PRMIA ORM Practice Questions - PRMIA Operational Risk Manager Certificate Exam - PRMIA ORM Practice Questions - PRMIA Operational Risk Manager Certificate Exam

Question 1

Under the Basel framework, which of the following is the standard definition of operational risk?

The risk of loss arising from adverse market price movements The risk of loss resulting from inadequate or failed internal processes, people and systems or from external events The risk that a counterparty will fail to meet its contractual obligations The risk that the bank cannot meet its short-term funding obligations

Correct Answer:

The risk of loss resulting from inadequate or failed internal processes, people and systems or from external events

Question 2

How many Level 1 (Basel) operational risk event-type categories are there?

5 6 7 8

Correct Answer:

Question 3

An employee colludes with a customer to misappropriate funds and falsify records. Under Basel's Level 1 event-type taxonomy, this is BEST classified as:

External Fraud Internal Fraud Clients, Products and Business Practices Execution, Delivery and Process Management

Correct Answer:

Internal Fraud

Question 4

A class-action lawsuit is filed alleging that the bank systematically mis-sold a structured product without adequately disclosing the risks. Under Basel's event-type taxonomy this loss is classified as:

Internal Fraud Clients, Products and Business Practices Execution, Delivery and Process Management Business Disruption and System Failures

Correct Answer:

Clients, Products and Business Practices

Question 5

A flood damages the bank's primary data centre, destroying servers. Under Basel's event-type taxonomy this is:

Business Disruption and System Failures Damage to Physical Assets Execution, Delivery and Process Management External Fraud

Correct Answer:

Damage to Physical Assets

Question 1

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About this Exam

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

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PRMIA ORM Practice Questions - PRMIA Operational Risk Manager Certificate Exam

This practice set contains 100 questions from the matching question bank and focuses on risk, basel, operational, loss, and data. 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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PRMIA ORM Practice Questions - PRMIA Operational Risk Manager Certificate Exam

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