The FRM is a globally recognized certification in Financial Risk Management conferred by Global Association of Risk Professionals (GARP). The certification is awarded to candidates passing the FRM examination conducted by GARP. The exam is graded based on an aggregate score of all the students. There is no defined minimum score in order to pass the exam. Nor is the score broken down by sections. After the completion of the exam, the students are provided with score in relation to what sections they did better on for future reference and how they did in comparison to their peers. There is no fixed breakdown of questions that might be theoretical versus numerical problems.