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PRMIA 8011 Exam Syllabus Topics:
| Section | Objectives |
|---|---|
| Management of CVA and DVA | - Operational implementation
|
| Standardized Approach for Counterparty Credit Risk | - Regulatory capital treatment
|
| CVA and DVA | - Credit valuation adjustment
|
| Counterparty Risk | - Counterparty exposure
|
| Modern Credit Risk Modeling | - PD/LGD modeling
|
| Credit Portfolio Management | - Risk-adjusted performance
|
| Credit Derivatives and Securitization | - Securitization structures
|
| Classic Credit Risk Methodology | - Risk management practices
|
| Classic Credit Products and Lifecycle | - Traditional credit products
|
PRMIA Credit and Counterparty Manager (CCRM) Certificate Sample Questions:
Question 1
A portfolio's 1-day VaR at the 99% confidence level is $250m. What is the annual volatility of the portfolio?
(assuming 250 days in the year)
A. $1,699.4m
B. $2,410.3m
C. $3,952.8m
D. $107.5m
Question 2
Which of the following is not a tool available to financial institutions for managing credit risk:
A. Collateral
B. Third party guarantees
C. Credit derivatives
D. Cumulative accuracy plot
Question 3
Which of the following statements are true:
I. The three pillars under Basel II are market risk, credit risk and operational risk.
II. Basel II is an improvement over Basel I by increasing the risk sensitivity of the minimum capital requirements.
III. Basel II encourages disclosure of capital levels and risks
A. II and III
B. I only
C. III only
D. I and II
Question 4
Which of the following statements is true:
I. When averaging quantiles of two Pareto distributions, the quantiles of the averaged models are equal to the geometric average of the quantiles of the original models based upon the number of data items in each original model.
II. When modeling severity distributions, we can only use distributions which have fewer parameters than the number of datapoints we are modeling from.
III. If an internal loss data based model covers the same risks as a scenario based model, they can can be combined using the weighted average of their parameters.
IV If an internal loss model and a scenario based model address different risks, the models can be combined by taking their sums.
A. II and III
B. III and IV
C. All statements are true
D. I and II
Question 5
Which of the following statements is a correct description of the phrase present value of a basis point?
A. It is another name for duration
B. It is the principal component representation of the duration of a bond
C. It refers to the present value impact of 1 basis point move in an interest rate on a fixed income security
D. It refers to the discounted present value of 1/100th of 1% of a future cash flow
Solutions:
| Question 1 Answer: A | Question 2 Answer: D | Question 3 Answer: A | Question 4 Answer: C | Question 5 Answer: C |
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