PRMIA Offers Special Discounts for Members to Catch up on Risk Management Studies The past year has been one of turmoil for many of our members, cutting into the availability of time and budget for professional studies. As the quieter months of July and August approach, PRMIA has decided to help you catch up on your studying, reading and exam preparation by offering special discounts on its most popular educational products and offerings. From June 18 – July 31, Free members of PRMIA will receive a 15% discount, and Full Sustaining members will receive an additional 15% discount off of the already discounted prices they receive on: · PRM exam vouchers · Associate PRM certificate vouchers · Online courses · PRM Handbook series - Professional Risk Managers’ Guide to Finance Theory and Application - Professional Risk Managers’ Guide to Financial Instruments - Professional Risk Managers’ Guide to Financial Markets - Mathematical Foundations of Risk Measurement - Risk Management Practices Discounts will be automatically applied when you place your order on the PRMIA website at www.prmia.org.
If you hold the CFA, you only need to sit for 2 exams.
PRM is actually better than the FRM. However, FRM has the backing of Kaplan, so it is no wonder to see which has grown more popular in just the past two years.
FINfor LIL, Could you elaborate on “better”? And do you have an opinion how either compares to CERA? Thanks,
@paca06 - Unfortunately, I can’t expound on the usefulness of the PRM designation, but I can probably speak a bit about the CERA credential (through the Society of Actuaries). I have my ASA, and am waiting on results to come out this week to see whether I’ve gotten the CERA credential. The CERA credential consists of 5 exams, an online learning module and an ethics course/seminar. 4 of the 5 exams required are multiple choice exams, focused on various mathematical & financial concepts and constructs. These 4 exams are identical to 4 of the preliminary exams that actuaries must take to become credentialed. They cover topics like discrete & continuous probability, time value of money, present value calculations, statistical evaluation of models, financial economics and other assorted topics. In total, these 4 exams add up to approximately 11 hours of exams (2 2-hour exams, 1 3-hour exam and 1 4-hour exam). The 5th exam specifically deals with enterprise risk management, where various risks are described, discussed, evaluated and analyzed. I haven’t seen the entire FRM syllabus yet, but I suspect a significant portion of the syllabus is similar between the two. It is a 6-hour, written answer exam covering the entire topic. There tends to be a focus on insurance companies for the ERM exam, but not entirely - the Crouhy Risk Management text is on the syllabus, and that book discusses risk management in the context of a banking system, primarily. The online learning modules & ethics seminar, while informative and useful, are somewhat trivial in terms of preparation time and effort, compared to the exams. In all, I’ve likely spend upwards of 1,000 hours preparing for the exams I’ve taken to get my ASA (and hopefully CERA). I’m hoping preparing for the FRM exam will not be quite as time-consuming.
wat - Thanks for the input on CERA - very interesting. Wish you success in result. Might like to discuss a couple further points offline. If agreeable please email me at paca062009-frm AT yahoo.com.
paca06 Wrote: ------------------------------------------------------- > FINfor LIL, > > Could you elaborate on “better”? And do you have > an opinion how either compares to CERA? > > Thanks, As in “free”/ “cheap” study guides, that is :p.