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  5. PRM Certification - Exam IV: Case Studies; Standards: Governance, Best Practices and Ethics Questions and Answers

8004 PRM Certification - Exam IV: Case Studies; Standards: Governance, Best Practices and Ethics Questions and Answers

Questions 4

Which of the following was not considered to be a positive outcome of the Northern Rock Case Study?

Options:

A.

The role of the UK government and the possible underwriting of risks by tax-payers, and the general question of Moral Hazard

B.

The reform of the Deposit Protection Scheme because of its internal inconsistencies

C.

It emphasised the importance of effective governance arrangements within financial firms

D.

The original successful business model had not stress tested sufficiently for the incidence of Low Probability, High Impact incidents

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Questions 5

The Chair, Vice Chair, Secretary and Treasurer of the PRMIA Board of Directors are elected by:

Options:

A.

All PRMIA Fellow Members

B.

The Regional Directors

C.

The Blue Ribbon Advisory Panel

D.

A two-thirds affirmative vote of all members

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Questions 6

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

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Questions 7

Which items below were at the core of the problems at Bankgesellschaft Berlin?

Options:

A.

Political corruption and poor management

B.

Over exposure to the property market

C.

Rash guarantees given to investors in property linked funds

D.

All of the above

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Questions 8

How much of Washington Mutual's assets were funded by customer deposits for the decade ending in 2006?

Options:

A.

30%

B.

40%

C.

50%

D.

60%

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Questions 9

The Chair of the PRMIA Board of Directors may hold the following offices:

Options:

A.

Parliamentarian

B.

Secretary

C.

Vice Chair

D.

Chair only

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Questions 10

What was the main type of risk that Metallgesellschaft was exposed to?

Options:

A.

Basis Risk

B.

Currency Settlement

C.

Interest Rate

D.

Inflation

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Questions 11

When considering the performance of Northern Rock within its peer group of banks, which of the following is not correct?

Options:

A.

Only a few months previously it had reported record profits.

B.

The quality of its' assets was never in question.

C.

For many years it was regarded as a star-performer in the financial markets.

D.

Its' loan loss record was poor by industry standards.

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Questions 12

According to the Group of 30 Report, deriving aggregate potential credit exposure for a counterparty by adding up the potential exposure of multiple transactions:

Options:

A.

Gives an accurate result in most cases

B.

Captures portfolio effects but not tenor differences

C.

Can easily reflect the impact of netting

D.

Overstates exposure in most cases

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Questions 13

Which of the following is NOT part of the PRMIA Standards of Best Practice, Conduct and Ethics (Code of Conduct) Guidance on Ethical Behavior?

Options:

A.

Ensure globally accepted standards are adhered to at all costs

B.

Respect local customs

C.

Respect local laws and regulations

D.

Take responsibility for your work

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Questions 14

Unlike the case at Barings Bank, National Australia Bank:

Options:

A.

Had a risk management infrastructure that was credited with doing its' job well, despite the losses

B.

Was not dealing in derivatives

C.

Had a Board of Directors that was unaware of the true nature of trading activities

D.

Had a separation of duties between trading and back office

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Questions 15

The problems at Bankers Trust can best be characterized as failures related to:

Options:

A.

Market Risk

B.

Credit Risk

C.

Operational and Regulatory Compliance Risk

D.

All of the Above

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Questions 16

The key people involved in the application of good governance and risk management must:

I. be trustworthy

II. be honest

III. be approved by the local regulator

IV. treat others fairly at all times

Options:

A.

I, II, and III only

B.

III only

C.

I, II, and IV only

D.

I, II, III and IV above

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Exam Code: 8004
Exam Name: PRM Certification - Exam IV: Case Studies; Standards: Governance, Best Practices and Ethics
Last Update: May 19, 2024
Questions: 110

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