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PRMIA 8020 Prüfungsplan:

Thema
Einzelheiten

Thema 1

Risk Management Framework: This section of the exam measures the skills of Risk Managers and covers the development and implementation of structured approaches for risk identification, evaluation, and mitigation. It includes industry-standard frameworks that guide risk strategy and decision-making. A key skill measured is establishing a risk management framework for organizations.

Thema 2

Insurance Mitigation: This section of the exam measures the skills of Insurance Risk Managers and covers strategies for transferring risk through insurance and other financial instruments. It focuses on risk transfer mechanisms, policy structuring, and claims management. A key skill measured is assessing risk transfer options through insurance.

Thema 3

Risk Assessment: This section of the exam measures the skills of Financial Risk Analysts and covers methodologies for evaluating risks in different domains, including qualitative and quantitative approaches. It focuses on assessing vulnerabilities, threats, and potential impacts on business operations. A key skill measured is conducting risk impact analysis for financial threats.

Thema 4

Risk Governance: This section of the exam measures the skills of Compliance Officers and covers the policies, structures, and processes that define how organizations oversee risk. It explores regulatory compliance, ethical considerations, and corporate governance frameworks to ensure accountability. A key skill measured is applying governance frameworks to organizational risk policies.

Thema 5

Case Studies: This section of the exam measures the skills of Business Risk Consultants and covers real-world applications of risk management concepts. It examines case studies on risk governance, assessment, and mitigation strategies across different industries. A key skill measured is analyzing historical risk events for strategic insights.

Thema 6

Risk Modeling: This section of the exam measures the skills of Quantitative Risk Analysts and covers mathematical and statistical techniques used to predict risk scenarios. It explores model development, validation, and application in financial and operational risk management. A key skill measured is applying statistical models for risk prediction.

Thema 7

Introduction: This section of the exam measures the skills of Risk Analysts and covers fundamental concepts of risk governance, management, and assessment. It introduces key principles, regulatory frameworks, and industry best practices for identifying and addressing risks. A key skill measured is understanding the foundational principles of risk management.

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PRMIA 8020 Prüfung Übungen und Antworten

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PRMIA ORM Certificate - 2023 Update 8020 Prüfungsfragen mit Lösungen (Q34-Q39):

34. Frage
For the FTX case study, what was the "backdoor" used for?

A. It allowed currency traders to smooth profits and conceal losses for over two years.
B. It allowed trading firm Alameda to borrow S65 billion of clients' money from the exchange without their permission.
C. It allowed a rapid pace of acquisitions but poor integration of acquired companies.
D. It allowed a stable coin to be removed from the ledger and added to the balance sheet.

Antwort: B

Begründung:
The FTX collapse involved fraudulent fund mismanagement, where FTX executives created a "backdoor" to allow Alameda Research (FTX's sister trading firm) to borrow client funds without their consent.
Step 1: The "Backdoor" in FTX
The backdoor was a hidden code in FTX's system, allegedly created by Sam Bankman-Fried, which allowed Alameda to access customer deposits without triggering alerts to auditors or compliance teams.
Alameda used these funds for risky trading strategies and investments, leading to the eventual collapse of FTX when a liquidity crunch exposed the missing funds.
Step 2: Why the Other Options Are Incorrect
Option A ("allowed a stablecoin to be removed from the ledger and added to the balance sheet") Incorrect because FTX's fraud involved misuse of customer funds, not just a stablecoin misclassification.
Option C ("allowed currency traders to smooth profits and conceal losses for over two years") Incorrect because this sounds more like LIBOR-rigging scandals, whereas FTX misappropriated client funds.
Option D ("allowed a rapid pace of acquisitions but poor integration of acquired companies") Incorrect because FTX's collapse was due to financial fraud, not poor acquisition strategy.
PRMIA Risk Reference Used:
PRMIA Financial Crime Risk Management - Discusses insider risk and fraudulent misappropriation of funds.
FTX Collapse Reports - SEC, CFTC, and DOJ filings confirm that Alameda had unauthorized access to client funds.
Final Conclusion:
FTX's backdoor enabled Alameda to take $65 billion in client funds without permission, making Option B the correct answer.

35. Frage
Which of the below is accurate about a risk assessment workshop?

A. Compliance experts should not attend the workshop so that proper discussion can take place.
B. Although workshops will take on their own form; it is best to prepare thoroughly ahead of time.
C. The workshop should be run spontaneously so that proper discussion can take place.
D. Risk management should not attend the workshop so that proper discussion can take place.

Antwort: B

Begründung:
Step 1: What Is a Risk Assessment Workshop?
A risk assessment workshop is a structured session where key stakeholders identify, evaluate, and prioritize risks.
Effective workshops require preparation, clear objectives, and structured discussions to ensure meaningful risk analysis.
Step 2: Why Option B is Correct
PRMIA and best practices recommend thorough preparation, including:
Setting objectives
Defining risk categories
Ensuring participation from risk, compliance, and business units
Providing risk assessment tools/templates
Step 3: Why the Other Options Are Incorrect
Option A ("Run spontaneously") → Incorrect because lack of preparation leads to poor discussions and missed risks.
Option C ("Risk management should not attend") → Incorrect because risk managers provide key expertise to guide discussions.
Option D ("Compliance experts should not attend") → Incorrect because compliance provides regulatory insights essential to risk assessment.
PRMIA Risk Reference Used:
PRMIA Risk Assessment Framework - Recommends structured, well-prepared workshops.
ISO 31000 Risk Management Standard - Supports proactive workshop planning.
Final Conclusion:
Risk assessment workshops should be well-prepared to ensure meaningful discussions and effective risk identification, making Option B the correct answer.

36. Frage
Confidence Accounting can be defined as:

A. An approach that encourages companies and audit firms to use regular statements in their Al software.
B. An approach that encourages companies and audit firms to have diverse boards.
C. An approach that encourages companies and audit firms to stop using figures and maths.
D. An approach that encourages companies and audit firms to use ranges, rather than discrete numbers, for major accounting entries.

Antwort: D

Begründung:
Definition of Confidence Accounting
Confidence Accounting challenges traditional accounting by introducing probability distributions and ranges rather than fixed numbers for financial reporting.
This approach improves transparency and risk awareness by acknowledging uncertainty in financial figures.
Why Answer B is Correct
Encourages using ranges (confidence intervals) instead of discrete values to better reflect uncertainty.
Used in risk-sensitive industries where financial estimates vary due to external factors (e.g., credit risk, market fluctuations).
Why Other Answers Are Incorrect
Option
Explanation:
A . An approach that encourages companies and audit firms to have diverse boards.
Incorrect - Board diversity is unrelated to Confidence Accounting.
C . An approach that encourages companies and audit firms to use regular statements in their AI software.
Incorrect - AI may use probability models, but Confidence Accounting is an accounting methodology, not an AI approach.
D . An approach that encourages companies and audit firms to stop using figures and maths.
Incorrect - Confidence Accounting still relies on mathematical models; it does not eliminate numerical analysis.
PRMIA Reference for Verification
PRMIA Financial Risk Reporting Standards
IFRS (International Financial Reporting Standards) Guidelines on Probability-Based Accounting

37. Frage
ISO 27000 relates to what topic / area?

A. Environmental, social, and governance (ESG) investing.
B. International Risk Management.
C. Information Security Systems.
D. Auditing of financial controls.

Antwort: C

Begründung:
Step 1: Definition of ISO 27000
ISO 27000 is a global standard for information security management systems (ISMS), issued by the International Organization for Standardization (ISO).
It provides a framework for protecting sensitive information through policies, controls, and risk management practices.
Step 2: Why Option B Is Correct
ISO 27001 (part of ISO 27000 series) is one of the most widely recognized certifications for information security governance.
It sets guidelines on risk assessment, incident response, and data protection.
Step 3: Why the Other Options Are Incorrect
Option A ("ESG investing")
Incorrect because ISO 27000 deals with cybersecurity, not environmental, social, and governance (ESG) issues.
Option C ("International Risk Management")
Incorrect because ISO 27000 focuses on information security, not general risk management.
Option D ("Auditing of financial controls")
Incorrect because financial auditing standards (e.g., SOX, COSO) are separate from information security standards.
PRMIA Risk Reference Used:
ISO 27000 Series Documentation - Defines cybersecurity risk management practices.
PRMIA IT Risk Governance Framework - Reference ISO 27001 as a cybersecurity standard.

38. Frage
Which of the following statements best defines the properties of top-down key risk indicators?

A. Selected by junior management, used to manage changes in the business environment especially under periods of stress, and reported on an annual basis
B. Selected by senior management, used to manage changes in the business environment especially under periods of stress, and reported on a daily basis.
C. Selected by senior management, tied to material external and internal loss exposures and scenarios, and used to manage changes in the business environment, especially under periods of stress.
D. Can only be selected by the board in line with risk ratings.

Antwort: C

Begründung:
Definition of Key Risk Indicators (KRIs)
KRIs are quantitative metrics used to monitor risk levels and detect early warning signs of potential risk events.
Top-down KRIs are identified at the senior management level and focus on enterprise-wide risk exposure.
Key Properties of Top-Down KRIs
Selected by senior management to ensure alignment with strategic objectives.
Tied to material external and internal loss exposures to capture critical financial, operational, and strategic risks.
Used to manage changes in the business environment to ensure proactive risk response, especially under stress conditions.
Why Other Answers Are Incorrect
Option
Explanation:
B . Selected by senior management, used to manage changes in the business environment, especially under periods of stress, and reported on a daily basis.
Incorrect - Top-down KRIs are not reported daily; they are monitored periodically (e.g., quarterly).
C . Selected by junior management, used to manage changes in the business environment, especially under periods of stress, and reported on an annual basis.
Incorrect - Junior management does not define top-down KRIs; senior management does. Also, annual reporting is too infrequent.
D . Can only be selected by the board in line with risk ratings.
Incorrect - The board provides oversight, but senior risk management selects KRIs, not just the board.
PRMIA Reference for Verification
PRMIA Risk Indicator Guidelines
Basel Committee on Banking Supervision (BCBS) Principles for Effective Risk Data Aggregation

39. Frage
......

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