PRMIA Exam 8004 Topic 6 Question 37 Discussion

Actual exam question for PRMIA's 8004 exam

Question #: 37
Topic #: 6

With a PRMIA member's need to reconcile their internal and external responsibility to perform their work in an independent and appropriate fiduciary manner, which of the following options must be taken into consideration when performing risk management duties?

AInternal controls of the organization, and the local regulator

BInternal controls, and the expectations of stakeholders, shareholders, and the general public

CThe local regulator, internal controls, and shareholders

DOnly the internal controls and compliance standards

Show Suggested Answer

Suggested Answer: B

by Chantay at Sep 19, 2024, 01:23 AM

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Rodolfo

3 months ago

So many stakeholders to keep happy, it's no wonder risk management can be a headache. At least option B covers the bases.

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Selma

3 months ago

Haha, I bet the regulators are keeping a close eye on us risk managers. Better not mess up with just the internal controls!

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Jodi

2 months ago

C) The local regulator, internal controls, and shareholders

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Christoper

2 months ago

B) Internal controls, and the expectations of stakeholders, shareholders, and the general public

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Avery

2 months ago

A) Internal controls of the organization, and the local regulator

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Chaya

3 months ago

I agree with Margart. Option B looks like the most comprehensive choice that addresses the fiduciary duties we have as PRMIA members.

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Dannie

2 months ago

Let's make sure we are fulfilling our fiduciary duties properly.

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Lilli

2 months ago

We need to consider both stakeholders and the general public.

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Eulah

2 months ago

I agree, it covers both internal controls and external expectations.

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Gary

2 months ago

I think option B is the best choice.

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Leonard

3 months ago

But we shouldn't ignore the local regulator and internal controls as well.

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Margart

3 months ago

Option D seems too narrow. As risk managers, we need to consider the broader regulatory and public accountability aspects, not just internal controls.

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Donte

3 months ago

I agree, stakeholders and shareholders' expectations are crucial.

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Leota

4 months ago

I think option B is the most important.

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Malcom

4 months ago

I think option B covers the key points of internal controls and the expectations of stakeholders and the public. As a PRMIA member, we need to balance our responsibilities to the organization and the public.

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Gary

2 months ago

Definitely, balancing our responsibilities to the organization and the public is crucial for a PRMIA member.

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Bulah

2 months ago

I think we need to prioritize meeting the expectations of stakeholders and the public while also ensuring internal controls are in place.

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Dorinda

3 months ago

Yes, it's important to consider both internal controls and external expectations in our risk management duties.

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Herman

3 months ago

I agree, option B seems to cover all the important aspects of our responsibilities.

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