Riskprep FAQ - PRM Exam Preparation, PRM Test Qustions, PRMIA Sample Exams

Frequently asked questions

If your question isn't answered, post an entry in our forum, or send an email to This email address is being protected from spambots. You need JavaScript enabled to view it.

Exam preparation

- How should I prepare for the PRM exam?

- How much time do I need to prepare for the exam?

Riskprep's product
- Do I have to buy to benefit from Riskprep?
- What is Riskprep actually selling?
- Are the questions the same that are asked in the real exam?
- What is the difference between "simulated test" and "practice questions"?
- Is Riskprep all I need to prepare for the PRM exam?
- What are the questions like? Can I try some?
- Is your question pool static?
- How many times can I practice the questions?

Access and payment

- I don't have a PayPal account. Can I pay by credit card?
- How long is my access valid for?
- How long does it take to get access once I pay? Why do I not get immediate access to the questions?

- Will I be charged automatically every month? (No)

Technical help

- I cannot log out

- Where do I access the questions once I have paid?

- 'Practice All Questions' link does not work

Exam preparation

How should I prepare for the PRM exam?
The PRM handbook issued by PRMIA is the best resource for preparing for the PRM exam. It is comprehensive, covers exactly the syllabus that is prescribed by PRMIA, and exam questions mostly relate to subjects covered in the handbook.

The handbook can be purchased directly from PRMIA. For more questions about preparation, post an entry in 'forum' section of the website.

How much time do I need to prepare for the exam?
There is really no answer to this question. It depends upon your existing knowledge of risk management, your prior background in math and finance and just how much attention you are able to pay when you are studying. Quite obviously, if you already work in the risk management field and deal with VaR and risk models everyday, the material would be very familiar and you would need far less time then someone just out of college and trying to get an entry into the profession. As it is said, your mileage may vary.

Riskprep's product

Do I have to buy to benefit from Riskprep?
No, not at all. Riskprep is a community resource where you can share your exam prep experience, ask questions of other people who have written the exam, or even ask about technical subjects. Joining Riskprep is free, and it gives you full access to the forum where you can post your questions and read other members’ posts. For more questions about preparation, post an entry in 'forum' section of the website.

What is Riskprep actually selling? What does your product have?
Riskprep has built a large pool of questions which is being continuously added to which you can use to practice for the exam, and to get an idea of your state of preparedness. The questions focus on the theoretical nuances and practical numerical questions of the type asked in the exam. Having studied a topic, you might feel you know it, but learning by answering actual questions tests if you understand all the nuances.

Are the questions the same that are asked in the real exam?
PRMIA’s question pool is confidential and owned by PRMIA. The questions at Riskprep are independently written with a view to preparing you for the exam. Exam takers are prohibited from disclosing the questions they were asked. We support PRMIA’s efforts to build the world’s most credible risk certification and even if you remember any questions, be mindful of your responsibility to not discuss them in public forums.

What is the difference between "simulated test" and "practice questions"?

The "practice questions" are the complete set of all questions for an exam. This is a large body of questions. When you are working on the "practice questions", each of these questions will be presented to you sequentially. The "simulated exam" is a subset of the same questions, but only 36 (or 24) at a time, and drawn at random from the pool of practice questions. Of course, the 'random' selection takes into account topic weights as given by PRMIA for each of the exam topics. If you have done all the practice questions and are confident about them, the simulated test will only present the same questions again. Each time you try a simulated test, a new random drawn test will come up.

In both the practice questions and the simulated tests, the choices of the answers are presented at random each time. The idea is that each time you practice the question pool, you should not end up having remembered the 'position' of the correct answer,

Is Riskprep all I need to prepare for the PRM exam?
No. Riskprep aims to provide a large pool of practice questions, a gap we as PRMIA members noticed existed in the handbook. Additionally, Riskprep also provides brief tutorials on a number of topics with a view to providing an intuitive understanding of a complex subject. These tutorials are being added to continuously, and if there is a particular subject that you find difficult and would like to see a tutorial on, please write to This email address is being protected from spambots. You need JavaScript enabled to view it.and we would try to put it in. The tutorials are freely accessible to all members and non-members.

Remember that Riskprep is not a replacement for the PRM handbook, nor for the various textbooks that provide an advanced treatment of many of the topics covered by the PRM exam. You will still need them. The idea behind Riskprep is to provide an inexpensive way for you to enhance your understanding of risk management, get greater confidence as you prepare for the exam, and supplement your preparation.

What are the questions like? Can I try some?
Sure you can. Try our sample questions from the home page. When you do the questions, you should not only look for the correct answer, but also try to understand why the remaining answers are incorrect. The ‘incorrect’ answers would be correct in another context, and maybe in the exam you will be asked a slightly different question. Our explanations to questions don’t just highlight the correct answer, but also why the other answers are incorrect. Be sure to read the whole explanation.

At the end of every question, feel free to send your feedback through the link provided, or by sending an email to This email address is being protected from spambots. You need JavaScript enabled to view it.. Better still, share your question in the forum so others can benefit too.

Is your question pool static?

Our questions are constantly being added to, and edited. The question pool is not static.

How many times can I practice the questions?

During the period for which your access is valid, you can access the question pool as often as you like. There is no limitation on the number of times you can attempt the questions. In fact I would encourage you to practice them multiple times so that the concepts become completely clear in your mind. The choices will be jumbled up each time you try them, so you do not have to worry that you will remember the position of the correct answer.

Access and payment

I don't have a PayPal account. Can I pay by credit card?

You can pay directly by credit card too. On the left of the PayPal login screen, you will see a link to pay by credit card without using a PayPal account.

How long is my access valid for?

Your access is valid for one month. We believe students normally need practice questions when they are sufficiently advanced in their preparation, and a month is adequate to practice questions right before writing the exam.

How long does it take to get access once I pay? Why do I not get immediate access to the questions?

It takes some time (up to 30 mins) for the payment to be reflected in your account. So please be patient. If you continue to have problems, please send an email to This email address is being protected from spambots. You need JavaScript enabled to view it. and we will fix it as soon as possible.

Will I be charged automatically every month?

No.  Your payment is a one time charge that gives you access for a month.  It will NOT be automatically renewed.  Most people need the access only for a limited time prior to the exam, and often a month suffices.   Of course, if you wish to continue your access, you can do so by paying again.  Riskprep will not charge you again automatically.

Technical help

I cannot log out

Some folks have reported this problem.  You need to clear your cache, cookies and all temporary files on your browser.  For internet explorer, go to Tools --> Internet Options --> the first tab titled 'General' select 'clear browsing history on exit', OK and then close and restart the browser.  This generally fixes the problem.

You can also try with a different browser such as Firefox or Chrome to see if you continue to have that problem.

Where do I access the questions once I have paid?

Go to the exam that you have paid for and for which you wish to review the questions by clicking the 'My Exams' tab.  You can access the questions by clicking the links 'Practice All Questions' or 'Simulated Exam'.

For example, for Exam 2 this is what you need to click on:

'Practice All Questions' link does not work

Clear your browser cache just like described in the previous question. For internet explorer, go to Tools --> Internet Options --> the first tab titled 'General' select 'clear browsing history on exit', OK and then close and restart the browser.  This generally fixes the problem.

You can also try with a different browser such as Firefox or Chrome to see if you continue to have that problem.