Free PRMIA 8020 Exam Dumps Questions & Answers

What are the objectives of conducting an internal loss investigation?

• A.  This is determined on a case by case basis by the HR team.
• B.  Increase understanding of root causes, focus attention on who caused the issue, and improve the quality of scenario analysis and risk assessments.
• C.  Increase understanding of root causes, focus attention on remediation, and improve the quality of scenario analysis and risk assessments.
• D.  Increase understanding of root causes, focus attention on remediation, and ascertain responsibility for the loss event.

Which of the following principles best applies to a compliance function?

• A.  The compliance function should report to the business (even when following a three lines of defense model).
• B.  The compliance function should be outsourced if there is a risk function.
• C.  The compliance function should be independent of the business (following a three lines of defense model).
• D.  The risk function should be outsourced if there is a compliance function.

In operational resilience, what is impact tolerance?

• A.  Impact tolerance is a firm's tolerance for disruption to a particular business process.
• B.  Impact tolerance is a firm's risk capacity statement.
• C.  Impact tolerance is a firm's tolerance for disruption to a particular business service.
• D.  Impact tolerance is a firm's risk appetite statement.

Which of the following are the most relevant ways a firm can ensure they are in line with consumer protection?

• A.  This risk cannot be managed.
• B.  Add a consumer protection section to all reports.
• C.  Engage with consumers once there are enough complaints.
• D.  Treat customers fairly, place customer interests ahead of its own and keep promises to customers

For the TSB case what was the cause of the outage at the heart of the case?

• A.  Their IT models did not work if prices were discontinuous.
• B.  Sub-standard risk pricing and risk management left millions of people locked out of their accounts for weeks.
• C.  A liquidity squeeze by a major hedge-fund via margin calls on trading positions resulted in the collapse of their website.
• D.  A failed attempts to move customers to a new IT system left millions of people locked out of their accounts for weeks.