FRM PROGRAM
The FRM Certificate has been adopted by companies as a benchmark to ensure their risk management employees are well versed in the latest financial risk concepts. The Certificate identifies risk professionals that are qualified to provide competent advice based on globally accepted industry standards and who are committed to personal professional development development and ensures that they possess the body of knowledge necessary for independent risk management analysis and decision making.
In response to the financial crisis that hit the globe and the changes occurring in the global markets, the FRM has evolved to reflect the emerging risk issues and the growing complexities associated with the profession of financial risk management. The Global Association of Risk Professionals’ (GARP) FRM committee has recognized that by altering the global financial system the financial crisis has placed a bigger and more prominent role on the financial risk professional. While the industry is in the phase of repositioning itself, the risk professionals face an urge to equip themselves with the skills needed to rise to these new challenges.
As such, the FRM program and syllabus have been expanded to ensure that the program satisfies the rising demand for skills for a successful professional financial risk manager.

 

Benefits derived from preparing for the FRM Exam

By holding the FRM certificate, you will.

  • Be recognized by your peers and employers as an expert in financial risk management.
  • Expand your career path .
  • Differentiate yourself among your peers.
  • Enhance and update your skill on globally accepted industry practices.
  • Upgrade your knowledge in financial risk management and its major disciplines of Market Risk, Credit Risk, Operational Risk, and Risk Management in Investment Management and be well acquainted with the Basle II requirements.
  • Show your commitment to professional development.

FRM Highlights

  • The FRM Certificate has been adopted by companies as a benchmark to ensure their risk management employees are well versed in the latest financial risk concepts.

  • Since 1997 more than 6,500 individuals have successfully completed the FRM Certification program, representing 3,000 plus companies globally.

  • 185 companies were represented by 5 or more 2004 FRM candidates, including the world's largest banks, consulting firms, securities & brokerage firms and academic institutions.

  • Historical pass rate is 51.8%.

  BASLE II and FRM

Basel II will be adopted by the end of June 2004, with implementation to take effect in Lebanon by year-end 2006, according to the Bank for International Settlements (BIS). The Basel committee developed more risk-sensitive standardized and internal measurement approaches to capital adequacy. The new framework is intended to align capital adequacy assessment more closely with the key elements of banking risks and to provide incentives for banks to enhance their risk measurement and management capabilities.

The primary changes to the minimum capital requirements set out in the 1988 Accord are in the approach to Credit Risk and in the inclusion of explicit capital requirements for Operational Risk . A range of risk-sensitive options for addressing both types of risk is elaborated. For credit risk, this range begins with the standardized approach and extends to the “foundation” and “advanced” internal ratings-based (IRB) approaches. A similar structure is envisaged for operational risk. These evolutionary approaches will motivate banks to continuously improve their risk management and measurement capabilities.

In an increasingly complex and interdependent world of financial markets and products, only those organizations which are able to effectively manage and control their risks will have the ability to succeed. The Financial Risk Manager (FRM®) certification ensures that an individual possesses the body of knowledge necessary for independent risk management analysis and decision making.

The FRM® examination is designed to test for a mixture of basic analytical skills, general knowledge and intuitive capability acquired through experience in capital markets. Notwithstanding all the sophisticated models currently used by organizations to manage risk, it is most often the simple "rule of thumb" techniques that allow successful risk managers to quickly assess and control risk, as well as test the assumptions and results of the models. It is these practical techniques that will be emphasized on the FRM® examination. In addition, the individual will be tested on the general risks of various markets and financial instruments, regulation, and credit risk concepts.

The BASLE Committee has been examining the capital treatment of credit risk mitigation techniques, including collateral, guarantees and credit derivatives, and netting. The consultation process has confirmed the view that improved risk sensitivity in minimum capital requirements with respect to greater recognition of such techniques can provide positive incentives to banks to improve risk measurement and management. The FRM curriculum encompasses some of the most sophisticated techniques of mitigating credit risk.

The FRM® examination is administered by the Global Association of Risk Professionals (GARP®). The FRM exam is based on the core body of knowledge that contains the following topics:

Quantitative Analysis (10%)

Market Risk Measurement and Management (25%)

Credit Risk Measurement and Management (30%)

Operational Risk Management and Legal, Accounting, and Ethics (25%)

Risk Management and Investment Management (10%)

Registration and Enrollment Procedure

Please fill in the registration form and fax it to IFA 961 1 346550. The registration form can be downloaded from IFA's website: www.instffa.com To register you must return the signed registration form by 15 May 2004 for the full course cycle (parts 1 and 2) and by 30 September 2004 for the three-week review part (part 2).

Class size will be restricted to a maximum of 25 students. The course management retains the right to decide whether the course will take place after the registration period has expired. Registrations will be accepted in the order of receipt and will be acknowledged in writing.

Important: In order to take the FRM exam, candidates need to enroll directly with GARP in New York/USA. The enrollment form can be downloaded at www.garp.com. Make sure that the completed form is mailed to GARP before their registration deadline expires.

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   TRAINING REQUIRMENTS

2005 FRM Exam Preparation Course

The Institute for Financial Analysts(IFA) specializes in providing preparation courses for international exams such as FRM (Financial Risk Manager) and CFA (Chartered Financial Analyst). The IFA preparation course for the 2005 FRM is structured according to the outline for the 2005 FRM exam. The course teaches the most complex and frequently asked concepts and gives a framework to structure the exam preparation.

 
   FEES 

The course fee for the FRM Level I course amounts to $2000. The entire course fee is payable at the beginning of the course.No Refunds will be made.

   GARP Required Disclaimer

GARP® does not endorse, promote, review or warrant the accuracy of the products or services offered by the Institute For Financial Analysts (IFA) or FRM® related information, nor does it endorse any pass rates claimed by the provider. Further, GARP® is not responsible for any fees or costs paid by the user to IFA nor is GARP responsible for any fees or costs of any person or entity providing any services to IFA. FRM® , GARP® and Global Association of Risk Professionals® are trademarks owned by the Global Association of Risk Professionals, Inc.


GARP® Introduces A New Expanded FRM® Program

Starting in the May 2010 exam window, the FRM® Exam will transition into a two-level format. Both Level 1 and Level 2 will be available semi-annually, in May and November. You must pass Level 1 before attempting Level 2 and the exams cannot be taken in the same exam window. To prepare candidates to pass the FRM Exam
Registration Fees for the FRM Exam (Level I & II) on May 22, 2010


Payment deadlines

Program enrollment
(new candidates only)

+

Exam registration*

=

Total cost

31 Jan 2010:

$300

+

$350

=

$650

28 Feb 2010:

$300

+

$475

=

$775

15 April 2010:

$300

+

$650

=

$950

*Candidates Registering for FRM Part II exam and the Returning Candidates pay only the Exam Registration Fee.
** If you are a returning 2009 FRM Exam Full candidate you will be charged an additional USD 150 for the Part I Enrollment Fee.
*** The enrollment fee is a fee for participating in the FRM Program.  This fee automatically entitles you to a complimentary one year GARP Individual Membership (a USD 150 value) which includes a one year subscription to the RISK Professional magazine (a USD 150 value), GARP publication, in addition to other benefits of GARP Individual membership..

New Exam Format Details

LEVEL 1

  • 100 multiple choice
  • 4-hours total; 2-hour sessions; 90-minute break
  • 150-200 hours of recommended study
  • Topics include:
    • Foundations of Risk Management
    • Quantitative Analysis
    • Financial Markets and Products
    • Valuation and Risk Models

LEVEL 2

  • 80 multiple choice
  • 4-hours total; 2-hour sessions; 90-minute break
  • 150-200 hours of recommended study
  • Topics include:
    • Market Risk Measurement and Management
    • Credit Risk Measurement and Management
    • Operational and Integrated Risk Management
    • Risk Management and Investment Management
    • Current Issues in Financial Markets
  1. Middle East Test Centers

S.No.

Country

Site Name

1

Bahrain

Bahrain, Manama

2

Jordan

Jordan, Amman

3

Kuwait

Kuwait, Safat

4

Lebanon

Lebanon, Beirut

5

Oman

Oman, Muscat

6

Saudi Arabia

Saudi Arabia, Riyadh

7

United Arab Emirates

United Arab Emirates, Dubai

**Calculator Policy

Only the following types of business calculators are authorized for use on the FRM exam in 2010.  There will be no exceptions to this policy.  Should you use a non-authorized calculator at any time during the exam, your answer sheets will not be graded.
1-Hewlett Packard 12C (including the HP 12C Platinum)
2-Texas Instruments BA II Plus (including the BA II plus Professional):
3-Hewlett Packard 10B II or Hewlett Packard 20B

 

Under Basel II & FRM at the end under the below paragraph, please remove what is mentioned and add the below stated FRM-Part I Exam Weight…
“The FRM® examination is administered by the Global Association of Risk Professionals (GARP®). The FRM exam is based on the core body of knowledge that contains the following topics: “

FRM— Part I Exam Weight

  1. Foundations of Risk Management ------------%20
  2. Quantitative Analysis Part I Exam ------------20%
  3. Financial Markets and Products Part I Exam -----30%
  4. Valuation and Risk Models Part I Exam------%30

 

FRM— Part II Exam Weight

  1. Market Risk Measurement and Management........................................ 25%
  2. Credit Risk Measurement and Management....................................... 25%
  3. Operational and Integrated Risk Management.................................. 25%
  4. Risk Management and Investment Management ............................... 15%
  5. Current Issues in Financial Markets.................................................... 10%

 

Please remove training requirements and place instead
Why engage IFA?
The institute for financial analysts (IFA) is now offering review courses for the Financial Risk Manager (FRM®) Level I Certification Program in Beirut, Kuwait, Egypt and UAE.  The Institute is specialized in preparatory courses and seminars for professional designations, famous for its unsurpassed success in its review courses for the CFA®, CVA® programs. 
The IFA preparation course for the 2010 FRM is structured according to the outline for the 2010 FRM exam. The course teaches the most complex and frequently asked concepts and gives a framework to structure the exam preparation.  IFA is a regional distributor for Schweser Material.
IFA has developed a learning approach that helps candidates digest the breadth and complexity of the material over a three month period. The course tackles the knowledge required to pass the exam and the critical exam topics by reviewing old exam questions.  Classes are live classes, combine lecturing, problem solving and addressing exam tricks.

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