QUIZ UPDATED PRMIA - 8011 NEW REAL TEST

Quiz Updated PRMIA - 8011 New Real Test

Quiz Updated PRMIA - 8011 New Real Test

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Tags: 8011 New Real Test, Latest 8011 Exam Objectives, 8011 Exam Score, 8011 Reliable Braindumps Sheet, Mock 8011 Exam

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PRMIA 8011 (Credit and Counterparty Manager (CCRM) Certificate) certification exam is a globally recognized credential that validates the knowledge and skills of professionals in the fields of credit and counterparty risk management. Credit and Counterparty Manager (CCRM) Certificate Exam certification exam is designed for individuals who are responsible for managing credit risk, counterparty risk, and other types of financial risks in banks, financial institutions, and other organizations.

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Latest 8011 Exam Objectives - 8011 Exam Score

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PRMIA Credit and Counterparty Manager (CCRM) Certificate Exam Sample Questions (Q244-Q249):

NEW QUESTION # 244
When doing stress tests based on historical scenarios, if no appropriate historical scenarios exist for a security, it is most INAPPROPRIATE to:

  • A. Estimate a shock factor based on other instruments that might be considered as proxies for such a security
  • B. Estimate a shock factor based upon extrapolation
  • C. Estimate a shock factor based upon interpolation
  • D. Leave the position unshocked

Answer: D

Explanation:
Where a historical shock factor does not exist for a security, for example because the security is new or was only thinly traded earlier, or because a particular emerging market was immature at the time of the historical scenario being considered, it is inappropriate to leave the position unshocked. By and large, the general rule to be followed when carrying out stress testing is to leave no position unshocked. Therefore Choice 'b' is the correct answer.
Choice 'd', Choice 'a' and Choice 'c' all represent valid approaches to estimating a shock factor in such cases.


NEW QUESTION # 245
Which of the following is the best description of the spread premium puzzle:

  • A. The spread premium puzzle refers to dollar denominated non-US sovereign bonds being priced a at significant discount to other similar USD denominated assets
  • B. The spread premium puzzle refers to AAA corporate bonds being priced at almost the same prices as equivalent treasury bonds without offering the same liquidity or guarantee as treasury bonds
  • C. The spread premium puzzle refers to observed default rates being much less than implied default rates, leading to lower credit bonds being relatively cheap when compared to their actual default probabilities
  • D. The spread premium puzzle refers to the moral hazard implicit in the monoline insurance market

Answer: C

Explanation:
Choice 'a' is the correct answer. The other choices represent non-sensical statements.


NEW QUESTION # 246
Which of the following objectives are targeted by rating agencies when assigning ratings:
I. Ratings accuracy
II. Ratings stability
III. High accuracy ratio (AR)
IV. Ranked ratings

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

Answer: A

Explanation:
Rating agencies target both accuracy and stability when they assign ratings. These two objectives can sometimes conflict, so a balance needs to be struck between the two. Rating agencies do not target any particular 'accuracy ratio' or rankings. Therefore Choice 'c' is the correct answer.


NEW QUESTION # 247
Which of the following does not affect the credit risk facing a lender institution?

  • A. Credit ratings of individual borrowers
  • B. The applicability or otherwise of mark to market accounting to the institution
  • C. The degree of geographical or sectoral concentration in the loan book
  • D. The state of the economy

Answer: B

Explanation:
The state of the economy, credit quality of individual borrowers and concentration risk are all factors that affect the credit risk facing a lender. Mark to market accounting does not change the credit risk, or the underlying economic reality facing the institution. Therefore Choice 'b' is the correct answer.


NEW QUESTION # 248
A statement in the annual report of a bank states that the 10-day VaR at the 95% level of confidence at the end of the year is $253m. Which of the following is true:
I. The maximum loss that the bank is exposed to over a 10-day period is $253m.
II. There is a 5% probability that the bank's losses will not exceed $253m III. The maximum loss in value that is expected to be equaled or exceeded only 5% of the time is $253m IV. The bank's regulatory capital assets are equal to $253m

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

Answer: B

Explanation:
Statement I is not correct as VaR does not set an upper limit on losses. In this case, the bank expects the losses to exceed $253m 5% of the times, and the VaR number does not indicate any theoretical maximum amount of losses.Statement II is incorrect as there is a 95% (and not 5%) probability that the bank's losses will not exceed $253mStatement III is correct and describes VaR.Statement IV is incorrect, as regulatory capital is a more complex computation for which VaR is only one of the various input.Therefore Choice 'b' is the correct answer.


NEW QUESTION # 249
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