PRMIA PRM Certification - Exam III: Risk Management Frameworks, Operational Risk, Credit Risk, Counterparty Risk, Market Risk, ALM, FTP - 2015 Edition : 8008

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PRMIA PRM Certification - Exam III: Risk Management Frameworks, Operational Risk, Credit Risk, Counterparty Risk, Market Risk, ALM, FTP - 2015 Edition Sample Questions:

1. A risk management function is best organized as:

A) report independently of the risk taking functions
B) integrated with the risk taking functions as risk management should be a pervasive activity carried out at all levels of the organization.
C) reporting directly to the traders, as to be closest to the point at which risks are being taken
D) a part of the trading desks and other risk taking teams

2. As the persistence parameter under GARCH is lowered, which of the following would be true:

A) The model will react slower to market shocks
B) High variance from the recent past will persist for longer
C) The model will give lower weight to recent returns
D) The model will react faster to market shocks

3. Conditional default probabilities modeled under CreditPortfolio view use a:

A) Probit function
B) Logit function
C) Power function
D) Altman's z-score

4. Which of the following belong to the family of generalized extreme value distributions:
I. Frechet
II. Gumbel
III. Weibull
IV. Exponential

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

5. Which of the following statements are true with respect to stress testing:
I. Stress testing results in a dollar estimate of losses
II. The results of stress testing can replace VaR as a measure of risk as they are better grounded in reality III. Stress testing provides an estimate of losses at a desired level of confidence IV. Stress testing based on factor shocks can allow modeling extreme events that have not occurred in the past

A) II, III and IV
B) I and IV
C) I, II and IV
D) II and III

Solutions: