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Instant Download PRMIA : 8009 Questions & Answers as PDF & Test Engine
- Exam Code: 8009
- Exam Name: Exam IV: Case Studies: Standards: Governance, Best Practices and Ethics - 2015 Edition
- Updated: Jun 01, 2026
- No. of Questions: 112 Questions and Answers
- Download Limit: Unlimited
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PRMIA Exam IV: Case Studies: Standards: Governance, Best Practices and Ethics - 2015 Edition Sample Questions:
1. As a PRMIA member, you have certain responsibilities. Among these are the requirement(s) to:
A) Vote in Board elections
B) All of the above
C) Attend at least one PRMIA chapter meeting per year
D) Adhere to the PRMIA Standards of Best Practice, Conduct and Ethics
2. The retrocession insurance cover was provided by
A) Fortress Re and other insurers
B) Fortress Re and their reinsurers
C) The Fortress Re reinsurers only
D) The fronting insurance companies
3. Corporate Governance ...
A) Eliminates risk to the greatest extent possible
B) Is defined as the assembled knowledge and wisdom of the collective stakeholders in the organization, set to maximize shareholder value
C) Is 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
D) Is 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
4. An Organization as a Whole must:
I. Provide an environment in which an Escalation Policy can be effective II. Commit itself to actual enforcement of corporate governance policies III. Provide ongoing education and training to all employees on the role of risk management and corporate governance in the organization IV. Publish an external auditor's opinion that the corporation is in compliance with the Board's publicly stated Standards of Corporate Governance
A) All of these are expectations of the Organization as a Whole
B) I, III and IV only
C) I, II and III only
D) I, II and IV only
5. 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?
A) Accept the assignment, and prior to doing any work, report the conflict of interest to the organization's compliance department
B) Perform the assignment, noting in the final report the standards to which the assignment was done
C) Accept the assignment, produce and deliver two reports according to both standards
D) The PRMIA member should place the integrity of the risk management profession and users of risk management above their own personal interests, and refuse the work
Solutions:
| Question # 1 Answer: D | Question # 2 Answer: C | Question # 3 Answer: D | Question # 4 Answer: A | Question # 5 Answer: D |
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