PRMIA 8010 Operational Risk Manager (ORM) Exam Online Training
PRMIA 8010 Online Training
The questions for 8010 were last updated at Apr 09,2025.
- Exam Code: 8010
- Exam Name: Operational Risk Manager (ORM) Exam
- Certification Provider: PRMIA
- Latest update: Apr 09,2025
Which of the following statements are true:
I. Top down approaches help focus management attention on the frequency and severity of loss events, while bottom up approaches do not.
II. Top down approaches rely upon high level data while bottom up approaches need firm specific risk data to estimate risk.
III. Scenario analysis can help capture both qualitative and quantitative dimensions of operational risk.
- A . III only
- B . II and III
- C . I only
- D . II only
When compared to a medium severity medium frequency risk, the operational risk capital requirement for a high severity very low frequency risk is likely to be:
- A . Higher
- B . Lower
- C . Zero
- D . Unaffected by differences in frequency or severity
The sum of the stand alone economic capital of all the business units of a bank is:
- A . less than the economic capital for the firm as a whole
- B . more than the economic capital for the firm as a whole
- C . equalto the economic capital for the firm as a whole
- D . unrelated to the economic capital for the firm as a whole
Which of the following is not a permitted approach under Basel II for calculating operational riskcapital
- A . the internal measurement approach
- B . the basic indicator approach
- C . the standardized approach
- D . the advanced measurement approach
Which of the following statements are true?
I. Risk governance structures distribute rights and responsibilities among stakeholders in the corporation
II. Cybernetics is the multidisciplinary study of cyber risk and control systems underlying information systems in an organization
III. Corporate governance is a subset of the larger subject of risk governance
IV. The Cadbury report was issued in the early 90s and was one of the early frameworks for corporate governance
- A . I, II and IV
- B . I and IV
- C . II and III
- D . All of the above
The generalized Pareto distribution, when used in the context of operational risk, is used to model:
- A . Tail events
- B . Average losses
- C . Unexpected losses
- D . Expected losses
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
Which loss event type is the failure to timely deliver collateral classified as under the Basel II framework?
- A . Clients, products and business practices
- B . External fraud
- C . Information security
- D . Execution, Delivery & Process Management
An error by a third party service provider results in a loss to a client that the bank has to make up. Such as loss would be categorized per Basel IIoperational risk categories as:
- A . Execution delivery and process management
- B . Outsourcing loss
- C . Business disruption and process failure
- D . Abnormal loss
Which of the following is not one of the ‘three pillars’ specified in the Basel accord:
- A . Market discipline
- B . Supervisory review
- C . National regulation
- D . Minimum capital requirements
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