The following courses are required to earn the Associate in Risk Management (ARM) designation:
ARM 54—Risk Assessment: Risk Management Programs; The Risk Management Process; Legal Foundations of Liability Loss Exposures; Assessing Property, Liability, Personnel, and Net Income Loss Exposures; Management Liability and Corporate Governance; Forecasting; Cash Flow Analysis.
ARM 55—Risk Control: Controlling Property, Personnel, Liability, and Net Income Loss Exposures; Intellectual Property Loss Exposures; Criminal Loss Exposures; Disaster Recovery for Property Loss Exposures; Understanding Claim Administration; Fleet Operations Loss Exposures; Environmental Loss Exposures; Understanding System Safety; Motivating and Monitoring Risk Control Activities.
ARM 56—Risk Financing: Insurance as a Risk Financing Technique; Reinsurance and Self-Insurance; Retrospective Rating Plans and Captive Insurance Companies; Finite and Integrated Risk Insurance Plans; Capital Market Products; Forecasting Accidental Losses; Accounting and Income Tax Aspects; Claim Administration; and Allocating Risk Management Costs.
The ARM program meets one of the requirements of the Risk and Insurance Management Society’s RIMS Fellow® (RF) designation. For information, visit www.RIMS.org.
Program Options: The Associate in Risk Management (ARM) designation program is available as a self-study program via printed textbooks and course guides, or as ARM Online via online learning modules. ARM Online is offered in a segmented format, which breaks each course into three or four pieces.
Public classes at third-party providers are available for ARM courses. Companion seminars and in-class options, hosted by the Risk and Insurance Management Society (RIMS), are available for the ERM 57 course.
Print or Online, It’s Your Choice. Regardless of study method (online or text-based), ARM exams can be taken either as full-length course exams or as three or four segmented exams per course.
We Recommend ARM for: Agents/brokers, agency principals, line of business managers and executives, risk managers, and operational risk staff for banks and insurers
Course Sequence: It is best to take ARM 54 prior to taking ARM 55 or ARM 56.
Exam Information: ARM 54, 55, and 56 exams are offered at Institute-approved on-site testing locations and Prometric Testing Centers. If you prefer, you can approach your studies in a modular format consisting of a series of shorter study segments. You can do this in traditional print or using our new online delivery. After studying each segment, you can take the corresponding exam at all Prometric Testing Centers and at selected Institute-approved on-site testing locations. Contact your education coordinator for further information about on-site testing availability.
The RMPE 352 and ERM 57 exams are also offered at selected Institutes-approved on-site testing locations, as well as Prometric Testing Centers.
ARM exams consists of 85 objective questions and examinees have two hours to complete the exam. ARM segmented exams consist of between 15-50 objective questions, depending on the course and segment, and examinees have 60 minutes to complete each exam. The RMPE 352 exam is administered as an Exam-on-Request. Information on the ERM 57 exam can be found here.
Associate in Risk Management for Public Entitites (ARM-P) Designation:
By completing RMPE 352—Risk Management for Public Entities in addition to the three ARM courses listed above, you can earn the ARM-P designation.
RMPE 352—Risk Management for Public Entities: Public Sector Risk Management Administration, Risk Control, Exposure Identification and Analysis, Pooling, Managing Distinctive Liability Exposures, Claims and Litigation, Risk Financing, Establishing Risk Management Programs, and Disaster Planning/Emergency Response
Associate in Risk Management-ERM (ARM-E) Designation:
By completing ERM 57—Enterprise-Wide Risk Management: Developing and Implementing in addition to the ARM courses listed above, you can earn the Associate in Risk Management-ERM (ARM-E) designation. Download the program brochure for more information.
ERM 57—Enterprise-Wide Risk Management: Developing and Implementing: ERM, Strategy, and Exposure Spaces; Integrating Risk Management and Organizational Strategy; and Building the Business Case for the Board
The Associate in Risk Management program consists of the three courses listed below:
ARM 54—Risk Assessment
ARM 55—Risk Control
ARM 56—Risk Financing
All three Associate in Risk Management courses are presented in print and online in a segmented format that breaks each course into three portions.
Both the online version of ARM and the text-based study materials for these courses present the same material. Regardless of study method (online or text-based), ARM exams can be taken either as full-length course exams or as three or four segmented exams per course.
To earn the Associate in Risk Management for Public Entities designation, you must complete the three ARM courses listed above and
RMPE 352—Risk Management for Public Entities.
To earn the Associate in Risk Management-ERM designation, you must complete the three ARM courses listed above and ERM 57—Enterprise-Wide Risk Management: Developing and Implementing.
Click here to view information for this exam.
