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. The 10-day VaR of a diversified portfolio is $100m. What is the 20-day VaR of the same portfolio assuming the market shows a trend and the autocorrelation between consecutive periods is 0.2?

A) 100
B) 141.42
C) 200
D) 154.92

2. There are two bonds in a portfolio, each with a market value of $50m. The probability of default of the two bonds are 0.03 and 0.08 respectively, over a one year horizon. If the default correlation is 25%, what is the one year expected loss on this portfolio?

A) $11m
B) $5.26m
C) $1.38m
D) $5.5mc

3. 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 and IV
B) II and III
C) III and IV
D) I, II and IV

4. Who has the ultimate responsibility for the overall stress testing programme of an institution?

A) Senior Management
B) The Risk Committee
C) Business Unit leaders
D) The Board

5. A risk analyst attempting to model the tail of a loss distribution using EVT divides the available dataset into blocks of data, and picks the maximum of each block as a data point to consider.
Which approach is the risk analyst using?

A) Fourier transformation
B) Expected loss approach
C) Peak-over-thresholds approach
D) Block Maxima approach

Solutions: