PRMIA 8020 Schulungsangebot, 8020 Prüfungsfrage

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PRMIA 8020 Prüfungsplan:

Thema	Einzelheiten
Thema 1	Risk Governance: This section of the exam measures the skills of Compliance Officers and covers the policies, structures, and processes that define how organizations oversee risk. It explores regulatory compliance, ethical considerations, and corporate governance frameworks to ensure accountability. A key skill measured is applying governance frameworks to organizational risk policies.
Thema 2	Case Studies: This section of the exam measures the skills of Business Risk Consultants and covers real-world applications of risk management concepts. It examines case studies on risk governance, assessment, and mitigation strategies across different industries. A key skill measured is analyzing historical risk events for strategic insights.
Thema 3	Insurance Mitigation: This section of the exam measures the skills of Insurance Risk Managers and covers strategies for transferring risk through insurance and other financial instruments. It focuses on risk transfer mechanisms, policy structuring, and claims management. A key skill measured is assessing risk transfer options through insurance.
Thema 4	Introduction: This section of the exam measures the skills of Risk Analysts and covers fundamental concepts of risk governance, management, and assessment. It introduces key principles, regulatory frameworks, and industry best practices for identifying and addressing risks. A key skill measured is understanding the foundational principles of risk management.
Thema 5	Risk Management Framework: This section of the exam measures the skills of Risk Managers and covers the development and implementation of structured approaches for risk identification, evaluation, and mitigation. It includes industry-standard frameworks that guide risk strategy and decision-making. A key skill measured is establishing a risk management framework for organizations.
Thema 6	Risk Modeling: This section of the exam measures the skills of Quantitative Risk Analysts and covers mathematical and statistical techniques used to predict risk scenarios. It explores model development, validation, and application in financial and operational risk management. A key skill measured is applying statistical models for risk prediction.

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PRMIA ORM Certificate - 2023 Update 8020 Prüfungsfragen mit Lösungen (Q17-Q22):

17. Frage
When a single operational risk event leads to losses in multiple business lines or impacts across several event types, how should these linked losses be treated?

A. Either allocate entire loss to the business line for which the loss is greatest or pro-rate the loss across the affected business line.
B. Allocate entire loss to the business line for which the loss is greatest.
C. Each business line should take it's own discretion as to how the losses are treated.
D. Pro-rate the loss across the affected business line.

Antwort: A

Begründung:
Step 1: Understanding Linked Losses in Operational Risk
In operational risk events, a single event can impact multiple business lines or event types (e.g., IT failure affecting retail banking and wealth management).
Proper loss attribution is important for accurate risk reporting and regulatory compliance under Basel III.
Step 2: Why Option C is Correct
Basel III and PRMIA guidance allow institutions flexibility in how to allocate linked losses:
Entire loss can be allocated to the business line with the largest loss impact for simplified reporting.
Loss can be pro-rated across affected business lines for more accurate attribution.
Step 3: Why the Other Options Are Incorrect
Option A ("Allocate entire loss to the business line with the greatest loss") → Partially correct, but not always required-some firms prefer pro-rating.
Option B ("Pro-rate the loss") → Partially correct, but allocating to the largest impacted business line is also acceptable.
Option D ("Each business line decides how to treat losses") → Incorrect because loss allocation should follow a defined policy, not business line discretion.
PRMIA Risk Reference Used:
Basel III Operational Risk Framework - Discusses loss attribution for multi-line impact events.
PRMIA Loss Event Management Guidelines - Supports both full allocation and pro-rating.
Final Conclusion:
Firms can either allocate the full loss to the most impacted business line or pro-rate it across affected lines, making Option C the correct answer.

18. Frage
In order for a KRI to be effective it must be:

A. Quantitative, Consistent and Comparable. Efficient & Repeatable
B. Quantitative and Qualitative. Consistent. Efficient & Repeatable.
C. Quantitative, Repeatable and Efficient.
D. Qualitative, Consistent Efficient & Repeatable.

Antwort: B

Begründung:
Definition of an Effective Key Risk Indicator (KRI)
A KRI is a metric used to identify, measure, and monitor emerging risks.
To be effective, KRIs must be both quantitative and qualitative, allowing for a comprehensive risk view.
Key Characteristics of Effective KRIs
Quantitative - Uses numerical data for trend analysis.
Qualitative - Incorporates expert judgment and scenario-based insights.
Consistent - Maintains uniform definitions across reporting periods.
Efficient & Repeatable - Must be easily measured and consistently reported.
Why Other Answers Are Incorrect
Option
Explanation:
B . Qualitative, Consistent, Efficient & Repeatable.
Incorrect - Excludes quantitative aspects, which are essential for KRIs.
C . Quantitative, Consistent, Comparable, Efficient & Repeatable.
Incorrect - While comparison is useful, qualitative factors are missing, making this answer incomplete.
D . Quantitative, Repeatable and Efficient.
Incorrect - Lacks qualitative insights and consistency as key factors for KRIs.
PRMIA Reference for Verification
PRMIA Risk Indicator Guidelines
Basel Committee's Principles on Risk Data and KRI

19. Frage
Which of the following is not an action available to management and the governing body to align the strategy with Risk Capacity.

A. Reduce scale of risks - shrink balance sheet or activity levels.
B. Improve retained earnings - by increasing net income or reducing dividends in order to increase risk capacity.
C. Reduce retained earning - by increasing dividends in order to return funds to investors and improve reputation.
D. Improve quality of risks - pursue lower rewarding risks with better prospects.

Antwort: C

Begründung:
Step 1: Aligning Strategy with Risk Capacity
Risk capacity is the maximum level of risk a firm can bear based on financial resources, earnings, and capital structure.
Management can adjust risk capacity by modifying risk exposure, balance sheet size, or earnings retention.
Step 2: Why Option C Is Incorrect
Increasing dividends reduces retained earnings, which lowers capital reserves and reduces risk capacity.
Firms seeking to improve risk capacity should retain earnings, not distribute them.
Step 3: Why the Other Options Are Correct
Option A ("Reduce scale of risks") → Correct as reducing balance sheet size lowers risk exposure.
Option B ("Improve quality of risks") → Correct as taking on lower-risk assets improves stability.
Option D ("Improve retained earnings") → Correct as more capital increases risk capacity.
PRMIA Risk Reference Used:
PRMIA Capital Management Framework - Defines risk capacity and earnings retention strategies.
Basel III Capital Standards - Stresses retained earnings as a key factor in risk capacity.
Final Conclusion:
Reducing retained earnings through dividends weakens risk capacity, making Option C the correct answer.

20. Frage
For the National Australia Bank - FX Options case study, large and unusual transaction activity was a concern for what reason?

A. Complex structured transactions aided in the smoothing of losses.
B. Deep-in-the-money options aided in the smoothing of losses.
C. Deep-in-the-money options and other complex structured transactions aided in the smoothing of profits and losses.
D. Deep-in-the-money options and other complex structured transactions aided in the smoothing of losses.

Antwort: C

Begründung:
The National Australia Bank (NAB) FX Options Case Study is a well-known example of operational risk, fraud, and governance failure.
What Happened?
Traders engaged in unauthorized foreign exchange (FX) options trading, using deep-in-the-money options and other complex instruments.
They manipulated profits and losses to smooth earnings and mislead risk managers and auditors.
Why Answer C is Correct
The traders smoothed both profits and losses to avoid detection and ensure continued trading bonuses.
This aligns with PRMIA's Operational Risk Management Guidelines, which highlight that hidden trading losses and smoothing techniques increase financial crime risk.
Why Other Answers Are Incorrect
Option
Explanation:
A . Complex structured transactions aided in the smoothing of losses.
Incorrect - Smoothing occurred with both profits and losses, not just losses.
B . Deep-in-the-money options and other complex structured transactions aided in the smoothing of losses.
Incorrect - Profits were also manipulated, making this answer incomplete.
D . Deep-in-the-money options aided in the smoothing of losses.
Incorrect - This focuses only on deep-in-the-money options and ignores other structured transactions involved in the fraud.
PRMIA Reference for Verification
PRMIA Fraud and Risk Management Case Studies
Basel Principles on Market Risk and Internal Control Failures

21. Frage
When a control is found to be ineffective, which of the following steps should be take next?

A. The controls should be re-assessed during the next cycle to determine if they are still ineffective.
B. An action plan should be designed to close the gap.
C. Risks should be re-assessed to determine if there is the appropriate level of control assessment.
D. Risks should be re-assessed to determine if there can be an exception for the level of control assessment.

Antwort: B

Begründung:
When a control is found to be ineffective, the primary objective is to remediate the deficiency by implementing corrective measures. PRMIA (Professional Risk Managers' International Association) guidance, aligned with best practices in risk governance, emphasizes a structured approach to handling control deficiencies. Below is a detailed breakdown based on PRMIA risk management principles:
Step 1: Identify and Assess the Ineffective Control
A control is deemed ineffective when it fails to mitigate the identified risks to an acceptable level.
The root cause of the failure must be determined through a Control Effectiveness Review (CER).
PRMIA recommends control testing and incident analysis to assess the severity of the control failure.
Step 2: Develop an Action Plan to Address the Control Deficiency
PRMIA best practices state that risk management should prioritize corrective actions rather than delaying remediation.
The organization must define an action plan to close the gap, which includes:
Revising or strengthening the control mechanisms.
Implementing new controls, if necessary.
Assigning responsibility for remediation to control owners.
Setting deadlines for resolution.
This step aligns with PRMIA's Risk Governance Framework, which emphasizes proactive risk management.
Step 3: Implement Corrective Measures and Monitor Progress
Once an action plan is designed, the organization should execute the corrective actions.
PRMIA's Risk Monitoring Guidelines require regular follow-ups and testing to ensure the control is functioning correctly.
The effectiveness of the remediation should be validated through post-implementation review and ongoing control testing.
Step 4: Re-Assess Risks and Control Effectiveness
Once corrective measures are in place, the organization should re-evaluate risks to confirm that the issue is resolved.
The risk assessment process should be updated to reflect the changes in the control environment.
Why the Other Options Are Incorrect?
Option A: "Risks should be re-assessed to determine if there is the appropriate level of control assessment." While risk re-assessment is a good practice, it does not directly address the ineffective control.
PRMIA guidelines prioritize closing the control gap first before reassessing risks.
Option C: "The controls should be re-assessed during the next cycle to determine if they are still ineffective." Waiting until the next assessment cycle delays remediation, which could expose the organization to unmitigated risks.
PRMIA risk frameworks recommend immediate corrective action when a control is found to be ineffective.
Option D: "Risks should be re-assessed to determine if there can be an exception for the level of control assessment." PRMIA does not support exceptions for ineffective controls unless there is a well-documented risk acceptance process.
A control failure should be remediated rather than seeking exceptions.
PRMIA Risk Reference Used:
PRMIA Risk Governance Framework - Defines the importance of immediate corrective actions for control failures.
PRMIA Risk Monitoring Guidelines - Stresses continuous monitoring and validation of controls.
PRMIA Risk Management Standards - Recommends a structured action plan for ineffective controls.
PRMIA Operational Risk Framework - Emphasizes the need to close control gaps to maintain a strong risk posture.
Final Conclusion:
According to PRMIA risk management best practices, when a control is found to be ineffective, the best course of action is to design and implement an action plan to remediate the issue (Option B). This approach ensures that the organization mitigates risk promptly and maintains a strong control environment.

22. Frage
......

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PRMIA 8020 Schulungsangebot, 8020 Prüfungsfrage

PRMIA 8020 Prüfungsplan:

Kostenlos 8020 Dumps Torrent & 8020 exams4sure pdf & PRMIA 8020 pdf vce

PRMIA ORM Certificate - 2023 Update 8020 Prüfungsfragen mit Lösungen (Q17-Q22):

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