It is a long established fact that a reader.
It is a long established fact that a reader.
It is a long established fact that a reader.
It is a long established fact that a reader.
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GARP 2016-FRR (Financial Risk and Regulation) exam is a certification exam created by the Global Association of Risk Professionals (GARP). 2016-FRR exam is designed to test the knowledge and skills of risk professionals in the financial industry, specifically in the areas of financial risk management and regulation.
GARP 2016-FRR exam is one of the exams in the FRR Series and is designed for financial professionals who want to demonstrate their knowledge of current risk management practices and regulatory requirements. 2016-FRR Exam covers a wide range of topics, including quantitative analysis, market risk management, credit risk management, operational risk management, and regulatory compliance. 2016-FRR exam also tests candidates' understanding of the regulatory environment and the impact of regulatory changes on financial institutions.
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GARP 2016-FRR Certification Exam is a computer-based exam that consists of 100 multiple-choice questions. Candidates have four hours to complete the exam. 2016-FRR Exam is offered in English and can be taken at various testing centers around the world. The passing score for the exam is 70%.
NEW QUESTION # 25
What do option deltas measure?
Answer: C
Explanation:
Option delta () is a measure used in finance to indicate the sensitivity of an option's price to the price of the underlying asset. Specifically, it represents the rate of change of the option's value with respect to changes in the price of the underlying instrument. It is a fundamental concept in options trading and risk management.
References:
* Standard definition from options theory.
NEW QUESTION # 26
Which one of the following four regulatory drivers for operational risk management includes risk and control requirements for financial statements in the United States?
Answer: C
Explanation:
The Sarbanes-Oxley Act includes risk and control requirements for financial statements in the United States. It mandates strict reforms to improve financial disclosures from corporations and prevent accounting fraud. This Act directly impacts operational risk management by setting standards for all U.S. public company boards, management, and public accounting firms.
NEW QUESTION # 27
Why is stress testing a valuable part of credit risk assessment?
Answer: D
Explanation:
Comprehensive and Detailed In-Depth Explanation:
Stress testing evaluates a credit portfolio's resilience under adverse scenarios (e.g., economic downturns), quantifying impacts on defaults, losses, and capital adequacy. Option D is correct-Basel II's Pillar 2 mandates stress testing for unexpected outcomes. Option A (common situations) describes standard modeling, not stress testing. Option B (probabilistic expectations) aligns with VaR, not stress testing's focus on extremes. Option C (optimizing migration) is unrelated to stress testing's purpose.
Exact Extract from Official Source:
* BCBS, "Basel II: International Convergence of Capital Measurement and Capital Standards," June
2006, para. 434: "Stress testing is a critical tool for credit risk assessment, enabling banks to quantify the impact of adverse and unexpected scenarios on their credit portfolios and capital levels."
* GARP FRR Study Notes, Credit Risk Section: "Stress testing assesses the effect of severe, unexpected events on credit losses and capital, distinguishing it from routine risk modeling." Reference:BCBS, "Basel II," para.434; GARP FRR Study Notes, Credit Risk Section.
NEW QUESTION # 28
According to the principles of the Basel II Accord, the implementation and relative weights of the elements of the operational risk framework depend on:
I. The culture of the financial institution
II. Regulatory drivers
III. Business drivers
IV. The bank's reporting currency
Answer: D
Explanation:
According to the principles of the Basel II Accord, the implementation and relative weights of the elements of the operational risk framework depend on the culture of the financial institution (I), regulatory drivers (II), and business drivers (III). The bank's reporting currency (IV) is not relevant to the implementation of the operational risk framework under Basel II.
References:Basel II Accord principles on operational risk.
NEW QUESTION # 29
The potential failure of a manufacturer to honor a warranty might be called ____, whereas the potential failure
of a borrower to fulfill its payment requirements, which include both the repayment of the amount borrowed,
the principal and the contractual interest payments, would be called ___.
Answer: D
NEW QUESTION # 30
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