Garp spoto sure Pass Exam 2016-frr Pdf by Selena q137 vce pdf

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Exam Name:	Financial Risk and Regulation (FRR) Series
Exam Code:	2016-FRR Dumps
Vendor:	GARP	Certification:	Financial Risk and Regulation
Questions:	387 Q&A's	Shared By:	selena

Question 64

In its VaR calculations, JPMorgan Chase uses an expected tail-loss methodology which approximates losses at the 99% confidence level. This methodology consists of two subsequent steps to estimate the VaR. Which of the following explains this two-step methodology?

Options:

After VaR is computed at the 97% confidence level, the expected tail loss in excess of that confidence level is determined, which is then compared with the VaR estimate at the 99% confidence level.

After VaR is computed at the 99% confidence level, the expected tail loss in excess of that confidence level is determined, which is then compared with the VaR estimate at the 98% confidence level.

After VaR is computed at the 99% confidence level, the expected tail loss in excess of that confidence level is determined, which is then compared with the VaR estimate at the 99% confidence level.

After VaR is computed at the 1% confidence level, the expected tail loss in excess of that confidence level is determined, which and is then compared with the VaR estimate at the 98% confidence level.

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Question 65

Which one of the four following statements describes a specific characteristic of risk and control self-assessments (RCSA) which distinguishes it from both control assessments and risk and control assessments?

Options:

RCSA is conducted by a third party, perhaps audit, compliance or the Sarbanes-Oxley team.

RCSA tests a control's effectiveness against set criteria and issues a pass/fail or level of effectiveness score.

RCSA is subjective by nature.

RCSA includes a risk assessment in addition to a control assessment.

Discussion

Question 66

What is the order in which creditors and shareholders get repaid in the event of a bank liquidation?

Options:

Depositors, shareholders, debt holders.

Debt holders, depositors, shareholders.

Depositors, debt holders, shareholders.

Depositors, shareholders, depositors.

Discussion

Question 67

A bank customer expecting to pay its Brazilian supplier BRL 100 million asks Alpha Bank to buy Australian dollars and sell Brazilian reals. Alpha bank does not hold reals so it asks for a quote to buy Brazilian reals in the market. The market rate is 100. The bank quotes a selling rate of 101 to its customer and sells the real at this quoted price. Then the bank immediately buys the real at the market rate and completes foreign exchange matched transaction. What is the impact of this transaction on the bank's risk profile?

Options:

This transaction eliminates credit risk.

This transaction eliminates counterparty risk.

This transaction eliminates market risk.

This transaction eliminates operational risk.