Examination Rules
Examination Rules Fees
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Referring to the letter number 408/Skr/Pbn/XII/2005 dated 7 December 2005 about the fee, we inform you that the total fee of Rp 3,500,000 to be allocated for several posts including

According to Bank Indonesias decree number 7/25/2005 on risk management certification, BSMR as an official institution to organize risk management certification is obliged referring activities to the international best practices; in this case BSMR and Bank Indonesia have agreed upon selecting Global Association of Risk Professional (GARP), one of international leading associations in risk management profession, as partner in organizing risk management certification program in Indonesia.

- As GARP has officially been appointed as partner, it leads to consequence that each   participant will be charged by USD250. In return, BSMR will receive several compensations   include:

  • GARP sits at certification committee with main task to control quality and standard of certification program

  • GARP prepares materials and certification syllabus

  • GARP designs materials for exam

  • GARP authorized certificate issued by BSMR so that the risk management certificate issued by BSMR is equally valid with risk management certificate issued by GARP

  • Using GARP logo in any occasions organized by BSMR

  • Other technical assistances

The remaining Rp 1,000,000 will be used as operational cost allocated for:
  • Multiply syllabus

  • Exam materials and answering sheet

  • Organize exam in several leading cities simultaneously

  • Information and Technology system

  • Document delivering cost

  • Expenses for staffs

  • Six times examination cost within a year

  • Uncertainty foreign exchange rate US dollar against Rp

  • And other operational cost

For additional information, BSMR still receives subsidies from Bank Indonesia as part of commitment to assist certification program for the next several years. But BSMR is also expected to be independent both financially and in operating the office.

For your information, GARP charges examination fee for Financial Risk Manager (FRM) between USD500 to USD900 per person. While PRMIA charges USD395 to USD600 per person for examination. We enclose the brochures.

These are information we could provide, but we welcome any inputs and suggestions from PERBANAS. We will be appreciated and could be used as considerations if there is opportunity in the future to renegotiate with GARP.

Thank you for your kind attention and cooperation. Regards.
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