PRMIA 8004 Exam Topics

PRMIA 8004 Exam Overview :

Exam Name:	Case Studies; Standards: Governance, Best Practices and Ethics
Exam Code:	8004
Certifications:	PRMIA PRM Certification
See Expected Questions:	PRMIA 8004 Expected Questions in Actual Exam

PRMIA 8004 Exam Objectives :

Section	Objectives
Barings	The candidate should be able to: Describe how the massive losses were incurred Describe why the true position was not noticed earlier Describe the role of the External Auditors Describe the supervision done by the Bank of England Describe the role of The Securities And Futures Authority (SFA, now knownas the Financial Services Authority, the FSA) Describe the Lessons learnt from the Barings Case Study Discuss the events leading up to the losses, the risks incurred and the mitigation processes described
National Australia Bank â€“ FX Options	The candidate should be able to: Describe the sequence of events and trading activities that led to the losses Describe the analysis of the losses and how they occurred, with an initial focus on foreign currency option transactions entered into on or after 1 October 2003 Describe the key policies, procedures, systems and control failures within the foreign currency options trading business responsible for the losses. Describe the Impacts on customers and third parties Discuss the events leading up to the losses, the risks incurred and the mitigation processes described
Bankgesellschaft Berlin	The candidate should be able to: Describe the Timeline of Events Describe how property-based funds carried unforeseen and uncovered risks Describe the lessons learnt Discuss the events leading up to the losses, the risks incurred and the mitigation processes described
Taisei Fire and Marine Insurance Co.	The candidate should be able to: Describe how events of the 9/11 World Trade terrorist attack brought about massive reinsurance losses - US2.5 billion – when they thought they were fully covered Differentiate between ‘full’ and ‘finite’ reinsurance cover Discuss potential mitigation measures which would have avoided or lessened the losses Discuss the need for stress and scenario testing for the low-frequency-high-impact incidence
Washington Mutual	The candidate should be able to: Describe how the bank’s acquisition of Long Beach Financial in 1999, and Providian in 2005 – both forays into sub-prime lending - brought about the eventual shrinkage of the credit quality of the bank’s loan book Describe the effect and dependency of FHLB funding when only 60% of the bank’s assets were funded by depositors Characterize the deteriorating effect on earnings that substantially increased provisions and net charge-offs would have Identify the events of 2007/8 which contributed significantly to the seizure of the bank by federal authoritie
Fannie Mae and Freddie Mac	The candidate should be able to: Describe how the intervention of politicians, and the creativity of banks in selling to sub-prime lenders, overwhelmed the capabilities of both organizations, and derailed what was essentially a viable and valuable business model Describe how the computer models were ineffective in stress testing the multiplicity of variable repayment and interest plans initially sold to sub-prime lenders Characterize the fundamentals of disintermediation within the asset backed securities value-chain Show how intricately linked the originate-and-distribute model is to investor confidence, both locally and globally
LTCM	The candidate should be able to: Describe the events that led to the collapse of LTCM Describe the lessons learnt Describe how UBS made a loss due to LTCM Discuss the events leading up to the losses, the risks incurred and the mitigation processes described

Updates in the PRMIA 8004 Exam Topics:

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