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Question 8

Which of the following does NOT relate to the Orange County case?

Options:

A.

Where there are excess rewards, there must be risks

B.

The Know Your Customer rule

C.

Strategies that are not possible to explain to third parties should not be employed by the risk averse

D.

Fractured organisational structure and poor risk oversight mechanism make it easy for powerful individuals to hide risk in the gaps

Question 9

Which of the following regarding Orange County is FALSE?

Options:

A.

Bob Citron engaged in risky strategies to benefit personally

B.

Bob Citron tried to "ride the yield curve"

C.

Bob Citron heavily leveraged his positions using repos

D.

Citron's losses were eventually exposed by massive margin calls

Question 10

The problems which initiated the crisis at Northern Rock during the summer of 2007 were:

Options:

A.

Large customer withdrawals despite the UK regulator and the UK Treasury giving assurances that the bank was solvent

B.

Doubts arising about the viability of the business model which necessitated Bank of England intervention

C.

A general lack of confidence in mortgage backed securities associated in large part with developments in the US sub-prime mortgage market, and doubts emerging about the viability of the Northern Rock business model

D.

A depositor run on the bank, following doubts about the viability of the Northern Rock business model

Question 11

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

Options:

A.

Parliamentarian

B.

Secretary

C.

Vice Chair

D.

Chair only

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Exam Code: 8004
Exam Name: PRM Certification - Exam IV: Case Studies; Standards: Governance, Best Practices and Ethics
Last Update: Dec 22, 2024
Questions: 110
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