🛡️ PRM — Professional Risk Manager (Exam-Prep)

An independent, free study course covering all four PRMIA PRM exams: finance theory and instruments, the mathematics of risk, market/credit/operational/liquidity risk practice, and governance and ethics. The course is organized into 10 modules, ending with a final exam (pass mark 80%). It is independent, free exam-preparation training — not an official or accredited review course.

What you'll learn

• The PRM Designation and How to Study
• Risk, Return and CAPM
• Bonds, Equities and the Term Structure
• Forwards, Futures, Options and Swaps
• Probability and Distributions
• Statistics, Regression and Matrices
• Market Risk and Value-at-Risk
• Credit Risk: PD, LGD, EAD and CVA
• Operational, Liquidity Risk, ALM and Basel
• Governance, Ethics, Case Studies and Exam Day

Learning objectives

• Explain the structure of the PRMIA PRM designation, its four exams, and how to build an effective study plan.
• Price and analyze core financial instruments: bonds, equities, FX, forwards, futures, options, and swaps, and apply CAPM and term-structure concepts.
• Apply the mathematical foundations of risk: probability, key distributions, statistics, regression, volatility, matrices, and basic calculus.
• Compute and validate market risk measures including Value-at-Risk (historical, parametric, Monte Carlo), expected shortfall, backtesting, and stress testing.
• Quantify credit risk through PD, LGD, EAD, expected and unexpected loss, credit VaR, counterparty exposure, and CVA.
• Manage operational and liquidity risk, perform asset-liability management, and interpret Basel II/III regulatory and economic capital.
• Apply PRMIA governance standards, conduct, ethics, and risk-culture lessons drawn from major case studies.