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PRMIA 8008 Exam Syllabus Topics:

PRMIA PRM Certification - Exam III: Risk Management Frameworks, Operational Risk, Credit Risk, Counterparty Risk, Market Risk, ALM, FTP - 2015 Edition Sample Questions:

1. The backtesting of VaR estimates under the Basel accord requires comparing the ex-ante VaR to:

A) realized profit and loss for the period
B) the Basel accord does not require banks to backtest VaR estimates
C) ex-ante VaR calculated for the subsequent periods
D) hypothetical profit and loss keeping the positions constant

2. A corporate bond maturing in 1 year yields 8.5% per year, while a similar treasury bond yields 4%. What is the probability of default for the corporate bond assuming the recovery rate is zero?

A) 4.50%
B) 8.50%
C) 4.15%
D) Cannot be determined from the given information

3. Under the standardized approach to calculating operational risk capital under Basel II, negative regulatory capital charges for any of the business units:

A) Should be included after ignoring the negative sign
B) Should be offset against positive capital charges from other business units
C) Should be excluded from capital calculations
D) Should be ignored completely

4. Which of the following carry greater counterparty risk: a forward contract on a 10 year note, or a commercial paper carrying a AA credit rating with identical maturity and notional?

A) The commercial paper has greater credit risk as the entire notional is outstanding
B) They both carry the same credit risk
C) The forward contract has greater credit risk as its future gains are unknown
D) Credit risk can not be compared in these terms

5. A risk analyst peforming PCA wishes to explain 80% of the variance. The first orthogonal factor has a volatility of 100, and the second 40, and the third 30. Assume there are no other factors. Which of the factors will be included in the final analysis?

A) First and Second
B) First, Second and Third
C) First
D) Insufficient information to answer the question

Solutions: