PRMIA 8020 Actual Free Exam Questions & Community Discussion

Exam Code/Number: 8020
Exam Name/Title: ORM Certificate - 2023 Update
Certification Provider: PRMIA
Corresponding Certification: PRM Certification

Exam Questions: 62
Updated On: Jul 21, 2026

Question #8

Ideally, the facilitator of a risk assessment workshop should:

A. Attend via a video connection to allow proper distance.

B. Remain objective and refrain from expressing his or her own opinions.

C. Remind the attendees that they can override the results of the workshop once the risks are tallied.

D. Guide the workshop toward a pre-determined conclusion, based upon known industry identified risks.

Discussion 0

Correct Answer: B Vote an answer

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Question #9

Which of the following best describes the role of the compliance department?

A. The compliance department is responsible for providing oversight over the auditor's implementation of compliance risk management controls.

B. The compliance department is responsible for providing oversight over the board's implementation of compliance risk management controls.

C. The compliance department is responsible for implementing the first line's compliance risk management controls.

D. The compliance department is responsible for providing oversight over the first line's implementation of compliance risk management controls.

Discussion 0

Correct Answer: D Vote an answer

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Question #10

For credit risk losses containing operational risk elements that have been historically included in an organizations' credit risk database how should the loss amount be treated?

A. The entire loss amount is treated as credit risk

B. The loss amount is split into credit and operational risk components.

C. The entire loss amount is treated as credit risk, but the loss is entered as a memorandum within the operational loss database and not used for capital modeling purposes.

D. The entire loss amount is treated as operational risk.

Discussion 0

Correct Answer: B Vote an answer

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Question #11

Team supervisors are key in the development and maintenance of the risk culture because they are:

A. Visible to regulators and can describe the firm's risk culture to their board.

B. More experienced than the employees that report to them.

C. Connected with every employee, every day, and can ensure desired behaviors are followed by all.

D. Visible to regulators and can describe the firm's risk culture to inspection teams.

Discussion 0

Correct Answer: C Vote an answer

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Question #12

In operational resilience, what is impact tolerance?

A. Impact tolerance is a firm's tolerance for disruption to a particular business service.

B. Impact tolerance is a firm's risk appetite statement.

C. Impact tolerance is a firm's risk capacity statement.

D. Impact tolerance is a firm's tolerance for disruption to a particular business process.

Discussion 0

Correct Answer: A Vote an answer

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Question #13

The DORA act's full name is which of the following?

A. Digital Operational Risk Act.

B. Domain for Operational Risk Act.

C. Daily Operational Resilience Act.

D. Digital Operational Resilience Act.

Discussion 0

Correct Answer: D Vote an answer

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Question #14

What are the roles of business versus risk management in developing and implementing risk assessments?

A. Risk management, in its role as second line of defense, performs the risk assessment process from beginning to end. There is no business line involvement.

B. Business management's role in the risk assessment process should be confined to oversight.

C. Business owns the risk assessment process so risk management does not play a role in the process.

D. The business owns the risk assessment process, while risk management develops the framework, helps facilitate the process, and provides supervision and oversight.

Discussion 0

Correct Answer: D Vote an answer

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