8004 Exam Dumps : PRM Certification - Exam IV: Case Studies; Standards: Governance, Best Practices and Ethics

use their best judgment

abide by the applicable laws, rules, and regulations of PRMIA and any government and/or regulatory bodies

comply with the higher standard under all circumstances

refer the matter to their supervisor

Many of the banks in the rescue consortium were among LTCM's counterparties

Some of the banks in the rescue consortium were LTCM investors

Untimely unwinding of some LTCM positions would lead to large market fluctuations and possible turmoil

The consortium wanted to keep this out of the regulators' eyes

Define the organization's definition of risk management as articulated by the Board in clear and uncertain terms

Include financial risk management, compliance and external reporting and, to the extent that resources allow, should exclude legal or accounting

Be independently staffed and report to an employee who is on the Executive Committee (Operating Committee) but who is NOT a business unit leader

Review continually the application of the Principles of Good Governance to the Risk Management Infrastructure, financial accounting and reporting infrastructure and the organization as a whole