PRMIA 8010 : Operational Risk Manager (ORM) Exam

  • Exam Code: 8010
  • Exam Name: Operational Risk Manager (ORM) Exam
  • Updated: Sep 09, 2026
  • Q & A: 242 Questions and Answers

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PRMIA 8010 Exam Syllabus Topics:

SectionWeightObjectives
Topic 1: Risk Information10%- Loss Data, KRIs and Reporting
Topic 2: Introduction2%- Overview of Operational Risk Management
Topic 3: Risk Assessment10%- Risk Identification and Assessment Techniques
Topic 4: Operational Risk Capital6%- Capital Concepts & Basel III Context
Topic 5: Risk Governance6%- Governance Principles and Risk Roles
Topic 6: Case Studies6%- Applied Operational Risk Scenarios
Topic 7: Compliance Risk6%- Compliance Risk Framework
Topic 8: Operational Resilience4%- Resilience Concepts and Practices
Topic 9: Risk Management Framework10%- Risk Appetite, Policies, Culture

PRMIA Operational Risk Manager (ORM) Sample Questions:

Question #1

Which of the following measures can be used to reduce settlement risks:

  • A. escrow arrangements using a central clearing house
  • B. increasing the timing differences between the two legs of the transaction
  • C. all of the above
  • D. providing for physical delivery instead of netted cash settlements
Reveal Solution  Discussion  0

Correct Answer: D  🗳️

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Question #2

Which of the following is not a limitation of the univariate Gaussian model to capture the codependence structure between risk factros used for VaR calculations?

  • A. The univariate Gaussian model fails to fit to the empirical distributions of risk factors, notably their fat tails and skewness.
  • B. Determining the covariance matrix becomes an extremely difficult task as the number of risk factors increases.
  • C. A single covariance matrix is insufficient to describe the fine codependence structure among risk factors as non-linear dependencies or tail correlations are not captured.
  • D. It cannot capture linear relationships between risk factors.
Reveal Solution  Discussion  0

Correct Answer: D  🗳️

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Question #3

Which of the following is the most accurate description of EPE (Expected Positive Exposure):

  • A. The average of the distribution of positive exposures at a specified future date
  • B. Weighted average of thefuture positive expected exposure across a time horizon.
  • C. The price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date
  • D. The maximum average credit exposure over a period of time
Reveal Solution  Discussion  0

Correct Answer: B  🗳️

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Question #4

An assumption regarding the absence of ratings momentum is referred to as:

  • A. Time invariance
  • B. Herstatt risk
  • C. Ratings stability
  • D. Markov property
Reveal Solution  Discussion  0

Correct Answer: D  🗳️

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Question #5

A risk management function is best organized as:

  • A. reporting directly to the traders, as to be closest to the point at which risks are being taken
  • B. a part of the trading desks and other risk taking teams
  • C. integrated with the risk taking functions as risk management should be a pervasive activity carried out at all levels of theorganization.
  • D. report independently of the risk taking functions
Reveal Solution  Discussion  0

Correct Answer: D  🗳️

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