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PRMIA 8009 Exam Syllabus Topics:
| Section | Objectives |
|---|---|
| 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:
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
Correct Answer: C 🗳️
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
Correct Answer: B 🗳️
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
Correct Answer: B 🗳️
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
Correct Answer: A 🗳️
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
Correct Answer: A 🗳️






