GARP Certification Cost Explained: FRM, SCR, and RAI Fees for the Current Cycle

How much does a GARP certification cost?

It depends which GARP credential and who you are to GARP. The FRM costs 600 USD early or 800 USD standard per exam part - two parts - plus a one-time 400 USD enrollment fee for new candidates. The SCR and RAI certificates share one ladder for the April 2027 window: 525 USD early and 625 USD standard for existing FRM, RAI, or ERP holders, 550 and 650 for GARP Individual Members, and 650 and 750 for non-members, plus applicable taxes.

The timing lever is real money: booking early instead of standard saves 100 to 200 USD per sitting on every program. Early registration for the April 2027 SCR and RAI windows opens December 1, 2026 and closes January 31, 2027; the same dates open early registration for the May 2027 FRM. All figures below come from GARP's fees and logistics pages retrieved 2026-10-22.

What do the SCR and RAI exams cost?

The two certificate programs share an identical ladder, priced by candidate status rather than by exam. For the April 2027 windows - SCR April 17-21, RAI April 3-11 - the fees pages list FRM, RAI, or ERP credential holders at 525 USD early and 625 USD standard, GARP Individual Members at 550 and 650, and Non-Members at 650 and 750. The October 2027 windows carry the same ladder with early registration opening May 1, 2027. Applicable taxes such as VAT or GST are added at payment based on location.

The status pricing creates a genuine strategy question. RAI registration includes a six-month complimentary GARP Individual Membership for eligible new candidates, applied automatically in the cart - which then moves future exam bookings to the member tier. Candidates planning both certificates should sequence with that in mind: an existing FRM, RAI, or ERP holder already books at the lowest tier, so the FRM-first route quietly discounts everything after it.

Registration is not just a seat. SCR registration includes GARP Learning access with the full current curriculum, two full-length practice exams, and the SCR Climate PAL tool; RAI registration includes the full curriculum and a practice exam. The printed book for either program costs 100 USD plus shipping for registered candidates - 300 USD for non-candidates - so the book alone is a reason to register before buying materials.

What does the FRM cost?

The FRM is the expensive one, and it is priced per part. For the 2027 windows, GARP's FRM fees page lists Part I and Part II at 600 USD early and 800 USD standard each, plus a one-time 400 USD enrollment fee charged to new FRM candidates when they register for Part I. A new candidate taking both parts at early pricing in 2027 is therefore budgeting 600 + 600 + 400 = 1,600 USD before taxes; at standard pricing the same path runs 2,000 USD.

The FRM calendar is the widest of the three programs: November 2026 (Part I November 14-20, Part II November 21-25) is closed; May 2027 (Part I May 8-13, Part II May 15-17) opens early registration December 1, 2026; August 13-14, 2027 compresses both parts into AM and PM sessions; November 2027 rounds out the year. One cost-relevant caveat that belongs on any FRM budget line: the FRM logistics page routes candidates to PSI test centers - ATA centers in China Mainland, Hong Kong SAR China, and Thailand - and lists no online-proctored format, so the sitting carries test-center logistics that the SCR and RAI do not.

What do retakes, deferrals, and refunds cost?

Retakes first, because this is where GARP's own pages currently disagree. The SCR and RAI Fees and Payments pages - both retrieved 2026-10-22 and both carrying the 2027 windows - state that candidates who do not pass, do not schedule, or schedule and do not sit can re-register at a one-time reduced price of 300 USD (SCR: either of the next two windows; RAI: the next administration window). The SCR FAQ, the RAI FAQ, and the RAI policies page still print 350 USD for the same rule. The fees pages are the operative schedules; confirm the figure at registration, and do not let an old blog post - or an old GARP FAQ - set your budget.

Deferrals are documented at different freshness. The RAI Exam Policies page is current and specific: one deferral to the next exam window, submitted by April 1 for an April window or October 1 for an October window, with a 150 USD administrative processing fee, and deferrals into the next calendar year include the updated curriculum at no additional cost. The SCR Exam Policies page describes a similar one-time deferral but is marked last revised December 1, 2020 - treat it as dated guidance and confirm current SCR deferral terms with GARP Member Services.

Refunds are narrow on both programs: requests must arrive within 48 hours of registration payment. Payment rails are credit card (MasterCard, Visa, Amex, Discover), Alipay, or wire and ACH transfers that each add a 50 USD processing fee. And the scheduling rule with cost consequences: GARP requires scheduling at least 48 hours before the desired start time, and candidates who fail to schedule or fail to appear forfeit the exam fee.

Does delivery mode change what you pay?

Not on the sticker - but it changes the risk around what you paid. GARP's SCR and RAI fees pages state that registered candidates choose between Pearson VUE's online proctoring and on-site testing centers at scheduling time, with no separate delivery surcharge published on the fee ladders. The online option is real and per-exam verified: Pearson's live GARP flow renders both the SCR exam (id 42366) and the RAI exam (GARPRandAI, id 53858) with In-person at a test center and Online with OnVUE options, without sign-in, as of 2026-10-22.

The FRM is the exception that keeps this guide honest. GARP's FRM logistics page routes candidates to PSI test centers - ATA in parts of Asia - with no online format listed, and no FRM exam appears in Pearson's GARP flow at all. Any budget that assumes a home sitting for the FRM is built on a delivery mode that does not exist for that exam. The delivery map lays out the full program-by-program picture.

The short version

Budget by program and by status. FRM: 600/800 USD per part plus a one-time 400 USD enrollment fee, test-center delivery through PSI. SCR and RAI: 525 to 750 USD by candidate status for April 2027, early registration December 1 through January 31, online or center delivery, a 300 USD one-time retake on the current fees pages, and a 150 USD deferral fee where the current RAI policy page documents it - all retrieved 2026-10-22.

If the sitting is the part you want handled, Exam Assist manages the SCR and RAI exams end to end - the registration, the delivery choice, the system checks, and the proctored sitting - and the service fee is due only after the agreed result posts. GARP's exam fees are separate and are settled through the official registration path either way. Start at the booking page or open the SCR and RAI service pages.