PRMIA 8010 Exam : Operational Risk Manager (ORM) Exam

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PRMIA 8010 Exam Syllabus Topics:

PRMIA Operational Risk Manager (ORM) Sample Questions:

1. Which of the following credit risk models focuses on default alone and ignores credit migration when assessing credit risk?

A) CreditPortfolio View
B) The contingent claims approach
C) The CreditMetrics approach
D) The actuarial approach

2. 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) 0 to 200 errors in a day
B) 60 to 80 errors in a day
C) 80 to 120 errors in a day
D) 90 to 110 errors in a day

3. Under the actuarial (or CreditRisk+) based modeling of defaults, what is the probability of 4 defaults in a retail portfolio where the number of expected defaults is2?

A) 18%
B) 2%
C) 9%
D) 4%

4. Which loss event type is the loss of personally identifiableclient information classified as under the Basel II framework?

A) External fraud
B) Technology risk
C) Clients, products and business practices
D) Information security

5. Which of the following is true for the actuarial approach to credit risk modeling (CreditRisk+):

A) The approach is based upon historical rating transition matrices
B) Default correlations between obligors are accounted for using a multivariate normal model
C) The approach considers only default risk, and ignores the risk to portfolio value from credit downgrades
D) The number ofdefaults is modeled using a binomial distribution where the number of defaults are considered discrete events

Solutions: