PRMIA 8009 Valid Dump : Exam IV: Case Studies: Standards: Governance, Best Practices and Ethics - 2015 Edition

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Exam Code: 8009

Exam Name: Exam IV: Case Studies: Standards: Governance, Best Practices and Ethics - 2015 Edition

Updated: Sep 18, 2025

Q & A: 112 Questions and Answers

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PRMIA Exam IV: Case Studies: Standards: Governance, Best Practices and Ethics - 2015 Edition Sample Questions:

1. A risk assessment report generated by a PRMIA member creates an apparent conflict of interest between the PRMIA standards and those of the client organization.
Of the following, which is the correct hierarchy to follow to resolve the conflict?
I. The decision of a superior within the organization
II. PRMIA Standards
III. Guidelines from the regulators in which the organization operates
IV. The laws of the country

A) IV, III, II, and I
B) III, II, IV, and I
C) I, II, III, and IV
D) II, I, IV, and III


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:

A) Restricting the sale of new Fannie Mae and Freddie Mac securities only to US citizens
B) Removing the prohibition on the Treasury Department to buy both companies stock
C) Reiterating their belief that both companies played a central role in the US housing finance system
D) Access to the Federal Reserve discount window


3. PRMIA Governance Principles

A) must be adhered to by all PRM charter holders
B) is a set of recommendations based on research and best practice
C) must be adhered to by all PRMIA member organizations
D) must be adhered to by all financial firms that are PRMIA members


4. Corporate Governance ...

A) Eliminates risk to the greatest extent possible
B) Is defined as the assembled knowledge and wisdom of the collective stakeholders in the organization, set to maximize shareholder value
C) Is defined as business decision making predicated on a belief in potential rewards, balanced with the knowledge, understanding and appreciation of the risk taken to pursue those potential rewards
D) Is defined as that which is best practiced within an enterprise risk management framework, guided by the PRMIA Standards of Best Practice, Conduct and Ethics above all else


5. According to the G-30 Study, the risk management infrastructure's funding must be

A) determined by the regulators
B) determined at the Board level with inputs from business unit leaders
C) determined at the Board level without influence by business unit leaders
D) determined by business-unit leaders


Solutions:

Question # 1
Answer: A
Question # 2
Answer: C
Question # 3
Answer: B
Question # 4
Answer: C
Question # 5
Answer: C

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