Canadian Risk Management Eligibility

To earn the CRM designation, candidates need to complete three foundational courses, and pass a standardized exam for each course.​

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Three Foundational Courses

The Foundations of Risk Management or
Risk Management Principles and Practices

Topics covered:
  • Introduction to risk management
  • Risk management standards and guidelines
  • Hazard risk
  • Operational, financial, and strategic risk
  • Risk management framework and process
  • Risk identification, analysis, and treatment
  • Big data analytics for managing risk
  • Monitoring and reporting on risk

Risk Control or
Risk Assessment and Treatment​

Topics covered:
  • Introduction to risk assessment and treatment
  • Root cause analysis; 
  • Business continuity management
  • Physical property risk
  • Intellectual property and reputation risk
  • Legal and regulatory risk
  • Management liability and Human resource risk
  • Environmental risk
  • Crime and cyber risk
  • Fleet risk
  • Smart products and risk management

Risk Finan​cing​

Topics covered:
  • Introduction to risk financing
  • Estimating hazard risk
  • Transferring hazard risk through insurance
  • Self-insurance plans
  • Retrospective rating plans
  • Reinsurance
  • Captive insurance
  • Contractual risk transfer
  • Transferring financial risk
  • Transferring hazard risk to the capital markets
  • Allocating costs of managing hazard risk

 

Additional Notes:

The courses, and the three correspo​nding exams, are based upon the content from the below listed books, written and published by The Institutes.​

  • CRM-54 Risk Management Principles and Practices (Edition 3)
  • CRM-55 Risk Assessment and Treatment (Edition 2)
  • CRM-56 Risk Financing​ (Edition 6)

Steps to Obtain the CRM designation

Step 1: 

Create an online profile here.

Step 2: 

Enroll in each course at a CRM Course Provider that offers the required CRM courses listed above.

Step 3:

Access CRM Exam Registration page, select an exam and pay the testing and processing fee by credit card. (Exam fees are $155 (USD) for RIMS members and $175 (USD) for non-members.)

Step 4:

GRMI will issue the virtual exam access instructions via email within 3 weeks of processing the exam fee.

Step 5:

 

Go to The Institutes website www.theinstitutes.org, Click on Sign in from the upper right corner of the screen, Enter your supplied Username and Password, Click Sign in, and Select Exam. 

 

Step 6:

Once you enter your exam you will need to complete the Exam Administration Affidavit and Agreement, and agree to the Code of Academic and Professional Integrity.

Step 7:

Exam timer will start as soon as you click Start Attempt, and it cannot be paused.  You will have one attempt to complete the exam.

Step 8:

Candidate receives passing score of 70% or higher on all three exams.

Step 9:

Email an official copy of your transcript or grade report for all three courses to GRMI@rims.org

Step 10:

Access your Invoices page to pay the $100 (USD) CRM designation registration fee by credit card.

 

Note:

Please allow up to six weeks for processing of CRM designation application material.


 

 

Questions?

Please send an email to GRMI@rims.org​​