100% Pass Fantastic PRMIA - 8011 - Credit and Counterparty Manager (CCRM) Certificate Exam PDF Question

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PRMIA 8011 exam is targeted towards professionals who are involved in credit and counterparty risk management, such as credit analysts, credit risk managers, and credit portfolio managers. 8011 exam is also suitable for professionals who work in related fields, such as investment banking, corporate finance, and risk consulting. 8011 exam is rigorous and requires a deep understanding of the principles and practices of credit and counterparty risk management. Successful completion of the exam demonstrates a high level of expertise in this area and can lead to increased career opportunities and advancement.

PRMIA 8011 exam is made up of 80 multiple-choice questions, to be answered within a three-hour time limit. 8011 exam is computer-based and is accessible through various testing centres around the world. The passing mark for the exam is 60%, and candidates who successfully pass the exam will earn the prestigious PRMIA CCRM designation, marking them as experts in credit and counterparty risk management.

The Professional Risk Manager's International Association (PRMIA) is a global non-profit organisation dedicated to promoting sound risk management standards and practices throughout the financial industry. As part of their goal, the association offers various certifications designed to benefit risk professionals in pursuing their career goals. Among these is the PRMIA 8011 or Credit and Counterparty Manager (CCRM) Certificate exam.

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PRMIA Credit and Counterparty Manager (CCRM) Certificate Exam Sample Questions (Q41-Q46):

NEW QUESTION # 41
In January, a bank buys a basket of mortgages with a view to securitize them by April. Due to an unexpected lack of investors in the securitization market, it is unable to do so and is left with the exposure to the mortgages on its books. This is an example of:

A. Pipeline and warehousing risk
B. Market risk
C. Basis risk
D. Wrong-way risk

Answer: A

Explanation:
This is an example of pipeline and warehousing risk. Generally there is a lag between acquiring assets and securitizing them due to the legal work to be done, the work to be done by the ratings agencies and in finding investors. During this period, the bank is exposed to the underlying assets purchased, and this is the 'pipeline and warehousing' risk as these assets are in the pipeline and warehoused for intended subsequent sale.
Generally this period tends to be short. However, during the credit crisis this became a significant source of risk as many banks were left exposed to risk they had intended to get rid of, but could not do so as the market dried up. The other choices are all incorrect.
Note that pipeline and warehousing risk is also known as 'securitzation risk'. It means that funding from securitization cannot be relied upon as a matter of fact.

NEW QUESTION # 42
What does a middle office do for a trading desk?

A. Risk analysis
B. Operations
C. Reconciliations
D. Transaction data entry

Answer: A

Explanation:
The 'middle office' is a term used for the risk management function, therefore Choice 'd' is the correct answers. The other functions describe what the 'back office' does (IT, accounting). The 'front office' includes the traders.

NEW QUESTION # 43
Regulatory arbitrage refers to:

A. All of the above
B. the practice of transferring business and profits to jurisdictions (such as those in other countries) to avoid or reduce capital adequacy requirements
C. the practice of investing and financing decisions being driven by associated regulatory capital requirements as opposed to the true underlying economics of these decisions
D. the practice of structuring a financial institution's business as a bank holding company to arbitrage the differing capital and credit rating requirements for different business lines

Answer: C

Explanation:
The correct answer is Choice 'c'. The other choices do not refer to 'regulatory arbitrage'.

NEW QUESTION # 44
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. 80 to 120 errors in a day
B. 60 to 80 errors in a day
C. 0 to 200 errors in a day
D. 90 to 110 errors in a day

Answer: A

Explanation:
Error rates are generally modeled using the Poisson distribution. Recall that the Poisson distribution has only one parameter -#- which is its mean and also its variance.
In the given case, the mean number of errors is 2,000,000 x 0.005% = 100. Since this is the variance as well, the standard deviation is #100 = 10. Therefore the range of outcomes within 2 standard deviations of the mean is 100 +/- (2*10) = 80 to 120 errors in a day.

NEW QUESTION # 45
A risk analyst analyzing the positions for a proprietary trading desk determines that the combined annual variance of the desk's positions is 0.16. The value of the portfolio is $240m. What is the 10-day stand alone VaR in dollars for the desk at a confidence level of 95%? Assume 250 trading days in a year.

A. 0
B. 1
C. 2
D. 3

Answer: A

Explanation:
The z value at the 95% confidence level is 1.64. Since the variance is 0.16, the annual volatility is 40%.
Therefore the daily volatility is 40% x #10/250 = 8%. The VaR therefore is 8% x 1.64 x $240m = $31,488,000

NEW QUESTION # 46
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