Free PRMIA 8020 Exam Dumps Questions & Answers

What are the roles of business versus risk management in developing and implementing risk assessments?

• A.Business owns the risk assessment process so risk management does not play a role in the process.
• B.Business management's role in the risk assessment process should be confined to oversight.
• C.Risk management, in its role as second line of defense, performs the risk assessment process from beginning to end. There is no business line involvement.
• D.The business owns the risk assessment process, while risk management develops the framework, helps facilitate the process, and provides supervision and oversight.

Which of the below is accurate about a risk assessment workshop?

• A.Although workshops will take on their own form; it is best to prepare thoroughly ahead of time.
• B.The workshop should be run spontaneously so that proper discussion can take place.
• C.Compliance experts should not attend the workshop so that proper discussion can take place.
• D.Risk management should not attend the workshop so that proper discussion can take place.

When a single operational risk event leads to losses in multiple business lines or impacts across several event types, how should these linked losses be treated?

• A.Allocate entire loss to the business line for which the loss is greatest.
• B.Each business line should take it's own discretion as to how the losses are treated.
• C.Pro-rate the loss across the affected business line.
• D.Either allocate entire loss to the business line for which the loss is greatest or pro-rate the loss across the affected business line.

Which of the follow is not included in PRMIA's 10 principles of good governance?

• A.Clear accountability.
• B.Holding the PRM Designation.
• C.Risk appetite.
• D.External validation.

Which of the following principles is critical when creating the optimum policy range and content'?

• A.Policy owners must ensure that policies are read by the regulator and then the shareholders.
• B.Hard copies of a new policy should be placed in a central library of governance documents at the CRO's home.
• C.Policies should be divided into a large number of short topics to enhance accessibility.
• D.New policies should be accompanied by Citable training for the target audience and added to the content of new employee training.