Should GARP cancel the FRM Exams because of the coronavirus? : Reasons For & Reasons Against
The FRM 2020 exams are slotted for May, but with the Coronavirus scare, it’s a wait and see attitude for most candidates. GARP might have to cancel the FRM level 1 and level 2 pencil and paper tests, or maybe not. Here are arguments for both sides.
Reasons for FRM Exam Cancellation May 2020
The FRM exams require candidates to be in shared physical spaces
The CDC warns that everyone must stay as far as 6 feet away from infected individuals. It can be hard to tell who is infected with COVID 19 and who is not. The exam centers for FRM level one and two exams could be a high-risk environment, given that they are shared spaces with close sitting arrangements. Don't use plagiarised sources.Get your custom essay just from $11/page
Already, many schools and institutions of higher learning have shut down. Many others are shifting to online classes. The preparation phase of the FRM exam may proceed without any impact from coronavirus because the certification program doesn’t involve in-class training. However, having to show up at a physical location to take the FRM exams could be a major health risk.
Exam room checks
There are must-haves before candidates step into the FRM exam rooms. There are also prohibited items. Just like with any other exam center, candidates are often closely inspected before being allowed into the FRM exam rooms. This close contact with other individuals and the exam’s supervisors might elevate your risk of getting the disease.
Exam supervisors are at risk
The FRM exam officials handle pens, pencils, and the exam papers before and after candidates take the test. The interactions with these things and each candidate makes them a high risk for the COVID 19. If the exams continue as planned, these supervisors would have to wear face masks and gloves to safeguard their health and limit the risk of transmitting contamination from one candidate to another.
Infected students may be left out
At the current rate of spread of the disease, many FRM candidates around the world may be infected by the time the FRM exams come around. There is no time for a COVID 19 patient to sit for any exam. At that point, your health supersedes every other thing in life—you must be in quarantine under close watch by health specialists. Infected candidates have to stay out of the exam room to avoid infecting other students.
There is travel involved to get to the FRM exam centers
There is only one FRM exam center for every city in the US and one center per country outside the US. What that means is that these exam centers might not only be a little crowded but also that candidates have to travel from far to get to the stations.
Not every FRM candidate owns a car. Taking public means of transport increases your risk of contracting the virus. You would then unknowingly go on to infect every other candidate in the exam center.
Some cities and countries are under lockdown
Some cities across the world have imposed a total lockdown as a measure against the spread of the disease. Nonessential travel has been restricted. Rome is already becoming a ghost city from such a lockdown. Businesses are closed. Transport is halted. If there is an FRM candidate in such a city, getting to the exam center would be problematic.
It’s not just about keeping candidates safe; it is keeping communities safe
Canceling the FRM exams until a medical solution, the COVID 19 is the right step for candidates,
examiners, and the general population. When you put off such gatherings as is the case with exam centers, you reduce the mixing of healthy people with possibly infected individuals. When everybody stays at home, the vectors of circulation get removed from the equation, which helps to slow down the pandemic.
Remember, too, that FRM candidates and examiners have families that they go back to after the exam. Some of these family members could be high-risk populations for COVID 19, including the elderly and those that have underlying health issues and low immunity. Physical contact with an infected candidate after the exam can spread the disease like wildfire.
Reasons Against the FRM Exam Cancellation May 2020
There could be significant successes in the control of the outbreak by the time the exams come around
Gloves are off by everyone from the medical world to policymakers and everyday citizens in the fight against the COVID 19. As everyone takes better care of their health, scientists are also working round the clock for a vaccine. On March 12, US health officials announced that human testing for a potential coronavirus vaccine could start in a few weeks.
There is currently no vaccine or approved pharmacological interventions against the coronavirus. However, non-medical measures such as public awareness,
hand sanitization, and quarantine may significantly help to thwart the spread of the disease.
Infected candidates/examiners will be in quarantine or self-quarantine
With the increased public awareness of COVID 19, everyone is carefully watching their health. Testing facilities have been mounted everywhere across the nations. It’s easier right now to know if you have the coronavirus. Infected people are obligated to stay at home or in a hospital quarantine. In that case, healthy FRM candidates should show up for the exam without fear.
There is life after the COVID 19
The SARS pandemic of 2002 came and went. The H1N1 pandemic of 2009 similarly came and went, and life did not cease to exist. Economic and socio-political models still operate the same way, and education does too. Getting on with the FRM exams, regardless of the COVID 19 pandemic, maybe the gesture of hope that everyone needs right now.
As it gets warmer, COVID 19 infection rates will significantly slow
It’s colder now in the Northern hemisphere, and countries like the US, Italy, and China have more cases of COVID 19 as a result. Viruses thrive and spread more when it’s colder. Countries south of the globe have so far zero or very fewer cases of COVID 19 infections. It is possible then that as the rest of the world moves closer to summer, there will be very few new infections from COVID 19.
Panic does not much the risk
The closure of business, schools, and transport systems that we are currently witnessing across the world is precautionary but primarily driven by panic. Every time you cross the road, you have a higher risk of being hit by a truck than you the chance of dying from the coronavirus. But do you cease to cross the road because of that?
In that same way, education and career advancement must proceed. The FRM exams should, therefore, happen as is the case every year.
Do you worry about the flu that much? Possibly not. No one ever quit school for fear that the influenza virus was apocalyptic. Now consider this: the influenza virus kills more people than the coronaviruses. More than 1 billion influenza infections happen every year, leading up to 646,000 deaths across the world. Just as you keep safe from the flu, you could use the same measures to avoid the COVID 19 infection before, during, and after the FRM exams.
GARP can take relevant measures to protect students and examiners
Just like it is happening at all essential public gathering right now, the use of hand sanitizers and face masks at the exam centers may help to safeguard the health of candidates.
Hand washing, scientists have confirmed, is a useful precautionary measure against the disease that spreads pretty much like the flu. The examination body can also rethink sitting arrangements in the exam centers to reassure candidates and minimize the risk of COVID 19.
GARP can make data-driven decisions regarding postponement or special exams
One can expect that the GARP institute being a globally respected body in the field of finance, will make a decision that prioritizes the health of candidates and examiners around the world. Currently, many institutions and societal systems are in panic mode from the COVID 19 outbreak, but GARP is probably closely monitoring the situation and analyzing data.
The decision they make will rely on the infection rates around the examination dates and the impact on the safety and mobility of candidates and examiners. At the moment, there has been no news from GARP about the cancellation of the exams. They may announce a change of dates, but not a complete cancellation.
Affected and Infected candidates can reschedule
FRM test centers in COVID 19 hot spot cities may have to be closed. In that case, affected FRM candidates might be given a chance to reschedule their exams or change to alternative exam centers. These two options will ensure that candidates in non-affected areas get to sit for their exams as planned. On the other hand, potentially sick candidates, or those in closed-off cities will get a chance to find new test centers or sit for the exams at a later date.
The bottom line
The COVID 19 outbreak is real and scary. Infection rates are rising, people are dying, and scientists are worried. Should the FRM exams be canceled, or should they proceed as planned? There are compelling arguments for both sides. Whatever decision GARP comes up with, be sure to watch out for your health. Use these measures from the World Health Organization.
https://www.who.int/emergencies/diseases/novel-coronavirus-2019/advice-for-public