PRMIA Operational Risk Manager (ORM) : 8010 Exam Questions

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PRMIA 8010 Exam Syllabus Topics:

PRMIA Operational Risk Manager (ORM) Sample Questions:

1. For a given mean, which distribution would you prefer for frequency modeling where operational risk events are considered dependent, or in other words are seen as clustering together (as opposed to being independent)?

A) Binomial
B) Gamma
C) Negative binomial
D) Poisson

2. According to Basel II's definition of operational loss event types, losses due to acts by third parties intended to defraud, misappropriate property or circumvent the law are classified as:

A) Third party fraud
B) Execution delivery and system failure
C) External fraud
D) Internal fraud

3. If E denotes the expected value of a loan portfolio at the end on one year and U the value of the portfolio in the worst case scenario at the 99% confidence level, which of the following expressions correctly describes economic capital requiredin respect of credit risk?

A) E
B) U
C) U/E
D) E - U

4. If the annual default hazard rate for a borrower is 10%, what is the probability that there is no default at the end of 5 years?

A) 60.65%
B) 50.00%
C) 59.05%
D) 39.35%

5. The CDS quote for the bonds of Bank X is 200 bps. Assuming a recovery rate of 40%, calculate the default hazard rate priced in the CDS quote.

A) 5.00%
B) 2.00%
C) 3.33%
D) 0.80%

Solutions: