Question 1

With a PRMIA member's need to reconcile their internal and external responsibility to perform their work in an independent and appropriate fiduciary manner, which of the following options must be taken into consideration when performing risk management duties?

AInternal controls of the organization, and the local regulator

BInternal controls, and the expectations of stakeholders, shareholders, and the general public

CThe local regulator, internal controls, and shareholders

DOnly the internal controls and compliance standards

Answer : B

Question 2

The Chair, Vice Chair, Secretary and Treasurer of the PRMIA Board of Directors are elected by:

AAll PRMIA Fellow Members

BThe Regional Directors

CThe Blue Ribbon Advisory Panel

DA two-thirds affirmative vote of all members

Answer : B

Question 3

As a PRMIA member, you have certain responsibilities. Among these are the requirement(s) to:

AVote in Board elections

BAttend at least one PRMIA chapter meeting per year

CAdhere to the PRMIA Standards of Best Practice, Conduct and Ethics

DAll of the above

Answer : C

Question 4

Corporate Governance ...

AEliminates risk to the greatest extent possible

BIs defined as the assembled knowledge and wisdom of the collective stakeholders in the organization, set to maximize shareholder value

CIs defined as business decision making predicated on a belief in potential rewards, balanced with the knowledge, understanding and appreciation of the risk taken to pursue those potential rewards

DIs defined as that which is best practiced within an enterprise risk management framework, guided by the PRMIA Standards of Best Practice, Conduct and Ethics above all else

Answer : C

Question 5

The key people involved in the application of good governance and risk management must:

I be trustworthy

II be honest

III be approved by the local regulator

IV treat others fairly at all times

AI, II, and III only

BIII only

CI, II, and IV only

DI, II, III and IV above

Answer : C

Free 8004 Questions for PRMIA 8004 Exam as PDF & Practice Test Software

Question 1

Question 2

Question 3

Question 4

Question 5