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Pass the PRMIA PRM Certification 8009 Questions and answers with ExamsMirror

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Questions # 1:

Every PRMIA chapter is designed to serve the local needs of members, so they often have fairly independent planning structures and ideas. According to the PRMIA Bylaws, Regional Chapters and Regional Directors:

Options:

A.

Can have their own offices, bylaws and regulations provided they do not conflict with those of PRMIA

B.

Can have meetings that only local members are allowed to attend

C.

Can sign contracts on behalf of PRMIA without prior approval from the Board of Directors

D.

All of the above

Questions # 2:

When Fannie Mae and Freddie Mac were taken under US government conservatorship, which of the following was not included within their operating mandate?

Options:

A.

Fannie Mae and Freddie Mac will continue to buy home loans from banks to repackage them as mortgage-backed securities

B.

The US government will provide capital as needed in return for preferred shares in the companies

C.

The US government will buy mortgage-backed securities in the open market as needed

D.

There was a 2 year limit to the conservatorship

Questions # 3:

As LTCM started to have major losses, it compounded its problems by doing what?

Options:

A.

Trying to borrow more money from major money centre banks

B.

Issuing Subordinated Debt

C.

Returning capital to the general partners before others

D.

Unwinding its' more liquid trades thereby creating more liquidity risk overall

Questions # 4:

Which of the following are PRMIA Governance Principles?

I. Sufficiency of Key Resources and Process

II. State of the Art Risk Management Technology

III. Ongoing Education and Discernment

IV. Sufficiency of Key Competencies

Options:

A.

I, II and IV only

B.

I and II only

C.

I, III and IV only

D.

All of these are PRMIA Governance Principles

Questions # 5:

The Basic Knowledge a PPRMIA member should comply with, as stipulated within the PRMIA Standards of Best Practice, Conduct & Ethics, is to

Options:

A.

only improve their PERSONAL professional competence

B.

maintains and improve their professional competence and strive to maintain and improve the competence of other risk professionals

C.

only possess the required skills and/or certification to complete the risk assessment / management work at hand

D.

learn from a qualified risk management practitioner

Questions # 6:

Which of the following was the key contributory risk factor to the problems at LTCM in the summer of 1998?

I. Model Risk

II. Lack of Transparency

III. Breakdown of Historical Correlations

IV. Over Regulation by Federal Regulators

Options:

A.

I and III only

B.

III only

C.

III and IV only

D.

All of these were key elements of the problems at LTCM

Questions # 7:

Which of the following was NOT a factor in the National Australia Bank case?

Options:

A.

Rogue traders

B.

Improper or insufficient Board-level communication regarding the importance of risk management and oversight

C.

Inadequate back office procedures

D.

Money laundering using foreign exchange trades for political leaders

Questions # 8:

Which of the following was NOT a factor in the WorldCom collapse?

Options:

A.

Failed corporate governance

B.

Accounting abuses

C.

Unfair pricing to customers

D.

Over stating actual sales

Questions # 9:

Which of the following are PRMIA Governance Principles?

I. Independence of Key Parties

II. Disclosure and Transparency

III. Internal Validation

IV. Solvency

Options:

A.

I and II only

B.

I, II and III only

C.

I, II and IV only

D.

All are PRMIA Governance Principles

Questions # 10:

The Q4 2003 trading strategy of China Aviation Oil was

Options:

A.

to buy puts and sell calls

B.

to buy calls and sell puts

C.

to sell puts and buy calls

D.

to sell calls and buy puts

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