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The Risk Management Infrastructure of an organization must: I. To the extent possible, avoid silos of control and oversight II. Have budgets set by the business unit leaders III. Actively provide ongoing professional development for risk management staff and require them to be committed to standards of best practice, conduct...

John Smith wants to run for election to the Board of Directors of PRMIA. To be nominated, he needs: A. The backing of three other members B. To go through a screening process conducted by the Nominations Committee C. The backing of 6% of local members D. The backing of...

The Fortress Re finite reinsurance modelA . allowed Fortress to claim re-insurance claims payments from the finite reinsurers and paid premiums to cover these deals over a 5 year period, and as the risks were spread out over time the annual premiums were accounted for as current liabilities on the...

The Chief Risk Officer is responsible for the management of the Risk Management Infrastructure, and as such helps the Board define, and then implements throughout the organization, the risk appetite of the organization. Which of the following is also the responsibility of the Chief Risk Officer?A . Maintaining appropriate assurance...

As a PRMIA member, you have certain responsibilities. Among these are the requirement(s) to:A . Vote in Board electionsB . Attend at least one PRMIA chapter meeting per yearC . Adhere to the PRMIA Standards of Best Practice, Conduct and EthicsD . All of the aboveView AnswerAnswer: C

The Chair of the PRMIA Board of Directors may hold the following offices:A . ParliamentarianB . SecretaryC . Vice ChairD . Chair onlyView AnswerAnswer: D

Select the one correct statement relative to Barings Bank.A . Proprietary and agency trading were combined and therefore did not increase risk.B . Proprietary and agency trading were separate and therefore did not increase risk.C . Proprietary and agency trading were combined and therefore did increase risk.D . Proprietary and...

The failure of Washington Mutual was NOT due to which one of the following?A . Using a combination of subprime mortgage loans and credit cardsB . It failed due to the poor quality of its assetsC . Low lending standards and bad quality acquisitionsD . A run on its deposits...

Employees shall be remunerated adequately for the roles that they perform, where 'adequately' is definedA . as being the market norm for similarly situated personnel in competitive organizationsB . using external references and benchmarks, and in a framework which is consistent with the type of risk-taking behavior expected of employeesC...

For the sentence "The organization should have at its disposal employees who have adequate _________, ________ and _______ to perform the tasks assigned to them", Choose the correct combination of words from the following options:A . knowledge, skills, expertiseB . experience, skills, previous successesC . risk appetite, knowledge, expertiseD ....