PRMIA Exam IV: Case Studies: Standards: Governance, Best Practices and Ethics - 2015 Edition : 8009

  • Exam Code: 8009
  • Exam Name: Exam IV: Case Studies: Standards: Governance, Best Practices and Ethics - 2015 Edition
  • Updated: Jul 25, 2026
  • Q & A: 112 Questions and Answers

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PRMIA 8009 Exam Syllabus Topics:

SectionObjectives
Standards and Professional Practices- Documentation and Reporting Standards
  • 1. Regulatory Submission Requirements
  • 2. Risk Reporting Templates
- Benchmarking and Industry Guidelines
  • 1. Industry Surveys and Metrics
  • 2. Best Practice Comparisons
Risk Management Best Practices- Operational Risk Management
  • 1. Risk Mitigation Strategies
  • 2. Scenario Analysis
  • 3. Risk Identification and Assessment
- Enterprise Risk Management
  • 1. Risk Appetite and Tolerance
  • 2. Integration Across Departments
  • 3. ERM Frameworks
- Credit and Market Risk
  • 1. Liquidity Risk Considerations
  • 2. Credit Risk Standards
  • 3. Market Risk Best Practices
Ethics and Professional Conduct- Ethical Principles
  • 1. Transparency and Disclosure
  • 2. Conflict of Interest
  • 3. Code of Conduct
- Case Studies on Ethical Scenarios
  • 1. Lessons Learned
  • 2. Decision-Making Frameworks
  • 3. Practical Applications
Governance and Regulatory Standards- Corporate Governance
  • 1. Internal Controls and Audit Functions
  • 2. Risk Committee Structures
  • 3. Board Oversight Responsibilities
- Regulatory Frameworks
  • 1. Compliance Reporting
  • 2. Basel Accords and Global Standards
  • 3. Local Regulatory Requirements

PRMIA Exam IV: Case Studies: Standards: Governance, Best Practices and Ethics - 2015 Edition Sample Questions:

1. TMFI's internal procedures and management were

A) None of the above
B) absolutely unaware of their uninsured liabilities
C) aware that they had some uninsured liabilities but thought they had enough capital to withstand any uninsured losses
D) fully aware of the uninsured risks Fortress Re were taking


2. The Chair, Vice Chair, Secretary and Treasurer of the PRMIA Board of Directors are elected by:

A) All PRMIA Fellow Members
B) The Regional Directors
C) A two-thirds affirmative vote of all members
D) The Blue Ribbon Advisory Panel


3. The failure of Washington Mutual was NOT due to which one of the following?

A) It failed due to the poor quality of its assets
B) Low lending standards and bad quality acquisitions
C) Using a combination of subprime mortgage loans and credit cards
D) A run on its deposits by bank customers


4. The problems which initiated the crisis at Northern Rock during the summer of 2007 were:

A) Doubts arising about the viability of the business model which necessitated Bank of England intervention
B) A general lack of confidence in mortgage backed securities associated in large part with developments in the US sub-prime mortgage market, and doubts emerging about the viability of the Northern Rock business model
C) Large customer withdrawals despite the UK regulator and the UK Treasury giving assurances that the bank was solvent
D) A depositor run on the bank, following doubts about the viability of the Northern Rock business model


5. Every PRMIA chapter is designed to serve the local needs of members, so they often have fairly independent planning structures and ideas. According to the PRMIA Bylaws, Regional Chapters and Regional Directors:

A) All of the above
B) Can have meetings that only local members are allowed to attend
C) Can have their own offices, bylaws and regulations provided they do not conflict with those of PRMIA
D) Can sign contracts on behalf of PRMIA without prior approval from the Board of Directors


Solutions:

Question # 1
Answer: B
Question # 2
Answer: B
Question # 3
Answer: D
Question # 4
Answer: B
Question # 5
Answer: C

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