PRMIA 8008 real exam prep : PRM Certification - Exam III: Risk Management Frameworks, Operational Risk, Credit Risk, Counterparty Risk, Market Risk, ALM, FTP - 2015 Edition

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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. Which of the following statements are true:
I. Capital adequacy implies the ability of a firm to remain a going concern II. Regulatory capital and economic capital are identical as they target the same objectives III. The role of economic capital is to provide a buffer against expected losses IV. Conservative estimates of economic capital are based upon a confidence level of 100%

A) I, III and IV
B) III
C) I and III
D) I

2. A stock's volatility under EWMA is estimated at 3.5% on a day its price is $10. The next day, the price moves to $11. What is the EWMA estimate of the volatility the next day? Assume the persistence parameter = 0.93.

A) 0.0224
B) 0.0429
C) 0.0421
D) 0.0018

3. For a corporate bond, which of the following statements is true:
I. The credit spread is equal to the default rate times the recovery rate II. The spread widens when the ratings of the corporate experience an upgrade III. Both recovery rates and probabilities of default are related to the business cycle and move in opposite directions to each other IV. Corporate bond spreads are affected by both the risk of default and the liquidity of the particular issue

A) IV only
B) I, II and IV
C) III only
D) III and IV

4. Which of the following introduces model error when basing VaR on a normal distribution with a static mean and standard deviation?

A) All of the above
B) Volatility clustering
C) Autocorrelation of squared returns
D) Heavy tails

5. Under the basic indicator approach to determining operational risk capital, operational risk capital is equal to:

A) 25% of the average gross income (considering only the positive years) of the past three years
B) 15% of the average net income (considering only the positive years) of the past three years
C) 15% of the average gross income of the past five years
D) 15% of the average gross income (considering only the positive years) of the past three years

Solutions: