Tom Scott Tom Scott's Profile Page

Tom Scott Tom Scott

0 Course Enrolled • 0 Course Completed

Biography

8020 actual study guide & 8020 training torrent prep

Most returned customers said that our 8020 dumps pdf covers the big part of main content of the certification exam. Questions and answers from our 8020 free download files are tested by our certified professionals and the accuracy of our questions are 100% guaranteed. Please check the free demo of 8020 Braindumps before purchased and we will send you the download link of 8020 real dumps after payment.

Learning knowledge is not only to increase the knowledge reserve, but also to understand how to apply it, and to carry out the theories and principles that have been learned into the specific answer environment. Studying for attending ORM Certificate - 2023 Update exam pays attention to the method. The good method often can bring the result with half the effort, therefore we in the examination time, and also should know some test-taking skill. The 8020 Quiz guide on the basis of summarizing the past years, found that many of the questions, the answers have certain rules can be found, either subjective or objective questions, we can find in the corresponding module of similar things in common.

>> Pass 8020 Rate <<

8020 Prep Training - 8020 Study Guide & 8020 Test Pdf

The main reason why people look for PRMIA 8020 practice test is that these help them to prepare for the exam. Even if you study well but with no idea of the ORM Certificate - 2023 Update 8020 exam pattern, it will be tough to crack the nut. You shall waste your time thinking about the pattern and how to attempt the ORM Certificate - 2023 Update 8020 Exam Questions. On the other hand, if you know the ORM Certificate - 2023 Update 8020 exam questions well, you can use that time to solve the queries and improve your chances to score well in the exam.

PRMIA ORM Certificate - 2023 Update Sample Questions (Q42-Q47):

NEW QUESTION # 42
Which of the following best describes the role of the compliance department?

A. The compliance department is responsible for implementing the first line's compliance risk management controls.
B. The compliance department is responsible for providing oversight over the auditor's implementation of compliance risk management controls.
C. The compliance department is responsible for providing oversight over the board's implementation of compliance risk management controls.
D. The compliance department is responsible for providing oversight over the first line's implementation of compliance risk management controls.

Answer: D

Explanation:
Three Lines of Defense Model
The compliance department functions as the second line of defense, ensuring oversight over the first line's compliance controls.
It does not directly implement controls but monitors and advises on compliance risk management.
Responsibilities of the Compliance Department
Ensures regulatory compliance with laws, policies, and industry standards.
Monitors and enforces risk management controls within business operations.
Provides advisory and training on compliance risks.
Why Answer D is Correct
The first line of defense (business operations) is responsible for executing compliance controls.
The compliance department (second line) provides oversight and governance to ensure compliance adherence.
Why Other Answers Are Incorrect
Option
Explanation:
A . The compliance department is responsible for implementing the first line's compliance risk management controls.
Incorrect - The first line (business units) implement compliance controls, while compliance oversees.
B . The compliance department is responsible for providing oversight over the auditor's implementation of compliance risk management controls.
Incorrect - Internal audit is part of the third line of defense, not directly overseen by compliance.
C . The compliance department is responsible for providing oversight over the board's implementation of compliance risk management controls.
Incorrect - The board provides high-level governance; compliance ensures business adherence to regulations.
PRMIA Reference for Verification
PRMIA Governance & Compliance Oversight Framework
Basel Committee's Guidelines on Compliance Risk Management

NEW QUESTION # 43
Which of the following statements best defines the properties of top-down key risk indicators?

A. Selected by senior management, used to manage changes in the business environment especially under periods of stress, and reported on a daily basis.
B. Selected by senior management, tied to material external and internal loss exposures and scenarios, and used to manage changes in the business environment, especially under periods of stress.
C. Can only be selected by the board in line with risk ratings.
D. Selected by junior management, used to manage changes in the business environment especially under periods of stress, and reported on an annual basis

Answer: B

Explanation:
Definition of Key Risk Indicators (KRIs)
KRIs are quantitative metrics used to monitor risk levels and detect early warning signs of potential risk events.
Top-down KRIs are identified at the senior management level and focus on enterprise-wide risk exposure.
Key Properties of Top-Down KRIs
Selected by senior management to ensure alignment with strategic objectives.
Tied to material external and internal loss exposures to capture critical financial, operational, and strategic risks.
Used to manage changes in the business environment to ensure proactive risk response, especially under stress conditions.
Why Other Answers Are Incorrect
Option
Explanation:
B . Selected by senior management, used to manage changes in the business environment, especially under periods of stress, and reported on a daily basis.
Incorrect - Top-down KRIs are not reported daily; they are monitored periodically (e.g., quarterly).
C . Selected by junior management, used to manage changes in the business environment, especially under periods of stress, and reported on an annual basis.
Incorrect - Junior management does not define top-down KRIs; senior management does. Also, annual reporting is too infrequent.
D . Can only be selected by the board in line with risk ratings.
Incorrect - The board provides oversight, but senior risk management selects KRIs, not just the board.
PRMIA Reference for Verification
PRMIA Risk Indicator Guidelines
Basel Committee on Banking Supervision (BCBS) Principles for Effective Risk Data Aggregation

NEW QUESTION # 44
Ideally, which of the following should be completed as part of the risk assessments of service providers?

A. An assessment of a third party should include its compliance and risk infrastructure, financials, business strategy and operating history.
B. A review of the pay levels of the staff supporting the service.
C. An assessment of a third party should not include its compliance and risk infrastructure, financials, business strategy and operating history.
D. Onsite visits are not advantageous for understanding the third party's risks and control environment.

Answer: A

Explanation:
Third-Party Risk Management (TPRM)
PRMIA highlights the importance of conducting thorough due diligence on third-party vendors and service providers.
This includes evaluating compliance programs, risk management frameworks, financial stability, strategic objectives, and operational history.
Key Areas of Third-Party Risk Assessment
Compliance and Risk Infrastructure → Ensures that the provider meets regulatory and security requirements.
Financial Health → Determines whether the provider has the financial stability to support long-term service delivery.
Business Strategy → Helps assess alignment with the organization's risk appetite and goals.
Operating History → Evaluates experience and reliability in delivering services.
Why Other Answers Are Incorrect
Option
Explanation:
B . An assessment of a third party should not include its compliance and risk infrastructure, financials, business strategy, and operating history.
Incorrect - Ignoring these critical factors increases the risk of working with an unreliable vendor.
C . Onsite visits are not advantageous for understanding the third party's risks and control environment.
Incorrect - Onsite visits are highly valuable as they provide first-hand insights into operational controls. PRMIA encourages risk managers to conduct site visits.
D . A review of the pay levels of the staff supporting the service.
Incorrect - Employee salaries are not a primary risk factor in vendor assessments. The focus should be on the vendor's security, compliance, and operational risks.
PRMIA Reference for Verification
PRMIA Third-Party Risk Management (TPRM) Guidelines - Details best practices for vendor risk assessments.
Basel Principles on Outsourcing and Third-Party Risk - Provides regulatory guidance on evaluating third-party service providers.

NEW QUESTION # 45
In the Basel III standardized approach for operational risk, what is the Business Indicator?

A. It is a financial-statement-based proxy for operational risk.
B. It is a scaling factor that is based on a bank's average historical losses.
C. It is a non-financial-statement-based proxy for operational risk.
D. It is a proxy for operational risks that relate to near-miss events.

Answer: A

Explanation:
Step 1: Definition of the Business Indicator (BI) in Basel III
The Business Indicator (BI) is a financial-statement-based metric used in Basel III's Standardized Approach for Operational Risk.
It replaces previous approaches by using financial figures (e.g., revenue, fees, interest income) to estimate operational risk exposure.
Step 2: Why Option D Is Correct
The BI uses financial-statement data to calculate operational risk capital requirements.
It acts as a proxy for a bank's operational risk exposure by linking operational risk to its financial size and complexity.
Step 3: Why the Other Options Are Incorrect
Option A ("Proxy for near-miss events") → Incorrect because BI is based on financial data, not near-miss risk events.
Option B ("Non-financial-statement-based proxy") → Incorrect because BI is explicitly derived from financial statements.
Option C ("Scaling factor based on historical losses") → Incorrect because BI does not use historical losses directly-it relies on financial-statement inputs.
PRMIA Risk Reference Used:
Basel III Operational Risk Framework - Defines the Business Indicator as a financial-statement-based metric.
PRMIA Operational Risk Guidelines - Explains the BI's role in capital calculations.

NEW QUESTION # 46
In relation to financial crime. OFAC is a definition for which organization?

A. Office of Financial Asset Control.
B. Office of Foreigner and other Control.
C. Office of Foreign Asset Control.
D. Office for Asset Control.

Answer: C

Explanation:
Step 1: Understanding OFAC
OFAC (Office of Foreign Assets Control) is a U.S. Treasury Department agency responsible for enforcing economic and trade sanctions based on U.S. foreign policy and national security goals.
It prevents financial crime by restricting transactions with sanctioned individuals, entities, and countries.
Step 2: Role of OFAC in Financial Crime Prevention
OFAC administers sanctions to prevent money laundering, terrorism financing, and other illicit activities.
Financial institutions must comply with OFAC regulations to avoid heavy fines and reputational damage.
PRMIA's Financial Crime Risk Guidelines emphasize the importance of OFAC compliance in risk management.
Step 3: Why the Other Options Are Incorrect
Option A ("Office of Financial Asset Control") - Incorrect wording; OFAC deals with foreign assets, not just financial assets.
Option B ("Office of Foreigner and Other Control") - OFAC does not regulate foreigners broadly; it targets specific foreign assets and transactions.
Option C ("Office for Asset Control") - Missing "Foreign", which is critical to OFAC's function.
PRMIA Risk Reference Used:
PRMIA Financial Crime Risk Management Guidelines - Emphasizes regulatory compliance with OFAC.
PRMIA Compliance and Sanctions Risk Standards - Stresses the role of OFAC in preventing illicit financial activities.
Final Conclusion:
OFAC stands for the Office of Foreign Assets Control, making Option D the correct answer.

NEW QUESTION # 47
......

First of all we have fast delivery after your payment in 5-10 minutes, and we will transfer 8020 guide torrent to you online, which mean that you are able to study as soon as possible to avoid a waste of time. Besides if you have any trouble coping with some technical and operational problems while using our 8020 exam torrent, please contact us immediately and our 24 hours online services will spare no effort to help you solve the problem in no time. As a result what we can do is to create the most comfortable and reliable customer services of our 8020 Guide Torrent to make sure you can be well-prepared for the coming exams.

Exam 8020 Topic: https://www.braindumpspass.com/PRMIA/8020-practice-exam-dumps.html

I believe that after you try 8020 certification training, you will love them, PRMIA Pass 8020 Rate You can pass the exam and obtain the certification successfully if you choose us, PRMIA Pass 8020 Rate As the PDF format is in common use, so it is also supported by many well-known operational softwares such as Google Docs and the Amazon Kindle, Free Download: BraindumpsPass Exam 8020 Topic Testing Engine Our Testing Engine is awesome.

Before you decide to buy, you can download the free demo of 8020 dumps pdf to learn about our products, You will discover you can achieve success your way, without compromising who you are or becoming someone you are not.

BraindumpsPass PRMIA 8020 Free Dumps Demo Download Facility

I believe that after you try 8020 Certification Training, you will love them, You can pass the exam and obtain the certification successfully if you choose us.

As the PDF format is in common use, so it is also supported by many well-known 8020 operational softwares such as Google Docs and the Amazon Kindle, Free Download: BraindumpsPass Testing Engine Our Testing Engine is awesome.

Our study materials have confidence to help you pass exam successfully 8020 Valid Test Vce and get related certification that you long for, and we can guarantee that if you don’t pass the exam, we will give you full refund.