Exam Name: ORM Certificate - 2023 Update
Certification Provider: PRMIA
Corresponding Certification: PRM Certification
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- Total Questions: 62
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PRMIA 8020 Exam Overview:
| Certification Vendor: | PRMIA |
|---|---|
| Exam Name: | Operational Risk Manager (ORM) Certificate - 2023 Update |
| Exam Number: | 8020 |
| Exam Format: | Multiple Choice |
| Real Exam Qty: | 80 |
| Related Certifications: | FRM Certificate PRM Certificate |
| Passing Score: | 70 |
| Exam Price: | USD 350 |
| Exam Duration: | 120 minutes |
| Available Languages: | English |
| Certificate Validity Period: | 2 years (requires continuing professional development to maintain) |
| Sample Questions: | DOWNLOAD DEMO |
| Exam Way: | Computer-based testing (CBT), proctored, available at Pearson VUE test centers globally |
| Pre Condition: | No formal prerequisites; recommended: basic understanding of risk management concepts and financial services industry experience |
| Official Syllabus URL: | https://www.prmia.org/certification/orm-certificate/ |
PRMIA 8020 Exam Syllabus Topics:
| Section | Weight | Objectives |
|---|---|---|
| Risk Mitigation and Control | 15-20% | - Business continuity management - Three lines model in practice - Risk transfer mechanisms (insurance, outsourcing) - Incident management and response - Control design and effectiveness |
| Operational Risk Framework and Governance | 20-25% | - Three lines of defense model - ORM definitions and concepts - Risk culture and appetite - ORM governance structures - Regulatory and industry standards |
| Risk Identification and Assessment | 25-30% | - Risk mapping and heat maps - Risk inventory and register management - Risk assessment methodologies - Risk taxonomy and classification - Key Risk Indicators (KRIs) - Risk scenario analysis |
| Risk Measurement and Quantification | 15-20% | - Loss data collection and analysis - Quantifying operational risk losses - Risk-adjusted performance measurement - OpRisk capital models (BIA, LDA, SMA) - VaR and expected loss approaches |
| Monitoring, Reporting and Emerging Risks | 10-15% | - Technology and cyber risk considerations - Regulatory change management - ORM reporting to stakeholders - Continuous monitoring frameworks - Emerging operational risks - Stress testing and reverse stress testing |
PRMIA 8020 Certification Exam FAQ
The 8020 exam, ORM Certificate - 2023 Update, assesses whether a candidate can apply PRMIA knowledge to the skills measured by this credential. It is associated with the PRM Certification certification. The certification is positioned at the Professional level. Related credentials include PRM Certificate, FRM Certificate.
The 8020 exam includes 80 questions and allows 120 minutes. Plan your pacing before exam day rather than calculating it under pressure. Timed sessions with Actual4dump practice tests can help you decide when to flag a difficult item, keep moving, and reserve enough time for a final review.
The published passing score for PRMIA ORM Certificate - 2023 Update is 70, and the official exam fee is USD 350. A retake requires budgeting for the full official fee again, so it is sensible to complete several timed practice tests before scheduling. Consistent results across the 62 practice questions can give you a clearer picture of your readiness.
The stated prerequisite information for PRMIA ORM Certificate - 2023 Update is: No formal prerequisites; recommended: basic understanding of risk management concepts and financial services industry experience Before registering, review the eligibility details on the official exam page to confirm the requirements.
Yes. Actual4dump provides a free PDF demo so you can review the format and quality of the PRMIA ORM Certificate - 2023 Update practice questions before placing an order. Your purchase includes 365 days of free updates, and you can extend the update service after expiration at a 50% discount.
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The published PRMIA ORM Certificate - 2023 Update outline contains 5 major domains. The opening domains include:
- Operational Risk Framework and Governance (20-25%)
- Monitoring, Reporting and Emerging Risks (10-15%)
- Risk Mitigation and Control (15-20%)
Review the complete Exam Topics section above for every domain and subtopic before planning your study time.
PRMIA ORM Certificate - 2023 Update Sample Questions:
Question 1
Which of the follow is not included in PRMIA's 10 principles of good governance?
A. External validation.
B. Clear accountability.
C. Holding the PRM Designation.
D. Risk appetite.
Question 2
For the National Australia Bank - FX Options case study, large and unusual transaction activity was a concern for what reason?
A. Deep-in-the-money options aided in the smoothing of losses.
B. Deep-in-the-money options and other complex structured transactions aided in the smoothing of losses.
C. Deep-in-the-money options and other complex structured transactions aided in the smoothing of profits and losses.
D. Complex structured transactions aided in the smoothing of losses.
Question 3
The The Task Force on Climate-related Financial Disclosures (TCFD) was founded by which body?
A. The European Commission (EC).
B. The Financial Stability Board (FSB).
C. The United Nations (UN).
D. The World Bank (WB).
Question 4
How can a chief risk officer encourage the governing body and executive management team to create a stronger risk culture?
A. Having a vision of achievable but not excessive ambition.
B. Establish a set of objectives that the board and executive team must adhere to.
C. Discourage personal accountability to avoid a blame culture.
D. Balance rewarding success in profitability goals with punishment when there is a failure to achieve goals.
Question 5
Which of the Basel Accords, published in 2004, introduced operational risk as a risk subjected to a capital charge?
A. Basel II
B. Basel I
C. Basel IV
D. Basel III
Solutions:
| Question 1 Answer: C | Question 2 Answer: C | Question 3 Answer: B | Question 4 Answer: A | Question 5 Answer: A |
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