Error : FRM-40010 Cannot Read From /path/form.fmx Error in 12c

Error : FRM-40010 Cannot Read From /path/form.fmx Error in 12c 

Cause :
New Forms 12c installation.
Expected behavior since Forms 12c version.

Solution :

Starting in Forms 12c there is a new environment variable called FORMS_MODULE_PATH that restricts the directories from which Forms applications may be launched.

If the directory where the form is being launched is not defined in FORMS_MODULE_PATH the FRM-40010 error is expected.

This same approach to run forms works fine in 11gR2 version.