PRMIA 8004 Case Studies; Standards: Governance, Best Practices and Ethics Exam Practice Test

Which of the following should NOT be part of the Risk Management Infrastructure?

According to PRMIA governance principles, boards and audit committees should ...

The Financial Accounting and Reporting Infrastructure of any organization must:

I Accurately represent the corporation's current and known financial condition in a timely manner

II Only use off-balance sheet transactions which have a legitimate economic, tax, risk transfer or risk mitigating purpose

III Provide a detailed description of the Risk Management Infrastructure in the organization's Annual Report to Shareholders

IV Provide an auditable Annual Statement of Compliance with the Board's publicly stated Standards of Corporate Governance to the Board and Audit Committee

Which of the following are PRMIA Governance Principles?

I Sufficiency of Key Resources and Process

II State of the Art Risk Management Technology

III Ongoing Education and Discernment

IV Sufficiency of Key Competencies

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

According to the G-30 Study, the risk management infrastructure's funding must be

According to the Group of 30 Report, option contracts: