MLARM Certificate Frequently Asked Questions

What is the Difference Between the PRMTM Designation and the Market, Liquidity and Asset Liability Management Risk Manager Certificate?

The PRM Designation is our most academically advanced program and designed to cater to all the needs of a Chief Risk Officer. Only successful candidates of the PRM designation are entitled to use the PRM title. The PRM is achieved by passing a series of four exams to be successfully completed within a two year time frame.

The MLARM is designed to deliver a deep, practical understanding of these areas of risk management, their frameworks, and various measurement methodologies in financial institutions. Successful candidates will be better prepared to implement the processes, procedures and policies around these areas, as well as gain a deep overview of the related tools and techniques.

MLARM Certificate Holders will receive a certificate but will not be entitled to use the PRM title.

What is required to receive the MLARM Certificate?

Candidates are required to pass one exam to be awarded the MLARM Certificate.

Are there any pre-requisites to write the exam?

The only prerequisite to take the MLARM exam is to have an account with PRMIA.

Are candidates required to complete yearly continuing education credits?reg

The MLARM Certificate does not require any continuing education to be completed.

What do I have to do to maintain my certification?

The only requirement in maintaining your certification is to uphold the highest professional and ethical standards as defined by the PRMIA Standards of Best Practice, Conduct and Ethics.

What if I fail the exam the first time I take it?

Candidates may retake the exam by paying purchasing a new exam authorization. The cost for a new exam authorization is $468 for non-members and is discounted for members. Please, contact support@prmia.org for a link to purchase a retake exam.  Candidates must wait 90 days from the date of the failed exam to retake the exam.

What are the required reading materials?

The PRMIA MLARM Handbook is the only required reading material.

What additional study resources are available for the MLARM Certificate?

The MLARM Certificate Candidate Guidebook is available to help candidates navigate the syllabus and successfully pass the exam.

How much study time do I need to prepare?

Preparation time will vary greatly according to your knowledge and understanding of the subject matter prior to your self-study. This will also vary according to your ability to commit dedicated and uninterrupted time to your study as well as other factors. In general, candidates who prepare for the exams of the MLARM Certificate allocate about four hours per week for three months in preparation for the exam.

What are the current offering dates?

Beginning March 2016, the MLARM exam will be offered on all workdays except local government holidays. Please visit the Pearson Vue - PRMIA landing page to check the nearest test center’s availability.

Are any discounts available?

Discounts are available for companies or institutions that wish to enroll a group of candidates in any part of the program. The candidates need not sit at the same time, and your group will have up to one year to use the testing slots purchased. Contact certification@prmia.org to learn more.

How long is the exam?

The MLARM exam is two hours long and consists of 60 multiple choice questions. PRMIA's computer-based method of delivery of the exams allows it to evaluate very specific details about each question administered, including down-to-the-second measurements of how long it takes most candidates to answer each question.

Do the exams have multiple choice and written answers?

Questions are all multiple choice. Exam questions are randomly drawn from the exam data base, according to the syllabus order and weightings. There are no written answers questions.

In which languages can I take the MLARM exam?

The MLARM Exam is offered in the English language only.

How do I register?

You must enroll in the MLARM program to register for the exam. Spaces at the testing centers will be reserved on a first-come, first-served basis, so you are encouraged to register as soon as possible.

What do I receive with registration?

The program fee will provide you with an authorization to take the exam and the digital version of the handbook. The exam authorization is valid for 1 year after purchase of the program fee. A retake exam must be purchased if the authorization expires before the exam is taken. 

What information is shared with Pearson VUE?

In order to authorize you to take the MLARM Examination, PRMIA sends the following details to Pearson VUE. These details are taken from your primary address and phone number you provide in your PRMIA profile. The data are sent to Pearson VUE only when you purchase the MLARM program fee or a retake exam fee.

 - PRMIA unique identifier (an internal ID)
 - First and Last Name, and Middle Name or Prefix, if provided
 - Salutation, if provided
 - Email address
 - Primary address and phone number

Visit the PRMIA Privacy Policy for more information. 

Can I cancel or reschedule my exam?

In recognition of the busy and changing schedules of risk managers, you may change your exam appointment without charge through the Pearson VUE system. Please note that all change requests must be made at least one business day before the testing date or the entire exam fee will be forfeited.

Are program fees refundable?

Because of the flexibility in rescheduling your exam, program fees are non-refundable.

What is the expected passing grade?

Current passing grades are 60% on the exam.

Where can I take the exams?

The exams are offered by Pearson VUE at approximately 6,000 secure and convenient testing centers located in more than 170 countries throughout the world.

What kind of testing site security will there be?

Candidates will be required to present two forms of official identification when arriving at the test center. Furthermore, a digital signature using a signature pad and a digital photograph will be taken during the admissions process at the testing center. Candidates must sign-in and sign-out of the testing center. No papers may be brought into the examination room and all rooms are videotaped during testing and monitored by a proctor using a parabolic mirror. Scratch paper is provided at the site, but candidates must leave all papers in the testing room upon completion of the exam.

Can I Bring a Calculator, Mobile, or other device into the Exam?

No. An online scientific calculator, Texas Instrument TI308XS, is part of the test delivery system. No other materials may be brought into the exam room with you. It is suggested that candidates purchase the hand-held version (TI-30XS) to fully familiarize themselves with the calculator.

What is the designation that successful candidates are awarded?

Upon successfully completing the exam, candidates are awarded a Certificate in Market, Liquidity and Asset Liability Management. This is not a professional designation and cannot be added to candidate’s business cards.

Are there any exemptions granted toward the PRM Exams?

No. Completing the MLARM Certificate will not yield any exemptions toward the PRM Designation.

Where do I find my exam results?

Exams are graded digitally. Results are usually available within 15 business days of your test date and can be accessed by signing in to your PRMIA account and going to the 'Certifications Tab' in your 'PRMIA Profile'.

How and when do I receive my MLARM Certificate?

After becoming certified your certificate number is available via your Certifications Tab in your PRMIA Profile. Digital certificates are issued by Accredible. Digital certificates offer more than a just a digital copy of your certificate, see Documentation & Sharing for features.

What information is shared with Accredible?
Accredible is the provider of the PRMIA digital certificates. In order to provide the digital certificates within the PRMIA Public Directory of MLARM Certificate Holders, PRMIA sends the following details to Accredible. These details are taken from your exam records, as shown in your PRMIA Certification Profile tab in your PRMIA profile. The data are sent to Accredible only once the MLARM Certificate is achieved and the status changes to "Holder".

 - PRMIA unique identifier (an internal ID)
 - First and Last Name, and Middle Name or Prefix, if provided
 - Email address
 - Certificate Number
 - Certificate Date

Visit the PRMIA Privacy Policy for more information.