PRMIA 8008 Exam Questions : 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 is not a credit event under ISDA definitions?

A) Restructuring
B) Rating downgrade
C) Failure to pay
D) Obligation accelerations

2. The estimate of historical VaR at 99% confidence based on a set of data with 100 observations will end up being:

A) the weighted average of the top 2.33 observations
B) None of the above
C) the worst single observation in the data set
D) the extrapolated returns of the last 1.64 observations

3. When modeling severity of operational risk losses using extreme value theory (EVT), practitioners often use which of the following distributions to model loss severity:
I. The 'Peaks-over-threshold' (POT) model
II. Generalized Pareto distributions
III. Lognormal mixtures
IV. Generalized hyperbolic distributions

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

4. Which of the following distributions is generally not used for frequency modeling for operational risk

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

5. If the systematic VaR for an equity portfolio is $100 and the specific VaR is $80, then which of the following is true in relation to the total VaR:

A) Total VaR is $20
B) Total VaR is $180
C) Total VaR is greater than $180
D) Total VaR is less than $180

Solutions: