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8010 Practice Questions
Operational Risk Manager (ORM) Exam
Last Update 2 days ago
Total Questions : 240
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Our free PRM Certification practice questions crafted to reflect the domains and difficulty of the actual exam. The detailed rationales explain the 'why' behind each answer, reinforcing key concepts about 8010. Use this test to pinpoint which areas you need to focus your study on.
Which of the following is not a parameter to be determined by the risk manager that affects the level of economic credit capital:
Economic capital under the Earnings Volatility approach is calculated as:
Under the KMV Moody's approach to calculating expectingdefault frequencies (EDF), firms' default on obligations is likely when:
Which of the following statements is true:
I. Basel II requires banks to conduct stress testing in respect of their credit exposures in addition to stress testing for market risk exposures
II. Basel II requires pooled probabilities of default (and not individual PDs for each exposure) to be used for credit risk capital calculations
Which of the following are valid approaches to leveraging external loss data for modeling operational risks:
I. Both internal and external losses can be fitted with distributions,and a weighted average approach using these distributions is relied upon for capital calculations.
II. External loss data is used to inform scenario modeling.
III. External loss data is combined with internal loss data points, and distributions fitted to the combined data set.
IV. External loss data is used to replace internal loss data points to create a higher quality data set to fit distributions.
Which of the following statements are correct:
I. A training set is a set of data used to create a model, while a control set is a set of data is used to prove that the model actually works
II. Cleansing, aggregating or ensuring data integrity is a task for the IT department, and is not a risk manager's responsibility
III. Lack of information on the quality of underlying securities and assets was a major cause of the collapse in the CDO markets during the credit crisis that started in 2007
IV. The problem of lack of historical data can be addressed reasonably satisfactorily by using analytical approaches
Under the contingent claims approach to measuring credit risk, which of the following factors does NOT affect credit risk:
Which of the beloware a way to classify risk governance structures:
A Reactive, Preventative and Active
B.
Committee based, regulation based and board mandatedC.
Top-down and Bottom-upD.
Active and Passive
