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PRMIA Case Studies; Standards: Governance, Best Practices and Ethics Exam Questions
- Topic 1: Risk Management, Corporate Risk Management, and Risk & Return Theory: This topic assesses the understanding of risk managers about fundamental risk management principles, corporate strategies, and the relationship between risk and return. It tests their ability to apply these concepts effectively within an organization.
- Topic 2: Risk Governance and Financial Regulation: Focused on governance frameworks and regulatory environments, this 8004 exam topic evaluates how well PRMIA risk managers understand compliance, risk oversight, and the implementation of risk governance practices within financial institutions.
- Topic 3: Fintech and Its Impact on Financial Intermediation and Risk Management: This topic of the PRMIA Professional Risk Managers exam explores the influence of fintech innovations on financial intermediation and risk management. It assesses the ability of risk managers to integrate emerging technologies and adapt to the evolving financial landscape.
- Topic 4: Introduction to Financial Markets: Designed to evaluate knowledge of financial markets, this 8004 exam topic covers market structures, instruments, and functions, testing the ability of aspiring PRIMA risk managers to navigate and understand the dynamics of global financial markets.
- Topic 5: Market Risk, Asset-Liability Management, Stress Testing, and Scenario Analysis: This PRMIA Professional Risk Managers exam topic examines the proficiency of risk managers in managing market risk, balancing assets and liabilities, and conducting stress testing and scenario analysis.
- Topic 6: Credit Scoring, Retail Credit Risk Management, Commercial Credit Risk Management, Risk Management Practices: This 8004 exam topic focuses on the assessment of credit risk management across different sectors. The topic evaluates the ability of PRIMA risk managers to implement effective risk management practices in both retail and commercial credit environments.
- Topic 7: Operational Risk: The topic assesses the understanding of operational risk, including identifying, managing, and mitigating risks related to internal processes, systems, and external events within financial institutions.
- Topic 8: Risk Capital Attribution and Risk-Adjusted Performance Measurement: PRIMA risk managers are tested on their ability to attribute risk capital and measure performance on a risk-adjusted basis, ensuring they can optimize risk management strategies to enhance financial performance.
- Topic 9: Case Studies and PRMIA Standards: This PRMIA Professional Risk Managers exam topic involves the application of risk management concepts through real-world case studies and understanding PRMIA standards, testing practical skills and adherence of risk managers to industry best practices.
Free PRMIA Case Studies; Standards: Governance, Best Practices and Ethics Exam Actual Questions
Note: Premium Questions for Case Studies; Standards: Governance, Best Practices and Ethics were last updated On Aug. 24, 2024 (see below)
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?
Boards of Directors, including Audit and Risk Committees must review thoroughly compensation plans of potentially "highly compensated positions" for:
I competitive market conditions
II ensuring compliance with their corporate risk appetite and fiduciary responsibility to shareholders
III ensuring any discretionary bonus plans are geared towards keeping high income / revenue generators
IV reporting all such personnel to the local regulator
Boards, including Audit and Risk Committees must:
I Clearly articulate the corporate risk appetite to senior management
II Thoroughly review compensation plans of potentially "highly compensated positions" for consistency with corporate risk appetite, competitive market conditions and fiduciary responsibility to shareholders
III Have a single member formally given responsibility for understanding and reporting the effectiveness of the corporation's risk management infrastructure
IV. Be fully accountable to shareholders and work to the benefit of public good and financial stability
The Risk Management Infrastructure of an organization must:
I To the extent possible, avoid silos of control and oversight
II Have budgets set by the business unit leaders
III Actively provide ongoing professional development for risk management staff and require them to be committed to standards of best practice, conduct and ethics in their work
IV Provide general risk management and related corporate governance training for employees of the organization as a Whole
Boards, including Audit and Risk Committees must:
I Clearly articulate the corporate risk appetite to senior management
II Thoroughly review compensation plans of potentially "highly compensated positions" for consistency with corporate risk appetite, competitive market conditions and fiduciary responsibility to shareholders
III Have a single member formally given responsibility for understanding and reporting the effectiveness of the corporation's risk management infrastructure
IV. Be fully accountable to shareholders and work to the benefit of public good and financial stability
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Jina
2 months agoNoble
2 months ago