Operational Risk Management Fundamentals Certificate

The Exam

About the Exam

449 individuals have earned the certificate

Comprised of 30 questions and offered online, the exam takes approximately one hour to complete. A score of 80% or higher is required to pass. Individuals who achieve a passing score will receive a Certificate of Competency. RMA’s Web seminars are a helpful way to prepare. See details in the "Getting the Results" section below.

72% of users pass the first time

Cost for an individual to take the exam

Individuals employed by RMA Institutional members

$150

Individuals employed by nonmembers

$300

Individuals employed by RMA Institutional members

$150

Individuals employed by nonmembers

$300

Pricing for bank-wide exam subscription

# OF SEATS

1–12

13–25

25+ 

PRICE
Full price of $150 for member banks
75% of the regular registration fee
50% of the regular registration fee
BY # OF SEATS

1–12

Full price of $150 for member banks

13–25

75% of the regular registration fee

25+ 

50% of the regular registration fee

Individuals who do not pass the exam on the first try, can retake the exam one (1) time at no additional charge at any time within 180 days. Individuals who fail to pass the exam twice must re-register and pay an additional $75 fee, which allows individuals two more opportunities to pass the exam.

Exam time is approximately 60-90 minutes

Taking the Exam

  • Within 48 hours after signing up for the exam, participants will receive a welcome email from rmau@rmahq.org. Participants can follow the instructions in that email to create a username and password to log in with when taking the exam.
  • Exam can be taken on the participant’s computer.
  • Exam must be completed in one sitting. Participants cannot ‘X’ out or leave the page.
  • Participants do not have to answer questions in the order that they appear, and may skip a question and return to it at the end of the exam.

Getting the Results

"The exam is not just a memorization test but an indicator of overall knowledge and commitment to the operational risk discipline."

Once participants complete the exam and submit answers, they will receive their score immediately upon completion of the exam. The results become official upon the individual’s receipt of the certificate, which will be sent by RMA via email within two weeks following successful completion of the exam. Passage of the exam and awarding of the certificate confirms that participants have a solid understanding of general operational risk concepts.

For questions that were answered incorrectly, we provide remediation details referring back to a particular Web seminar. We then recommend listening to the Web seminars and retaking the exam.

  • Introduction to Operational Risk
  • Information Security in Operational Risk
  • Internal Loss Events: Embedding Internal Loss Data in an Organization’s DNA
  • Key Risk Indicators: What They Are and Why You Need Them
  • Quantitative Modeling of Operational Risk
  • Risk and Control Self-Assessments
  • Understanding External Losses for a Robust Operational Risk Program
  • Understanding the Boundaries Between Credit Risk and Operational Risk
  • Understanding the Value of Scenario Analysis in Operational Risk

Receive score immediately upon completion and submission of exam

Some institutions may encourage their teams to study first and then take the exam, while other institutions advise their employees to take the test first and then invest time in the areas that require training.