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PRMIA Exam IV: Case Studies: Standards: Governance, Best Practices and Ethics - 2015 Edition : 8009 Exam

8009 Exam Questions
  • Exam Code: 8009
  • Exam Name: Exam IV: Case Studies: Standards: Governance, Best Practices and Ethics - 2015 Edition
  • Updated: Jul 21, 2026
  • Q & A: 112 Questions and Answers
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PRMIA 8009 Exam Syllabus Topics:

SectionObjectives
Risk Management Best Practices- Operational Risk Management
  • 1. Scenario Analysis
  • 2. Risk Mitigation Strategies
  • 3. Risk Identification and Assessment
- Credit and Market Risk
  • 1. Credit Risk Standards
  • 2. Liquidity Risk Considerations
  • 3. Market Risk Best Practices
- Enterprise Risk Management
  • 1. Risk Appetite and Tolerance
  • 2. ERM Frameworks
  • 3. Integration Across Departments
Ethics and Professional Conduct- Case Studies on Ethical Scenarios
  • 1. Practical Applications
  • 2. Decision-Making Frameworks
  • 3. Lessons Learned
- Ethical Principles
  • 1. Code of Conduct
  • 2. Transparency and Disclosure
  • 3. Conflict of Interest
Standards and Professional Practices- Benchmarking and Industry Guidelines
  • 1. Industry Surveys and Metrics
  • 2. Best Practice Comparisons
- Documentation and Reporting Standards
  • 1. Risk Reporting Templates
  • 2. Regulatory Submission Requirements
Governance and Regulatory Standards- Corporate Governance
  • 1. Board Oversight Responsibilities
  • 2. Internal Controls and Audit Functions
  • 3. Risk Committee Structures
- Regulatory Frameworks
  • 1. Local Regulatory Requirements
  • 2. Basel Accords and Global Standards
  • 3. Compliance Reporting

PRMIA Exam IV: Case Studies: Standards: Governance, Best Practices and Ethics - 2015 Edition Sample Questions:

1. The problems at WorldCom can best be characterized as related to:

A) Operational and Regulatory Compliance Risk
B) Credit Risk
C) All of the Above
D) Market Risk


2. The Financial Accounting and Reporting Infrastructure of any organization must:
I. Accurately represent the corporation's current and known financial condition in a timely manner II. Only use off-balance sheet transactions which have a legitimate economic, tax, risk transfer or risk mitigating purpose III. Provide a detailed description of the Risk Management Infrastructure in the organization's Annual Report to Shareholders IV. Provide an auditable Annual Statement of Compliance with the Board's publicly stated Standards of Corporate Governance to the Board and Audit Committee

A) All of these are expected of the Financial Accounting and Reporting Infrastructure
B) I and III only
C) I, II and III only
D) I, III and IV only


3. The retrocession insurance cover was provided by

A) The fronting insurance companies
B) Fortress Re and their reinsurers
C) Fortress Re and other insurers
D) The Fortress Re reinsurers only


4. Which of the following was not received by Northern Rock as official support from the UK banking and government authorities?

A) The UK government offered to guarantee all existing and new retail deposits, and to most other creditors
B) The Bank of England provided an additional unlimited facility secured on the collateral of all Northern Rock assets
C) A covert money market support operation designed to cover up the difficulties Northern Rock was facing
D) The Bank of England's role as Lender-Of-Last-resort was activated at a penalty interest rate of 150 basis points above the Bank Rate


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

A) The US government will provide capital as needed in return for preferred shares in the companies
B) There was a 2 year limit to the conservatorship
C) The US government will buy mortgage-backed securities in the open market as needed
D) Fannie Mae and Freddie Mac will continue to buy home loans from banks to repackage them as mortgage-backed securities


Solutions:

Question # 1
Answer: A
Question # 2
Answer: A
Question # 3
Answer: D
Question # 4
Answer: C
Question # 5
Answer: B

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