PRMIA 8008

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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 distributions is generally not used for frequency modeling for operational risk

A) Poisson
B) Gamma
C) Binomial
D) Negative binomial

2. Regulatory arbitrage refers to:

A) the practice of investing and financing decisions being driven by associated regulatory capital requirements as opposed to the true underlying economics of these decisions
B) the practice of structuring a financial institution's business as a bank holding company to arbitrage the differing capital and credit rating requirements for different business lines
C) the practice of transferring business and profits to jurisdictions (such as those in other countries) to avoid or reduce capital adequacy requirements
D) All of the above

3. What is the 1-day VaR at the 99% confidence interval for a cash flow of $10m due in 6 months time? The risk free interest rate is 5% per annum and its annual volatility is 15%. Assume a 250 day year.

A) 109031
B) 5500
C) 1744500
D) 85123

4. For a corporate issuer, which of the following can be used to calculate market implied default probabilities?
I. CDS spreads
II. Bond prices
III. Credit rating issued by S&P
IV. Altman's scoring model

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

5. If a borrower has a default probability of 12% over one year, what is the probability of default over a month?

A) 12.00%
B) 1.06%
C) 1.00%
D) 2.00%

Solutions: