Most Recent PRMIA 8004 Exam Questions & Answers

Prepare for the PRMIA Case Studies; Standards: Governance, Best Practices and Ethics 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 8004 exam and achieve success.

The questions for 8004 were last updated on Jan 17, 2025.

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Question No. 1

When supervising others, a PRMIA member must comply with

APRMIA Standards

Bthe standards of the organization where the work is being performed

Chis / her established personal standards of work approved in previous work situations

Dlocal regulatory authority standards which may be less onerous than PRMIA standards

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Correct Answer: A

Question No. 2

The steps which the US Treasury Department and the Federal Reserve took in July 2008 to boost confidence in both Fannie Mae and Freddie Mac did not include which one of the following:

AAccess to the Federal Reserve discount window

BRemoving the prohibition on the Treasury Department to buy both companies stock

CRestricting the sale of new Fannie Mae and Freddie Mac securities only to US citizens

DReiterating their belief that both companies played a central role in the US housing finance system

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Correct Answer: D

Question No. 3

The problems at Bankers Trust can best be characterized as failures related to:

AMarket Risk

BCredit Risk

COperational and Regulatory Compliance Risk

DAll of the Above

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Correct Answer: C

Question No. 4

The Fortress Re finite reinsurance model

Aallowed Fortress to claim re-insurance claims payments from the finite reinsurers and paid premiums to cover these deals over a 5 year period, and as the risks were spread out over time the annual premiums were accounted for as current liabilities on the books of the pool members, giving a true impression of profitability

Ballowed Fortress to claim re-insurance claims payments from the finite reinsurers and paid annual premiums to cover these policies, and as the risks were spread out over the year the annual premiums were accounted for as current liabilities on the books of the pool members, giving a true impression of profitability

Callowed Fortress to claim re-insurance claims payments from the finite reinsurers and paid premiums to cover these deals over a 5 year period, and as the risks were spread out over time the future premiums were accounted for as current liabilities on the books of the pool members, giving a true impression of profitability

Dallowed Fortress to claim re-insurance claims payments from the finite reinsurers and paid premiums to cover these deals over a 5 year period, but as the risks were spread out over time the future premiums were not accounted for as current liabilities on the books of the pool members, thus giving a false impression of profitability

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Correct Answer: D

Question No. 5

According to the Group of 30 Report, option contracts:

AAlways generate credit risk to both counterparties

BCreate credit risk only for the buyer (due to default by the seller) provided the premium is due, and paid, at contract initiation

CCreate no credit risk, since the buyer need not exercise the option

DUsually create credit risk only for the seller (to default by the buyer)

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Correct Answer: B

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