Question 1
The PRMIA Operational Risk Manager (ORM) Designation differs from the ORM Certificate primarily because it requires:
Correct Answer:
The ORM Certificate exam PLUS a Case Study Practicum (Part 2) and an experience requirement
Question 2
Under the Basel framework, operational risk is defined as the risk of loss resulting from:
Correct Answer:
Inadequate or failed internal processes, people and systems or from external events
Question 3
How many Level 1 operational risk event-type categories does Basel define?
Correct Answer:
7
Question 4
An external attacker breaches the bank's e-banking platform and steals customer funds via a credential-stuffing attack. Under Basel's Level 1 event-type taxonomy this loss is BEST classified as:
Correct Answer:
External Fraud
Question 5
A trader deliberately falsifies position records to hide losses. This loss is classified under Basel's L1 taxonomy as:
Correct Answer:
Internal Fraud
Question 1
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About this Exam

Prepare with the ORM Designation Practice Questions - PRMIA Operational Risk Manager Designation Exam practice quiz. This question bank includes 100 questions covering risk, basel, operational, loss, and typically. Use it to review important concepts, identify knowledge gaps, and build confidence for the related exam, course, or assessment.

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ORM Designation Practice Questions - PRMIA Operational Risk Manager Designation Exam

This practice set contains 100 questions from the matching question bank and focuses on risk, basel, operational, loss, and typically. Work through each question carefully, review the provided solutions, and revisit topics that need more study before your next attempt.

This is an independent study resource intended for practice and review; it is not an official examination or an endorsement by any organization named in the title.

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