PRMIA PRM Certification 8008 Braindumps

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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:

Question 1

A bank expects the error rate in transaction data entry for a particular business process to be 0.005%. What is the range of expected errors in a day within +/- 2 standard deviations if there are 2,000,000 such transactions each day?

A. 60 to 80 errors in a day
B. 80 to 120 errors in a day
C. 0 to 200 errors in a day
D. 90 to 110 errors in a day

Question 2

Fill in the blank in the following sentence:
Principal component analysis (PCA) is a statistical tool to decompose a ____________ matrix into its principal components and is useful in risk management to reduce dimensions.

A. Covariance
B. Correlation
C. Positive semi-definite
D. Volatility

Question 3

A bank extends a loan of $1m to a home buyer to buy a house currently worth $1.5m, with the house serving as the collateral. The volatility of returns (assumed normally distributed) on house prices in that neighborhood is assessed at 10% annually. The expected probability of default of the home buyer is 5%.
What is the probability that the bank will recover less than the principal advanced on this loan; assuming the probability of the home buyer's default is independent of the value of the house?

A. More than 1%
B. 0
C. More than 5%
D. Less than 1%

Question 4

Which of the following decisions need to be made as part of laying down a system for calculating VaR:
I. The confidence level and horizon
II. Whether portfolio valuation is based upon a delta-gamma approximation or a full revaluation III. Whether the VaR is to be disclosed in the quarterly financial statements IV. Whether a 10 day VaR will be calculated based on 10-day return periods, or for 1-day and scaled to 10 days

A. II and IV
B. I and III
C. All of the above
D. I, II and IV

Question 5

Conditional VaR refers to:

A. expected average losses above a given VaR estimate
B. the value at risk estimate for non-normal distributions
C. expected average losses conditional on the VaR estimates not being exceeded
D. value at risk when certain conditions are satisfied

Solutions: