do candidates have to pay annual dues? i recently received an email saying that my annual due is coming up but i thought only actual members who hold the FRM title pay that fee? i know for a fact that CFA only charges members and not candidates. can someone clarify?
You have to be a GARP member before you can register for the exams. That is the GARP membership dues you’re paying. You can be a member of GARP without having the FRM designation, but you can’t attain the FRM designation without being a member of GARP.
ah i see. thank you for clearing that up tdorman!
You mean paying $195 every year apart from year 1 and then $150/yr once the certification has been acquired. Further clarifying, if someone takes part 1 exam in Nov 2014 for the first time and passes it and then part 2 exam, say, in Nov 2016, he would still need to pay $195 for Nov 2015-Nov 2016 although he has been inactive with GARP during that time.
tdoramn, just a quick point to dicuss along this line.
I recently asked GARP about this and they told me that GARP membership is not mandatory for the FRM program to obtain nor maintain the designation. However, they encourage certified FRM and FRM candidate and to consider the benefits of what membership has to offer before deciding to be a paid GARP member for a given year. For example, continuing professional education that is accessible through hte GARP membership may actually save money for those certified FRM and ERP who are looking to updated thier knoweldge in risk management.
do you know for sure that one cannot register FRM part II exam without being a (paid) GARP member?
With FRM part I, the enrollment fee already covers a complimentary one year Individual Membership in GARP–so being a paid-member is kind of like mandatory in a way for everyone registering for FRM part 1 exam.