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PRMIA 8020 Exam Syllabus Topics:

Topic	Details
Topic 1	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.
Topic 2	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.
Topic 3	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.
Topic 4	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 ORM Certificate - 2023 Update Sample Questions (Q47-Q52):

NEW QUESTION # 47
The The Task Force on Climate-related Financial Disclosures (TCFD) was founded by which body?

A. The European Commission (EC).
B. The Financial Stability Board (FSB).
C. The United Nations (UN).
D. The World Bank (WB).

Answer: B

NEW QUESTION # 48
For the National Australia Bank - FX Options case study, large and unusual transaction activity was a concern for what reason?

A. Deep-in-the-money options and other complex structured transactions aided in the smoothing of profits and losses.
B. Deep-in-the-money options and other complex structured transactions aided in the smoothing of losses.
C. Complex structured transactions aided in the smoothing of losses.
D. Deep-in-the-money options aided in the smoothing of losses.

Answer: A

Explanation:
The National Australia Bank (NAB) FX Options Case Study is a well-known example of operational risk, fraud, and governance failure.
What Happened?
Traders engaged in unauthorized foreign exchange (FX) options trading, using deep-in-the-money options and other complex instruments.
They manipulated profits and losses to smooth earnings and mislead risk managers and auditors.
Why Answer C is Correct
The traders smoothed both profits and losses to avoid detection and ensure continued trading bonuses.
This aligns with PRMIA's Operational Risk Management Guidelines, which highlight that hidden trading losses and smoothing techniques increase financial crime risk.
Why Other Answers Are Incorrect
Option
Explanation:
A . Complex structured transactions aided in the smoothing of losses.
Incorrect - Smoothing occurred with both profits and losses, not just losses.
B . Deep-in-the-money options and other complex structured transactions aided in the smoothing of losses.
Incorrect - Profits were also manipulated, making this answer incomplete.
D . Deep-in-the-money options aided in the smoothing of losses.
Incorrect - This focuses only on deep-in-the-money options and ignores other structured transactions involved in the fraud.
PRMIA Reference for Verification
PRMIA Fraud and Risk Management Case Studies
Basel Principles on Market Risk and Internal Control Failures

NEW QUESTION # 49
Compliance departments traditionally provide policy, oversight, and set the standards for monitoring personal dealing. Which control below would assist in implementing such policies?

A. Outsourcing of the policy writing to an accounting firm at least once every 5 years.
B. Outsourcing of the policy writing to an accounting firm at least once every 3 years.
C. Watch lists of stocks that are not allowed to be traded for a period of time, for instance, ahead of a securities offering that the firm is managing.
D. A list of approved suppliers that have been added to the outsourcing policy.

Answer: C

Explanation:
Definition of DORA
The Digital Operational Resilience Act (DORA) is a regulation by the European Union (EU) aimed at strengthening the digital resilience of financial institutions.
It establishes a regulatory framework for managing information and communication technology (ICT) risks in the financial sector.
Key Objectives of DORA
Ensures that financial institutions can withstand, respond to, and recover from cyber threats and ICT-related disruptions.
Introduces standards for risk management, incident reporting, and third-party ICT risk oversight.
Why Other Answers Are Incorrect
Option
Explanation:
A . Domain for Operational Risk Act.
Incorrect - No such regulation exists under this name.
B . Digital Operational Risk Act.
Incorrect - The official name is Digital Operational Resilience Act (DORA).
C . Daily Operational Resilience Act.
Incorrect - DORA is not focused on daily operations but rather long-term digital resilience.
PRMIA Reference for Verification
PRMIA Risk Governance & Digital Resilience Standards
European Commission's Official DORA Regulation

NEW QUESTION # 50
Confidence Accounting can be defined as:

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

Answer: D

Explanation:
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

NEW QUESTION # 51
In order for a KRI to be effective it must be:

A. Quantitative, Consistent and Comparable. Efficient & Repeatable
B. Qualitative, Consistent Efficient & Repeatable.
C. Quantitative and Qualitative. Consistent. Efficient & Repeatable.
D. Quantitative, Repeatable and Efficient.

Answer: C

Explanation:
Definition of an Effective Key Risk Indicator (KRI)
A KRI is a metric used to identify, measure, and monitor emerging risks.
To be effective, KRIs must be both quantitative and qualitative, allowing for a comprehensive risk view.
Key Characteristics of Effective KRIs
Quantitative - Uses numerical data for trend analysis.
Qualitative - Incorporates expert judgment and scenario-based insights.
Consistent - Maintains uniform definitions across reporting periods.
Efficient & Repeatable - Must be easily measured and consistently reported.
Why Other Answers Are Incorrect
Option
Explanation:
B . Qualitative, Consistent, Efficient & Repeatable.
Incorrect - Excludes quantitative aspects, which are essential for KRIs.
C . Quantitative, Consistent, Comparable, Efficient & Repeatable.
Incorrect - While comparison is useful, qualitative factors are missing, making this answer incomplete.
D . Quantitative, Repeatable and Efficient.
Incorrect - Lacks qualitative insights and consistency as key factors for KRIs.
PRMIA Reference for Verification
PRMIA Risk Indicator Guidelines
Basel Committee's Principles on Risk Data and KRI

NEW QUESTION # 52
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Pass Guaranteed Quiz 2025 8020: ORM Certificate - 2023 Update–High Pass-Rate Cheap Dumps

PRMIA 8020 Exam Syllabus Topics:

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PRMIA ORM Certificate - 2023 Update Sample Questions (Q47-Q52):

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