1. HOW TO EARN THE INVESTOR RELATIONS CHARTER

To earn the Investor Relations Charter (IRC)® applicants must meet each of the following four requirements:

1) Pass the IRC examination.
 
2) Meet one of the following educational and professional work experience options:
OPTION 1: U.S. bachelor’s degree or equivalent with three or more years of qualifying full-time work experience as an IR corporate professional or IR counselor.
OPTION 2: Six years of qualifying full-time work experience as an IR corporate professional or IR counselor.
OPTION 3: Hold a current certification relevant to IR practice with three or more years of qualifying full-time work experience as an IR corporate professional or IR counselor.

3) Achieve at least seven of the following eleven IR domains of practice with a publicly traded company as an IR corporate professional or IR counselor:
 
Domain 1: IR Strategy Formulation
Domain 2: Corporate Messaging Development
Domain 3: Investor Marketing and Outreach
Domain 4: IR Planning, Implementation and Measurement
Domain 5: Corporate Financial Reporting and Analysis
Domain 6: Business Insight
Domain 7: Strategic Counsel and Collaboration
Domain 8: Capital Markets and Capital Structure
Domain 9: Corporate Regulatory Compliance
Domain 10: Corporate Governance
Domain 11: Environmental, Social, and Governance (ESG)

4) Comply with the NIRI Code of Ethics and the IRC Code of Conduct.

RELEVANT WORK EXPERIENCE

  • At least 50% of duties should be directly focused on IR activities. Alternate work experience and paid IR internships will be evaluated on a case-by-case basis. 
  • NIRI membership is not a prerequisite for certification.


RELEVANT CERTIFICATIONS

Relevant Certifications to the investor relations practice include:
• Certified Public Accountant (CPA)
• Chartered Financial Analyst (CFA)
• Other certifications may be evaluated on a case-by-case basis.

SUPPORTING DOCUMENTS

Based on the eligibility option selected, one or more of the following documents must be submitted with the completed and signed exam application:

  • Current resume or curriculum vitae (CV) with detailed information about the IR qualifying work experience (required from all applicants).
  • Verification of work experience form or written statement from human resources department confirming the IR work experience stated in the application.

If you are not sure if you qualify, please send your application to certification@niri.org for a preliminary review and evaluation.

AUDIT PROCESS

NIRI certification staff will randomly audit a percentage of the IRC applications each year to verify the accuracy of the submitted information and supporting documents. When an application is audited, the applicant may be required to submit one or more of the following:
  • Copy of official diploma for all collegiate studies (if requested by NIRI).
  • If self-employed, a notarized self-declaration and proof from at least two established clients.
  • Official college transcripts evaluated by World Educational Services (WES) www.wes.org for international applicants.
  • Proof of active certification current status (i.e., certification card or copy of the certificate showing the current expiration date).

DO I HAVE TO BE A NIRI MEMBER TO REGISTER FOR THE PROGRAM?

While NIRI membership is highly encouraged, and while access to the various resources that NIRI makes available to members can only help a candidate in his/her preparation, NIRI membership is not a requirement either to register for the IRC Exam or to hold the IRC designation, and achieving certification does not constitute a NIRI membership. Discounts on the application, examination, and renewal fees are available to NIRI members. To become a NIRI member, visit www.niri.org/join.

I AM NOT YET ELIGIBLE TO EARN THE DESIGNATION

Candidates who successfully pass the IRC exam are given four (4) years to meet the work experience requirements and be awarded the IRC designation. During this transition period, successful candidates can ONLY represent themselves as IRC-Candidates.

CAN I BE GRANDFATHERED IN THE PROGRAM?

Grandfathering is defined as a process by which individuals are granted certification without being required to meet the formal examination requirements. Grandfathering is prohibited by the Certification Council.
The Certification Council does not award credentials to individuals who have not met the eligibility requirements and examination requirements. It is the policy of the Certification Council that only individuals who meet the eligibility requirements and successfully complete the examination requirements will receive the credential.

 2. COST

WHAT IS THE COST OF THE IRC EXAM?

The cost of the exam varies whether an applicant is a current NIRI member or not. If and applicant wishes to join NIRI prior to registering, the membership application must be processed separately prior to registering for the IRC Exam.

3. APPLICATION AND EXAM DATES

IS THERE A DEADLINE FOR EXAM APPLICATIONS?

There are no application deadlines. Applicants may submit their applicantions at any time. Once applications are approved and authorization notices received, they can then schedule their exam appointments.

WHEN WILL THE EXAM BE AVAILABLE AND HOW MUCH IS THE FEE?

 Exam Fees

Member fee: $1,095

Non-member fee: $1,295

Transfer/Rescheduling Fee

For members and non-members
(Applies when rescheduling their exam appointment more than once)

$125

Refund/Withdrawal Fee

For members and non-members 
(Applies to all refund requests if request is received before the testing appointment. No refunds allowed after scheduling the exam appointment)

$200

Examination Retake Fee

For members and non-members 
(Applies to all exam retakes)

$250

HOW CAN I APPLY FOR THE EXAM?

Interested IR professionals need to submit the exam application, required supporting documents, and fees online . Online applications can be accessed by following 2 simple steps: 1) Log on to your NIRI Profile, and 2) follow the link to My Certification . It is an easy, fast, and secure process.  PDF applications can be requested by contacting certification@niri.org.

4. TAKING THE EXAM

WHAT IS THE CONTENT OF THE EXAM?

  • Domain 1:   IR Strategy Formulation 13%
    Domain 2:   Corporate Messaging Development 13%
    Domain 3:    Investor Marketing and Outreach 12% 
    Domain 4:    IR Planning, Implementation and Measurement 10%
    Domain 5:   Corporate Financial Reporting and Analysis 10%
    Domain 6:   Business Insight 8%
    Domain 7:   Strategic Counsel and Collaboration 8%
    Domain 8:   Capital Markets and Capital Structure 8%
    Domain 9:   Corporate Regulatory Compliance 6%
    Domain 10: Corporate Governance 6%
    Domain 11: Environmental, Social, and Governance (ESG) 6%

WHAT IS THE MINIMUM PASSING SCORE FOR THE IRC EXAM?

The IRC Exam will be rigorous, but fair. The passing score is 112 correct answers of 160 scored questions. There are 10 pre-test questions that are not scored and will not affect your exam score. They are used for before inclusion in future exam forms.

HOW LONG IS THE EXAM?

The examination is three hours long and consists of 170 questions. It is administered in a live proctoring computer-based testing format (CBT) online and on demand.

WILL THE IRC EXAM BE ESSAY-BASED OR MULTIPLE-CHOICE?

The IRC Exam will be computer-based and will have a multiple-choice format. Test takers will read through case studies and scenarios that closely resemble real-world situations and challenges encountered by investor relations practitioners. Test takers then will be asked a series of associated questions that compel them to make judgments and apply investor relations principles in selecting the best answers.

IN WHAT LANGUAGE IS THE EXAMINATION OFFERED?

The IRC is U.S.-based program and the IRC examinations are administered in English only worldwide.

WHAT IF I HAVE SPECIAL NEEDS?
NIRI and its testing partners comply with the Americans with Disabilities Act (ADA) and strive to ensure that no individual with a disability is deprived of the opportunity to take the examination solely by reason of that disability. NIRI will provide reasonable accommodations for applicants with disabilities. Applicants requesting special accommodations must call NIRI at +1 703-562-7700 for detailed inforamtion and instructions.

WHAT IF I CANNOT ATTEND THE EXAM I REGISTERED FOR?

All refunds and application withdrawal requests must be submitted in writing to NIRI. A non-refundable  administrative fee applies to all refund requests. Applicants wishing to withdraw their examination applications may receive a refund less the applicable administrative fee if the refund request is received before the testing appointment.

All fees are subject to change. Cancellations and requests for refunds must be submitted in writing to NIRI c/o Investor Relations Charter (IRC)®.

NO-SHOW AND MISSED APPOINTMENT

If an applicant does not appear to take a scheduled exam appointment will be considered a no-show. The applicant will be required to submit the rescheduling fee and follow the exam appointment process one more time. The candidate will forfeit all fees if s/he miss the appointment more than once. The full application process need to be followed in order to sit for the IRC exam in the future.

WHAT ARE THE SECURITY RULES FOR TAKING THE EXAM?

Certain behaviors are prohibited, including but not limited to the activities listed below:

  • Complete a room scan with the presence of a live proctor will be required before the exam can begin by using the webcam to view the entire room and workspace.
  • Be in a well-lit environment and the face must be clearly visible throughout the exam.
  • Remain in the center of the webcam frame throughout the exam.
  • Refrain from wearing hats, sunglasses, hoods, or anything that obscures the view of your face.
  • Webcam, speakers, and microphone must remain on throughout the test.
  • Exams are proprietary. No note pads, tape recorders, watches, smart watches, pagers or cellular/smart phones are allowed in the room where the test is being taken. Possession of any electronic device is strictly prohibited and will result in dismissal from the exam.
  • No guests, visitors or family members are allowed in the room where the test is taken.
  • No questions concerning the content of the exam may be asked during the exam.
  • Only drinking water is permitted while the exam is being administered. The water bottle should not have any labels on it.

MISCONDUCT

If an applicant engages in any of the following conduct during the exam they may be dismissed, scores will not be reported, and exam fees will not be refunded. Examples of misconduct are when an applicant:
  • Creates a disturbance, are abusive or otherwise uncooperative with the proctor
  • Displays and/or use electronic communications devices such as pagers, cellular/smart phones
  • Talks or participate in conversation with others
  • Gives or receive help or are suspected of doing so
  • Leaves the room during the exam administration
  • Attempts to record exam questions or make notes
  • Attempts to take the exam for someone else
  • Is observed with personal belongings
  • Is observed with unauthorized notes, books or other aids
  • Takes the exam for any reason other than the purpose of seeking certification.

CHEATING

Any applicant failing to adhere to any of the rules listed above will be considered guilty of cheating and will not be allowed to continue the exam. Fees are forfeited and no score will be given. Incidents may be referred to the NIRI Certification Council for adjudication.

COPYRIGHTED EXAM QUESTIONS

All test-related materials including the exam questions, forms, and other information are the exclusive intellectual property of NIRI. Accordingly, none of these confidential materials is available for review by anyone other than the NIRI certification staff and designated committees.
 
It is forbidden under federal copyright law to copy, reproduce, record, distribute or display these exam questions by any means, in whole or in part. Doing so may subject the applicant to severe civil and criminal penalties.

6. EXAM RESULTS
HOW LONG WILL IT TAKE TO RECEIVE MY RESULTS?

Applicants will receive their provisional exam result from Prolydian within 3 business days after completing the exam. The official results will be released by NIRI within a reasonable time frame. The time period needed before releasing the exam results involves reviewing the security recordings, reviewing applicants’ comments, and conducting a quality check.  Test takers are responsible for promptly notifying NIRI of any mailing address or rmail address changes.

WHAT HAPPENS AFTER I PASS?

Candidates who pass the exam will receive their scores from Prolydian and a certification package from NIRI. NIRI may issue a press release listing the names of all candidates that passed the exam. All certified individuals will be listed on the NIRI website under the Certification Directory and are authorized and encouraged to use the IRC acronym to denote certification on business cards, letterhead, with their signature, etc. Certification is considered valid for three years. At the time it becomes necessary to renew certification, a renewal notice from NIRI will be sent to all certificants.

WHAT HAPPENS IF I DON'T PASS?

Test takers who did not successfully complete the IRC examination will receive a letter from NIRI and be given a diagnostic report on their performance. This report identifies the knowledge areas in which the applicant's performance is deficient and is intended to help the applicant become better prepared before retaking the examination. 

MAY I REQUEST A MANUAL RECHECK OF MY EXAM RESULTS?

Hand scoring or manual recheck is routinely done by Prolydian before releasing the results of each exam. If an applicant wishes to request an additional review and have their test be hand scored, the applicant must submit a request toNIRI within 15 days of receiving the examination results. A $25 fee must be submitted with this request (checks made payable to NIRI).

ARE THERE PROCEDURES FOR CHALLENGES AND APPEALS?

Applicants wishing to challenge a particular item on the examination must submit the Appeal/Challenge Form to NIRI certification staff within 15 days of taking the examination. Applicants must provide as much detail as possible regarding the item(s) they wish to challenge. Applicants wishing to appeal the final score of their examination must submit the Appeal/Challenge Form to NIRI certification staff within 15 days of receiving the examination results.
Applicants will be contacted if additional information is needed, or when a decision has been reached. 


7. PREPARATION

HOW DO I PREPARE FOR THE EXAM?

The IRC Exam is based on professional practice and, as such, it is expected that the day-to-day engagement in the various disciplines that collectively compose the practice of investor relations will be a critical pre-requisite for success on the exam. The exam is built around the IR Competency Framework, and involves questions and scenarios from each of the 10 domains, including IR-related quantitative questions requiring mathematical calculations without the use of a calculator.

WHAT REVIEW COURSES AND STUDY GUIDES ARE AVAILABLE?

There are no study guides produced by the Certification Council, Certification Scheme Committee, or Examination Development Committee as this is considered a conflict of interest. The governing body does not sponsor or endorse any refresher course or study materials.

The primary IRC reference book, Investor Relations Body of Knowledge has been developed by NIRI to give an indication of the scope and range of topics covered on the certification examination and to help users identify areas that require study and preparation. Because the IRC Exam is experience-based, the Body of Knowledge is not intended, in and of itself, to be a sufficient study guide to attain the IRC certification.
IRC Sample exam questions are also available in the Certification Resources Library.

HOW DO I PURCHASE THE IR BODY OF KNOWLEDGE AND HOW MUCH DOES IT COST?

The IR Body of Knowledge is available for purchase on a print-on-demand basis through the NIRI website. The cost of the book is not included in the examination fee.  

8. MAINTAINING CERTIFICATION

WHAT MUST I DO TO MAINTAIN MY CERTIFICATION?

Requirements for maintaining certification include the accumulation of at least 30 professional development units (PDUs) reported every three years and payment of renewal fees. The first renewal application is not due until the end of the three-year certification period. Online renewal applications can be accessed through your NIRI Profile main page, by following the link to My Certification and then clicking on Certification Details. 

HOW DO I KNOW WHEN TO RENEW MY CERTIFICATION?

Certification renewals are anniversary-based. Please refer to the certification Directory to check the expiration date of your certification. A courtesy reminder will be sent to your attention, in the year your certification is to expire. Renewal will extend certification through the subsequent three years.

WHAT ARE PDUs?

A Professional Development Unit, or PDU, is a measuring unit used to quantify approved learning and professional service activities required for IRC renewal. Professional activities required to obtain PDUs are designed to be well within the reach of all active IR professionals. It is not necessary to spend a significant amount of money or to engage in difficult-to-accomplish activities in order to comply. More information about the wide variety of ways in which to achieve PDUs are available in the IRC Renewal Program Handbook.

SHOULD MY PDUs SPAN ALL THREE YEARS OF MY RENEWAL CYCLE?

PDUs may be spread over all three years on which you are reporting, or may be obtained exclusively in any one or two of the three reporting years. You can refer to the renewal schedule to determine your reporting period or renewal cycle.

MUST I HAVE PDUs IN ALL ACTIVITY CATEGORIES?

No. Refer to the IRC Renewal Program Handbook for detailed requirements and instructions.


HOW MUCH IS THE RENEWAL FEE?

Renewal fees must be submitted by the expiration date of your certification with appropriate and required documentation. All fees associated with the renewal program are non-refundable and can be found in the table below. 

Renewal Program Fees

Member Fee

$ 300

Non-member Fee

$ 450

Retired  status Fee

$ 125

Reactivation Fee

$ 250

Upgrade Application Fee
$125
 


WHAT IS THE REACTIVATION FEE?

A reactivation fee applies if renewal documents and fees are not submitted by the due date. This fee should be paid along with the renewal fee and application must be submitted for the corresponding triennial period. Failure to pay the reactivation fee will result in the certification remaining in an inactive status for one year, even if the renewal fee and application have been submitted.

WHAT IS THE RETIRED FEE?

Should a certificant at any time leave active employment in the IR field to pursue other interests of for major medical reasons, s/he may request to place the certification under retired status. If the status is granted, there is a maintenance fee for the three-year cycle. Retired status will be allowed for two renewal cycles only.

WHEN CAN I USE THE IRC DESIGNATION AFTER MY NAME?

You can start using the designation after meeting all four requirements to earn the Investor Relations Charter.

9. ADMINISTRATIVE

DOES NIRI INFORM MY EMPLOYER OF MY CERTIFICATION STATUS?

It is up to each individual to notify an employer or others regarding their certification exam status, unless requested by the individual. Upon request, staff will send a congratulatory letter to the employer identified by the certificant. Upon inquiry, staff will release information regarding the status of an individual’s certification only (i.e. certified or not certified, active or inactive, date certification expires, date certification was granted, and certification number or ID number). Information regarding scores and whether an individual took the exam will not be released.

HOW DO I SUBMIT A CHANGE OF LEGAL NAME AND ADDRESS?

Requests for legal name change on certification documents and records as a result of marriage, divorce, or court order must be submitted in writing to the certification staff at NIRI with a copy of the legal document and appropriate documentation of the name change. Requests for address change must be sent to the attention of the certification staff in writing as well.

WHO DO WE FORWARD OUR INQUIRIES TO?

Please submit all inquiries to NIRI certification staff at certification@niri.org or by calling +1-703-562-7688.

10. VOLUNTEERS

WHO IS OVERSEEING DEVELOPMENT OF THE IRC EXAM?

IRC Exam questions, as well as the answers, were developed through extensive work by the Examination Development Committee which is composed of volunteer investor relations professionals.

WHO IS RESPONSIBLE FOR OVERSIGHT OF THE IRC PROGRAM?

Oversight of all elements of the IRC program is the responsibility of the volunteer NIRI Certification Council, which operates independent from the NIRI Board of Directors.

HOW CAN I BECOME INVOLVED AS A VOLUNTEER WITH THIS PROGRAM?

If you are interested in becoming a volunteer member of the certification program council or committees, please contact NIRI certification staff at certification@niri.org.