ARM 56 Risk Financing FAQ

How long is the exam? How many questions are included?

Where do I go to take the exam?

Is there an exam fee?

Are the questions essay or multiple choice?

How many courses do I need to earn the ARM?

How long will it take me to study for this exam?

How do I go about studying for the ARM exams?

What can I take into the exam with me?

How is the test graded?

Do I need to take a class?

How long is the ARM exam? How many questions are included? The exam begins with a tutorial to help you understand all the buttons and systems of the exam. Your exam time does not include this tutorial. You will be allotted a full two hours for the exam. There are 85 multiple choice questions.

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Where do I go to take the exam? You will need to register with Prometric to take the exam. They will help you to find the closest center to you. You can review their list of centers on their website at www.prometric.com/aicpcu . Check first to make sure your company is not an approved examination center.

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Is there an exam fee? There is an “Early Bird” price of $148 for ARM exams if you register before the first day of the testing window. After that date, the price is $208. Plan ahead!

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Are the questions essay or multiple choice? The questions for all ARM exams are multiple choice. They will include both Part A (questions of knowledge) and Part B (application style) questions.

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How many courses do I need to earn the ARM? There are three courses in the ARM curriculum. If you are interested in risk management specifically for public entities, you might consider the ARM-P designation, which requires an additional course, RMPE 352 – Risk Management for Public Entities.

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How long will it take me to study for this exam? Typically students using the KEIR method of study report studying 40 to 60 hours per course. It will depend on how much knowledge and experience you already have in the topic.

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How do I go about studying for the ARM exams? You probably have a favorite approach to studying. We find two typical scenarios for studying ARM. One, you will read the text book, read the ARM Course Guide Question, think or write out your answers to the questions, check the KEIR Answers to the Course Guide, and take the Practice Exam for that assignment. When all assignments have been completed, you will take the Trial Finals. Or two, if you know the topic very well, you could test yourself with the Practice Exam questions. If you earn a 75% or 80%, you probably don’t need to read the text – move on to the next assignment. Just make sure you take the Trial Tests and earn at the very least 75% before going to your national exam.

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What can I take into the exam with me? Your license or photo id, and exam ticket. You will be given paper and pencil for working out solutions – but you will not be allowed to leave the exam center with the paper. You will be given a calculator if the exam requires one. Everything personal will be locked in a locker for safe keeping.

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How is the test graded? You will receive a pass/fail grade. Multiple choice exams will be graded at the testing center – you will receive immediate feedback.

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Do I need to take a class? That depends on you. There are excellent classes available from local CPCU Societies or online programs, such as the ones offered by IEA. If you need the discipline of doing homework and taking weekly quizzes, a class may be best for you. If you can set a schedule of study and stick to it, you can be a successful self-study student.

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ARM
Associate in Risk Management

ARM 54 – Essentials of Risk Management

ARM 55 – Essentials of Risk Control

ARM 56 – Risk Financing

	ARM 56 Books and Products

	About the ARM 56 Examiniation

	ARM 56 FAQ

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