<P> The concepts of financial risk management change dramatically in the international realm . Multinational Corporations are faced with many different obstacles in overcoming these challenges . There has been some research on the risks firms must consider when operating in many countries, such as the three kinds of foreign exchange exposure for various future time horizons: transactions exposure, accounting exposure, and economic exposure . </P> <P> FRM ® (Certified Financial Risk Manager Program) is an international professional certification offered by GARP (The Global Association of Risk Professionals). FRM certificants are to be found in more than 190 countries and territories worldwide . Successful candidates take an average of two years to earn their FRM Certification . FRMs are employed at major banks (Bank of America, Bank of China, ICBC ...) and corporates (Goldman Sachs, KPMG, Deloitte, PIMCO, JP Morgan, BlackRock ...). </P> <P> The FRM curriculum is updated annually by risk professionals employed internationally at major banks, asset management firms, hedge funds, consulting firms, and regulators . The Exam curriculum: </P> <Ul> <Li> The FRM Exam Part I covers the tools used to assess financial risk: Foundations of Risk Management, Quantitative Analysis, Financial Markets and Products, Valuation and Risk Models . </Li> <Li> The FRM Exam Part II focuses on the application of the tools acquired in the FRM Exam Part I through a deeper exploration of: Market Risk Measurement and Management, Credit Risk Measurement and Management, Operational and Integrated Risk Management, Risk Management and Investment Management, Current Issues in Financial Markets . </Li> </Ul>

Define the risk and explain the ways to overcome the financial risk