HIGH-QUALITY NEW 8011 TEST QUESTIONS FOR REAL EXAM

High-quality New 8011 Test Questions for Real Exam

High-quality New 8011 Test Questions for Real Exam

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Tags: New 8011 Test Questions, 8011 Study Group, Reliable 8011 Braindumps Book, Formal 8011 Test, 8011 Reliable Guide Files

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PRMIA 8011 (Credit and Counterparty Manager (CCRM) Certificate) Certification Exam is a globally recognized professional certification exam that is designed to test the knowledge of professionals working in the credit and counterparty risk management space. 8011 exam is administered by the Professional Risk Managers' International Association (PRMIA) and is designed to evaluate the candidate's ability to manage credit risk and counterparty risk in financial institutions.

PRMIA 8011 Exam is a rigorous test of a candidate’s knowledge and skills in credit and counterparty risk management. 8011 exam consists of multiple-choice questions and is designed to test a candidate’s understanding of the key concepts and principles covered in the CCRM certification program. Candidates are required to demonstrate their ability to apply these concepts and principles to real-world scenarios.

PRMIA Credit and Counterparty Manager (CCRM) Certificate Exam Sample Questions (Q58-Q63):

NEW QUESTION # 58
Which of the following is not an event of default covered in the ISDA Master Agreement?
I). failure to pay or deliver
II). credit support default
III). merger without assumption
IV). Bankruptcy

  • A. II and III
  • B. I
  • C. IV
  • D. All are considered events of default

Answer: B

Explanation:
Note that events of default under the ISDA MA are caused by one of the parties that is considered 'at fault'. In contrast, "termination events" are events for which no one is at fault, for example changes in legislation, illegality etc that still justify termination of the transactions under the contract.
The ISDA MA describes the following 8 types of events of default:
1. failure of pay or deliver
2. breach of agreement
credit support default
4. misrepresentation
5. default under specified transaction
6. cross default
7. bankruptcy
8. merger without assumption
All of the options presented in the question are events of default.


NEW QUESTION # 59
If the full notional value of a debt portfolio is $100m, its expected value in a year is $85m, and the worst value of the portfolio in one year's time at 99% confidence level is $60m, then what is the credit VaR?

  • A. $40m
  • B. $25m
  • C. $60m
  • D. $15m

Answer: B

Explanation:
Credit VaR is the difference between the expected value of the portfolio and the value of the portfolio at the given confidence level. Therefore the credit VaR is $85m - $ 60m = $25m. Choice 'b' is the correct answer.
Note that economic capital and credit VaR are identical at a risk horizon of one year. Therefore if the question asks for economic capital, the answer would be the same.
[Again, an alternative way to look at this is to consider the explanation given in III.B.6.2.2: Credit Var = Q(L)
- EL where Q(L) is the total loss at a given confidence interval, and EL is the expected loss. In this case Q(L)
- $100-$60 = $40, and EL = $100-$85=$15. Therefore Credit VaR = $40-$15=$25.]


NEW QUESTION # 60
Which of the following represent the parameters that define a VaR estimate?

  • A. confidence level and the underlying stochastic process
  • B. trading position and distribution assumption
  • C. confidence level and the holding period
  • D. confidence level, the holding period and expected volatility

Answer: C

Explanation:
VaR is specified by just two parameters - the holding period, and the confidence level. We speak of, for example, a 10-day VaR at the 95% confidence level. No other parameters are required.Therefore Choice 'd' is the correct answer and the others are incorrect.


NEW QUESTION # 61
Which of the following statements are true:
I. The three pillars under Basel II are market risk, credit risk and operational risk.
II. Basel II is an improvement over Basel I by increasing the risk sensitivity of the minimum capital requirements.
III. Basel II encourages disclosure of capital levels and risks

  • A. II and III
  • B. III only
  • C. I only
  • D. I and II

Answer: A

Explanation:
The three pillars under Basel II are minimum capital requirements, supervisory review process and market discipline. Therefore statement I is false. The other two statements are accurate. Therefore Choice 'd' is the correct answer.


NEW QUESTION # 62
If the marginal probabilities of default for a corporate bond for years 1, 2 and 3 are 2%, 3% and 4% respectively, what is the cumulative probability of default at the end of year 3?

  • A. 91.26%
  • B. 9.00%
  • C. 9.58%
  • D. 8.74%

Answer: D

Explanation:
Marginal probabilities of default are the probabilities for default for a given period, conditional on survival till the end of the previous period. Cumulative probabilities of default are probabilities of default by a point in time, regardless of when the default occurs. If the marginal probabilities of default for periods 1, 2... n are p1, p2...pn, then cumulative probability of default can be calculated as Cn = 1 - (1 - p1)(1-p2)...(1-pn). For this question, we can calculate the probability of default for year 3 as =1 - (1-2%)*(1-3%)*(1-4%) = 8.74%


NEW QUESTION # 63
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