Canadian Risk Management CRM56 — Risk Financing — Information & Free Practice
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Exam Review
About Canadian Risk Management CRM56 — Risk Financing
Canadian Risk Management CRM56 — Risk Financing · CA
Key exam facts
- Provider
- RIMS (Risk and Insurance Management Society) manages the standardized Canadian CRM exam and registration; delivery uses The Institutes' virtual learning management system. Content is based on The Institutes' CRM-56 Risk Financing, Edition 6.
- Format
- Virtual multiple-choice knowledge examination on The Institutes' learning management system; two sections of 50 and 20 questions.
- Exam questions
- Total questions: 70.
- Time limit
- 1 hour 40 minutes (100 minutes) of standard exam time. Additional time for qualifying accommodations is available on request; extra time is complimentary.
- Passing score
- 70% is the passing score; a pass/fail message appears upon completion.
- Exam fee
- Per exam: USD 205 for RIMS members; USD 225 for non-members. Separate from course tuition and the USD 125 designation registration fee. Qualifying additional exam time is complimentary.
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
How to prepare
Work through the topics, read the explanation after each answer, and revisit the areas where you miss questions. Use the official outline and reference materials below to guide your study.
These independent practice questions are not actual exam items and do not guarantee a passing result.
Frequently asked questions
What is the exam format?
Virtual multiple-choice knowledge examination on The Institutes' learning management system; two sections of 50 and 20 questions.
How many questions are on the exam?
Total questions: 70.
How long is the exam?
1 hour 40 minutes (100 minutes) of standard exam time. Additional time for qualifying accommodations is available on request; extra time is complimentary.
What is the passing score?
70% is the passing score; a pass/fail message appears upon completion.
How much does the exam cost?
Per exam: USD 205 for RIMS members; USD 225 for non-members. Separate from course tuition and the USD 125 designation registration fee. Qualifying additional exam time is complimentary.
Official sources and references
- RIMS CRM Eligibility
Risk Financing — Topics covered
- RIMS CRM Eligibility
Books used by the three corresponding exams
- RIMS CRM Exam Information
Canadian Risk Management — Exam Information
- RIMS CRM Exam Information
Exam Process
- RIMS CRM Exam Registration
Registration Fees Per Exam
- RIMS CRM Exam Accommodations
How do I set up testing accommodations?
- RIMS CRM Exam Information
Exam access
Confirm current exam arrangements with the exam provider.