PRMIA 8010 Operational Risk Manager (ORM) Exam Online Training
PRMIA 8010 Online Training
The questions for 8010 were last updated at Jul 22,2025.
- Exam Code: 8010
- Exam Name: Operational Risk Manager (ORM) Exam
- Certification Provider: PRMIA
- Latest update: Jul 22,2025
Which of the following credit risk models relies upon theanalysis of credit rating migrations to assess credit risk?
- A . KMV’s EDF based approach
- B . The CreditMetrics approach
- C . The actuarial approach
- D . The contingent claims approach
Which of the following is closest to the description of a ‘risk functional’?
- A . A risk functional is the distribution thatmodels the severity of a risk
- B . A risk functional is a model distribution that is an approximation of the true loss distribution of a risk
- C . Risk functional refers to the Kolmogorov-Smirnov distance
- D . A risk functional assigns a penalty value for the difference between a model distribution and a risk’s severity distribution
A bullet bond and an amortizing loan are issued at the same time with the same maturity and with the same principal .
Which of these would have a greater credit exposure halfway through their life?
- A . Indeterminate with the given information
- B . They would have identical exposure half way through their lives
- C . The amortizing loan
- D . The bullet bond
Which of the following are ordered correctly in the order of debt seniority in a bankruptcy situation?
I. Equity, Subordinate debt, Senior debt
II. Senior debt, Preferred stock, Equity
III. Secured debt, Accounts payable, Preferred stock
IV. Secured debt, DIP financing, Equity
- A . II and III
- B . I and IV
- C . I
- D . II, III and IV
Which of the following is the most accurate description of EPE (Expected Positive Exposure):
- A . The maximum average credit exposure over a period of time
- B . The price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date
- C . Weighted average of the future positive expected exposure across a time horizon.
- D . The average of the distribution of positive exposures at a specified future date
The probability of default of a security over a 1 year period is 3% .
What is the probability that it would not have defaulted at theend of four years from now?
- A . 11.47%
- B . 88.53%
- C . 12.00%
- D . 88.00%
Which of the following cannot be used as an internal credit rating model to assess an individual borrower:
- A . Distance to default model
- B . Probit model
- C . Logit model
- D . Altman’s Z-score
Which of the following carry greater counterparty risk: a forward contract on a 10 year note, or a commercial paper carrying a AA credit rating with identical maturity and notional?
- A . The forward contract has greater credit risk as its future gains are unknown
- B . Credit risk can not be compared in these terms
- C . They both carry the same credit risk
- D . The commercial paper has greater credit risk as the entire notional is outstanding
If the cumulative default probabilities of default for years 1 and 2 for a portfolio of credit risky assets is 5% and 15% respectively, what is the marginal probability of default in year 2 alone?
- A . 15.79%
- B . 10.53%
- C . 10.00%
- D . 11.76%
For a loan portfolio, unexpected losses are charged against:
- A . Credit reserves
- B . Economic credit capital
- C . Economic capital
- D . Regulatory capital
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