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Free Case Studies; Standards: Governance, Best Practices and Ethics Questions for PRMIA Case Studies; Standards: Governance, Best Practices and Ethics Exam as PDF & Practice Test Software

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Total 110 questions

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?

Answer : B

Question 2

A PRMIA member is offered a highly paid work assignment on the condition that some aspects of assignment are not to be done according to PRMIA standards.

What should they do?

Answer : D

Question 3

While doing a work assignment, a PRMIA member notices behaviour that is outside the ethical standards of their client organization and reports the matter to their immediate supervisor in the organization (if he or she wasn't the one engaging in such behaviour). The matter is neither progressed nor actioned.

The PRMIA member should:

Answer : C

Question 4

A risk assessment report generated by a PRMIA member creates an apparent conflict of interest between the PRMIA standards and those of the client organization.

Of the following, which is the correct hierarchy to follow to resolve the conflict?

I The decision of a superior within the organization

II PRMIA Standards

III Guidelines from the regulators in which the organization operates

IV The laws of the country

Answer : B

Question 5

Boards, including Audit and Risk Committees must:

I Clearly articulate the corporate risk appetite to senior management

II Thoroughly review compensation plans of potentially "highly compensated positions" for consistency with corporate risk appetite, competitive market conditions and fiduciary responsibility to shareholders

III Have a single member formally given responsibility for understanding and reporting the effectiveness of the corporation's risk management infrastructure

IV. Be fully accountable to shareholders and work to the benefit of public good and financial stability

Answer : D

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Total 110 questions