All About PRM Exam I
The Professional Risk Manager (PRM) exam is a popular and globally-recognized certification for risk managers and others in the risk management field.
Once you complete your PRM certification, you become a Professional Risk Manager, and can officially use the PRM designation.
To earn your PRM designation, you need to pass the following four exams:
- Exam I: Finance Theory, Financial Instruments and Markets
- Exam II: Mathematical Foundations of Risk Measurement
- Exam III: Risk Management Practices
- Exam IV: Case Studies, PRMIA Standards of Best Practice, Conduct and Ethics, Bylaws
In this article, our focus will be on the PRM Exam I.
PRM Exam I, as the name suggests is the first exam in the series of four exams. The broad topic areas covered in this exam are: Finance Theory, Financial Instruments, and Financial Markets.
Exam Format
The PRM Level I exam is a multiple-choice exam. There are total 36 questions to be answered in 2 hours time.
This is an online exam that can be taken in more than 4,000 secure and convenient testing centers in over 160 countries. The exam’s global reach is one of the key reasons for its popularity. PRMIA has a tie-up with Pearson Vue that has testing centers around the world. The student just needs to find a testing center in their nearby locality, and register for the exam.
Exam Dates
Since it’s an online exam and can be taken at any test center, there is no fixed exam date. You can register and take the exam on any business day of the year. The results are usually made available to you within 15 days of taking the exam.
PRM Exam I Waiver
PRIMA also gives credit for many other degrees and certifications. So, if you have any of the following degrees you don’t have to write PRM Exam 1, and you can straight away write the next exam.
- CFA Charter Holders
- CIIA, CEFA Charter Holders
- CQF Holders
- Actuarial Fellows
- CSI Financial Risk Management Graduates
- CAIA Members
PRM Exam 1 Curriculum
The PRM Exam 1 curriculum revolves around three broad areas: