This page will help you understand what to expect and what you are committing to.
Step 1: Register on the IOR website and complete the application form
The qualification is designed for individuals who have completed secondary education. Relevant work experience would be useful, but is not essential. You must accept the Terms and Conditions and our Fair Treatment of your Data policy for the course prior to enrolment.
Step 2: Pay the course fee to receive the Course Workbook
As part of the application, full payment of the course fee is required, in advance, which includes the registration fee for access to the Workbook, one attempt at the exam and 12 months Associate membership of the IOR if you are not already a member. A number of payment options are available and these are described on the website at enrolment. All payments must be in UK pounds and are subject to UK sales tax (VAT). Upon payment, you will receive login details to the student’s area where the downloadable Course Workbook is available.
For refunds and cancellations, please check the IRM Qualification Terms and Conditions.
Step 3: Study the Course Workbook
You need to study all 9 Workbook chapters in detail, in order to be fully prepared for the exam. The countdown starts the moment you are provided with access to the Workbook. You are allowed 1 re-sit and cannot attempt the exam within the first 3 months of commencing your studies.
You may refer to other materials but at the exam you will only be tested on the learning outcomes as outlined in the Syllabus.
You are expected to carry out the Workplace Reflection exercises, outlined in the Workbook, to further explore the principles explained in the Workbook and apply knowledge/ tools first hand, within a professional environment.
Self-motivation is important and to be able to commit sufficient time to the course, especially as the course (i.e. Workbook study, Workplace Reflection exercises and Learning Activities) is expected to take you at least 150 hours to complete.
Step 4: Book the exam slot
You will receive the exam voucher/unique exam number, 3 months after course registration, with instructions on how to create your account and book your exam slot.
Your understanding of the topics covered in the Workbook is assessed through a multiple-choice question exam. Questions are based solely on the content of the Workbook with a focus on the learning outcome listed at the start of each chapter.
You can practice for the exam by going through the ‘Key Learning’ once you reach the end of a Workbook chapter.
You may decide to take the mock exam available and can gain familiarity with the online system prior to the formal exam sitting. This is recommended, as it will also confirm that the computer used for the exam is compatible with the system.
Step 5: Take the exam
You will have 75 minutes available to answer 50 multiple-choice questions. You will be monitored during the exam by a professional supervisor (online invigilator).
Before the exam session starts, you will be asked to grant the online invigilator permission to check the immediate home or office environment (e.g. desk area and surroundings) that you have chosen for the exam.
The exam can only be taken on a PC, laptop, MacBook Pro or iMAC that you have ‘Admin’ rights to, where you are allowed to install new software applications. You will need to download a software application in order for the invigilator to be able to observe you during the exam.
You will have the opportunity to test the link between the system and your IT system prior to the exam session. You will find detailed instructions when you log on to the portal.
You will need:
- Access to a high-speed/ broadband Internet connection and PC or laptop is essential. The exam cannot be taken on a Tablet, iPhone or iPad as these are not compatible with the exam system (If a high speed stable connection is not guaranteed, students are advised to use a network cable to avoid fluctuations with their Wi-Fi connection during the exam.)
- A compatible web-cam needs to be set up and connected to the PC or laptop, if not already built in to the device, in preparation for the exam.
- Good sized mirror (approx. 15cmx15cm) needed to demonstrate to the invigilator before the exam that the space around the device is cleared of any study materials.
- Accepted form of ID (passport or driving licence) with the date of birth and picture of the student to be shown to the invigilator before the exam starts.
Step 6: Learn the result of the exam
The pass mark to be awarded the ‘Certificate in Operational Risk Management’ is 30/50 questions. The grade boundaries for the exam will be pass or fail.
Exam results will only be issued to you, even if you are sponsored by your employer.
Step 7: Certificate issue
You will receive notification of your score on your Candidate Portal account and if you have passed, an electronic Certificate is issued in PDF format
In the event you do not pass the exam first time and request a re-sit, then you will need to register again for the exam and secure a new time slot. An additional charge applies for re-sits.
Now that you know what’s involved click on the buttons on this page to start your application. We wish you every success and enjoyment in your studies.