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8010 Exam Dumps : Operational Risk Manager (ORM) Exam

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Operational Risk Manager (ORM) Exam Questions and Answers

Question 1

Which of the following statements is true:

I. Expected credit losses are charged to the unit's P&L while unexpected losses hit risk capital reserves.

II. Credit portfolio loss distributions are symmetrical

III. For a bank holding $10m in face of a defaulted debt that it acquired for $2m, the bank's legal claim in the bankruptcy court will be $10m.

IV. Thelegal claim in bankruptcy court for an over the counter derivatives contract will be the notional value of the contract.

Options:

A.

I and III

B.

I, II and IV

C.

III and IV

D.

II and IV

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Question 2

Which of the following statements are true?

I. Retail Risk Based Pricing involves using borrower specific data to arrive at both credit adjudication and pricing decisions

II. An integrated 'Risk Information Management Environment' includes two elements - people and processes

III. A Logical Data Model (LDM) lays down the relationships between data elements that an organization stores

IV. Reference Data and Metadata refer to the same thing

Options:

A.

II and IV

B.

I and III

C.

I, II and III

D.

All of the above

Question 3

Which of the following is the most important problem to solve for fitting a severity distribution for operational risk capital:

Options:

A.

The risk functional's minimization should lead to a good estimate of the 0.999 quantile

B.

Determine plausible scenarios to fill the data gaps inthe internal and external loss data

C.

Empirical loss data needs to be extended to the ranges below the reporting threshold and above large value losses

D.

The fit obtained should reduce the combination of the fitting and approximation errors to a minimum