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PRMIA 8020 Exam Overview:
| Certification Vendor: | PRMIA |
|---|---|
| Exam Name: | PRMIA ORM Certificate - 2023 Update (8020) |
| Exam Number: | 8020 |
| Related Certifications: | PRMIA Professional Risk Manager (PRM) |
| Exam Format: | Multiple choice |
| Available Languages: | English |
| Recommended Training: | PRMIA Training Programs |
| Exam Registration: | PRMIA Certification Registration |
| Sample Questions: |  |
| Exam Way: | Computer-based proctored exam |
| Official Syllabus URL: | https://www.prmia.org |
PRMIA 8020 Exam Syllabus Topics:
| Section | Objectives |
|---|---|
| Risk Identification and Assessment | - Key risk indicators (KRIs) - Risk and control self-assessment (RCSA) |
| Operational Risk Management Framework | - Risk governance and organizational structure - Risk appetite and tolerance setting |
| Emerging and Strategic Operational Risks | - Third-party and outsourcing risk - Cyber and technology risk |
| Risk Measurement and Quantification | - Loss distribution approaches - Scenario analysis and stress testing |
| Capital and Regulatory Framework | - Capital adequacy and allocation - Basel operational risk framework |
| Control, Mitigation and Monitoring | - Risk reporting and escalation - Control design and effectiveness |
| Operational Risk Events and Loss Data | - External loss data usage - Internal loss data collection |
8020 Exam Facts and Self-Paced Study at TorrentExam
- Control, Mitigation and Monitoring ()
- Emerging and Strategic Operational Risks ()
- Capital and Regulatory Framework ()
PRMIA ORM Certificate - 2023 Update Sample Questions:
Which of the Basel Accords, published in 2004, introduced operational risk as a risk subjected to a capital charge?
- A. Basel I
- B. Basel II
- C. Basel III
- D. Basel IV
Correct Answer: B 🗳️
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For which of the following reasons did the Turnbull Report have a significant impact on risk governance?
- A. It was a report that led to the establishment of the US Federal Reserve.
- B. It defined the concept of risk governance for the insurance industry.
- C. It was the first report to list the board as a proposed governance structure.
- D. It was the first report to require a board to take specific account of risks and control systems for risks.
Correct Answer: D 🗳️
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Risk Capacity for a bank is defined as the:
- A. Ability to withstand an extreme event and make a profit.
- B. Ability to suffer an extreme event with an orderly wind up with only shareholders losing money.
- C. Amount of risk the regulator sets for the bank.
- D. Amount of risk the bank wishes to take.
Correct Answer: B 🗳️
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Which of the follow does the risk function typically have responsibility for?
- A. Creating a trial balance, balance sheet statement and cash flow statement.
- B. Documenting its activities, typically by developing a Risk Management Manual and set of Risk Policies.
- C. Documenting its activities, typically by operating and then recording the daily operation of controls.
- D. Putting in place the servers, firewalls and software to ensure cyber security.
Correct Answer: B 🗳️
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Which of the follow is not included in PRMIA's 10 principles of good governance?
- A. Holding the PRM Designation.
- B. Risk appetite.
- C. Clear accountability.
- D. External validation.
Correct Answer: A 🗳️
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