About The Associate PRM™ Certificate
The Associate Professional Risk Manager Certificate (APRM) is intended for staff entering the risk management profession. It is also suitable for those who interface with risk management disciplines on a regular basis, such as Finance, Compliance, Audit, and IT, and who want to understand fundamental risk management methods and practices.
It is mathematically and theoretically less detailed than PRMIA’s Professional Risk Manager (PRM™) designation, and covers the core concepts of risk management.
The APRM exam is in a multiple-choice format and comprises 90 questions, with a pass mark of 60%. It can be written at a Pearson Vue testing centre on any business day in most major cities. Successful candidates will receive the Associate PRM™ certificate from PRMIA, as well as a credit for Exam IV of the PRM™.
The learning outcomes of the APRM syllabus, as provided by PRMIA, are as follows:
- Gain a familiarity with the concept of risk management and its place in the business, organization or system
- Gain an overall understanding of the concepts of risk management techniques in a non-quantitative framework
- Understand how ‘governance’ fits into the concept of risk management
- Understand the concepts of risk and return
- Gain a familiarity with the structure and workings of various financial markets
- Gain a familiarity with the financial instruments used in risk management
- Understand the concepts of interest rate risk and hedging
- Understand the concepts of asset-liability management
- Understand the concepts of market risk management
- Understand the concepts of retail and commercial credit risk management
- Understand the concepts of operational risk management
- Understand how performance can be measured
- Understand the concept of enterprise risk management
- Understand industry standards and best practices of financial risk management
What is the PAL Programme?
The PAL (Progress Assessment Library) Programme is an online educational tool for APRM candidates developed by Peter Skerritt & Associates, which comprises a total of 350 test and mock exam questions, with detailed worked answers for each.
These test questions have been prepared by our expert faculty to closely reflect the questions encountered in the APRM exam.
The programme has been designed to enable PRMIA candidates to bridge the gap between the prescribed syllabus and the APRM exam, by using our proprietary online testing system.
Our research has shown that candidates are often unsure of the types of questions to expect in the real exam, and require an additional resource to test their understanding of the material in a simulated exam environment.
What does the programme entail?
The programme comprises the following key features:
The Study Guide provides a step-by-step navigation through the APRM syllabus, and comprises a number of phases which we strongly urge candidates to follow in order to achieve above average results in the real exam.
Each phase requires the study of a designated section of the syllabus and the successful completion of an online assessment test.
Online Assessment Tests
Candidates are provided with access to a library of eight online assessment tests, corresponding to the eight sections of the APRM syllabus – a total of 170 questions.
Each of the tests is presented in a multiple choice format and specifically addresses the learning outcomes as they appear in the PRMIA APRM Study Guide. These questions have been prepared by our expert faculty based on personal experience of the APRM exam.
Completion of a test is possible 24/7 and is immediately followed by a score and detailed feedback.
In addition to the library of individual assessment tests, we also provide candidates with two online mock APRM exams consisting of 90 questions each. These exams reflect the precise duration and level of difficulty of the real exam.
Upon completion of each mock exam, candidates receive immediate and detailed feedback and model answers.
Is there a time restriction on access to the system?
Yes, 12 months from registration. An additional 12-month licence for all registered exams is available for a total fee of USD 95.
When may candidates enrol?
Candidates may enrol on the programme at any time and are welcome from any geographical location.
What is the fee?
USD 295.00 per candidate.
N.B. Candidates resident in South Africa are subject to a VAT charge of 15%.
N.B. The fee does not cover the cost of the APRM programme, which is payable directly to PRMIA and includes the cost of the exam fee and a copy of the core syllabus text: The Essentials of Risk Management. Please visit www.prmia.org/aprm to enrol directly with PRMIA on the APRM programme.
Who administers the programme?
The PAL programme is administered by Peter Skerritt & Associates, a long-standing Training Provider for the certifications of The Professional Risk Managers’ International Association (PRMIA).
What have some of our previous candidates said about the programme?
“The online tests provided by Peter Skerritt & Associates are really helpful in preparing for the exam. They provide comprehensive coverage of the individual study sections and provide a confidence boost in knowing that you have mastered that portion of the work.”
“The mock exams provided are in some ways more difficult than the actual exam, which improves your chances of passing the exam. The timed web interface mimics the exam conditions, which help the learner to be prepared and comfortable for the exam.”
“I found the mock exams very helpful and to be an accurate reflection of the actual test. Both the mock exams and the section tests were invaluable in preparing for the exam by highlighting areas of the work I didn’t know too well.”
How do I register?
Please complete and return the registration form to the e-mail address listed in the form.