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PRMIA 8020 Exam Overview:
| Certification Vendor: | PRMIA |
|---|---|
| Exam Name: | Operational Risk Manager (ORM) Certificate - 2023 Update |
| Exam Number: | 8020 |
| Exam Format: | Multiple Choice |
| Certificate Validity Period: | 2 years (requires continuing professional development to maintain) |
| Exam Price: | USD 350 |
| Exam Duration: | 120 minutes |
| Available Languages: | English |
| Real Exam Qty: | 80 |
| Related Certifications: | PRM Certificate FRM Certificate |
| Passing Score: | 70 |
| Sample Questions: | DOWNLOAD DEMO |
| Exam Way: | Computer-based testing (CBT), proctored, available at Pearson VUE test centers globally |
| Pre Condition: | No formal prerequisites; recommended: basic understanding of risk management concepts and financial services industry experience |
| Official Syllabus URL: | https://www.prmia.org/certification/orm-certificate/ |
PRMIA 8020 Exam Syllabus Topics:
| Section | Weight | Objectives |
|---|---|---|
| Topic 1: Risk Mitigation and Control | 15-20% | - Business continuity management - Control design and effectiveness - Incident management and response - Three lines model in practice - Risk transfer mechanisms (insurance, outsourcing) |
| Topic 2: Risk Identification and Assessment | 25-30% | - Risk assessment methodologies - Risk mapping and heat maps - Risk scenario analysis - Key Risk Indicators (KRIs) - Risk inventory and register management - Risk taxonomy and classification |
| Topic 3: Monitoring, Reporting and Emerging Risks | 10-15% | - ORM reporting to stakeholders - Continuous monitoring frameworks - Regulatory change management - Stress testing and reverse stress testing - Emerging operational risks - Technology and cyber risk considerations |
| Topic 4: Operational Risk Framework and Governance | 20-25% | - ORM definitions and concepts - Risk culture and appetite - ORM governance structures - Three lines of defense model - Regulatory and industry standards |
| Topic 5: Risk Measurement and Quantification | 15-20% | - OpRisk capital models (BIA, LDA, SMA) - Quantifying operational risk losses - Risk-adjusted performance measurement - VaR and expected loss approaches - Loss data collection and analysis |
PRMIA 8020 Exam: What Candidates Want to Know
PRMIA ORM Certificate - 2023 Update is an official PRMIA certification exam, registered under the code 8020. Passing it awards the PRM Certification certification, a credential at the Professional level. It also connects to PRM Certificate, FRM Certificate. The exam is demanding by design, and that difficulty is precisely what makes the credential meaningful for career development.
The PRMIA ORM Certificate - 2023 Update exam presents 80 questions within 120 minutes. That is a brisk pace, and the candidates who handle it best are the ones who rehearsed it. Use the ActualPDF engine for full timed simulations, practice flagging and returning, and arrive on exam day with a pacing strategy already proven.
Passing PRMIA ORM Certificate - 2023 Update takes 70, and official registration costs USD 350. Retakes bill the full USD 350 again, so preparation is the least expensive insurance available. Let your ActualPDF practice scores guide the timing: book when you clear the requirement consistently, not occasionally.
No formal prerequisites; recommended: basic understanding of risk management concepts and financial services industry experience
Policies get revised, so confirm the current requirements before you register on the official exam page.
Yes. ActualPDF offers a free demo of the PRMIA ORM Certificate - 2023 Update questions, so you can verify the quality personally before purchasing. Your purchase then includes a one-year service warranty: updates are free for 365 days, and after expiry you can extend the update service at a 50% discount.
Your money is protected by a 100% money-back guarantee with defined conditions. Take the PRMIA ORM Certificate - 2023 Update exam within 60 days of purchase; if you fail, you may claim a full refund, provided the exam matches your product. Attempts within 3 days of purchase are ineligible, as are downloaded-but-unused products, free materials, and expired orders; the candidate name must match the payer name. Submit a scanned enrollment slip and the official Score Report PDF within 2 days of the exam, and claims are processed within 7 days. You may instead wait for the update version or change to other exam material: exchange for two other exam products of equal value, free, with your original purchase keeping its update service.
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PRMIA ORM Certificate - 2023 Update is organized into 5 official domains. The most heavily weighted are Risk Mitigation and Control (15-20%), Operational Risk Framework and Governance (20-25%), and Risk Measurement and Quantification (15-20%). The full breakdown appears above on this page; study the weightings and your preparation priorities set themselves.
PRMIA ORM Certificate - 2023 Update Sample Questions:
Which of the below is accurate about a risk assessment workshop?
- A. Although workshops will take on their own form; it is best to prepare thoroughly ahead of time.
- B. Risk management should not attend the workshop so that proper discussion can take place.
- C. The workshop should be run spontaneously so that proper discussion can take place.
- D. Compliance experts should not attend the workshop so that proper discussion can take place.
Correct Answer: A 🗳️
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For the Barings case study, segregation of duties was an issue. How did this present itself in this case?
- A. A trader was responsible for managing the back-office.
- B. A risk manager was responsible for managing the back-office
- C. A trader was responsible for managing the expense account.
- D. A trader was responsible for managing the front-office.
Correct Answer: A 🗳️
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How can a chief risk officer encourage the governing body and executive management team to create a stronger risk culture?
- A. Discourage personal accountability to avoid a blame culture.
- B. Balance rewarding success in profitability goals with punishment when there is a failure to achieve goals.
- C. Establish a set of objectives that the board and executive team must adhere to.
- D. Having a vision of achievable but not excessive ambition.
Correct Answer: D 🗳️
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Under the previous Basel II approach, which was not an approach for operational risk?
- A. Basic Indicator Approach (BIA).
- B. The Standardized Approach (TSA).
- C. Alternative Measurement Approach (AMA).
- D. Advanced Measurement Approach (AMA).
Correct Answer: C 🗳️
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Process mapping is:
- A. A useful tool for understanding process intensive activities.
- B. All of the above.
- C. A good visualization tool for understanding where hand-offs and hand-ins may occur.
- D. A helpful tool for understanding where control gaps may exist.
Correct Answer: B 🗳️
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