HomeARM™ CoursesARM 400 Study Guide
ARM™ Designation · Course 1 of 3
400

Risk in an
Evolving World

The foundation of enterprise risk management. ARM 400 establishes the framework, language, and thinking patterns that every ARM and CPCU exam builds on.

50 questions · 65 min · 70% to passVideo course · $99Free Chapter 1 trial
24/7 on-demand access · no expiration
Direct instructor access — call or text Erike
The only full-video ARM study program
Course Price
$99
One-time · lifetime access · no expiration
  • Full video lesson library
  • Course slide deck & supporting materials
  • Direct instructor access — phone, text, video
  • RM Community & Learning Hub access
  • Credit toward a future ARM live class
  • Or bundle all 3 ARM courses — $198
🔒 Secure checkout · No expiration on access
50
Questions per exam
65
Minutes to complete
70%
Score required to pass
Test windows per year

ARM 400 Exam Topics

ARM 400 is the conceptual foundation of the entire designation. Every subsequent ARM and CPCU course assumes you understand these frameworks.

The Risk Management Process
All five steps — identify, analyze, treat, monitor, and communicate — and how they interact in practice.
Types of Risk
Pure vs. speculative, hazard, operational, financial, and strategic risk. How organizations classify and categorize exposures.
Enterprise Risk Management (ERM)
ERM frameworks including ISO 31000, COSO, and how ERM integrates with organizational governance and strategy.
Risk Culture & Appetite
How organizations define risk appetite, risk tolerance, and embed risk thinking into day-to-day decision-making.
Emerging & Evolving Risks
Cyber, climate, supply chain, reputational, and geopolitical risk — why the risk landscape keeps changing and how to stay ahead.
The Risk Manager's Role
Where risk management sits in organizational structure, reporting relationships, and how it connects to leadership and the board.

ARM 400 Exam Fast Facts

Everything you need to know about the exam format before you register.

50
Questions per exam
65
Minutes · ~78 sec/question
70%
Minimum passing score
Test windows per year
Virtual
Online proctoring from home
MC
Multiple choice format

Test windows: Jan 15–Mar 15 · Apr 15–Jun 15 · Jul 15–Sep 15 · Oct 15–Dec 15. Register early through theinstitutes.org for an early-bird discount. The exam does not include the textbook — that must be purchased separately from The Institutes.

5 Tips to Pass ARM 400 the First Time

From Erike Young — who has taught hundreds of ARM 400 candidates through exactly these concepts.

1
Master the five-step process before anything else
Every ARM 400 scenario question ties back to one of the five risk management process steps. Before studying individual concepts, make sure you can describe each step and its purpose from memory. This is the skeleton everything else hangs on.
2
Learn the risk types with examples, not definitions
The exam will give you a scenario — a manufacturing plant, a hospital, a government agency — and ask you to classify the risk. Practice connecting each risk type to real-world situations. Pure vs. speculative is the most commonly tested distinction.
3
Understand ISO 31000 as a framework, not a checklist
ARM 400 tests ISO 31000 conceptually — why does it exist, what does it enable, how does it differ from other frameworks. Memorizing bullet points won't help. Understanding the purpose of each principle will.
4
Register for your exam window before you start studying
The candidates who say "I'll register when I feel ready" almost never feel ready. The deadline creates the structure. Register first through theinstitutes.org — then your 8-week study plan has a real endpoint to work toward.
5
Call or text Erike when you hit a wall
Direct instructor access isn't a marketing phrase here. When something isn't clicking — the ERM framework, risk appetite vs. risk tolerance, anything — reach out. A 15-minute conversation resolves what hours of re-reading won't.

What ARM Candidates Say

★★★★★

"I achieved the ARM in 5 weeks — only using your website as my study source. Your program is concise, to the point, and invaluable."

Jesse V., CSP, ARM-E
ARM & ARM-E Designation Holder
★★★★★

"The slides covered everything that was on the test. I wouldn't choose any better way to prepare for the exam. Thank you for your help and assistance."

Lilly M.
ARM Designation Holder
★★★★★

"Unlike other courses that recite the textbook, Erike provides context using real-life examples. Having trouble with a concept? He'll get on a call with you."

ARM Candidate
RM Study Group Student

Taught by Erike Young

EY
CPCUARM-EACRMCSPMPPA
Erike Young
Founder, Risk Management Study Group
Former Chair, U.S. Technical Advisory Group for ISO 31000

I built this program because the two biggest barriers between candidates and their designations — cost and schedule — are solvable problems. Every ARM 400 lesson uses real-world examples because understanding why risk management works the way it does is what makes the exam material stick. When you hit a concept that isn't clicking, you can call me directly. That's not an offer from a chatbot — it's a real conversation with someone who has helped hundreds of candidates through exactly where you are now.

Also Available

ARM 400 is the first of three courses required for the ARM designation. Bundle all three and save.

ARM™ 401
Holistically Assessing Risk
Risk registers, heat maps, probability analysis, exposure measurement
$99
ARM™ 402
Successfully Treating Risk
Risk transfer, insurance, captives, contractual risk transfer, TCOR
$99
ARM™ Bundle
All 3 ARM Courses
ARM 400 + ARM 401 + ARM 402 — everything to earn your ARM designation
$198 $297

ARM 400 FAQs

Do I need the textbook to take this course?
The RM Study Group course does not require the textbook. Our video lessons and slide decks cover the exam content thoroughly. The textbook is available from The Institutes at theinstitutes.org if you want it as a supplemental reference, but most students pass without it.
How long does ARM 400 take to complete?
Most candidates complete the course and are exam-ready in 6–8 weeks studying approximately 5 hours per week. Our course is structured around exactly this pace — one week per major topic area, with practice questions throughout.
Does ARM 400 access expire?
No — your access never expires. This is different from The Institutes' own materials which typically have a one-year limit. You can study at your own pace and return to the material anytime.
Is ARM 400 the right starting point for the CPCU?
If you're pursuing the ARM to CPCU Commercial Lines Pathway, yes — ARM 400 is the first course. It builds the risk management foundation that makes every CPCU course more intuitive. If you already hold your ARM, start with AIC 300 or CPCU 530.

Ready to Start ARM 400?

Join hundreds of ARM candidates who passed their exam with the Risk Management Study Group. The only full-video ARM study program available.

Questions? Email erikeyoung@armstudygroup.com or call/text Erike directly.