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PRMIA 8004 Dumps

Exam Code:
8004
Exam Name:
PRM Certification - Exam IV: Case Studies; Standards: Governance, Best Practices and Ethics
Last Update: Apr 23, 2024
110 Questions
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PRM Certification - Exam IV: Case Studies; Standards: Governance, Best Practices and Ethics Questions and Answers

Questions 1

The Chair of the PRMIA Board of Directors may hold the following offices:

Options:

A.

Parliamentarian

B.

Secretary

C.

Vice Chair

D.

Chair only

Questions 2

When describing the reasons for the collapse of China Aviation Oil, which of the following was not cited?

Options:

A.

No properly defined risk management policies in place and general lack of oversight by senior management

B.

Time value was not taken into account during the contract valuation process

C.

Loss generating positions were rolled over by selling options on larger positions to generate cash premiums' to settle existing position losses

D.

Senior management in China were aware of the positions but did not understand the complexities of risk managing them

Questions 3

The Fortress Re finite reinsurance model

Options:

A.

allowed Fortress to claim re-insurance claims payments from the finite reinsurers and paid premiums to cover these deals over a 5 year period, and as the risks were spread out over time the annual premiums were accounted for as current liabilities on the books of the pool members, giving a true impression of profitability

B.

allowed Fortress to claim re-insurance claims payments from the finite reinsurers and paid annual premiums to cover these policies, and as the risks were spread out over the year the annual premiums were accounted for as current liabilities on the books of the pool members, giving a true impression of profitability

C.

allowed Fortress to claim re-insurance claims payments from the finite reinsurers and paid premiums to cover these deals over a 5 year period, and as the risks were spread out over time the future premiums were accounted for as current liabilities on the books of the pool members, giving a true impression of profitability

D.

allowed Fortress to claim re-insurance claims payments from the finite reinsurers and paid premiums to cover these deals over a 5 year period, but as the risks were spread out over time the future premiums were not accounted for as current liabilities on the books of the pool members, thus giving a false impression of profitability