PRMIA 8010 : Operational Risk Manager (ORM) Exam

  • Exam Code: 8010
  • Exam Name: Operational Risk Manager (ORM) Exam
  • Updated: Sep 16, 2026   Q&As: 242 Questions and Answers

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PRMIA 8010 Exam Syllabus Topics:
SectionWeightObjectives
Operational Resilience5%- Third-party/vendor risk management
- Business continuity and recovery
- DORA and resilience regulations
Compliance & Regulatory Risk10%- Compliance risk types and controls
- Enterprise compliance frameworks
- Basel Accords and global regulations
Risk Assessment20%- Top-down scenario analysis
- Residual risk and issue management
- Risk and Control Self-Assessment (RCSA)
- Bottom-up process modeling
Introduction to Operational Risk Management10%- Embedding risk management practices
- Risk management frameworks and principles
- ESG and climate risk considerations
Risk Management Framework15%- Strategy and framework implementation
- Risk policies, limits, and pricing
- Risk capacity and risk appetite
Risk Information & Monitoring15%- Key Risk Indicators (KRIs)
- Loss data collection and analysis
- Risk reporting and communication
Risk Governance15%- Risk culture and ethical conduct
- Governance structures and responsibilities
- Roles of first, second, and third lines of defense
Operational Risk Capital & Modeling10%- Capital requirements and approaches
- Basel III and recent developments
- Basic and advanced measurement methods
PRMIA Operational Risk Manager (ORM) Sample Questions:
Question #1

When compared to a medium severity medium frequency risk, the operational risk capital requirement for a high severity very low frequency risk is likely to be:

  • A. Lower
  • B. Unaffected by differences in frequency or severity
  • C. Zero
  • D. Higher
Reveal Solution  Discussion  0

Correct Answer: C  🗳️

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Question #2

The probability of default of a security during the first year after issuance is 3%, that during the second and third years is 4%, and during the fourth year is 5%. What is the probability that it would not have defaulted at the end of four years from now?

  • A. 12.00%
  • B. 84.93%
  • C. 88.53%
  • D. 88.00%
Reveal Solution  Discussion  0

Correct Answer: B  🗳️

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Question #3

For a bank using the advanced measurement approach to measuring operational risk, which of the following brings the greatest 'model risk' to its estimates:

  • A. Choice of an incorrect distribution for loss event frequencies
  • B. Insufficient number of simulations when building the loss distribution
  • C. Aggregation risk, from selecting an incorrect value of estimated correlations between different operational risk estimates
  • D. Choice of incorrect parameters for loss severity distributions
Reveal Solution  Discussion  0

Correct Answer: C  🗳️

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Question #4

For a FX forward contract, what would be the worst time for a counterparty to default (in terms of the maximum likely credit exposure)

  • A. At maturity
  • B. Indeterminate from the given information
  • C. Right after inception
  • D. Roughlythree-quarters of the way towards maturity
Reveal Solution  Discussion  0

Correct Answer: A  🗳️

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Question #5

Under the contingent claims approach to credit risk, risk increases when:
I. Volatility of the firm's assets increases
II. Risk free rate increases
III. Maturity of the debt increases

  • A. I and III
  • B. II and III
  • C. I, II and III
  • D. I and II
Reveal Solution  Discussion  0

Correct Answer: A  🗳️

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