Free Access PRMIA.8009.v2022-03-04.q40 Practice Test (Page 8)

Question 31

Which of the following CANNOT be counted as a reason why LTCM was given a rescue package and not left to default?

A.Many of the banks in the rescue consortium were among LTCM's counterparties

B.Untimely unwinding of some LTCM positions would lead to large market fluctuations and possible turmoil

C.The consortium wanted to keep this out of the regulators' eyes

D.Some of the banks in the rescue consortium were LTCM investors

Question 32

Boards of Directors, including Audit and Risk Committees must review thoroughly compensation plans of potentially "highly compensated positions" for:
I. competitive market conditions
II. ensuring compliance with their corporate risk appetite and fiduciary responsibility to shareholders III. ensuring any discretionary bonus plans are geared towards keeping high income / revenue generators IV. reporting all such personnel to the local regulator

A.II, III and IV only

B.I and II only

C.I, II and IV only

D.All of the above

Question 33

PRMIA is incorporated as:

A.A for-profit corporation

B.A non profit corporation with for profit subsidiaries

C.A charitable trust

D.A non-profit corporation

Question 34

Mary Jones wants the Bylaws of PRMIA to be changed so that people can't join PRMIA unless they meet a set of criteria she has devised with her colleagues. She can do this by getting which of the following approvals:

A.The Board of Directors and a majority of the Members

B.The Board of Directors alone

C.The Board of Directors, but only if the Blue Ribbon Panel affirms the change

D.34 of all Members

Question 35

When supervising others, a PRMIA member must comply with

A.local regulatory authority standards which may be less onerous than PRMIA standards

B.the standards of the organization where the work is being performed

C.his / her established personal standards of work approved in previous work situations

D.PRMIA Standards

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Question 31

Question 32

Question 33

Question 34

Question 35

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