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PRMIA 8010 Exam Syllabus Topics:
| Section | Weight | Objectives |
|---|---|---|
| Topic 1: Operational Risk Capital | 6% | - Capital Concepts & Basel III Context |
| Topic 2: Risk Management Framework | 10% | - Risk Appetite, Policies, Culture |
| Topic 3: Introduction | 2% | - Overview of Operational Risk Management |
| Topic 4: Operational Resilience | 4% | - Resilience Concepts and Practices |
| Topic 5: Case Studies | 6% | - Applied Operational Risk Scenarios |
| Topic 6: Risk Governance | 6% | - Governance Principles and Risk Roles |
| Topic 7: Risk Information | 10% | - Loss Data, KRIs and Reporting |
| Topic 8: Compliance Risk | 6% | - Compliance Risk Framework |
| Topic 9: Risk Assessment | 10% | - Risk Identification and Assessment Techniques |
8010 Exam Facts: Choosing Wisely Among Materials
- Risk Management Framework (10%)
- Operational Risk Capital (6%)
- Case Studies (6%)
PRMIA Operational Risk Manager (ORM) Sample Questions:
The unexpected loss for a credit portfolio at a given VaR estimate is definedas:
- A. Actual Loss - VaR
- B. VaR - Expected Loss
- C. Actual Loss - Expected Loss
- D. max(Actual Loss - Expected Loss, 0)
Correct Answer: B 🗳️
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Under the contingent claims approach to measuring credit risk, which of the following factors does NOT affect credit risk:
- A. Maturity of the debt
- B. Volatility of the firm's asset values
- C. Leverage in the capital structure
- D. Cash flows of the firm
Correct Answer: D 🗳️
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Which of the following statements are true:
I. Credit VaR often assumes a one year time horizon, as opposed to a shorter time horizon for market risk as credit activities generally span alonger time period.
II. Credit losses in the banking book should be assessed on the basis of mark-to-market mode as opposed to the default-only mode.
III. The confidence level used in the calculation of credit capital is high when the objective is tomaintain a high credit rating for the institution.
IV. Credit capital calculations for securities with liquid markets and held for proprietary positions should be based on marking positions to market.
- A. I and III
- B. I and II
- C. II and III
- D. I, III and IV
Correct Answer: D 🗳️
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A portfolio has two loans, A and B, each worth $1m. The probability of default of loan A is 10% and that of loan B is 15%. Theprobability of both loans defaulting together is 1%. Calculate the expected loss on the portfolio.
- A. 240000
- B. 500000
- C. 250000
- D. 1000000
Correct Answer: C 🗳️
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The Altman credit risk score considers:
- A. A historical database of the firms that have survived
- B. A historical database of the firms that have defaulted
- C. A combination of accounting measures and market values
- D. A quadratic approximation of the credit risk based on underlying risk factors
Correct Answer: C 🗳️
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