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8002 Exam Dumps - PRM Certification - Exam II: Mathematical Foundations of Risk Measurement

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Exam Code: 8002

Exam Name: PRM Certification - Exam II: Mathematical Foundations of Risk Measurement

Certification Provider: PRMIA

Certification Exam Name: PRM Certification

PRMIA
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8002: PRM Certification - Exam II: Mathematical Foundations of Risk Measurement Study Material and Test Engine

Last Update Check: Feb 23, 2024

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PRMIA 8002 Exam FAQs

Introduction of PRMIA 8002 Exam!

PRMIA 8002 is a certification exam for the Professional Risk Manager (PRM) designation. It is a comprehensive exam that tests a candidate's knowledge of risk management principles, practices, and techniques. The exam covers topics such as risk management frameworks, risk management processes, risk management tools, and risk management strategies.

What is the Duration of PRMIA 8002 Exam?

The duration of the PRMIA 8002 exam is 3 hours.

What are the Number of Questions Asked in PRMIA 8002 Exam?

There are a total of 100 questions on the PRMIA 8002 exam.

What is the Passing Score for PRMIA 8002 Exam?

The passing score required for the PRMIA 8002 exam is 70%.

What is the Competency Level required for PRMIA 8002 Exam?

The PRMIA 8002 exam is a professional-level exam, so it requires a high level of competency. Candidates should have a thorough understanding of the concepts and principles of risk management, as well as a strong knowledge of the tools and techniques used to manage risk. Candidates should also have a good understanding of the regulatory environment and the implications of risk management decisions.

What is the Question Format of PRMIA 8002 Exam?

The PRMIA 8002 Exam consists of 100 multiple-choice questions. All questions are multiple-choice and are based on the PRMIA syllabus.

How Can You Take PRMIA 8002 Exam?

PRMIA 8002 exams are offered in both an online and a testing center format. The online exam format can be accessed through the PRMIA website and requires a valid PRMIA account to register and take the exam. The testing center format requires you to register and schedule with a testing center in your local area. You will need to bring two forms of identification and you may be required to pay a proctor fee. Both the online and testing center formats require you to have a basic understanding of the PRMIA 8002 exam topics before taking the exam.

What Language PRMIA 8002 Exam is Offered?

The PRMIA 8002 Exam is offered in English.

What is the Cost of PRMIA 8002 Exam?

The cost of the PRMIA 8002 exam is $225 USD.

What is the Target Audience of PRMIA 8002 Exam?

The target audience for the PRMIA 8002 Exam is people who have completed the PRMIA 8004 Exam, have at least 3 years of professional risk management experience, and have a strong foundation of risk management principles and practices. This exam is intended for professionals looking to demonstrate their knowledge and understanding of risk management principles and practices.

What is the Average Salary of PRMIA 8002 Certified in the Market?

The exact salary you can expect to receive with a PRMIA 8002 certification will vary depending on your job title, location, and experience. On average, a PRMIA 8002 certified professional can expect to earn an annual salary of around $90,000 to $125,000.

Who are the Testing Providers of PRMIA 8002 Exam?

Several organizations offer testing for the PRMIA 8002 exam, including Prometric, Pearson VUE, and Kryterion.

What is the Recommended Experience for PRMIA 8002 Exam?

The recommended experience for PRMIA 8002 Exam is two years of professional risk management experience. The exam focuses on risk management in banking, capital markets, and investments. It covers topics such as financial instruments and markets, portfolio risk, credit risk, market risk, and operational risk. The exam also tests knowledge of risk management principles, tools, and techniques.

What are the Prerequisites of PRMIA 8002 Exam?

There is no specific prerequisite for taking the PRMIA 8002 exam. However, it is recommended that candidates have at least three years of experience in risk management or related fields and have already taken the PRMIA 8003 exam. Additionally, a good understanding of the PRMIA body of knowledge is recommended.

What is the Expected Retirement Date of PRMIA 8002 Exam?

The expected retirement date of PRMIA 8002 exam is not available online. You can contact PRMIA directly for more information. Their contact information can be found on their website: https://www.prmia.org/contact-us/

What is the Difficulty Level of PRMIA 8002 Exam?

The difficulty level of the PRMIA 8002 exam varies depending on the individual. However, the exam is generally considered to be of moderate difficulty.

What is the Roadmap / Track of PRMIA 8002 Exam?

The PRMIA 8002 Exam is a certification track and roadmap developed by the Professional Risk Managers’ International Association (PRMIA) to assess and certify individuals who demonstrate a comprehensive knowledge of risk management principles and practices. The exam is divided into four sections: Foundations of Risk Management, Quantitative Analysis, Financial Markets and Products, and Professional Practices. Upon successful completion of the exam, individuals are awarded the PRMIA 8002 certification.

What are the Topics PRMIA 8002 Exam Covers?

The PRMIA 8002 exam covers a variety of topics related to risk management. These topics include:

1. Risk Management Principles: This section covers the foundational concepts of risk management, including the definition of risk, risk management processes, and the risk management framework.

2. Risk Measurement and Modeling: This section covers the concepts of risk measurement and modeling, including probability distributions, Monte Carlo simulations, and VaR models.

3. Risk Management Strategies: This section covers the strategies used to manage risk, such as hedging and diversification.

4. Risk Management Applications: This section covers the application of risk management principles in various markets, such as commodities, foreign exchange, and derivatives.

5. Regulatory and Compliance Issues: This section covers the regulatory and compliance requirements for risk management, including Basel III, Dodd-Frank, and Sarbanes-Oxley.

What are the Sample Questions of PRMIA 8002 Exam?

1. What are the key components of a risk management framework?
2. How can risk management be used to inform strategic decisions?
3. What are the different types of risk management models?
4. How can organizations use stress testing to identify and manage risk?
5. What are the legal and regulatory requirements for risk management?
6. How can organizations use scenario analysis to assess risk?
7. What are the principles of enterprise risk management?
8. How can organizations use capital allocation to manage risk?
9. What are the key considerations for credit risk management?
10. How can organizations use operational risk management to reduce losses?

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