Policies

Exam Deferral Policy

An FRM candidate may only defer their registration to the next year.  To defer your registration, please click here.  You must submit this to GARP no later than August 31st to defer to 2009.  Please note:

• Once you complete the Deferral Form, you will  be charged an administrative processing fee of USD $100. (Please note that the difference between this year's registration fee less the USD $100 fee will be credited towards your registration for next year)
• Your GARP Membership fee is not deferred along with your FRM registration. You will have to renew your GARP membership to sit for next year's exam. 

• If you choose to re-enroll for this year's exam after submitting the Deferral Form, you need to do so by August 31st and will be assessed a re-enrollment fee of  USD $20. 

• Should you elect not to re-register in 2009 for the FRM exam, you will forfeit all exam fees and credits.

Note: any study materials you purchased for this year's exam may not all be applicable for next year's exam since the Study Guide and suggested readings will change from year to year.

Click here to defer to the 2009 FRM Examination.

Calculator Policy

Only the following types of business calculators are authorized for use on the FRM exam.  There will be no exceptions to this policy.  Should you use a non-authorized calculator at any time during the exam, your answer sheets will not be graded.

Click here to purchase a Hewlett Packard business calculator directly from their website.*

*GARP has no financial or other interest in the companies producing the authorized calculators, nor does GARP earn any direct or indirect fee from your purchasing and/or using the calculators.

Exam Materials Policy

• All exam materials, including exam booklets and answer sheets, are the sole property of GARP.  Completed examinations will not be returned or shared partially or fully with candidates.
• Your examination materials must be given to the proctor prior to leaving the exam room for ANY reason including trips to the restroom.
• If you finish either Session before the end of the allotted time, you may leave the testing room but only after you have handed in all your examination materials to the proctor.  Once you leave the testing room after completing a Session, you may not return.  No one may leave during the last 30 minutes of either session.
  

Exam Center/Room Policy

Proctors and security personnel may ask to inspect your belongings at check-in to ensure that prohibited items are not carried into the testing room. Please comply with all of these requests. You must follow these guidelines at your testing center. With your cooperation, we are able ensure that candidates are checked in promptly and seated on time.


The following items must be kept on your desk during the examination:

• 2008 FRM admission ticket
• Current government-issued photo identification
• Approved calculator(s), including calculator case(s) 
• Pencils or pencil lead for mechanical pencils

The following items are permitted in the testing room but must remain in your pockets or in transparent plastic bags under your chair when not in use:

• Wallet (money purse)
• Calculator batteries, pencil sharpeners, eyeglassess, earplugs
• Medicine, tissues, and other medically necessary or personal items
• Food and drinks (Please note containers cannot be opened in the testing room.  All food and drinks must be consumed outside the testing room.).

The following items are not permitted in the testing room:

• Baggage of any kind including backpacks, handbags, tote bags, briefcases, laptop bags, luggage, carrying cases, or pencil cases
• Study materials including notes, papers, textbooks, study guides, scratch paper, present/future value tables, or calculator manuals, highlighters, correction fluid, correction tape, or rulers
• Knives of any type, including box cutter and X-ACTO® knives for use as pencil sharpeners
• Cellular telephones, cameras, pagers, headsets, computers, electronic organizers, personal data assistants, or any other remote communication or photographic devices
• Wristwatches with engaged audible alarms/timers or any type of desk clock/time
  
  If proctors or security personnel find items that are not permitted in the testing room, you will be required to place them in a designated area away from the testing room during the examination. You will not have access to these items during the examination, but may access them during the lunch break and at the conclusion of the examination. Neither GARP nor the test center, testing personnel, or vendors will assume responsibility or liability for stolen, lost, or damaged personal property left in this area.

Refund Policy

No refunds are given.  You may request to have your registration deferred for one year (see deferral policy above).  Please note cannot transfer your registration to another candidate. 

Exam Site Closing

GARP, in its sole discretion, may determine it is necessary to close an exam testing site due to evacuation, natural disaster, acts of military, political or government authority, or "acts of God".  Should such a cancellation occur, GARP will make every effort to notify candidates as soon as possible.

If we have to change or cancel the exam at a site for other reasons, GARP will make every effort to provide advance notice and inform the candidates of the new testing site and/or additional options.