PRMIA PRM Certification - Exam IV: Case Studies; Standards: Governance, Best Practices and Ethics - 8004 Exam Practice Test

A. the oil market went from strong contango to weak contango

B. the oil market went from weak backwardation to strong backwardation

C. the oil market went from backwardation to contango

D. the oil market went from contango to backwardation

A. I, II, and IV only

B. I, II, and III only

C. I, II, III and IV above

D. III only

A. The Fortress Re reinsurers only

B. The fronting insurance companies

C. Fortress Re and their reinsurers

D. Fortress Re and other insurers

A. Operational and Regulatory Compliance Risk

B. All of the Above

C. Credit Risk

D. Market Risk

A. had a full understanding from Fortress Re of the risks in the pool

B. had a full understanding from other members of the pool of the pool's liabilities

C. relied almost entirely on Fortress Re's management team for information on the risks in its portfolio

D. relied on the information it received from other members of the reinsurance pool to manage its risks

A. Is defined as that which is best practiced within an enterprise risk management framework, guided by the PRMIA Standards of Best Practice, Conduct and Ethics above all else

B. Is defined as business decision making predicated on a belief in potential rewards, balanced with the knowledge, understanding and appreciation of the risk taken to pursue those potential rewards

C. Eliminates risk to the greatest extent possible

D. Is defined as the assembled knowledge and wisdom of the collective stakeholders in the organization, set to maximize shareholder value

A. I and II only

B. I, II and IV only

C. II, III and IV only

D. All of the above