Free PRMIA 8009 Exam Dumps Questions & Answers

A risk manager finds that a client is engaged in a practice that looks like money laundering.
According to the PRMIA Standards of Best Practice, Conduct and Ethics (Code of Conduct), the risk manager should:

• A.  Approach the client about the concern, regardless of what their reaction might be
• B.  Respect the client's confidentiality as that takes precedence
• C.  Report this conduct to their immediate supervisor
• D.  Report the findings immediately to authorities

The Bankers Trust Case Study is about:

• A.  large losses at the proprietary trading desk
• B.  overexposure to the real estate market
• C.  failure to guard its clients' best interests
• D.  reliance on thinly traded derivatives to hedge

Which of the following are PRMIA Governance Principles?
I. Sufficiency of Key Resources and Process
II. State of the Art Risk Management Technology
III. Ongoing Education and Discernment
IV. Sufficiency of Key Competencies

• A.  I, II and IV only
• B.  I, III and IV only
• C.  I and II only
• D.  All of these are PRMIA Governance Principles

A risk assessment report generated by a PRMIA member creates an apparent conflict of interest between the PRMIA standards and those of the client organization.
Of the following, which is the correct hierarchy to follow to resolve the conflict?
I. The decision of a superior within the organization
II. PRMIA Standards
III. Guidelines from the regulators in which the organization operates
IV. The laws of the country

• A.  II, I, IV, and III
• B.  I, II, III, and IV
• C.  IV, III, II, and I
• D.  III, II, IV, and I

A risk manager is asked to analyze the credit risk of a convertible bond. The risk manager has never analyzed convertible bonds, but does have significant expertise in credit risk. The risk manager accepts the assignment, finds a paper on the subject through the PRMIA web site and copies the method used there. The risk manager completes the assignment and delivers a report to his or her direct supervisor and the supervisor is quite pleased.
According to the PRMIA Standards of Best Practice, Conduct and Ethics (Code of Conduct), this was acceptable behavior if the following conditions were met:
I. The risk manager disclosed the lack of knowledge about convertible bonds II. The methodology employed is disclosed and explained III. The report was just to be used for analysis and not in practice IV. The risk manager was sure of his/her understanding of the paper found on the web

• A.  I and II
• B.  I, II and III
• C.  I, II and IV
• D.  I only