PDF Version DemoPRMIA 8010 Exam Overview:
| Certification Vendor: | Professional Risk Managers' International Association (PRMIA) |
|---|---|
| Exam Name: | Operational Risk Management (ORM) Certificate Exam |
| Exam Number: | 8010 |
| Related Certifications: | PRMIA Market, Liquidity & Asset Liability Risk Management Certificate PRMIA Credit & Counterparty Risk Management Certificate PRMIA Cyber Risk Management Certificate |
| Exam Price: | USD 599 (non-member) / USD 549 (member) |
| Passing Score: | 60% |
| Exam Duration: | 120 minutes |
| Real Exam Qty: | 60 |
| Exam Format: | Multiple Choice |
| Available Languages: | English |
| Sample Questions: | PRMIA 8010 Sample Questions |
| Exam Way: | Computer-based exam conducted at Pearson VUE test centers or online proctored delivery. |
| Pre Condition: | Enrollment in the ORM Certificate program and payment of program fee required before exam authorization. No prior exam prerequisite. |
| Official Syllabus URL: | https://prmia.org/Public/Public/Certificate/ORM.aspx |
PRMIA 8010 Exam Syllabus Topics:
| Section | Weight | Objectives |
|---|---|---|
| Risk Management Framework | 10% | - Risk Appetite, Policies, Culture |
| Case Studies | 6% | - Applied Operational Risk Scenarios |
| Introduction | 2% | - Overview of Operational Risk Management |
| Operational Resilience | 4% | - Resilience Concepts and Practices |
| Operational Risk Capital | 6% | - Capital Concepts & Basel III Context |
| Compliance Risk | 6% | - Compliance Risk Framework |
| Risk Information | 10% | - Loss Data, KRIs and Reporting |
| Risk Governance | 6% | - Governance Principles and Risk Roles |
| Risk Assessment | 10% | - Risk Identification and Assessment Techniques |
PRMIA Operational Risk Manager (ORM) Sample Questions:
Question #1
When fitting a distribution in excess of a threshold as part of the body-tail distribution method described by the equation below, how is the parameter 'p' calculated.
Here, F(x) is the severity distribution. F(Tail) and F(Body) are the parametric distributions selected for the tail and the body, and T is the threshold in excess of which the tail is considered to begin.
A. If there are Nobservations, of which K are up to T, then p = k/N
B. If there are K observations up to the tail threshold, then p = k*n
C. p is a function of the reporting threshold and determined by the log-likelihood functional
D. p is a parameter estimated using either the sum of least squares or maximum likelihood estimation
Question #2
Conditional default probabilities modeled under CreditPortfolio view use a:
A. Power function
B. Altman's z-score
C. Probit function
D. Logit function
Question #3
Which of the following are valid approaches to calculating potential future exposure (PFE) forcounterparty risk:
I. Add a percentage of the notional to the mark-to-market value
II. Monte Carlo simulation
III. Maximum Likelihood Estimation
IV. Parametric Estimation
A. I and II
B. I, III and IV
C. III and IV
D. All of the able
Question #4
Which of the following statements is true
I. If no loss data is available, good quality scenarios can be used to model operational risk II. Scenario data can be mixed with observed loss data for modeling severity and frequency estimates III. Severity estimates should not be created by fitting models to scenario generated loss data points alone IV. Scenario assessments should only be used as modifiers to ILD or ELD severity models.
A. I and II
B. I
C. All statements are true
D. III and IV
Question #5
Which of the following credit risk models relies upon theanalysis of credit rating migrations to assess credit risk?
A. The contingent claims approach
B. The actuarial approach
C. The CreditMetrics approach
D. KMV's EDF based approach
Solutions:
| Question #1 Correct Answer: A | Question #2 Correct Answer: D | Question #3 Correct Answer: A | Question #4 Correct Answer: A | Question #5 Correct Answer: C |
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