Newest PRMIA 8020 Practice Questions at Zero Cost

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Question 1

Which of the following principles best applies to a compliance function?

AThe compliance function should report to the business (even when following a three lines of defense model).

BThe compliance function should be independent of the business (following a three lines of defense model).

CThe compliance function should be outsourced if there is a risk function.

DThe risk function should be outsourced if there is a compliance function.

Correct Answer: 1

Question 2

The The Task Force on Climate-related Financial Disclosures (TCFD) was founded by which body?

AThe World Bank (WB).

BThe United Nations (UN).

CThe Financial Stability Board (FSB).

DThe European Commission (EC).

Correct Answer: 2

Question 3

Which of the following best describes the role of the compliance department?

AThe compliance department is responsible for implementing the first line's compliance risk management controls.

BThe compliance department is responsible for providing oversight over the auditor's implementation of compliance risk management controls.

CThe compliance department is responsible for providing oversight over the board's implementation of compliance risk management controls.

DThe compliance department is responsible for providing oversight over the first line's implementation of compliance risk management controls.

Correct Answer: 3

Question 4

Internal loss data (ILD) consists of what kind of data?

AIt consists of near miss operational loss incidents of a bank.

BIt consists of historical operational loss incidents of a bank.

CIt consists of the Key Risk Indicators of a bank.

DIt consists of scenario data develeloped to calcuate the future operational loss incidents of a bank.

Correct Answer: 4

Question 5

Which of the following principles is critical when creating the optimum policy range and content'?

APolicies should be divided into a large number of short topics to enhance accessibility.

BPolicy owners must ensure that policies are read by the regulator and then the shareholders.

CHard copies of a new policy should be placed in a central library of governance documents at the CRO's home.

DNew policies should be accompanied by Citable training for the target audience and added to the content of new employee training.

Correct Answer: 5

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