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PRMIA 8010 Exam Syllabus Topics:
| Section | Weight | Objectives |
|---|---|---|
| Topic 1: Risk Governance | 6% | - Governance Principles and Risk Roles |
| Topic 2: Compliance Risk | 6% | - Compliance Risk Framework |
| Topic 3: Operational Resilience | 4% | - Resilience Concepts and Practices |
| Topic 4: Case Studies | 6% | - Applied Operational Risk Scenarios |
| Topic 5: Operational Risk Capital | 6% | - Capital Concepts & Basel III Context |
| Topic 6: Risk Assessment | 10% | - Risk Identification and Assessment Techniques |
| Topic 7: Risk Information | 10% | - Loss Data, KRIs and Reporting |
| Topic 8: Introduction | 2% | - Overview of Operational Risk Management |
| Topic 9: Risk Management Framework | 10% | - Risk Appetite, Policies, Culture |
PRMIA Operational Risk Manager (ORM) Sample Questions:
1. If the default hazard rate for a company is 10%, and the spread on its bondsover the risk free rate is 800 bps, what is the expected recovery rate?
A) 8.00%
B) 40.00%
C) 20.00%
D) 0.00%
2. If the marginal probabilities of default for a corporate bond for years 1, 2 and 3 are 2%, 3% and 4% respectively, what is the cumulative probability of default at the end of year 3?
A) 9.58%
B) 9.00%
C) 91.26%
D) 8.74%
3. What does a middle office do for a trading desk?
A) Reconciliations
B) Operations
C) Risk analysis
D) Transaction data entry
4. Which of the following statements are true:
I. Credit risk and counterparty risk are synonymous
II. Counterparty risk is the contingent risk from a counterparty's default in derivative transactions III. Counterparty risk is the risk of a loan default or the risk from moneys lent directly IV. The exposure at default is difficult to estimate for credit risk as it depends upon market movements
A) I and II
B) II and III
C) II
D) III and IV
5. Which of the following statements are true:
I. A transition matrix is the probability of a security migrating from one rating class to another during its lifetime.
II. Marginal default probabilities refer to probabilities of default in a particular period, given survival atthe beginning of that period.
III. Marginal default probabilities will always be greater than the corresponding cumulative default probability.
IV. Loss given default is generally greater when recovery rates are low.
A) I and IV
B) II andIV
C) I, III and IV
D) I and III
Solutions:
| Question # 1 Answer: C | Question # 2 Answer: D | Question # 3 Answer: C | Question # 4 Answer: C | Question # 5 Answer: B |
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