매달, 우리는 1000명 이상의 사람들이 시험 준비를 잘하고 시험을 잘 통과할 수 있도록 도와줍니다.
ORM Certificate - 2023 Update 온라인 연습
최종 업데이트 시간: 2025년02월13일
당신은 온라인 연습 문제를 통해 PRMIA 8020 시험지식에 대해 자신이 어떻게 알고 있는지 파악한 후 시험 참가 신청 여부를 결정할 수 있다.
시험을 100% 합격하고 시험 준비 시간을 35% 절약하기를 바라며 8020 덤프 (최신 실제 시험 문제)를 사용 선택하여 현재 최신 60개의 시험 문제와 답을 포함하십시오.
정답:
Explanation:
PRMIA’s 10 Principles of Good Governance
PRMIA outlines 10 key principles that focus on risk governance, accountability, transparency, and risk management effectiveness.
These principles ensure strong risk governance structures for financial institutions.
Why Answer B is Correct
Holding the PRM Designation (Professional Risk Manager certification) is NOT a governance principle.
While PRMIA promotes risk education, governance principles focus on organizational risk structures,
not individual certifications.
Why Other Answers Are Incorrect
Option Explanation
A. Risk appetite. Correct C PRMIA governance principles include establishing a clear risk appetite.
C. External validation. Correct C External audits and validation improve governance and risk transparency.
D. Clear accountability. Correct C Governance principles emphasize clear accountability at all levels of management.
PRMIA Reference for Verification
PRMIA 10 Principles of Good Governance
Basel Corporate Governance Guidelines for Financial Institutions
정답:
Explanation:
Understanding Zero Risk Appetite in Compliance
A zero risk appetite means the organization does not tolerate any compliance breaches. However, in real-world risk management, it is often impractical to have zero risk exposure. Some compliance violations may occur despite strong controls, making a strict zero-risk stance unrealistic.
Why Answer C is Correct
If an organization adopts a zero risk appetite for compliance, any compliance issue, even minor ones,
Incorrect C Investigations are typically conducted by the second or third line of defense (compliance or audit), not the first line.
Incorrect C Self-assessments are part of compliance but do not define zero risk appetite issues.
Explanation
Incorrect C It is not illegal, but it is impractical in many industries.
would breach this policy.
This contradicts practical risk management, which allows for some residual risk while maintaining controls.
Why Other Answers Are Incorrect
Option Explanation
A. A zero risk appetite is illegal under all known regulations.
Incorrect C It is not illegal, but it is impractical in many industries.
B. It means that there can be a risk self assessment workshop for the compliance department.
Incorrect C Self-assessments are part of compliance but do not define zero risk appetite issues.
D. It will result in a compliance investigation conducted by the first line.
Incorrect C Investigations are typically conducted by the second or third line of defense (compliance or audit), not the first line.
PRMIA Reference for Verification
PRMIA Risk Appetite Guidelines
Basel & ISO 31000 Risk Management Frameworks
정답:
Explanation:
Definition of Confidence Accounting
Confidence Accounting challenges traditional accounting by introducing probability distributions and ranges rather than fixed numbers for financial reporting.
This approach improves transparency and risk awareness by acknowledging uncertainty in financial figures.
Why Answer B is Correct
Encourages using ranges (confidence intervals) instead of discrete values to better reflect uncertainty.
Used in risk-sensitive industries where financial estimates vary due to external factors (e.g., credit risk, market fluctuations).
Why Other Answers Are Incorrect
Option Explanation
A. An approach that encourages companies and audit firms to have diverse boards.
Incorrect C Board diversity is unrelated to Confidence Accounting.
C. An approach that encourages companies and audit firms to use regular statements in their AI software.
Incorrect C AI may use probability models, but Confidence Accounting is an accounting methodology, not an AI approach.
D. An approach that encourages companies and audit firms to stop using figures and maths.
Incorrect C Confidence Accounting still relies on mathematical models; it does not eliminate numerical analysis.
PRMIA Reference for Verification
PRMIA Financial Risk Reporting Standards
IFRS (International Financial Reporting Standards) Guidelines on Probability-Based Accounting
정답:
Explanation:
Definition of Key Risk Indicators (KRIs)
KRIs are quantitative metrics used to monitor risk levels and detect early warning signs of potential risk events.
Top-down KRIs are identified at the senior management level and focus on enterprise-wide risk exposure.
Key Properties of Top-Down KRIs
Selected by senior management to ensure alignment with strategic objectives.
Tied to material external and internal loss exposures to capture critical financial, operational, and strategic risks.
Used to manage changes in the business environment to ensure proactive risk response, especially under stress conditions.
Why Other Answers Are Incorrect Option
Option Explanation
B. Selected by senior management, used to manage changes in the business environment, especially under periods of stress, and reported on a daily basis.
Incorrect C Top-down KRIs are not reported daily; they are monitored periodically (e.g., quarterly).
C. Selected by junior management, used to manage changes in the business environment, especially under periods of stress, and reported on an annual basis.
Incorrect C Junior management does not define top-down KRIs; senior management does. Also, annual reporting is too infrequent.
D. Can only be selected by the board in line with risk ratings.
Incorrect C The board provides oversight, but senior risk management selects KRIs, not just the board.
PRMIA Reference for Verification
PRMIA Risk Indicator Guidelines
Basel Committee on Banking Supervision (BCBS) Principles for Effective Risk Data Aggregation
정답:
Explanation:
Process Mapping is a risk management tool used to visualize workflows, identify inefficiencies, and detect control gaps. PRMIA defines process mapping as an essential operational risk management tool.
Step 1: Understanding Process Mapping
Helps analyze complex, process-intensive activities (Option A).
Reveals control weaknesses that could lead to operational risks (Option B).
Improves hand-offs and collaboration between teams (Option C).
Step 2: Why "All of the Above" is Correct
Process mapping serves multiple risk management purposes, making all listed options valid.
PRMIA Risk Reference Used:
PRMIA Operational Risk Management Guidelines C Recommends process mapping to identify inefficiencies and control gaps.
PRMIA Risk Governance Framework C Encourages visualization tools for process improvement.
Final Conclusion:
Process mapping improves risk awareness, identifies control gaps, and enhances operational workflows, making Option D the correct answer.
정답:
Explanation:
Step 1: Definition of Climate Risk
PRMIA and global financial regulators define climate risk as the financial, operational, and societal risks arising from climate change.
Climate risks impact businesses through physical risks (e.g., floods, wildfires) and transition risks
(e.g., regulatory changes, carbon pricing).
Step 2: Why the Other Options Are Incorrect
Option A ("Climate risk has been moved out of all risk taxonomies due to international agreement") Incorrect because climate risk is now a central part of risk taxonomies, as emphasized by PRMIA, Basel III, and TCFD.
Option B ("Climate risk refers to the growing impacts of credit risk on the business environment") Incorrect because credit risk is just one aspect of climate risk, not the full definition.
Option C ("Climate risk refers to change in the business climate during a recession") Incorrect because climate risk is about environmental change, not economic cycles.
PRMIA Risk Reference Used:
PRMIA Climate Risk Guidelines C Defines climate risk as a financial and societal risk due to climate change.
TCFD (Task Force on Climate-Related Financial Disclosures) C Outlines regulatory expectations for climate risk management.
Final Conclusion:
Climate risk involves physical and transition risks from climate change, making Option D the correct answer.
정답:
Explanation:
The FTX collapse involved fraudulent fund mismanagement, where FTX executives created a "backdoor" to allow Alameda Research (FTX’s sister trading firm) to borrow client funds without their consent.
Step 1: The "Backdoor" in FTX
The backdoor was a hidden code in FTX’s system, allegedly created by Sam Bankman-Fried, which allowed Alameda to access customer deposits without triggering alerts to auditors or compliance teams.
Alameda used these funds for risky trading strategies and investments, leading to the eventual collapse of FTX when a liquidity crunch exposed the missing funds. Step 2: Why the Other Options Are Incorrect
Option A ("allowed a stablecoin to be removed from the ledger and added to the balance sheet") Incorrect because FTX’s fraud involved misuse of customer funds, not just a stablecoin misclassification.
Option C ("allowed currency traders to smooth profits and conceal losses for over two years") Incorrect because this sounds more like LIBOR-rigging scandals, whereas FTX misappropriated client funds.
Option D ("allowed a rapid pace of acquisitions but poor integration of acquired companies") Incorrect because FTX's collapse was due to financial fraud, not poor acquisition strategy.
PRMIA Risk Reference Used:
PRMIA Financial Crime Risk Management C Discusses insider risk and fraudulent misappropriation of funds.
FTX Collapse Reports C SEC, CFTC, and DOJ filings confirm that Alameda had unauthorized access to client funds.
Final Conclusion:
FTX’s backdoor enabled Alameda to take $65 billion in client funds without permission, making Option B the correct answer.
정답:
Explanation:
Impact Tolerance is a key concept in Operational Resilience, defined as the ability of a firm to withstand, respond to, and recover from disruptions. According to PRMIA and global regulatory frameworks (such as the Bank of England's Operational Resilience Framework), impact tolerance is specifically tied to business services rather than processes.
Step 1: Defining Impact Tolerance
Impact tolerance is the maximum acceptable level of disruption to an important business service, beyond which there would be intolerable harm to customers, financial markets, or regulatory obligations.
It is not the same as risk appetite or risk capacity, as those deal with broader organizational risk exposure.
Step 2: Why Business Services Matter
PRMIA defines business services as end-to-end services delivered to clients and stakeholders, such as payments processing, trade execution, or loan approvals.
Disruptions to these services directly impact customers and financial stability, making business service resilience the core focus of impact tolerance. Step 3: Why the Other Options Are Incorrect
Option A ("tolerance for disruption to a particular business process")
Incorrect because impact tolerance applies to services, not just internal processes.
Option C ("a firm's risk appetite statement")
Incorrect because risk appetite focuses on how much risk a firm is willing to take, while impact
tolerance is about surviving disruptions.
Option D ("a firm's risk capacity statement")
Incorrect because risk capacity is the maximum level of risk a firm can bear, which is broader than business service disruptions.
PRMIA Risk Reference Used:
PRMIA Operational Resilience Guidelines C Defines impact tolerance as a service-based metric. Bank of England’s Operational Resilience Framework C Establishes impact tolerance as a limit on business service disruption.
Final Conclusion:
Impact tolerance focuses on business services, not just internal processes or risk appetite, making Option B the correct answer.
정답:
Explanation:
Stafford Beer’s Viable System Model (VSM)
VSM is a cybernetic model designed to analyze and improve organizational structures.
It consists of five core subsystems that define governance and operations.
Why Answer B is Correct
The VSM does not explicitly include “Input” as a key component.
The key elements of VSM include Governance, Process, and Output, but it does not define “Input” as a standalone concept.
Why Other Answers Are Incorrect
Option Explanation
A. Governance Correct C Governance is part of VSM and deals with decision-making and oversight.
C. Process Correct C Process represents the operational functions within VSM.
D. Output Correct C Output refers to the results of the system’s operations.
PRMIA Reference for Verification
PRMIA Governance and Cybernetic Systems Guidelines
Stafford Beer’s Viable System Model Framework
정답:
Explanation:
Financial Crime Risk Management
Managing financial crime requires implementing controls, monitoring, and reporting systems to detect and prevent illegal activities.
Developing red flags and monitoring scenarios allows firms to detect suspicious transactions related to money laundering, fraud, and terrorist financing.
Why Answer C is Correct
PRMIA emphasizes that effective risk management requires proactive monitoring of transactions using red flags, transaction patterns, and anomaly detection systems.
This is aligned with Anti-Money Laundering (AML) and Counter-Terrorism Financing (CTF) regulatory requirements.
Why Other Answers Are Incorrect
Option Explanation
A. Having the business be a cash-only business and not report any transactions.
Incorrect C Cash-only businesses with no reporting are high-risk for financial crime.
B. The requirements to trace all transactions when they are entered into spreadsheets.
Incorrect C While transaction tracing is important, spreadsheets alone are not an effective control mechanism for financial crime.
D. Local regulations that allow a bank to not report transactions by family members of the board.
Incorrect C This would violate AML and financial crime regulations, increasing corruption risk.
PRMIA Reference for Verification
PRMIA Financial Crime and AML Risk Guidelines
Basel Committee on Financial Crime and Money Laundering
정답:
Explanation:
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
A. Complex structured transactions aided in the smoothing of losses.
B. Deep-in-the-money options and other complex structured transactions aided in the smoothing of losses.
D. Deep-in-the-money options aided in the smoothing of losses.
PRMIA Reference for Verification
PRMIA Fraud and Risk Management Case Studies
Basel Principles on Market Risk and Internal Control Failures
정답:
Explanation:
The Internal Loss Multiplier (ILM) is a key component of the Basel III Standardized Approach for Operational Risk. It is designed to adjust capital requirements based on a bank’s historical loss experience.
Definition of ILM
ILM is a scaling factor that adjusts the operational risk capital requirement based on a bank’s internal loss history.
It is derived using a formula that incorporates historical operational risk losses relative to a bank’s revenue.
Why ILM Exists in Basel III
Basel III replaced the Advanced Measurement Approach (AMA) with a Standardized Approach that includes ILM to ensure that banks with high historical losses hold more capital for operational risk.
Why Other Answers Are Incorrect
B. It is a non-financial factor that is based on a Incorrect C ILM is financial in nature because it directly
PRMIA Reference for Verification
PRMIA Operational Risk Standards
Basel III Standardized Approach for Operational Risk
정답:
Explanation:
Step 1: Understanding OFAC
OFAC (Office of Foreign Assets Control) is a U.S. Treasury Department agency responsible for enforcing economic and trade sanctions based on U.S. foreign policy and national security goals. It prevents financial crime by restricting transactions with sanctioned individuals, entities, and countries.
Step 2: Role of OFAC in Financial Crime Prevention
OFAC administers sanctions to prevent money laundering, terrorism financing, and other illicit activities.
Financial institutions must comply with OFAC regulations to avoid heavy fines and reputational damage.
PRMIA’s Financial Crime Risk Guidelines emphasize the importance of OFAC compliance in risk management.
Step 3: Why the Other Options Are Incorrect
Option A ("Office of Financial Asset Control") C Incorrect wording; OFAC deals with foreign assets, not just financial assets.
Option B ("Office of Foreigner and Other Control") C OFAC does not regulate foreigners broadly; it targets specific foreign assets and transactions.
Option C ("Office for Asset Control") C Missing "Foreign", which is critical to OFAC’s function.
PRMIA Risk Reference Used:
PRMIA Financial Crime Risk Management Guidelines C Emphasizes regulatory compliance with OFAC. PRMIA Compliance and Sanctions Risk Standards C Stresses the role of OFAC in preventing illicit financial activities.
Final Conclusion:
OFAC stands for the Office of Foreign Assets Control, making Option D the correct answer.
정답:
Explanation:
Risk-sensitive pricing ensures that financial institutions and businesses properly account for risk in their pricing strategies to maintain stability and sustainability. PRMIA’s Risk Pricing and Capital Adequacy Guidelines define the importance of risk-sensitive pricing in ensuring fair compensation for risk exposure and avoiding risk concentration issues.
Step 1: Why Risk-Sensitive Pricing Is Important
Aligns risk with return: Pricing should be designed to reflect the underlying risk and return trade-off.
Protects investors: Investors expect compensation for capital at risk (Option A is correct). Reinforces risk-aware culture: PRMIA promotes linking incentives to risk-adjusted returns (Option B is correct).
Prevents adverse selection: Proper risk pricing prevents low-quality assets from accumulating (Option C is correct).
Step 2: Why Option D Is Incorrect
Income targets are business-driven, not risk-driven.
Risk-sensitive pricing aims to balance risk and reward, not just maximize revenue.
PRMIA discourages profit-seeking behavior at the expense of risk considerations.
PRMIA Risk Reference Used:
PRMIA Risk Pricing Guidelines C Defines the principles of risk-sensitive pricing.
PRMIA Risk-Adjusted Return Standards C Stresses linking incentives to risk-aware decisions. PRMIA Capital Adequacy Framework C Highlights the role of risk-sensitive pricing in portfolio management.
Final Conclusion:
Risk-sensitive pricing is designed to align returns with risk exposure, not simply to meet or exceed income targets, making Option D the correct answer.
정답:
Explanation:
Team supervisors play a critical role in shaping and maintaining an organization's risk culture. PRMIA's Risk Governance Framework and Risk Culture Principles emphasize that supervisors act as the link between risk policies and frontline employees, ensuring that risk-aware behaviors are consistently followed.
Step 1: Role of Supervisors in Risk Culture Development
Supervisors engage with employees daily, providing guidance on risk-based decision-making.
They reinforce risk policies, standards, and expectations set by senior management.
Supervisors identify behavioral trends that may indicate risk culture weaknesses.
Step 2: Supervisors as Enforcers of Risk Culture
PRMIA’s Risk Culture Framework stresses that risk culture must be embedded into daily operations through supervisor-led enforcement.
Supervisors monitor, correct non-compliant behaviors, and provide ongoing risk awareness training.
Their proximity to employees allows them to detect early warning signs of risk issues.
Step 3: Why the Other Options Are Incorrect
Option A: "More experienced than the employees that report to them."
Experience alone does not establish or maintain a risk culture.
A risk culture is about behaviors and practices, not just expertise.
Option B: "Visible to regulators and can describe the firm's risk culture to inspection teams."
While supervisors may interact with regulators, their primary role is to engage with employees daily rather than acting as spokespersons.
Option D: "Visible to regulators and can describe the firm's risk culture to their board."
Boards typically rely on Chief Risk Officers (CROs) or senior executives to communicate risk culture, not direct supervisors.
PRMIA Risk Reference Used:
PRMIA Risk Culture Framework C Highlights the role of supervisors in ensuring risk-aware behaviors.
PRMIA Risk Governance Framework C Stresses that frontline supervisors must enforce risk management policies.
PRMIA Risk Awareness Guidelines C Reinforces daily interaction as a key factor in maintaining a strong risk culture.
Final Conclusion:
Supervisors directly influence employees' behaviors and ensure that risk culture is consistently followed, making Option C the correct answer.