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永遠不要說你已經盡力了。這個對每個人的忠告，就算你認為自己沒有能力通過苛刻的PRMIA的8011考試認證。因為就算你沒有通過PRMIA的8011考試認證，你可以找一個快捷又方便省時又不費力的培訓工具，來幫助你通過PRMIA的8011考試認證，Testpdf PRMIA的8011考試培訓資料就是個很不錯的黃金培訓資料，它可以幫助你順利通過考試，保證100%通過，而且價格很合理，保證你利用了它會受益匪淺，所以說永遠不要說自己已經盡力了，不放棄下一秒就是希望，趕緊抓住你的希望吧，就在Testpdf PRMIA的8011考試培訓資料裏。
針對企業競爭形勢的新要求，像 PRMIA 的 8011 一些熱門的專業證照考試誕生了，其中包括ISC、Fortinet、Adobe、EMC、Veritas、GAQM和HP等。在國際上，許多企業已從1995年起安排員工參加了各專業的證照考試。他們的實踐證明，專業的8011 證照不僅提高了員工的技術水準，增強了企業的市場競爭能力，而且更重要的是，這些企業由於在更新員工技能方面所付出的努力以及所表現出的遠見卓識，使Testpdf 8011 證照已贏得了企業內外的一致好評。
通過PRMIA 8011 認證考試的方法有很多種，花大量時間和精力來復習PRMIA 8011 認證考試相關的專業知識是一種方法，通過少量時間和金錢選擇使用Testpdf的針對性訓練和練習題也是一種方法。
專業風險經理國際協會（PRMIA）是一個非營利組織，在風險管理方面提供全球認可的證書。 PRMIA 8011（信用和交易對手經理（CCRM）證書）認證考試旨在驗證信用和交易對手風險管理領域專業人士的知識和技能。該考試涵蓋了廣泛的主題，包括信用分析，降低信用風險，對手風險管理和法規合規性。
問題 #216
Under the credit migration approach to assessing portfolio credit risk, which of the following are needed to generate a distribution of future portfolio values?
答案：D
解題說明：
The credit migration approach to assessing portfolio credit risk involves obtaining a distribution of future portfolio values from the ratings migration matrix. First, the frequencies in the matrix are used as probabilities, and expected future values of the securities belonging to each rating category are calculated.
These are then discounted to the present using the discount rate appropriate to the 'future' rating category. This gives us a forward distribution of the value of each security in the portfolio. These are then combined using the default correlations between the issuers. The default correlation between the issuers is often proxied using asset returns, and recognizing that default occurs when asset values fall below a certain threshold. A distribution for the future value of the portfolio is generated using simulation, and from this distribution the Credit VaR can be calculated.
Thus, we need the migration matrix, the risk horizon from which the present values need to be calculated, and the forward yield curve or the discount curve for each rating category for the risk horizon. Thus, Choice 'd' is the correct answer.
問題 #217
Which of the following event types is hacking damage classified under Basel II operational risk classifications?
答案：D
解題說明：
Choice 'b' is the correct answer. All other answers are incorrect.
Refer to the detailed loss event type classification under Basel II (see Annex 9 of the accord). You should know the exact names of all loss event types, and examples of each.
問題 #218
A portfolio has two loans, A and B, each worth $1m. The probability of default of loan A is 10% and that of loan B is 15%. The probability of both loans defaulting together is 1%. Calculate the expected loss on the portfolio.
答案：D
解題說明：
The easiest way to answer this question is to ignore the joint probability of default as that is irrelevant to expected losses. The joint probability of default impacts the volatility of the losses, but not the expected amount. One way to think about it is to think of asset portfolios, where diversification reduces risk (ie standard deviation) but the expected returns are nothing but the average of the expected returns in the portfolio. Just as the expected returns of the portfolio are not affected by the volatility or correlations (these affect standard deviation), in the same way the joint probability of default does not affect the expected losses.
Therefore the expected losses for this portfolio are simply $1m x 10% + $1m x 15% = $250,000.
This can also be seen from the lens of a joint probability distribution as follows:
A white rectangular grid with black text Description automatically generated
There are four possibilities for this portfolio:
- Only loan A defaults: loss of $1m: 9% probability
- Only loan B defaults: loss of $1m: 14% probability
- Both loan A and B default: loss of $2m: 1% probability
- Neither A nor B default: loss of $0m: 76% probability
Therefore the expected losses on the portfolio are ($1m x 9%) + ($1m x 14%) + ($2m x 1%) + ($0m x 76%) =
$250,000.
(Notes: How is the above table calculated? The totals (10%, 90%, 15% and 85%) are filled in first. The top left cell (both A & B default) is given as 1%. We can now calculate the rest of the cells as the totals are known.)
問題 #219
In January, a bank buys a basket of mortgages with a view to securitize them by April. Due to an unexpected lack of investors in the securitization market, it is unable to do so and is left with the exposure to the mortgages on its books. This is an example of:
答案：A
解題說明：
This is an example of pipeline and warehousing risk. Generally there is a lag between acquiring assets and securitizing them due to the legal work to be done, the work to be done by the ratings agencies and in finding investors. During this period, the bank is exposed to the underlying assets purchased, and this is the 'pipeline and warehousing' risk as these assets are in the pipeline and warehoused for intended subsequent sale.
Generally this period tends to be short. However, during the credit crisis this became a significant source of risk as many banks were left exposed to risk they had intended to get rid of, but could not do so as the market dried up. The other choices are all incorrect.
Note that pipeline and warehousing risk is also known as 'securitzation risk'. It means that funding from securitization cannot be relied upon as a matter of fact.
問題 #220
Which of the following statements is true?
I. Real Time Gross Systems (RTGS) for large value payments consume less system liquidity than Deferred Net Systems (DNS) II. The US Fedwire is an example of a Real Time Gross System III. Current disclosure requirements in relation to liquidity risk as laid down in the Basel framework require banks to disclose how liquidity stress scenarios were formulated IV. A CFP (Contingency Funding Plan) provides access to Central Bank financing
答案：D
解題說明：
The correct answer is choice 'd'
For settlement of interbank payments, there are broadly two kinds of systems: RTGS (Real TimeGross Systems) and Deferred Net Systems (DNS). RTGS process payments in real time, settlement by settlement, and each transaction is settled by the a clearing institution (mostly the central bank) on a gross basis without regard for other settlements affecting the counterparty. DNS systems, on the other hand, allow for debiting or crediting the accounts of counterparties at periodic intervals after netting all payments paid or received since the last settlement. The exact timing of the payments does not matter so long as a bank has sufficient funding on a net basis at settlement time. Implicit in the DNS system is the extension of credit and liquidity by the central bank to the participating banks as it is possible for a bank to issue payment instructions even without having funds so long as they can arrange for such funds prior to settlement at the end of the day. In RTGS, a bank needs to have funds to make a payment at any point, and cannot make a payment against moneys expected to be received later intra-day. RTGS systems therefore need more liquidity on the part of the participants, and consume far more liquidity than DNS arrangements. Of course, the 'liquidity' of the DNS arrangement has a cost - which is that someone is taking up settlement risk, and invariably it is the central bank. If a bank under DNS fails to settle, its transactions have to be 'unwound', ie all payments made by it have to be rolled back. This can cause other banks to trip, causing further unwinding transactions. RTGS systems do not carry this risk. Therefore statement I is not correct as RTGS consume more liquidity than DNS arrangements.
Statement II is correct. US Fedwire or European TARGET are RTGS while CHIPS is a DNS based payment system.
Statement III is not correct. Current Basel requirements do not require any disclosure in respect of liquidity risk management. A consultative paper was issued by BIS in Dec 2009 for comments from members, but it is far from final. The BIS is still reacting to the liquidity issues that arose during the 2007-09 credit crisis.
Statement IV is not correct as a CFP is like a disaster recovery plan for liquidity, ie it helps a bank plan for and think about what steps would be taken to deal with a liquidity disaster situation. It does not provide any access to central bank financing.
問題 #221
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彰顯一個人在某一領域是否成功往往體現在他所獲得的資格證書上，在IT行業也不外如是。所以現在很多人都選擇參加8011資格認證考試來證明自己的實力。但是要想通過8011資格認證卻不是一件簡單的事。不過只要你找對了捷徑，通過考試也就變得容易許多了。這就不得不推薦Testpdf的考試考古題了，它可以讓你少走許多彎路，節省時間幫助你考試合格。
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所以，我們在反复的練習Testpdf的8011問題集時，最好能夠再去多接觸一些比較全面的8011問題集，PRMIA 8011新版題庫上線 只要你用了它你就會發現，這一切都是真的，不管你參加IT認證的哪個考試，Testpdf 8011真題材料的參考資料都可以給你很大的幫助，快將我們的 8011 認證考試的最新練習題及答案加入你的購物車吧，所以你要是參加 PRMIA 8011 認證考試並且選擇我們的考古題，我們不僅可以保證為你提供一份覆蓋面很廣和品質很好的 PRMIA 8011 考試資料，來讓您做好準備來面對這個非常專業的 8011 考試，而且還幫你順利通過 PRMIA 8011 認證考試，拿到 PRMIA Certification 證書，也許你在其他相關網站上也看到了與 PRMIA 8011 認證考試相關的相關培訓工具，但是我們的 Testpdf在IT 認證考試領域有著舉足輕重的地位。
五品法寶都扛不住”十六皇子震驚，這就不能簡單否定了，所以，我們在反复的練習Testpdf的8011問題集時，最好能夠再去多接觸一些比較全面的8011問題集，只要你用了它你就會發現，這一切都是真的，不管你參加IT認證的哪個考試，Testpdf的參考資料都可以給你很大的幫助。
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