Why is GARP changing the exam to two levels?
GARP revised its FRM certification program in response to the changes occurring in the global markets and in recognition of the growing complexities associated with the profession of financial risk management. By implementing the revised program this year, GARP’s FRM Committee and Board of Trustees responded to market-driven requirements and outwardly demonstrated the view that risk management is a dynamic discipline that must continuously evolve, encompass product innovation and change with changing market conditions. The events of the past 24 months have led to a rapidly growing and recognized need for skilled risk managers worldwide. To objectively ensure their skill sets are sufficient to meet both the challenges and opportunities of an increasing global and interconnected financial environment, the FRM program’s syllabus was revised to more adequately measure a candidates understanding of the tools necessary to assess financial risks, and the candidates ability to apply those tool
