The 126 scored, multiple-choice questions are from topic areas derived from the seven dimensions of the credit risk field as defined by RMA's Certification Steering Committee.
The exam has been designed to assess the knowledge of a commercial credit risk professional with a minimum of three years' active credit risk experience.
RMA's certification examination is a computer-based, 126-question (128 on the Canadian Exam), scored multiple-choice exam. The exam is composed of stand-alone questions, short scenarios (stories) followed by up to four questions, and long scenarios (stories) followed by up to 10 questions. Financial statements accompany the long scenarios. The entire exam is based on the concepts and experiences related to the credit risk field.
At the test center, before taking the actual exam, you will be offered a 15-minute computer tutorial and briefing. This is presented to familiarize you with computer-based exam procedures and the tabs you can use to access cash flow terms, ratios, and the on-screen calculator. Since no additional examination time is allocated to learn the computer, it is recommended that all applicants take the tutorial.
The total seat time in the examination room will be five and a half hours (for the exam) including 15 minutes (for the tutorial). No additional time is provided.
If you wish, you can raise your hand and request a break. Please be aware, however, that the clock will continue to run during the break.
Please note: An additional 15 to 20 pilot items may appear in random locations throughout the exam. Pilot items are new items that are being field tested for future exams. Pilot items are NOT used to calculate an examinee’s score.
The 126 scored examination questions (128 on the Canadian Exam) will focus on the following seven topics:
- Evaluate client industry, markets, and competitors.
- Assess management's ability to formulate business and financial strategies and execute them.
- Complete accurate, ongoing, and timely financial assessments of the client and its other credit sponsors.
- Assess strength and quality of client/sponsor cash flow.
- Evaluate collateral values and conduct periodic inspections of collateral.
- Identify repayment sources and appropriately structure and document credit exposures for their intended purpose (Loan Structure and Documentation).
- Be aware of problem loans and the appropriate actions to take.
Frequently Asked Questions (PDF)