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PRMIA PRM Certification - Exam IV: Case Studies; Standards: Governance, Best Practices and Ethics Sample Questions:

1. Which of the following is NOT part of the PRMIA Standards of Best Practice, Conduct and Ethics (Code of Conduct) Guidance on Ethical Behavior?

A) Take responsibility for your work
B) Ensure globally accepted standards are adhered to at all costs
C) Respect local customs
D) Respect local laws and regulations

2. The retrocession insurance cover was provided by

A) Fortress Re and other insurers
B) The Fortress Re reinsurers only
C) Fortress Re and their reinsurers
D) The fronting insurance companies

3. For the sentence
"The organization shall encourage all employees to keep abreast of the latest developments in their particular areas of expertise, through ____________, _____________, and _____________ and shall make adequate resources available to enable this to occur," Choose the correct combinations of words from the following options:

A) courses, conferences, journals
B) conferences, discussion groups, blog sites
C) courses, educational certification, journals
D) journals, courses, compliance mandates

4. Corporate Governance ...

A) Is defined as business decision making predicated on a belief in potential rewards, balanced with the knowledge, understanding and appreciation of the risk taken to pursue those potential rewards
B) Is defined as that which is best practiced within an enterprise risk management framework, guided by the PRMIA Standards of Best Practice, Conduct and Ethics above all else
C) Is defined as the assembled knowledge and wisdom of the collective stakeholders in the organization, set to maximize shareholder value
D) Eliminates risk to the greatest extent possible

5. As a PRMIA member, you have certain responsibilities. Among these are the requirement(s) to:

A) All of the above
B) Adhere to the PRMIA Standards of Best Practice, Conduct and Ethics
C) Attend at least one PRMIA chapter meeting per year
D) Vote in Board elections

Solutions: