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

8009 pass collection

Exam Code: 8009

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

Updated: Sep 08, 2026

Q & A: 112 Questions and Answers

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PRMIA 8009 Exam Syllabus Topics:

SectionObjectives
Ethics in Risk Management- Professional ethics and conduct standards
- Ethical decision-making in financial risk scenarios
- Conflict of interest management
Governance- Corporate governance structures
- Internal controls and compliance systems
- Board responsibilities and oversight
Best Practices in Risk Management- Risk identification and assessment processes
- Risk monitoring and reporting
- Enterprise risk management implementation
Risk Management Standards- Global risk management frameworks
- Regulatory and industry standards

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

Question #1

Finite insurance is reinsurance which

  • A. transfers only a limited amount of risk at the usual reinsurance price
  • B. transfers the total risk at the usual reinsurance price
  • C. transfers only a limited amount of risk at less cost than traditional reinsurance
  • D. transfers the total risk at less cost than traditional reinsurance
Reveal Solution  Discussion  0

Correct Answer: C  🗳️

Question #2

John Smith wants to run for election to the Board of Directors of PRMIA. To be nominated, he needs:

  • A. The backing of 6% of local members
  • B. The backing of three other members
  • C. To go through a screening process conducted by the Nominations Committee
  • D. The backing of five other members and to be serving on at least one PRMIA Committee
Reveal Solution  Discussion  0

Correct Answer: B  🗳️

Question #3

The key people involved in the application of good governance and risk management must:
I. be trustworthy
II. be honest
III. be approved by the local regulator
IV. treat others fairly at all times

  • A. III only
  • B. I, II, and IV only
  • C. I, II, III and IV above
  • D. I, II, and III only
Reveal Solution  Discussion  0

Correct Answer: B  🗳️

Question #4

Employees shall be remunerated adequately for the roles that they perform, where 'adequately' is defined

  • A. using external references and benchmarks, and in a framework which is consistent with the type of risk-taking behavior expected of employees
  • B. as commensurate with policies to attract and retain high income / revenue earners
  • C. using the risk reward profile for each business line in the organization
  • D. as being the market norm for similarly situated personnel in competitive organizations
Reveal Solution  Discussion  0

Correct Answer: A  🗳️

Question #5

Which items below were at the core of the problems at Bankgesellschaft Berlin?

  • A. All of the above
  • B. Political corruption and poor management
  • C. Over exposure to the property market
  • D. Rash guarantees given to investors in property linked funds
Reveal Solution  Discussion  0

Correct Answer: A  🗳️

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