The ARM Certification

The ARM designation, awarded by the Insurance Institute of America (IIA) and American Institute for CPCU, is the most recognized professional title in Risk Management. This program was created in 1963 and is regularly updated to reflect practical real-world applications of Risk Management.  In January 2006, the ARM program was substantially updated to integrate the most recent developments in the Risk Management field.

By earning the ARM designation, you will develop a comprehensive understanding of Risk Management and master the methodological decision making process covering risk diagnostic, treatment and audit.

To earn the ARM designation, you have to prepare for and pass three exams; namely:

• ARM54 – Risk Assessment
• ARM55 – Risk Control
• ARM56 – Risk Financing

The Asian Risk Management Institute (ARiMI) is the approved testing center for IIA.

In order to assist candidates in their preparation for the exam, ARiMI also conducts ARM Study Groups. Those Study Groups are organised as a corporate training for an organization that wishes to get a larger number of their staff certifed with ARM (Typically Insurance Companies and Insurance Brokers) will find the the Study Groups program very usefull. The Study Groups will provide candidates with online exercises & questions to guide their progress and includes face to face review& progess sessions with an experienced instructor to solidify understanding of key concepts.  Candidates will also be given two mock exams to practice and to increase their confidence level when taking the actual exam.

back to top

The ARM designation is designed for people who are decision makers in their organizations and hence are involved in the management of risks. They wish to learn not only how to protect against loss exposures but also how to optimize the value creation process in an organization.

Those who would benefit from the ARM professional title include insurance brokers and consultants; insurance underwriters; reinsurers;Risk Managers; internal & external audit; finance managers; and senior managers from the corporate and public sectors.  More than 30,000 people who work in these fields have earned the ARM Designation in the USA and Europe. There are no pre-requisites for candidates seeking the ARM designation.

back to top

• Expertise in a discipline that is at the core of the value creation process in an organisation.
• Ability to apply risk management skills and tools to your current job scope in order to improve your performance and positively affect the results of your organisation.
• Career enhancement opportunities with higher competency in tackling critical issues.
• Stepping stone into a new growth area as a Risk Manager.
• Access to an international network of alumni in the US, European Union, Australia and Asia.

back to top

• Having an expert able to implement Risk Management effectively in your organisation.
• Integration of Risk perspectives in strategic planning capability.
• Improve project implementation proficiency with reduced cost and errors.
• Enhance operational efficiency with improved risk-based control systems.
• Reduce overall operational risks and improve business results.

back to top

back to top

Each exam consists of eighty-five objective questions (multiple-choice) and is administered online at the Asian Risk Management Institute. The time allotted is two hours. Candidates can take an exam on the set working day within the quarterly exam window.

Within each exam window, candidates can take one or more of the three required exams and these exams need not be taken in sequence.  Exam windows in 2008 are:

15 January to 15 March 2008
15 April to 15 June 2008
15 July to 15 September 2008
15 October to 15 December 2008

Upon successful completion of all three exams, the candidate will be awarded the Associate in Risk Management (ARM) title by the IIA/AICPCU.

back to top

To pass each ARM exam, candidates are recommended to study for at least 100 hours. The Asian Risk Management Institute can help candidates make the best use of preparation time within their busy schedules by creating an ARM Study Group with the assistance of ARiMIbfor your organization for each exam.

Each ARM Study Group comprises

• Online Exercises/MCQs to guide candidates’ progress (four times)
• Three sessions of study review - Q&A with instructor
• Two online Mock Exams to give ample preparation
• Two Mock Exam review sessions - Q&A with instructor

These review sessions will ensure that candidates have an expert to turn to who can clarify queries and provide timely guidance.  Peer involvement in the Study Group will motivate candidates to persevere against the rigorous study and other commitments.

By organizing an ARM Study Group, organizations can ensure a strong support for their candidates as they will be pulled along with the help of the online MCQs, reviews sessions, etc. These review questions help candidates adhere to a disciplined study schedule. 

The Study Group Meetings serve as milestones for candidates to cover the required exam contents and to solidify candidates’ knowledge. The Mock Exams allow students to practice under real exam time constraints and will increase candidates’ confidence and increase significantly their ability to pass the ARM exam successfully.

All online exercises and mock exams will be sent via email. Review sessions will be conducted at either at the organization office or in our training facility @ NUS Extension campus at Park Mall [9 Penang Road, #12-01, Park Mall (opposite Dhoby Ghaut MRT)]

Especially for ARM54 candidates who may need a more in-depth introduction to risk management, ARiMI offers a package of workshops that not only will lay the foundation for ARM preparation, but also will increase candidates’ understanding of core entreprise risk management concepts. 

The ARM54 Knowledge Workshops comprise

• AW1 - Creating Value with Risk Management: A Roadmap to Understanding Enterprise-Wide Risk Management Principles, Methodologies and Tools (2 days)
• AW2 - Advanced Data Analysis: Forecasting and Decision Tools (1 day)
• AW3 - Making Risk Management Decisions Through Cash Flow Analysis (1 day)

The three workshops above are part of the Certified Professional Risk Manager (CPRM) designation program which complements the ARM professional title (http://www.arimi.org/cprm)

For more information on the ARM 54 Knwoledge Workshops, please click Calendar or check NUS Website

back to top

For more information on the ARM 54 Knwoledge Workshops, please click Calendar or check NUS Website

back to top

Study Cost

back to top

For more info please