Financial Risk and Regulation (FRR®) course by GARP
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Chapter Wise Questions for Full course
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Total 2500+ Questions
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3 Mock Papers
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Solution Provided for all Questions
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9 month Access to the package
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Exam Level Difficulty for the quiz
Frequently Asked Question -FRR® Exam
The Financial Risk and Regulation (FRR®) program is an excellent opportunity for mid-level finance professionals who are looking to gain a comprehensive understanding of financial risks and their impact on financial institutions and systems within the global financial infrastructure.
The Financial Risk and Regulation (FRR®) program is a comprehensive self-study course designed to provide mid-level finance professionals with a deep understanding of financial risks and their impact on financial institutions and systems within the global financial infrastructure.
Here are the topics covered in the FRR® program:
- Credit Risk Management: This module covers the fundamental concepts of credit risk management, including credit analysis, credit scoring, loan portfolio management, and the use of credit derivatives.
- Market Risk Management: This module provides an overview of market risk management, including the measurement and management of interest rate risk, foreign exchange risk, equity risk, and commodity risk.
- Operational Risk Management: This module covers the management of operational risk, including the identification, assessment, and control of operational risks, as well as the implementation of risk mitigation strategies.
- Asset and Liability Management: This module provides an understanding of asset and liability management, including the measurement and management of liquidity risk, interest rate risk, and other balance sheet risks.
In addition to these four modules, the FRR program also includes real-world examples and case studies to illustrate how the concepts covered in the course apply to situations in the workplace.
If you are considering pursuing a career in financial risk and regulation, you may be interested in the Financial Risk and Regulation (FRR®) program. This program is designed to equip you with the skills and knowledge necessary to navigate the complex world of financial risk management and regulatory compliance. One of the most important aspects of this program is the format of the FRR® exam, which is essential to understand if you want to prepare effectively for this challenging test.
Format of the FRR® program: The FRR® exam is an electronic exam consisting of 80 multiple-choice questions that must be completed in 175 minutes. It is important to note that the questions will be presented randomly and not by category, such as Market Risk or Credit Risk. The exam results will be provided immediately upon completion by clicking on the results button.
Cost of the FRR® Program: The cost of the FRR® program varies depending on your membership status. For 2023, the cost of the program for non-members was $450, while the cost for members was $350. In other countries, the cost may vary, and you can check the Global Association of Risk Professionals (GARP) website for the latest fees.
If you fail the FRR® program exam, you will have to retake the exam. Here are some things you need to know about retaking the exam:
- Waiting period: You will have to wait for 30 days before retaking the exam. This timeline cannot be expedited, even if it falls outside your nine-month window.
- Additional cost: A second attempt will incur an additional cost of US $175. If you fail both times or do not take the exam within the nine-month registration period, you must re-register and pay another full registration fee.
- Registration period: If you fail fewer than 30 days before the expiration of your nine-month exam period, you will be required to register as a new candidate. For this reason, it’s recommended that you sit for the exam at least two months before the end of your window.
Benefits of Earning the FRR® Program Credential: The FRR® program offers numerous benefits to finance professionals, including:
- Comprehensive understanding of financial risk: The FRR® program provides a comprehensive understanding of credit risk, market risk, operational risk, and asset and liability management. This knowledge can help finance professionals identify, assess, and mitigate risks in the workplace.
- Globally recognized certification: The FRR® program is globally recognized, and candidates who successfully complete the program earn an official GARP-issued certificate. This certification can enhance your career prospects in the finance industry and increase your credibility with clients and employers.
- Flexibility: The self-study format of the FRR® program allows you to learn on your own schedule. You can study at your own pace or organize a study group with friends or colleagues.
- Real-world examples: The FRR® program includes real-world examples and case studies that illustrate how the course pertains directly to situations in the workplace. This practical approach can help you better understand and apply the course materials.
- Preferred pricing: Special pricing is available for CAIIB and JAIIB holders and GARP Members, making the program more affordable for eligible candidates.
- Authority: The FRR® program was developed and reviewed by risk experts and practitioners to reflect current international standards. This ensures that the course materials are up-to-date and relevant to the finance industry.
The passing score for the FRR® program exam is 67.5%, which translates to 54 correct answers out of 80 multiple-choice questions. It is important to note that questions will be presented randomly and not by category, which means you need to have a good understanding of all the topics covered in the exam.
If you fail the FRR® program exam, the good news is that you can retake it. However, there are a few things you need to keep in mind:
- Limited retake attempts: You will have a maximum of two attempts to pass the exam within a nine-month registration period. If you fail both times, you will have to re-register and pay another full registration fee.
- Cost of retake: If you decide to retake the exam, you will need to pay an additional fee of US $175 for the second attempt.
- Waiting period: If you fail the exam, you will need to wait for 30 days before you can retake it. This timeline cannot be expedited, even if it falls outside your nine-month registration period.
- Registration period: It is important to note that if you fail the exam fewer than 30 days before the expiration of your nine-month registration period, you will need to register as a new candidate. This means that you will need to pay another full registration fee.
- Recommended review period: To increase your chances of passing the exam, we recommend that you spend at least two months reviewing the materials before sitting for the examination, especially if you have little industry experience or are not well-versed in banking risk-related issues.
The FRR® program is designed for individuals who work in or are interested in working in the financial industry, particularly in risk management or regulatory compliance roles. The program is suitable for individuals at various stages of their careers, from entry-level positions to senior management roles.
The FRR® program is particularly well-suited for individuals who:
- Work in financial risk management or regulatory compliance roles.
- Have a background in finance, economics, accounting, or related fields.
- Are interested in expanding their knowledge and expertise in financial regulations and risk management practices.
- Are seeking to enhance their career prospects in the financial industry.
Personal Example: I have a friend who works as a risk manager at a financial institution in India. He completed the FRR® program to enhance his knowledge and expertise in financial risk management and regulatory compliance. He found the program to be highly beneficial in his work and credits it for helping him advance his career.
Yes, GARP provides study materials for the FRR® program, including eBooks and hard copies of textbooks. When you register for the program, you will automatically gain access to the Financial Risk and Regulation eBooks. Hard copies of the books are optional. If you prefer to study with hard copies, you can select the box for print books on the registration page. Please note that there is an additional shipping cost for hard copies of the books.
Suggestions:
- Use Study Materials: Use study materials provided by GARP to prepare for the FRR® program. These materials include eBooks and hard copies of textbooks, which cover the same material.
- Focus on the Exam Content: The FRR® program covers a range of topics related to financial risk management and regulatory compliance. Focus your study efforts on the exam content and identify the areas where you need to focus your study efforts.
- Use Practice Exams: Use practice exams to test your knowledge and identify areas where you need to improve. The FRR® program includes a practice exam that can help you prepare for the actual exam.
- Training Provider Material: You can refer the external training firms which provide material on the exam Preparation Like Fintelligents.They provide around 3000+ Questions for the Exam with Mock Papers.
The FRR® program exam is administered by Pearson VUE, a global leader in computer-based testing. To ensure a fair and secure testing environment, Pearson VUE has certain exam day requirements that all candidates must follow. These requirements include:
Exam Day Requirements:
- Personal Possessions: Personal possessions, including calculators, cell phones, smart phones, pens, papers, or books of any kind, are not permitted in the exam room. Pearson VUE will provide the required items at the test center.
- Valid ID: You must bring a valid passport and/or government-issued photo ID to sit for the exam. Those who do not provide valid identification will be refused entry. Pearson VUE’s identification policy will be strictly enforced, and all candidates must comply with test center rules.
Preparing for the Exam: Here are some tips and strategies for preparing for the FRR® program exam:
Develop a Study Plan:
- Create a study schedule that allows you to cover all the material in a reasonable amount of time.
- Determine your strengths and weaknesses, and allocate more time to topics that you find challenging.
- Use a variety of study materials, such as textbooks, online resources, and practice exams.
Focus on the Key Concepts:
- Make sure you have a solid understanding of the key concepts and principles covered in each section of the exam.
- Practice applying these concepts to real-world scenarios, so you can demonstrate your ability to apply them in a practical setting.
Use Practice Exams:
- Practice exams can be a valuable tool for identifying areas where you need to improve.
- Try to take practice exams under conditions similar to the actual exam, such as in a quiet environment with a time limit.
Network with Peers:
- Reach out to colleagues or other professionals who have taken the FRR® program exam and ask for their advice and tips.
- Join professional organizations or forums related to financial risk and regulation to stay up to date on the latest developments and best practices.
As someone who has earned the FRR® credential, you are entitled to use the designation after your name. This is a great way to showcase your expertise in financial risk management and regulation to colleagues, clients, and potential employers.
For example, you can use the designation on your business card, email signature, or LinkedIn profile to demonstrate your knowledge and commitment to the field.
However, it is important to note that you must comply with GARP’s guidelines for using the designation. These guidelines are designed to ensure that the designation is used accurately and ethically, and to protect the value of the credential.
Guidelines for Using the FRR® Designation
Some of the guidelines for using the FRR® designation include:
- You must use the trademark symbol (®) after the designation to indicate that it is a registered trademark of GARP.
- You should only use the designation if you are in good standing with GARP and have met all of the requirements for earning the credential.
- You should not use the designation in a misleading or deceptive way, or in a way that suggests you are affiliated with GARP or that GARP endorses your products or services.
By following these guidelines, you can ensure that you use the FRR® designation ethically and effectively to promote your expertise in financial risk management and regulation.