Most Recent PRMIA 8002 Exam Questions & Answers

Prepare for the PRMIA Mathematical Foundations of Risk Measurement :II exam with our extensive collection of questions and answers. These practice Q&A are updated according to the latest syllabus, providing you with the tools needed to review and test your knowledge.

QA4Exam focus on the latest syllabus and exam objectives, our practice Q&A are designed to help you identify key topics and solidify your understanding. By focusing on the core curriculum, These Questions & Answers helps you cover all the essential topics, ensuring you're well-prepared for every section of the exam. Each question comes with a detailed explanation, offering valuable insights and helping you to learn from your mistakes. Whether you're looking to assess your progress or dive deeper into complex topics, our updated Q&A will provide the support you need to confidently approach the PRMIA 8002 exam and achieve success.

The questions for 8002 were last updated on Nov 21, 2024.

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Question No. 1

For a quadratic equation, which of the following is FALSE?

AIf the discriminant is negative, there are no real solutions

BIf the discriminant is zero, there is only one solution

CIf the discriminant is negative there are two different real solutions

DIf the discriminant is positive there are two different real solutions

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Correct Answer: C

Question No. 2

Simple linear regression involves one dependent variable, one independent variable and one error variable. In contrast, multiple linear regression uses...

AOne dependent variable, many independent variables, one error variable

BMany dependent variables, one independent variable, one error variable

COne dependent variable, one independent variable, many error variables

DMany dependent variables, many independent variables, many error variables

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Correct Answer: A

Question No. 3

Assume that 40% of all financial organizations investigated by authorities turn out to be fraudulent.

What is the probability of randomly investigating 2 different organizations and finding that neither is fraudulent; and what is the probability of finding exactly one being fraudulent?

A2/5 and 1/2

B2/5 and 3/5

C1/3 and 8/17

D9/25 and 12/25

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Correct Answer: D

Question No. 4

Let N(.) denote the cumulative distribution function and suppose that X and Y are standard normally distributed and uncorrelated. Using the fact that N(1.96)=0.975, the probability that X 0 and Y 1.96 is approximately

A0.25%

B0.488%

C0.49%

D0.495%

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Correct Answer: B

Question No. 5

You want to test the hypothesis that a population parameter of a regression model is zero. Your alternative hypothesis is that 0. Denote by SD() the estimated standard deviation of , and by MEAN() the estimated mean of . Which test statistic is appropriate, and what is its distribution?

Atest statistic = SD()/MEAN(), normal distribution

Btest statistic = MEAN()/SD(), normal distribution

Ctest statistic = SD()/MEAN(), t distribution

Dtest statistic = MEAN()/SD(), t distribution

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Correct Answer: D

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