Level 1

Overview of the IRM's Global Level 1 Enterprise Risk Management (ERM) Exam and Certification

IRM’s Global Level 1 Enterprise Risk Management (ERM) Examination is the first step towards starting a career in ERM with the world's leading professional body. The Level 1 Examination which is a certificate program on risk management can be pursued by students and working professionals alongside their graduation or post-graduation or professional career. The Level 1 ERM Exam is relevant for aspiring risk leaders, entrepreneurs, family business owners, risk champions, risk consultants, process owners, functional experts, or business heads. Students from any background can pursue the ERM exam considering the wide coverage of risks (i.e. finance, technology, legal, accounting, operations, management studies, and more) and the rising importance of risk intelligence as an important skill.

The Level 1 Examination covers the foundational knowledge that organisations expect as well as the critical risk identification and mitigation skills that professionals need to respond to complex uncertain events impacting all departments of an organisation that include marketing, human resources, procurement, supply chain, information technology, cyber security, sales, legal, research & development, environmental, social, governance (ESG) and many more. The curriculum empowers you with the theory and practice of enterprise risk management in-line with ISO 31000 standards, COSO framework, and industry best applications with a combination of case studies, applied exercises, and current affairs.

Additionally, outsourced services, IT security, supplier assessments, joint ventures and partnerships, alliances, and informal arrangements, together with the speed of change can all present challenges to organisations today. The Level 1 curriculum now also covers the study on the Extended Enterprise. Extended Enterprise looks at how all organisations are affected by the way that others in their value chain and network manage risk and the complexities that can arise from these relationships. It aims to study the complex network of relationships that underpin public and private economic activity in modern economies.

Successful completion of IRM’s Level 1 Examination entitles you to an international certificate, access to IRM's Level 2 Qualification and membership into IRM India alumni community.

Skill & Knowledge

97%

of candidates agree that they are able to think from a risk perspective and have become analytical in their approach

Application

92%

of candidates agree that they have learnt the process to identify and manage risks

Current Trends

86%

of candidates agree that they are better aware of global inter-connected events and risk management frameworks

Exam Success

70%

of candidates have generally passed the Level 1 Examination in the last 12 months

Industry

60%

of candidates in the industry are working in non-insurance roles which is the true essence of enterprise risk management

Features of the Level 1 Curriculum

Global risks

Risk culture and maturity

Identification, assessment, mitigation of risks

Risk appetite

Risk frameworks

Black swan events

Entry Criteria for the IRM's Global Level 1 Enterprise Risk Management Course in India

Candidates enroling for the Level 1 Examination can be:

Student Exam: Students who have successfully completed XII grade with no full time work experience
Professional Exam: Working professionals who have successfully completed graduation and have full time work experience in any field/sector (except risk management)

No background or knowledge of mathematics or finance is required for learning enterprise risk management.

If you are a working professional with 2-3 years experience in risk management, then it is advisable you enrol for IRM's Level 2 examination. Click here

Duration of the IRM's Global Level 1 Enterprise Risk Management Course in India

The time taken to complete the Level 1 Examination is a maximum of two months’ subject to the candidate passing the examination in the first attempt. The resit examinations are conducted quarterly.
The average study duration for the Level 1 Exam is 60 hours. Depending on the learning path chosen by the candidates, the duration of self-study and live training will vary.
Candidates will get access to 8 hours of live virtual sessions covering Handbook Part I only. Preparation from the remaining resources including Part II of the Handbook, will be on a self-study basis.

Core Modules in the IRM's Global Level 1 Enterprise Risk Management Course

Enterprise risk management is applicable for everyone as it goes beyond finance and insurance and covers the following:

Geopolitical and Country Risks
Financial and Operational Risks
Technology and Cyber Risks
Environmental and Sustainability Risks
Social and People Risks
Governance and Compliance Risks
Other risks like Reputation, Branding, Marketing, Supply Chain

As the economy becomes more complex, organisations find themselves confronting an increasing array of risks that can affect their businesses significantly. From investigating cyber risks, climate change, pandemics and fraud to co-ordinating intricate supply chains and operational risk; an effective enterprise risk management system is increasingly seen as a cardinal for businesses in all sectors. The Level 1 Examination curriculum blends very well with your current education or work and draws parallels from real-life examples, empowering you with the tools and techniques to identify and manage any kind of risks. The curriculum for the Level 1 examination covers:

Unit 1

Introduction

Understanding risk maturity
Understanding the risks around us
Global interconnected events
Case studies on business failures

What is Risk?

Learn how to define risk
Understanding how risk management can be used to both maximise opportunities and minimise threat
Understanding the principles and processes of risk management
Establishing the attributes of effective risk management

Context and Objectives

Understanding the purpose and scope of risk management
Establishing the relevant risk framework including roles and responsibilities and policies
Develop an awareness of risk appetite
Global ERM frameworks i.e. IRM's Professional Standards, ISO 31000, COSO Framework - 2004 and 2017

Unit 2

Risk Assessment

Identification techniques
Assessing risk and selecting appropriate actions and controls using key tools, such as risk registers, risk bow-ties and risk matrices
Practically applying risk assessment using case studies to identify and analyse

Risk Action

Understanding risk treatment plans
Recognising control effectiveness
Awareness of business resilience

Communication and Reporting

Techniques to keep the risk management process alive
Develop and appreciation of effective risk reporting
Communicate risk to all levels and to external stakeholders

Unit 3
(applicable for the February 2023 examination and beyond only)

Introduction to the Extended Enterprise

Complex 21st Century Organisations
Modelling the extended enterprise

Leadership and governance

Ethics and behaviour
Building collaborative relationships
Sector collaboration

Challenges

Communications challenges
Assurance challenges
Checklist

Study Resources for the IRM's Global Level 1 Enterprise Risk Management Course in India

You will gain access to a variety of study tools and resources to help you prepare for the exam. The table below will help candidates in understanding the relevance and weightage of the study materials in the Examination.

Study Resources	Study Support
Handbook Part I - ERM	50%
Handbook Part II - Extended Enterprise	25%
Past Paper Questions	15%
Case Studies and Other Materials	10%

The table below will help candidates in understanding various study resources available under both options.

Resources	Available under Self-Study Option
Handbook Part I - ERM (Student Version and Professional Version)	Yes
Basic Live Virtual Study Support Sessions on Handbook Part I (recordings available subsequently)	Yes
Basic Revision Question Booklet	Yes
International Webinars	Yes
e-Resource Center	Yes
Handbook Part II - Extended Enterprise	Yes
Detailed Training on Handbook Part I	X
Detailed Training on Handbook Part II	X
Revision Sessions and Doubt-Solving	X
Mock Tests and Latest Exam Question Banks	X
Case Studies and Examples	X
Additional Certificate and Academic Credits	X

Application Timeline for the IRM's Global Level 1 Enterprise Risk Management Exam and Certification

The Level 1 examination is conducted online four times a year (February, May, August, and November) on the last Sunday of the respective month. Resit exams are conducted every month on the last Sunday of the respective month. The results are announced within 15 days of the exam date.

Upon registration and successful payment of fees, you will get access to the resources mentioned under the 'Study Resources' section. The study support sessions under the self-study option for Students and Professionals are conducted as per the dates given below.

August 2026

Student/Professional Exam

30th
August 2026

Study support dates for this examination are on 25th & 26th July, 2026
(Student & Professional - 4pm to 8pm)
Last date to enrol - 24th July, 2026

Enrolment Closed

November 2026

Student/Professional Exam

29th
November 2026

Study support dates for this examination are on 24th & 25th October, 2026
(Student & Professional - 4pm to 8pm)
Last date to enrol - 23rd October, 2026

Enrol Now

February 2027

Student/Professional Exam

28th
February 2027

Study support dates for this examination are on 30th & 31st January, 2027
(Student & Professional - 4pm to 8pm)
Last date to enrol - 24th December, 2026

Enrol Now

May 2027

Student/Professional Exam

30th
May 2027

Study support dates for this examination are on 24th & 25th April, 2027
(Student & Professional - 4pm to 8pm)
Last date to enrol - 26th March, 2027

Enrol Now

Examination Structure for IRM's Global Level 1 ERM Exam and Certification

The table below will help candidates in understanding the relevance and weightage of the study materials in the Examination.

Study Resources	Exam Weightage
Handbook Part I - ERM	50%
Handbook Part II - Extended Enterprise	25%
Past Paper Questions	15%
Case Studies and Other Materials	10%

The Level 1 examination is online, application-based with multiple-choice questions. Questions from previous examinations are available in the study materials. Candidates are permitted two additional resits. Check the Level 1 Re-sit Policy under the "Policies" Tab for further details. The results are announced within 15 working days from the examination date. The format of the examination for students and professionals is different.

Mode	Online, link will be sent on email 2 days prior to the examination
Format	25 to 35 questions depending on the score points Multiple choice Application based questions (including case studies) One qualitative essay-based question (only one question of 20 score points with an answer expected to be within 200 words)
Duration	90 minutes i.e. One hour, thirty minutes 4 PM IST to 5:30 PM IST The last Sunday of February / May / August / November
Technology Requirements (Detailed instructions regarding technology shall be available on the enrolment completion page)	Laptop / desktop Good internet connectivity with a backup internet connection Fully functional inbuilt microphone Fully functional webcam
Browser Requirements	All other windows / tabs must be closed All electronic study materials / webinars must be closed All activities during the exam will be strictly monitored
Optional Requirements	Notepad Pen
Scoring	600-750 depending on the score assigned for each question in each exam attempt No negative marking Answering all questions is mandatory
Required Pass Percentage	50% to 60% depending on the examination attempt and difficulty level Generally about 70% students pass the Level 1 Examination

Enrolment Process for IRM's Global Level 1 Enterprise Risk Management Exam and Certification

Select your preferred examination month under the Enrolment page
Complete the registration form including payment of fees and access the following on the registration completion page

Download the study materials
Complete the Risk Management Aptitude Test (RMAT)
Register for the study support sessions applicable for the selected examination

Candidates will also receive an email with the above instructions after payment of the fees

Fee Structure for IRM's Global Level 1 Enterprise Risk Management Exam and Certification in India

Student and Professional Exam

Global fee: GBP 945 + VAT

Subsidised fees: INR 35,000

Inclusive of 18% GST

Contact Exam Reservations Office for the Group Discount Programme if you plan to register and study in a group

Fees include RMAT, access to learning resource center with e-materials and international webinars, study support with live online sessions, Level 1 examination, hardcover handbook and hardcover revision question booklet couriered to your preferred address (only for Indian candidates), certification and alumni membership fee

Enrol Now

Resources

Scroll to view all

Handbook Part I - ERM

Basic Live Virtual Study Support Sessions on Handbook Part I

Basic Revision Question Booklet

International Webinars

e-Resource Center

Handbook Part II - Extended Enterprise

Eligibility Requirements for the IRM's Global Level 1 Enterprise Risk Management Course in India

Students must pursue the Level 1 Student Exam before proceeding for the Level 2 Examination.

If you are a working professional with no or less than 2 years' risk management experience, the Level 2 examination would be extremely challenging / difficult, and instead of making a huge investment, it is recommended that you pursue the Level 1 Professional Exam as:

1. It will help you understand all concepts through training / resources and gauge whether Level 2 and beyond is the right path for you
2. It will provide a solid foundation to be successful at Level 2

If you are a working professional with 2-3 years experience in risk management, then it is advisable you enrol for IRM's Level 2 examination. Click here

Need guidance from our Exam Reservations Team?

Working professionals can submit this form to get feedback on whether Level 2 would be the right starting point:

Fill The Form

Withdrawal Policy for the Level 1 Examination

We recognise that a change of circumstances may mean that a candidate has to withdraw from their course of study. Candidates may request for a withdrawal of their enrolment within three (3) working days from the date of payment of the part enrolment OR complete enrolment fees, as the case may be. Requests for withdrawals will be considered on a case-to-case basis, only if the following conditions are fulfilled:

1. IRM India Affiliate has received the request of a candidate for withdrawal of the enrolment within three (3) working days from the date of payment of the part enrolment OR complete enrolment fees, as the case may be; AND

2. Candidate has NOT appeared for the RMAT aptitude test; AND

3. Candidate has not attended any of the live study support sessions.

In the event ALL of the above conditions are fulfilled, then IRM India Affiliate will consider a request for withdrawal of the candidate’s enrolment. Please note, any decision on withdrawal of enrolment, is at the sole discretion of IRM India Affiliate and all decisions by IRM India Affiliate as regards withdrawal of enrolments are final and binding on the candidates.

If a candidate's request for withdrawal is considered by IRM India Affiliate, then a refund of the fees actually paid by the candidate and received by IRM India Affiliate (less) an administrative fee of INR 10,000 (including GST) will be processed by IRM India Affiliate to the student. Kindly note, all refunds shall be processed by IRM India Affiliate to the candidate, within thirty (30) days from the date on which the candidates’ withdrawal request is approved by IRM India Affiliate.

No refunds will be granted after the said three (3) days cooling off period, and the enrolment fees will not be refundable under any circumstances whatsoever, even in the event of a medical condition or any other extreme circumstances. Enrolment fees are non-transferrable. Please refer to the Deferral Policy in the event of a medical condition / extreme circumstances.

[NOTE FOR CANDIDATES MAKING PART PAYMENT: If a candidate has made part payment of the enrolment fees AND such candidate has not made a request for withdrawal of his enrolment within three (3) working days from the date of payment of such part enrolment fees, then such candidate’s enrolment is final and complete, and he/she cannot seek to withdraw their enrolment at all, and IRM India Affiliate shall under no circumstances whatsoever be liable to refund the part enrolment fees to such candidates. In such circumstances, the candidate can either make balance payment of their enrolment fees and appear for the Level 1 Examination OR opt out completely without any refund of the part enrolment fee]

Please note that the withdrawal policy for the Level 1 examination is NOT APPLICABLE to candidates who are paying for the Level 1 examination in EMIs over a duration, through IRM India Affiliate’s education finance partner or independently, and once enrolled, such candidates CANNOT withdraw their enrolment under any circumstances whatsoever.

In case you would like to request a withdrawal, please write an email to admissions@theirmindia.org. Candidates seeking withdrawal of their enrolment must mandatorily attach a copy of their invoice with such a request.

Deferral Policy for the Level 1 Examination

After a candidate has enrolled for the Level 1 Examination for a particular month, he/she cannot defer his examination to the next or another month.

However, a request for deferral of the Level 1 Examination to the next or another month are considered on a case to case basis, and only in the event of one of the following, impacting the candidate or a member of his/her family member:

life-threatening illness (candidate or immediate family member) in the month of the exam;
death of a candidate’s family member;
mandatory military service (candidate only) in the month of the exam;
pregnancy (candidate only); or
natural disaster (affecting candidate’s local area) that prevents the candidate from appearing for the exam.

The candidates’ “family member” shall mean and include only the candidate’s parent, grandparent, sibling, spouse or child. In such a case, a request for deferral of the Level 1 Examination must be received by IRM India Affiliate within five (5) working days after the exam. Any decision on deferrals is at the sole discretion of IRM India Affiliate and all decisions by IRM India Affiliate as regards deferrals are final and binding on candidates. Candidates awarded a deferral by IRM India Affiliate, shall be liable and responsible to pay any and all differential fees, if any.

In case you are looking to seek an exam deferral, please email examination@theirmindia.org. Candidates seeking an exam deferral, must mandatorily provide supporting documentation with such a request.

Resit Policy for the Level 1 Examination

Candidates are permitted a maximum of three (3) consecutive attempts (including the original attempt), to successfully complete the Level 1 Examination.

The Level 1 Examination is conducted quarterly in February, May, August, and November. Re-sits are conducted within these quarterly examination cycles, and attempts are counted in consecutive cycles following the first attempt. Failure to clear the examination and/or appear for any scheduled examination as a “no show”, will be counted as an attempt.

For example:
If a candidate undertakes their first attempt in February, the subsequent attempts will fall in May and August, irrespective of whether the candidate appears for the scheduled exam.

The Level 1 fee includes examination fee for two attempts (the original attempt and one resit). In the event a candidate is unsuccessful in these two attempts, a fee of INR 6,000 + GST shall be applicable for the third and final attempt. Upon payment of the third attempt resit fee, candidates will be permitted to re-attend the Live Study Support Sessions corresponding to the third and final attempt at no additional cost.

If a candidate is unable to successfully clear the Level 1 examination within three (3) consecutive attempts, the candidate will have to re-enrol and pay the complete Level 1 Examination fee.

Lost or Misplaced Certificates Reissuance Policy

After a certificate has been issued by the IRM to a candidate for successful completion of the Examination, it cannot be re-issued under ordinary circumstances. However, requests for re-issuance of certificates are considered on a case-to-case basis and only in the event of one of the following: (i) irretrievable loss of the original certificate (for instance, theft or permanent misplacement); (ii) significant physical damage (such as fire, water, or other irreparable harm) rendering the certificate unusable; (iii) an officially recognized legal name change after the certificate was issued; or (iv) a documented administrative error on the part of the Institute.

In such cases, a request for reissue of the certificate must be received by the IRM India Affiliate within ten (10) working days from the date the candidate discovers or reasonably should have discovered the loss, damage, or applicable legal change. Any decision on reissuance lies solely at the discretion of IRM India Affiliate, and all such decisions are final and binding on the candidate. Candidates whose requests are granted are liable and responsible for payment of the applicable fees for reissuance of certificate (click here to complete payment for the re-issuance of your certificate).

In case you are looking to seek a reissued certificate, please email examination@theirmindia.org. Candidates seeking reissuance must mandatorily provide valid supporting documentation (for example, a statement describing the circumstances of loss or damage, or proof of name change), so we can consider your request for a re-issuance.

Level 1 | Fundamentals of Risk Management (FoRM) Course | 140+ countries recognition

ISO 31000, COSO 2004 & 2017, ERM Process, 300+ types of risk

Level 1

Notable Alumni

Khushboo Wadhwa

February 2024

Akshay Kumar Subham

August 2024

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August 2024

Chirag Bansal

May 2024

Manan Bansal

February 2024

Jay Tanna

February 2024

Lipi Chatterjee

November 2023

Kaveesh Somalingam

February 2024

Rohan Tank

June 2023

Prachi Pohane

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Enquire Now

Level 1

Overview of the IRM's Global Level 1 Enterprise Risk Management (ERM) Exam and Certification

Features of the Level 1 Curriculum

Global risks

Risk culture and maturity

Identification, assessment, mitigation of risks

Risk appetite

Risk frameworks

Black swan events

Entry Criteria for the IRM's Global Level 1 Enterprise Risk Management Course in India

Duration of the IRM's Global Level 1 Enterprise Risk Management Course in India

Core Modules in the IRM's Global Level 1 Enterprise Risk Management Course

Introduction

What is Risk?

Context and Objectives

Risk Assessment

Risk Action

Communication and Reporting

Introduction to the Extended Enterprise

Leadership and governance

Challenges

Study Resources for the IRM's Global Level 1 Enterprise Risk Management Course in India

Application Timeline for the IRM's Global Level 1 Enterprise Risk Management Exam and Certification

Examination Structure for IRM's Global Level 1 ERM Exam and Certification

Enrolment Process for IRM's Global Level 1 Enterprise Risk Management Exam and Certification

Fee Structure for IRM's Global Level 1 Enterprise Risk Management Exam and Certification in India

Eligibility Requirements for the IRM's Global Level 1 Enterprise Risk Management Course in India

Withdrawal Policy for the Level 1 Examination

Deferral Policy for the Level 1 Examination

Resit Policy for the Level 1 Examination

Lost or Misplaced Certificates Reissuance Policy

Enrol for the Level 1 Examination at the earliest to start preparing using the IRM study resources. The last date of enrolment for the Level 1 examination (Feb/May/Aug/Nov) is mentioned under Application Timelines and Key Dates.