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PRMIA 8008 Exam Syllabus Topics:
| Section | Weight | Objectives |
|---|---|---|
| Topic 1: Risk Management Frameworks | 20% | - Regulatory Frameworks & Basel Accords - Risk Governance & Culture - Risk Measurement Methodologies - Enterprise Risk Management Principles |
| Topic 2: Credit Risk | 20% | - Credit Risk Concepts - Credit Risk Modeling & Capital Calculation - Exposure & Probability of Default - Loss Given Default & Credit Valuation Adjustment |
| Topic 3: Counterparty Risk | 15% | - Potential Future Exposure - Netting, Collateral & Margining - Credit Value Adjustment (CVA) & Wrong-way Risk - Counterparty Credit Risk Fundamentals |
| Topic 4: ALM & FTP | 10% | - Asset-Liability Management Principles - Interest Rate Risk in the Banking Book - Liquidity Risk Management - Funds Transfer Pricing Methodology & Application |
| Topic 5: Operational Risk | 20% | - Definition & Scope - Control & Mitigation Techniques - Risk Identification & Assessment - Capital Requirements & Advanced Measurement Approaches |
| Topic 6: Market Risk | 15% | - Interest Rate, Equity, FX & Commodity Risk - Value-at-Risk (VaR) & Stress Testing - Regulatory Capital for Market Risk - Market Risk Factors & Drivers |
PRMIA PRM Certification - Exam III: Risk Management Frameworks, Operational Risk, Credit Risk, Counterparty Risk, Market Risk, ALM, FTP - 2015 Edition Sample Questions:
Under the internal ratings based approach for risk weighted assets, for which of the following parameters must each institution make internal estimates (as opposed to relying upon values determined by a national supervisor):
- A. Probability of default
- B. Loss given default
- C. Effective maturity
- D. Exposure at default
Correct Answer: A 🗳️
Explanation: Only visible for Test4Cram members. You can sign-up / login (it's free).
When combining separate bottom up estimates of market, credit and operational risk measures, a most conservative economic capital estimate results from which of the following assumptions:
- A. Assuming that market, credit and operational risk estimates are uncorrelated
- B. Assuming that market, credit and operational risk estimates are perfectly negatively correlated
- C. Assuming that the resulting distributions have a correlation between 0 and 1
- D. Assuming that market, credit and operational risk estimates are perfectly positively correlated
Correct Answer: D 🗳️
Explanation: Only visible for Test4Cram members. You can sign-up / login (it's free).
Which of the following statements are correct:
I. A training set is a set of data used to create a model, while a control set is a set of data is used to prove that the model actually works II. Cleansing, aggregating or ensuring data integrity is a task for the IT department, and is not a risk manager's responsibility III. Lack of information on the quality of underlying securities and assets was a major cause of the collapse in the CDO markets during the credit crisis that started in 2007 IV. The problem of lack of historical data can be addressed reasonably satisfactorily by using analytical approaches
- A. I, III and IV
- B. II and IV
- C. I and III
- D. All of the above
Correct Answer: C 🗳️
Explanation: Only visible for Test4Cram members. You can sign-up / login (it's free).
The probability of default of a security during the first year after issuance is 3%, that during the second and third years is 4%, and during the fourth year is 5%. What is the probability that it would not have defaulted at the end of four years from now?
- A. 84.93%
- B. 12.00%
- C. 88.00%
- D. 88.53%
Correct Answer: A 🗳️
Explanation: Only visible for Test4Cram members. You can sign-up / login (it's free).
When the volatility of the yield for a bond increases, which of the following statements is true:
- A. The VaR for the bond decreases and its value is unaffected
- B. The VaR for the bond increases and its value stays the same
- C. The VaR for the bond decreases and its value increases
- D. The VaR for the bond increases and its value decreases
Correct Answer: B 🗳️
Explanation: Only visible for Test4Cram members. You can sign-up / login (it's free).
