Prepare with PRMIA 8008 exam practice material, pass for sure
Updated: Sep 01, 2026
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PRMIA 8008 Exam Overview:
| Certification Vendor: | PRMIA (Professional Risk Managers' International Association) |
|---|---|
| Exam Name: | PRM Certification - Exam III: Risk Management Frameworks, Operational Risk, Credit Risk, Counterparty Risk, Market Risk, ALM, FTP - 2015 Edition |
| Exam Number: | 8008 |
| Real Exam Qty: | 80 |
| Related Certifications: | PRM Certification Exams I, II, IV ORM Certificate Credit & Counterparty Risk Manager Certificate |
| Passing Score: | 60% |
| Exam Duration: | 120 minutes |
| Exam Price: | $225 USD (Members), $350 USD (Non-Members) |
| Certificate Validity Period: | 2 years (exam credit); Certification valid with annual membership & continuing education |
| Exam Format: | Computer-based, Multiple-choice questions |
| Available Languages: | English |
| Recommended Training: | PRMIA Self-Study Courses PRMIA Official Study Guide & Handbook |
| Exam Registration: | PRMIA Official Exam Registration Pearson VUE Scheduling |
| Sample Questions: | PRMIA 8008 Sample Questions |
| Exam Way: | Computer-based testing at Pearson VUE/Prometric centers or online proctored |
| Pre Condition: | PRMIA membership required; no mandatory exam prerequisites; recommended: relevant finance/risk knowledge or professional experience |
| Official Syllabus URL: | https://www.prmia.org/exam-8008 |
PRMIA 8008 Exam Syllabus Topics:
| Section | Weight | Objectives |
|---|---|---|
| Topic 1: Operational Risk | 20% | - Control & Mitigation Techniques - Capital Requirements & Advanced Measurement Approaches - Risk Identification & Assessment - Definition & Scope |
| Topic 2: Risk Management Frameworks | 20% | - Risk Measurement Methodologies - Risk Governance & Culture - Enterprise Risk Management Principles - Regulatory Frameworks & Basel Accords |
| Topic 3: ALM & FTP | 10% | - Funds Transfer Pricing Methodology & Application - Interest Rate Risk in the Banking Book - Liquidity Risk Management - Asset-Liability Management Principles |
| Topic 4: Credit Risk | 20% | - Credit Risk Modeling & Capital Calculation - Loss Given Default & Credit Valuation Adjustment - Exposure & Probability of Default - Credit Risk Concepts |
| Topic 5: Market Risk | 15% | - Interest Rate, Equity, FX & Commodity Risk - Value-at-Risk (VaR) & Stress Testing - Market Risk Factors & Drivers - Regulatory Capital for Market Risk |
| Topic 6: Counterparty Risk | 15% | - Credit Value Adjustment (CVA) & Wrong-way Risk - Potential Future Exposure - Counterparty Credit Risk Fundamentals - Netting, Collateral & Margining |
PRMIA PRM Certification - Exam III: Risk Management Frameworks, Operational Risk, Credit Risk, Counterparty Risk, Market Risk, ALM, FTP - 2015 Edition Sample Questions:
Question 1
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. Determining the covariance matrix becomes an extremely difficult task as the number of risk factors increases.
B. 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.
C. The univariate Gaussian model fails to fit to the empirical distributions of risk factors, notably their fat tails and skewness.
D. It cannot capture linear relationships between risk factors.
Question 2
Which of the following statements are true:
I. Capital adequacy implies the ability of a firm to remain a going concern II. Regulatory capital and economic capital are identical as they target the same objectives III. The role of economic capital is to provide a buffer against expected losses IV. Conservative estimates of economic capital are based upon a confidence level of 100%
A. I and III
B. III
C. I, III and IV
D. I
Question 3
All else remaining the same, an increase in the joint probability of default between two obligors causes the default correlation between the two to:
A. Increase
B. Stay the same
C. Cannot be determined from the given information
D. Decrease
Question 4
Which of the below are a way to classify risk governance structures:
A. Committee based, regulation based and board mandated
B. Top-down and Bottom-up
C. Active and Passive
D. Reactive, Preventative and Active
Question 5
A derivative contract has a negative current replacement value. Which of the following statements is true about its loan equivalent value for credit risk calculations over a 2-year horizon?
A. The credit exposure will be a given quintile of the expected distribution of the value of the derivatives contract in the future.
B. Since the derivatives contract has a negative current replacement value, exposure will be zero.
C. The current exposure can be used for loan equivalence calculations as that is an unbiased proxy for the future value.
D. The notional value of the derivatives contract should be used for loan equivalence calculations.
Solutions:
| Question 1 Answer: D | Question 2 Answer: D | Question 3 Answer: A | Question 4 Answer: D | Question 5 Answer: A |
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