A trader inadvertently booked a trade with incorrect information. A subsequent market move resulted in a gain
to the bank. Should the bank include this amount of gain into its operational loss event data program?
I. The bank should include this gain in its operational loss event data program as a gain realized due to
operational risk events.
II. The bank should include this gain in its operational loss event data program as it indicates that a control
failed or a process is flawed.
III. The bank should include this event in its operational loss event data program and record the gain as a loss
resulting from operational risk.The bank should not include this event in its operational loss event data
program as it is not a loss event, but a market risk event.

A bank owns a portfolio of bonds whose composition is shown below.

What is the modified duration of the portfolio?

Which one of the following four statements regarding commodity exchanges is INCORRECT?

Which one of the following four statements correctly describes an American call option?

Which one of the following four statements regarding the current value of a transaction and its purposes is
INCORRECT?