur answers....
Any one from Chennai preparing for PRM exam...Seeking possibilities of forming a study group
Dear all,
I have purchased PRM exam material from OM copy center in Mumbai. Received book materials....I am planning to start from Exam 1. Any one preparing for exam 1 here ? it would be more helpful if some one can share, how to start studying for PRM exam 1. I am scared the moment i opened the chapter 1 - risk and risk aversion...so many formulas are there..Mean variance criteria...RAPM etc....Should i remember all these formulas or should i try to understand how these formulas have arrived ???
Looking forward for some help from members who have cleard PRM exam 1
Thanks
Arun
@arunrajes Try and understand how these formulae are arrived. See, PRM is all about understanding the formulae conceptually. There's no use of mugging up. So spend sometime in really understanding what going on. And why did they have to come up so many Risk measures. What were the previous measures lacking which the new ones made up for etc etc.
Hope this helps :)
Hope this helps :)
@srujan90 Thank you so much for clarifying..Ok I ll try to understand the arrival of formula's to the maximum extent i can...I hope you ll be able to help me out if there are some formula's which are far beyond my understanding levels. Soon you can expect me to post some question from each particular page of the exam material... :)
Thanks
Dear all,
Anyone preparing for Paper I of PRM ?? Please let me know...
Thanks
Arun
Hey Guys,
I just wanted to inform everyone that PRMIA has increased its registration fees for Low Income Countries from $50 to $150. This has been done as they are trying to update the syllabus and meet other expenses incurred. Once any candidate from Low Income Countries like India pays this $150, he or she will receive a 25% discount on the exams whose fees are still the same for now.
The cost per exam will come upto $146.25 after the 25% discount.
All the best for your exams!
Take Care
@arunrajes
ya sure....ill try n help you wid it in case you hv a doubt
Hi Arun,
I'm planning to enroll for PRM in a week and planning to take each exam at a time. Just have few questions before enrollment. It will be great if you could answer the following questions:
1: Are the PRM handbooks of all levels sufficient to give the exams? Do they also provide the mock test paper for all the levels with handbook?
2: It will be greatful of you, if you Could send the handbooks at the email id: rishabhshank@gmail.com?
Rishabh Jain
Cleared Exam IV I'm now a PRMIA certified Professional Risk Manager
I cleared the third paper too :). I chose PRM becoz i don't have work ex.....i'm a fresher and FRM requires u to hv 2 yrs work ex.....ie. they will give u the designation only after u give them a proof of ur work ex.......PRM is easier to write...you can write it on any business day of the year and FRM is conducted only twice a year so that creates a big problem in case you didn't finish preparing.....PRM is cheaper and also you don't have to pay them every year like in FRM to use ur designation......FRM has become profit making organisation and that is why they are charging so much.......FRM is purely risk and also if you read the FRM Handbook u will go mad.....its written in a horrible manner.....PRM covers alot of finance in the first paper which is really gud if you aren't a finance student like me......and also the PRM handbook is extremely well written.....u might just need to refer some topics on the net or texts but otherwise you can just read the handbook and practice questions on Riskprep.com n pass your exams.......For a quant analyst position.....as far as i know PRM & CFA should be perfect......I'm planning to CFA level 1 myself this december.....i feel PRM is more user friendly and also well organised and cheaper......dats the why i chose PRM.....The pros for FRM is that it is very well recognised......about 10 years back.....ICICI Bank had made it compulsory for all its Treasury Department people to clear FRM....hence its widely accepted in the Risk Management Industry......Whereas PRM is not so known.....especially in India its not so widely known......so in terms of Job perspective....you can say that FRM has an edge.....but in terms of learning and everything else I would say PRM has an edge because I have gone thru both their syllabuses and handbooks thoroughly....So its up to you......there are a lot of sites where people have given opinions on FRM vs PRM......so you can read them and make a decision...... 😃
Hi,
I'm planning to enroll for PRM in a week and planning to take each exam at a time. Just have few questions before enrollment. It will be great if you could answer the following questions:
1: Are the PRM handbooks of all levels sufficient to give the exams? Do they also provide the mock test paper for all the levels with handbook?
2: It will be greatful of you, if you Could send the handbooks at the email id: [email protected]?
Rishabh Jain
Hi All - I am planning to take PRM Exam 1 and 2. I was looking for the practice test for the same. Would appreciate if any one from the group can share the question bank for exam 1 and 2. My email id is prof_cource@yahoo.com. Thanks.
Hello,
I have started preparing for PRM Exam III. Can someone suggest me reference material / book for Exam III....
Is anyone preparing for Exam III ????
@geethanjali
Hi,
PRM is a Risk Management Certification. Please do not do it in case all you want is a job. PRM isn't very well recognized in India. Rather, you should try and do FRM which is also a Risk Management Certification but is well recognized in the Indian Industry. You can't expect yourself to get a job based purely on these certifications. They need to be backed by Degrees and relevant work experience. Pay scale is something which entirely depends on your resume and the kind of degrees you have done and from which college etc.
Most of us are doing PRM as complementary course to MBA and other certifications we are pursuing. It is just an add on and a way to improve our knowledge in the Financial Domain. Both PRM & FRM are pretty Finance Intensive Certifications and they require some basic Finance Knowledge to complete them successfully.
Hope this helps. 😃
Hi,
PRM is a Risk Management Certification. Please do not do it in case all you want is a job. PRM isn't very well recognized in India. Rather, you should try and do FRM which is also a Risk Management Certification but is well recognized in the Indian Industry. You can't expect yourself to get a job based purely on these certifications. They need to be backed by Degrees and relevant work experience. Pay scale is something which entirely depends on your resume and the kind of degrees you have done and from which college etc.
Most of us are doing PRM as complementary course to MBA and other certifications we are pursuing. It is just an add on and a way to improve our knowledge in the Financial Domain. Both PRM & FRM are pretty Finance Intensive Certifications and they require some basic Finance Knowledge to complete them successfully.
Hope this helps. 😃
Dear All,
We have recently launched a Facebook page named "FRM Buddy".We are professionals with experience of training hundreds of FRM exam takers both in class and over webinar.To begin with we have started with 'Question of the day' feature and tips for FRM/PRM preparation.As members join, they can also use the page as a discussion forum and post their questions and difficulties, which we will answer for the benefit of all.Other members can also participate and answer questions posted on the page.
Right now, we are devoting our efforts for only FRM-I, PRM-I, PRM-II and PRM-IV. Do visit the page.Let us work together and crack FRM.Please visit
Cheers
GKRM
Hey Guys,
There have been a lot of changes as far PRM Exams and eligibility for taking the exams is concerned.
PRMIA's Board of Directors has approved three strategic changes to the PRM designation, specially aimed at enriching the quality and standing of this certification in the risk management market. This in turn will benefit its candidates and designation holders.
1. Exam Frequency - PRMIA will discontinue on-demand exam taking and will offer exams at fixed intervals throughout the year.
2. Exam Bundling - The PRM Handbook will now be sold as a 'bundle' with 4 exam vouchers.
3. Experience Requirements - PRM holders will only be validated with the attainment of a minimum level of either education or work experience.
Exam Frequency:
PRMIA's new testing approach will begin in January 2014; thus, the last date for “On Demand” testing will be December 31, 2013.
This new structure will advance PRMIA's capability to continuously update its curriculum, thus keeping its exams current, which is essential given the ever-evolving nature of the risk management industry.
We can offer this examination approach to our candidates, while still maintaining a high degree of flexibility in comparison to our peers by allowing 4 testing windows a year, each spanning over 3 weeks as opposed to an approach such as a single testing day spaced six months apart.
Exam periods will be:
• February – March (3 week test window)
• May – June (3 week test window)
• August – September (3 week test window)
• November – December (3 week test window)
To ensure convenience, testing will continue to be available in more than 165 countries in nearly 5,000 locations.
Exam Bundling:
In a rapidly changing world of risk management, the use of outdated textbooks ranks high among our concerns. To discontinue the use of obsolete material and encourage candidates to follow the most up-to-date information, PRMIA will start selling the PRM Exam as a bundle. Each bundle will contain 4 exam vouchers, which can be used with any of the 4 PRM Exams and a complete set of the Professional Risk Managers' Handbook (PRM™ Handbook). This will ensure that our candidates are constantly educated with the most pioneering study materials available in the field and will eliminate the need to constantly change the PRM Vouchers.
Voucher bundle options will include:
• 4 Exam Vouchers & PRM Handbook Digital Version
• 4 Exam Vouchers & PRM Handbook Print Version
• 4 Exam Vouchers & PRM Handbook Digital & Print Versions
Experience Requirements:
The reason for the PRM requiring some previous experience of related work is that candidates can apply their experience to the theoretical concepts they meet in their study. Also, it allows the PRM to be seen as a qualification that is held by experienced risk management practitioners. This will be an attraction to new PRM candidates and a benefit to PRM holders.
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.)
Please visit the official site (http://www.prmia.org/prm-exam/exam-changes) for more information.
Also, for those who would like to compare FRM & PRM please visit the following link.
The current environment requires many people working in financial services to have a good understanding for various components of risk management (e.g. operational risk, credit risk, market risk, etc,). Risk management associations are a great venue for acquiring this knowledge.