Certified Quantitative Risk Management Certification Program and Designation with the IIPER


Click here to download the CQRM brochure
Click here for DIRECTIONS to training locations and hotels in the area
  • Jan 16 -19, 2018 in Kuala Lumpur, Malaysia
  • Jan, 2018 in Monterey, California
  • Feb 6-9, 2018 in Kuala Lumpur, Malaysia
  • Apr 3-6, 2018 in Kuala Lumpur, Malaysia
  • May 8-11, 2018 in Kuala Lumpur, Malaysia
  • May, 2018 in Lima, Peru
  • Jun 4-8, 2018 in Hull, United Kingdom
  • Aug 2018 in Medellin, Colombia
  • Oct 16-19, 2018 in Kuala Lumpur, Malaysia
  • Nov 13-16, 2018 in Kuala Lumpur, Malaysia
  • Dec 4-7, 2018 in Kuala Lumpur, Malaysia
  • Dec 13-16, 2017 - Washington DC, USA
  • Dec 12-15, 2017 - Dhahran, Saudi Arabia
  • Nov 15-28, 2017 - Dhahran, Saudi Arabia
  • Oct 20-23, 2017 - San Francisco, USA
  • Sep 14-18, 2017 - Cartagena, Colombia
  • Aug 26-29, 2017 - Kuala Lumpur, Malaysia
  • Jun, 2017 - Monterey, California, USA
  • Apr, 2017 - Caracas, Venezuela
  • Max, 2017 - Monterey, California, USA
  • Nov, 2016 - San Francisco
  • Jan, 2016 - San Diego
  • Feb, 2016 - Hong Kong
  • Mar, 2016 - Quantico, Virginia
  • Apr, 2016 - Dahlgren, Virginia
  • Apr, 2016 - Caracas, Venezuela
  • May, 2016 - Bogota, Colombia
  • Jun, 2016 - Santiago, Chile
  • Aug, 2016 - Lima, Peru
  • Sep, 2015 - Mexico City, Mexico
  • Oct, 2015 - Caracas, Venezuela
  • Nov, 2015 - Bogota, Colombia
  • Jan, 2015 - Hong Kong
  • Feb, 2015 - New York
  • April, 2015 - Sao Paolo, Brazil
  • June, 2015 - Caracas, Venezuela
  • Aug, 2015 - Lima, Peru
  • Sep, 2015 - Monterey, California

Real Options Valuation, Inc. is the global preferred provider for the International Institute of Professional Education and Research (IIPER) and our firm has been granted the rights to teach the CQRM IIPER certification courses. On completion of our 4-day seminar and the successful completion of a live test administered on the last day, participants will be granted the CQRM designation! Real Options Valuation, Inc. is one of only three organizations in the world with rights to grant this CQRM designation.

So, how do our seminars compare to others? Surprisingly, our 4-day training seminars are lower in price than other so-called simulation courses, and, at the completion of the training, you will receive your CQRM-IIPER designation, something that other firms cannot provide. You will not only learn the practical applications of risk analysis, but also the theoretical underpinnings of these applications. In addition, the training will be conducted by the exclusive CQRM-IIPER designated trainer, Dr. Johnathan Mun, founder and CEO of Real Options Valuation, Inc. Dr, Mun is a professor; a world-renowned expert on risk analysis; and author of 12 books on the topics of risk, valuation, and strategy; as well as the developer of our Risk Simulator and Real Options SLS software. Compare that to being trained by a fresh college graduate with fewer than two years of experience at other firms or a general MBA with insufficient grounding in the theory/application of risk analysis.


The key advantages of attending one of our seminars are as follows:

  • Obtain the Certified Quantitative Risk Management or CQRM (IIPER) designation.
  • Learn from real experts in the field with the best credentials and hands-on expertise and experience, not from a group of unqualified trainers.
  • Get it straight from the source! The main seminar instructor is the creator of the Risk Simulator and Real Option Super Lattice Solver (SLS) software, the author of 12 books on the topics of risk modeling, real options, and valuation. He is also a professor in finance and economics, a consultant to many multinationals, and known globally for his expertise in risk analysis and real options.
  • Get free books, training models and examples, videos, course slides, and many other getting started materials.

The prerequisite for the CQRM-IIPER program is a minimum of a Bachelor's degree or its equivalent and 2 years of experience in financial analysis. Knowledge of basic Excel modeling is a plus but not required.

The IIPER, Accreditation, and CQRM (IIPER) Worldwide Recognition

The International Institute of Professional Education and Research (IIPER) is a global institute with partners and offices around the world including the United States, Switzerland, Hong Kong, Mexico, Portugal, Singapore, Nigeria, Malaysia, and others. CQRM-IIPER certification is accredited by the National Certification Commission, and IIPER is a member of the prestigious AACSB (Association for the Advancement of Collegiate Schools of Business). AACSB is one of the largest U.S. accreditation agencies recognized by the U.S. Department of Education and has over 500 business schools around the world as its members. Further, IIPER's seminars are approved by the Project Management Institute, Inc (PMI)®, and participants can also obtain 30 professional development units (PDU) on completion of the course. IIPER's International Standards Board comprises professors from various universities including Lehigh University (Pennsylvania), University of Applied Sciences (Switzerland), Naval Postgraduate School (California), University of Missouri (Kansas City), and others. IIPER also has strategic alliances and collaborations with various research institutions around the world.

CQRM (IIPER) Seminar Curriculum and Detail

MODULE 1: Introduction to Risk Analysis

  • Chapter 1: Introduction to the Training and What to Expect
  • Chapter 2: How Are Business Decisions Made?
  • Chapter 3: What is Risk and Why Should Risk be Considered?
  • Chapter 4: Overview of Risk Analysis Software Applications

MODULE 2: Monte Carlo Simulation with Risk Simulator

  • Chapter 1: Overview of Risk Simulator Software
  • Chapter 2: Profiling, Assumptions, Forecasts and Running Simulations
  • Chapter 3: Interpreting the Forecast Statistics
  • Chapter 4: Simulation Run Preferences and Seed Values
  • Chapter 5: Running Reports, Saving and Extracting Simulation Data

MODULE 3: Advanced Simulation Techniques

  • Chapter 1: Correlating and Truncating Distributions
  • Chapter 2: Alternate Parameters
  • Chapter 3: Multidimensional Simulations
  • Chapter 4: Distributional Fitting
  • Chapter 5: Due Diligence and Pitfalls in Simulation

MODULE 4: Simulation and Analytical Tools

  • Chapter 1: Static Tornado and Spider Charts
  • Chapter 2: Dynamic Sensitivity Analysis
  • Chapter 3: Hypothesis Test on Different Distributions
  • Chapter 4: Nonparametric Bootstrap Simulation

MODULE 5: Forecasting

  • Chapter 1: Overview of Forecasting Techniques and Data Types
  • Chapter 2: Forecasting Without Data
  • Chapter 3: Time-Series Analysis Forecasting
  • Chapter 4: Nonlinear Extrapolation
  • Chapter 5: Multivariate Regression Analysis
  • Chapter 6: Stochastic Processes
  • Chapter 7: Box-Jenkins ARIMA

MODULE 6: Real Options Analysis: Theory and Background

  • Chapter 1: Introduction to Real Options: What, Where, Who, When, How, and Why?
  • Chapter 2: Sample Applied Business Cases
  • Chapter 3: Overview of Options Valuation Techniques: Financial vs. Real Options
  • Chapter 4: Risk-Neutral Probability Technique
  • Chapter 5: Solving a Basic European and American Call Option
  • Chapter 6: Using Microsoft Excel to Solve a Basic European and American Call Option
  • Chapter 7: Solving Basic Abandonment, Expansion, Contraction, and Chooser Options

MODULE 7: Real Options Analysis: Application with SLS Software

  • Chapter 1: Overview of the Different SLS Modules and Volatility Estimates
  • Chapter 2: Volatility Estimates
  • Chapter 3: Solving Options with Changing Inputs and Customized Exotic Options
  • Chapter 4: MSLS: Multiple Sequential Compound Options
  • Chapter 5: MNLS: Solving Mean-Reverting, Jump-Diffusion, and Dual-Asset Rainbow Options using Trinomial, Quadranomial, and Pentanomial Lattices
  • Chapter 6: Framing Real Options-Structuring the Problem
  • Chapter 7: The Next Steps...

MODULE 8: Optimization with Risk Simulator

  • Chapter 1: Introduction to Optimization
  • Chapter 2: Continuous Optimization
  • Chapter 3: Integer Optimization


Dr. Johnathan Mun is the software's creator and teaches all these courses. He has consulted for many Fortune 500 firms on risk analysis, valuation, and real options, and has written a number of books on the topic, including Real Options Analysis: Tools and Techniques, 2nd Edition (Wiley Finance, 2005), Real Options Analysis Course: Business Cases (Wiley Finance, 2003), Applied Risk Analysis (Wiley, 2003), Valuing Employee Stock Options Under 2004 FAS 123 (Wiley, 2004), Modeling Risk: Applying Monte Carlo Simulation, Real Options Analysis, Forecasting and Optimization (Wiley, 2006), and others. He is the founder and CEO of Real Options Valuation, Inc., and is responsible for the development of analytical software products, consulting, and training services. He was formerly the VP of Analytics at Decisioneering, Inc., and was a Consulting Manager in KPMG's Global Financial Strategies. Dr. Mun is also a full professor at the U.S. Naval Postgraduate School and a professor at the University of Applied Sciences (Zurich and Frankfurt). He has a Ph.D. in finance and economics, an MBA in business administration, an MS in management science, and a BS in applied sciences. He is certified in Financial Risk Management (FRM), Certified in Financial Consulting (CFC), and Certified Quantitative Risk Management (CQRM-IIPER). He currently resides in California.


1. How much does the program cost?

The program plus CQRM-IIPER certification costs $2,995 per person. This price includes all the relevant training materials, training for 4 days, and the CQRM-IIPER certification costs. Unfortunately, there are no price discounts when purchased in quantity or with software as the costs are used to cover the CQRM-IIPER fees. Discounts are available on the software when purchased with the training. Please contact us for more information at admin@realoptionsvaluation.com.

2. How are the materials covered comparable to the 2-day Risk Analysis or 2-day Real Options Analysis courses?

In fact, the materials covered are exactly the same. Participants can attend the first 2 days or the last two days of the risk analysis or real options segments, or attend all 4 days and qualify for the CQRM-IIPER certification.

3. What test do I have to take, and what is its format and pass rate?

The test is a 50-question multiple choice format that covers the materials taught during the four days and is typically taken at the end of the course. In general, participants who attend all 4 days have a very high pass rate, averaging at 90%, as compared to participants who only attend 2 days (for whatever reason), with a pass rate of only 30%. So, if you attend all 4 days diligently and perform all the tasks in class, you are virtually assured of passing the final certification test.

4. Can I retake the test and how much does it cost to do so?

Yes. For individuals not successful in passing the test the first time, there is a retake opportunity and it is free if taken within 14 days. Otherwise, a processing fee of $50 is assessed. You can retake the test up to three times.

5. Can I get the CQRM-IIPER using the Training DVDs?

No. Only live seminar participants can obtain the CQRM-IIPER as live instruction and a test are required for the designation. You may elect to do the Training DVD and obtain similar information and knowledge at a lower price, but you are not allowed to take the test or receive the designation on that basis.

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