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Latest 8011 Dumps Book - Real 8011 Question
The 8011 PDF works on smart phones, tablets, and laptops. Windows computers support the 8011 desktop practice test software. No software installation is necessary for the web-based PRMIA Exam practice exam. All operating systems (Mac, Linus, Android, iOS, Windows) and major browsers support the 8011 web-based practice exam.
PRMIA 8011 Exam is a comprehensive test that covers a range of topics related to credit and counterparty risk management. 8011 exam assesses the candidates' knowledge and understanding of credit analysis, exposure measurement, credit risk mitigation, counterparty risk management, and regulatory compliance. 8011 exam consists of multiple-choice questions and is conducted online. The candidates who pass the exam are awarded the PRMIA CCRM certificate, which is a globally recognized credential that signifies their expertise in credit and counterparty risk management. Credit and Counterparty Manager (CCRM) Certificate Exam certification is valid for three years, after which the candidates are required to complete continuing education courses to maintain their certification.
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PRMIA 8011: Credit and Counterparty Manager (CCRM) Certificate exam is an excellent certification program for professionals who are interested in credit and counterparty risk management. It provides a comprehensive understanding of the principles and practices of credit risk management, as well as the various tools and techniques used to manage counterparty risk. Credit and Counterparty Manager (CCRM) Certificate Exam certification is recognized globally and is highly regarded in the financial services industry, making it an essential certification for professionals involved in credit and counterparty risk management.
PRMIA 8011 Certification is designed to provide professionals with a comprehensive understanding of credit risk management. Credit and Counterparty Manager (CCRM) Certificate Exam certification is recognized globally and is highly regarded in the finance industry. 8011 course is delivered through a combination of online learning and classroom-based instruction, and participants are required to pass an exam to achieve certification. 8011 course is an excellent way for professionals to enhance their skills and knowledge and to demonstrate their expertise in credit risk management.
PRMIA Credit and Counterparty Manager (CCRM) Certificate Exam Sample Questions (Q147-Q152):
NEW QUESTION # 147
For an investor with a long position in market index futures, which of the following is a primary risk:
- A. Basis risk between futures and spot prices
- B. Increase or decrease in the level of the underlying index
- C. Movement in interest rates underlying the futures prices
- D. Risk that expected dividends will differ from realized dividend yields
Answer: B
Explanation:
This question emphasizes the difference between primary and secondary risks. Primary risks are the risks consciously undertaken, ie the risks whose premium the investor is trying to earn. Secondary risks are risks that accompany the primary risks that the investor will either hedge, or will ignore if they are small. It is important to watch out for secondary risks because they could become significant and offset the returns being sought even if the investor's market view is proved correct.
An investor in market index futures is betting that the index will rise. Index futures prices are largely driven by the spot value of the index, but are also affected by costs of carry. In particular, futures prices will be driven by interest rates, expected dividends, and any other factors that may cause the basis between spot and futures prices to diverge. These risks are secondary risks.
In this question, Choice 'd' represents the primary risk, and Choice 'a', Choice 'b' and Choice 'c' are all secondary risks. Therefore Choice 'd' is the correct answer.
NEW QUESTION # 148
Under the credit migration approach to assessing portfolio credit risk, which of the following are needed to generate a distribution of future portfolio values?
- A. A rating migration matrix
- B. All of the above
- C. The forward yield curve
- D. A specified risk horizon
Answer: B
Explanation:
The credit migration approach to assessing portfolio credit risk involves obtaining a distribution of future portfolio values from the ratings migration matrix. First, the frequencies in the matrix are used as probabilities, and expected future values of the securities belonging to each rating category are calculated.
These are then discounted to the present using the discount rate appropriate to the 'future' rating category. This gives us a forward distribution of the value of each security in the portfolio. These are then combined using the default correlations between the issuers. The default correlation between the issuers is often proxied using asset returns, and recognizing that default occurs when asset values fall below a certain threshold. A distribution for the future value of the portfolio is generated using simulation, and from this distribution the Credit VaR can be calculated.
Thus, we need the migration matrix, the risk horizon from which the present values need to be calculated, and the forward yield curve or the discount curve for each rating category for the risk horizon. Thus, Choice 'd' is the correct answer.
NEW QUESTION # 149
If the annual default hazard rate for a borrower is 10%, what is the probability that there is no default at the end of 5 years?
- A. 50.00%
- B. 60.65%
- C. 59.05%
- D. 39.35%
Answer: B
Explanation:
A default hazard rate is the rate of default in a continuous time setting. This question is asking for probability of survival at the end of 5 years. The formula to calculate the probability of survival at the end of t years where the default hazard rate is#is e