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8011 Reliable Test Notes, Exam 8011 Experience

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PRMIA 8011 Credit and Counterparty Manager (CCRM) Certificate is a comprehensive certification program that provides professionals with the skills and knowledge necessary to manage credit and counterparty risk in financial institutions. The CCRM exam covers a range of topics related to credit and counterparty risk management, and passing the exam demonstrates a candidate's knowledge and expertise in these areas. Credit and Counterparty Manager (CCRM) Certificate Exam certification is highly regarded in the financial industry and provides professionals with a competitive edge in the job market.

PRMIA 8011 Exam is a comprehensive certification that is highly valued in the financial industry. It is designed to provide professionals with the knowledge and skills needed to manage credit and counterparty risk effectively, and it is recognized by many leading financial institutions around the world. Credit and Counterparty Manager (CCRM) Certificate Exam certification is a testament to the individual's expertise in credit and counterparty risk management.

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PRMIA Credit and Counterparty Manager (CCRM) Certificate Exam Sample Questions (Q69-Q74):

NEW QUESTION # 69
Which of the following is true in relation to a Contingency Funding Plan (CFP)?
I. A CFP is like a disaster recovery plan to deal with a liquidity crisis II. A CFP should consider market stress conditions, but failures of payment systems are not relevant as they fall under the remit of operational risk III. Reputational damage may result if the market finds out that a firm has had to execute its CFP IV. Sources of emergency funding considered in the CFP should include the role of the central bank as the lender of last resort

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

Answer: C

Explanation:
A CFP is indeed a disaster recovery plan to deal with a liquidity crisis. Therefore statement I is correct.
A CFP should consider market stress conditions, including wide scale failures of payment and settlement systems. Statement II is not correct.
It is true that reputational damage may result if a firm has to activate its CFP - therefore the plan should consider internal and external communications, the timing of information release and the groups within the firm who need to know about the implementation of the plan. Reputational damage can only make any existing liquidity problems worse. Statement III is correct.
Sources of emergency funding should not include funding from the central bank - unless as part of a regular lending facility. Its role as a lender of last resort can not be considered in a CFP. Statement IV is incorrect.
Therefore only statements I and III are correct.

NEW QUESTION # 70
Which of the following is not a parameter to be determined by the risk manager that affects the level of economic credit capital:

A. Confidence level
B. Probability of default
C. Definition of credit losses
D. Risk horizon

Answer: B

Explanation:
Three parameters define economic credit capital: the risk horizon, ie the time horizon over which the risk is being assessed; the confidence level, ie the quintile of the loss distribution; and the definition of credit losses, ie whether mark-to-market losses are considered in addition to default-only losses. The probability of default is not a parameter within the control of the risk manager, but an input into the capital calculation process that he has to estimate. Therefore Choice 'c' is the correct answer.

NEW QUESTION # 71
Under the KMV Moody's approach to calculating expecting default frequencies (EDF), firms' default on obligations is likely when:

A. expected asset values one year hence are below total liabilities
B. asset values reach a level below total liabilities
C. asset values reach a level below short term debt
D. asset values reach a level between short term debt and total liabilities

Answer: D

Explanation:
An observed fact that the KMV approach relies upon is that firms do not default when their liabilities exceed assets, but when asset values are somewhere between short term liabilities and the total liabilities. In fact, the
'default point' in the KMV methodology is defined as the short term debt plus half of the long term debt. The difference between expected value of the assets in one year and this 'default point', when expressed in terms of standard deviation of the asset values, is called the 'distance-to-default'.
Therefore Choice 'd' is the correct answer. The other choices are incorrect.

NEW QUESTION # 72
When modeling severity of operational risk losses using extreme value theory (EVT), practitioners often use which of the following distributions to model loss severity:
I. The 'Peaks-over-threshold' (POT) model
II. Generalized Pareto distributions
III. Lognormal mixtures
IV. Generalized hyperbolic distributions

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

Answer: D

Explanation:
The peaks-over-threshold model is used when losses over a given threshold are recorded, as is often the case when using data based on external public sources where only large loss events tend to find a place. The generalized Pareto distribution is also used when attempting to model loss severity using EVT. Lognormal mixtures and generalized hyperbolic distributions are not used as extreme value distributions.
Choice 'd' is the correct answer.

NEW QUESTION # 73
What is the risk horizon period used for credit risk as generally used for economic capital calculations and as required by regulation?

A. 1-day
B. 10 years
C. 1 year
D. 10 days

Answer: C

Explanation:
The credit risk horizon for credit VaR is generally one year. Therefore Choice 'b' is the correct answer.

NEW QUESTION # 74
......

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