IRM International Certificate

Level 5 - International Certificate in Enterprise Risk Management

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About this exam

The Level 5 International Certificate in Enterprise Risk Management is an Ofqual-regulated qualification awarded by the Institute of Risk Management (IRM), regulated since September 2023. It is designed for anyone seeking a solid foundation in the theory and practice of effective risk management, from newcomers to experienced professionals looking to formalise their expertise. The qualification is delivered online through two modules, each requiring approximately 180–200 hours of study, and is assessed via a multiple-choice exam and essay assignments. It can be taken as a stand-alone certificate or as the first part of the International Diploma in ERM. The syllabus covers the principles and concepts of risk and risk management, including international standards such as ISO, COSO, and the Orange Book, risk frameworks, risk appetite, governance, and organisational resilience. It also addresses the practice of risk management, focusing on aligning risk frameworks with strategy, sustainability, embedding risk management, and the competencies required of risk professionals. Assessment includes a 60-question multiple-choice exam lasting 90 minutes, plus three 2,000-word essay assignments (one for Module 1 and two for Module 2). To prepare, candidates should engage with the IRM's Virtual Learning Environment, core textbook, and optional blended learning workshops, which have been associated with higher pass rates. The certificate is internationally recognised and can enhance career prospects in risk management.

What you'll study

Common questions

About IRM International Certificate preparation

What is the format of the assessment?

Assessment combines a multiple-choice exam and essay assignments. The exam consists of 60 MCQs to be completed in 90 minutes, taken in person at a Pearson Test Centre. Additionally, you must submit one 2,000-word essay for Module 1 and two 2,000-word essays for Module 2.

How difficult is the qualification?

The difficulty varies by individual. Each module requires approximately 180–200 hours of study, and the pass mark is set after each session to ensure fairness. Students who join Blended Learning typically achieve 14–18% higher pass rates compared to self-study candidates, indicating that structured support can improve success.

Can I retake the exam if I fail?

Yes. All students have 3 consecutive attempts to complete the course. If you fail or are absent, you can apply for a resit at an additional cost: £175.00 per exam and £100.00 per assignment. Access to the VLE is revoked until the resit fee is paid.

How long does it take to complete the certificate?

The qualification typically takes 6 to 9 months to complete, depending on when you enrol. Each module requires approximately 180–200 hours of study. There are two assessment sessions per year, and you have three consecutive attempts to complete all assessments.

What is the recommended study order?

You should study Module 1: Principles of Risk and Risk Management first, as it provides the foundation. Then progress to Module 2: Practice of Risk Management. The MCQ exam covers Module 1 content, while assignments test both modules. Completing all units to 100% unlocks the assignment questions 12 weeks before the deadline.

What are common failure modes?

Common pitfalls include insufficient preparation time, misunderstanding risk frameworks, poor essay structure, and not engaging with the VLE resources. Failing to submit assignments by the deadline or not completing all units can also lead to failure. Utilising blended learning and practising with sample MCQs can help mitigate these risks.

Are there any entry requirements?

There are no formal entry requirements. However, if English is not your first language, IRM recommends an Academic IELTS score of 6.0 (with no elements less than 5.5) or equivalent. All students must be at least 19 years old at the time of assessment.

What does the course fee cover?

The fee covers access to the Virtual Learning Environment, unit guides, essential readings, discussion forums, module coach support, webinars, sample MCQs, online resource centre, dedicated student support, IRM student membership, and discounts on training courses. Core textbooks are not included and must be purchased separately.

Can I defer my exam or assignment?

As standard policy, the IRM does not offer deferrals. If you miss your scheduled exam or assignment deadline, you will be marked as absent and will need to pay a resit fee to sit the next session. All students have three consecutive attempts to complete the course.