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

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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. If the returns of an asset display a strong tendency for mean reversion, what is the relationship between annualized volatility calculated based on daily versus weekly volatilities (using the square root of time rule)?

A) Daily and weekly volatilities will be the same
B) Daily volatility will be greater than weekly volatility
C) Either daily or weekly volatility will be greater, depending upon how the week went
D) Weekly volatility will be greater than daily volatility

2. Which of the following is not one of the 'three pillars' specified in the Basel accord:

A) National regulation
B) Supervisory review
C) Market discipline
D) Minimum capital requirements

3. Which of the following are valid criticisms of value at risk:
I. There are many risks that a VaR framework cannot model
II. VaR does not consider liquidity risk
III. VaR does not account for historical market movements
IV. VaR does not consider the risk of contagion

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

4. The cumulative probability of default for a security for 4 years is 11.47%. The marginal probability of default for the security for year 5 is 5% during year 5. What is the cumulative probability of default for the security for 5 years?

A) 16.47%
B) 15.90%
C) 5.00%
D) None of the above

5. Which of the following represents a riskier exposure for a bank: A LIBOR based loan, or an Overnight Indexed Swap? Which of the two rates is expected to be higher?
Assume the same counterparty and the same notional.

A) Overnight Index Swap; LIBOR rate will be higher
B) A LIBOR based loan; LIBOR rate will be higher
C) A LIBOR based loan; OIS rate will be higher
D) Overnight Index Swap; OIS rate will be higher

Solutions: