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PRMIA 8010 Exam Syllabus Topics:
| Section | Weight | Objectives |
|---|---|---|
| Topic 1: Operational Risk Capital | 6% | - Capital Concepts & Basel III Context |
| Topic 2: Introduction | 2% | - Overview of Operational Risk Management |
| Topic 3: Risk Management Framework | 10% | - Risk Appetite, Policies, Culture |
| Topic 4: Operational Resilience | 4% | - Resilience Concepts and Practices |
| Topic 5: Compliance Risk | 6% | - Compliance Risk Framework |
| Topic 6: Case Studies | 6% | - Applied Operational Risk Scenarios |
| Topic 7: Risk Assessment | 10% | - Risk Identification and Assessment Techniques |
| Topic 8: Risk Governance | 6% | - Governance Principles and Risk Roles |
| Topic 9: Risk Information | 10% | - Loss Data, KRIs and Reporting |
PRMIA Operational Risk Manager (ORM) Sample Questions:
1. For a back office function processing 15,000 transactions a day with an error rate of 10 basis points, what is the annual expected loss frequency (assume 250 days in a year)
A) 3750
B) 0.06
C) 375
D) 37500
2. The definition of operational risk per Basel II includes which of the following:
I. Riskof loss resulting from inadequate or failed internal processes, people and systems or from external events II. Legal risk III. Strategic risk IV. Reputational risk
A) I, II, III and IV
B) II and III
C) I and III
D) I and II
3. The probability of default of a security over a 1 year period is 3%. What is the probability that it would have defaulted within 6 months?
A) 3.00%
B) 98.49%
C) 1.51%
D) 17.32%
4. A bank expects the error rate in transaction data entry for a particular business process to be 0.005%. What is the range of expected errors in a day within +/- 2 standard deviations if there are 2,000,000 such transactions each day?
A) 60 to 80 errors in a day
B) 80 to 120 errors in a day
C) 90 to 110 errors in a day
D) 0 to 200 errors in a day
5. If the loss given default is denoted by L, and the recovery rate by R, then which of the following represents the relationship between loss given default and the recovery rate?
A) L = 1 + R
B) R = 1 / L
C) R = 1 - L
D) R = 1 + L
Solutions:
| Question # 1 Answer: A | Question # 2 Answer: D | Question # 3 Answer: C | Question # 4 Answer: B | Question # 5 Answer: C |
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