Practice PRMIA 8008 Exam Questions

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

Which of the below are a way to classify risk governance structures: A Reactive, Preventative and Active B. Committee based, regulation based and board mandated C. Top - down and Bottom - up D. Active and Passive

Which of the following are a CRO's responsibilities: I. Statutory financial reporting II. Reporting to the audit committee III. Compliance with risk regulatory standards IV. Operational risk

Which of the following statements are correct? I. A reliance upon conditional probabilities and a - priori views of probabilities is called the 'frequentist' view II. Knightian uncertainty refers to things that might happen but for which probabilities cannot be evaluated III. Risk mitigation and risk elimination are approaches to reacting to identified risks IV. Confidence accounting is a reference to the accounting frauds that were seen in the past decade as a reflection of failed governance processes

Which of the following statements are correct in relation to the financial system just prior to the current financial crisis: I. The system was robust against small random shocks, but not against large scale disturbances to key hubs in the network II. Financial innovation helped reduce the complexity of the financial network III. Knightian uncertainty refers to risk that can be quantified and measured IV. Feedback effects under stress accentuated liquidity problems