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PRMIA 8008 Exam Overview:
| Certification Vendor: | PRMIA |
|---|---|
| Exam Name: | PRM Certification - Exam III: Risk Management Frameworks, Operational Risk, Credit Risk, Counterparty Risk, Market Risk, ALM, FTP (2015 Edition) |
| Exam Number: | 8008 |
| Exam Format: | Multiple choice |
| Related Certifications: | PRM Exam I PRM Exam II PRM Exam IV |
| Available Languages: | English |
| Recommended Training: | PRMIA Official Study Resources |
| Exam Registration: | PRMIA Certification Registration |
| Sample Questions: |  |
| Exam Way: | Computer-based exam (online or authorized test centers) |
| Pre Condition: | Typically requires completion of PRM Exam I and PRM Exam II before attempting Exam III as part of PRM designation requirements. |
| Official Syllabus URL: | https://www.prmia.org |
PRMIA 8008 Exam Syllabus Topics:
| Section | Objectives |
|---|---|
| Operational Risk | - Operational risk management techniques
|
| Risk Management Frameworks | - Risk measurement and reporting frameworks - Enterprise risk management principles
|
| Asset-Liability Management (ALM) | - Liquidity risk management - Interest rate risk in the banking book (IRRBB) |
| Market Risk | - Market risk measurement techniques
|
| Funds Transfer Pricing (FTP) | - Internal pricing of funds and liquidity allocation - FTP methodologies |
| Credit Risk | - Credit risk measurement and modeling
|
| Counterparty Risk | - Derivatives credit risk considerations - Netting and collateral management - Counterparty credit exposure |
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PRMIA sets the following prerequisites for the PRMIA PRM Certification - Exam III: Risk Management Frameworks, Operational Risk, Credit Risk, Counterparty Risk, Market Risk, ALM, FTP - 2015 Edition: Typically requires completion of PRM Exam I and PRM Exam II before attempting Exam III as part of PRM designation requirements..
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The PRMIA PRM Certification - Exam III: Risk Management Frameworks, Operational Risk, Credit Risk, Counterparty Risk, Market Risk, ALM, FTP - 2015 Edition blueprint is organized into these main domains:
- Credit Risk
- Operational Risk
- Asset-Liability Management (ALM)
Further domains complete the official outline, and our question bank spans all of them.
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PRMIA PRM Certification - Exam III: Risk Management Frameworks, Operational Risk, Credit Risk, Counterparty Risk, Market Risk, ALM, FTP - 2015 Edition Sample Questions:
An equity manager holds a portfolio valued at $10m which has a beta of 1.1. He believes the market may see a dip in the coming weeks and wishes to eliminate his market exposure temporarily. Market index futures are available and the current futures notional on these is $50,000 per contract. Which of the following represents the best strategy for the manager to hedge his risk according to his views?
- A. Buy 220 futures contracts
- B. Sell 200 futures contracts
- C. Sell 220 futures contracts
- D. Liquidate his portfolio as soon as possible
Correct Answer: C 🗳️
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Which of the following credit risk models relies upon the analysis of credit rating migrations to assess credit risk?
- A. The CreditMetrics approach
- B. KMV's EDF based approach
- C. The contingent claims approach
- D. The actuarial approach
Correct Answer: A 🗳️
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The definition of operational risk per Basel II includes which of the following:
I. Risk of loss resulting from inadequate or failed internal processes, people and systems or from external events II. Legal risk III. Strategic risk IV. Reputational risk
- A. II and III
- B. I, II, III and IV
- C. I and II
- D. I and III
Correct Answer: C 🗳️
Explanation: Only visible for Test4Cram members. You can sign-up / login (it's free).
Which of the following is not an example of a risk concentration?
- A. Location of a portfolio's assets in a single country but spread across different industries
- B. Material amounts of treasury obligations held as collateral provided by a single counterparty
- C. Large combined positions in assets affected by different risk factors that are highly correlated
- D. Origination of a large number of SIVs with exposures to the same asset class, where the SIVs are separate legal entities without recourse to the originator
Correct Answer: B 🗳️
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Which of the following statements are correct in relation to the financial system just prior to the current financial crisis:
I. The system was robust against small random shocks, but not against large scale disturbances to key hubs in the network II. Financial innovation helped reduce the complexity of the financial network III. Knightian uncertainty refers to risk that can be quantified and measured IV. Feedback effects under stress accentuated liquidity problems
- A. I, II and IV
- B. I and IV
- C. II and III
- D. III and IV
Correct Answer: B 🗳️
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