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AIWMI CCRA-L2 Exam Questions

Exam Name: Certified Credit Research Analyst - Level 2
Exam Code: CCRA-L2 CCRA - Level 2
Related Certification(s): AIWMI Certified Credit Research Analyst CCRA Certification
Certification Provider: AIWMI
Number of CCRA-L2 practice questions in our database: 84 (updated: Apr. 18, 2025)
Expected CCRA-L2 Exam Topics, as suggested by AIWMI :
  • Topic 1: Preparation of Credit Proposal and Credit Appraisal, Capital Budgeting Methods/ CRA Regulations and Debt Guidelines
  • Topic 2: Bond Valuation Measures including Swaps, OAS, YTW, YTM/ Classification of Investments in Financial Assets
  • Topic 3: Loan documentation, Covenants analysis and Trends/ Ratings For Financial Institutions And Banks, Sovereign Ratings, Internal Rating models(Basel)
  • Topic 4: Understanding Credit Spreads, Trading on Credit Spreads/ Ratio Analysis, Financial Modelling and Covenant Testing
  • Topic 5: Credit Monitoring and Identification of Early Warning Signals/ Assessment of Working Capital Finance, Analyze Treasuries and other corporate papers
  • Topic 6: Nuances of Accounting: Inventories, Depreciation, EPS, Intangible Assets/ Analysis in a Multi Asset Class portfolio
  • Topic 7: Nuances of Leases, Hire Purchase, Pension Liabilities/ Rating of Asset Backed and Mortgage Backed Securitization Transactions
  • Topic 8: Nuances of Credit Analysis from NBFC Perspective, Private Banking perspective, ARCPerspective/ Risk Mitigation using derivatives like swaps, FRA, caps and floors, Forex Hedge
  • Topic 9: Trading Strategies for Emerging Markets/ Ratings Methodology For Manufacturing Companies/ Understanding and analysis of Corporate Banking Facilities and other financing forms
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Laurene

24 days ago
Passed CCRA Level 2 today! Pass4Success, you nailed it with your prep materials. Thank you!
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Maia

26 days ago
Expected loss calculation was a key topic. Practice using PD, LGD, and EAD in various scenarios. Pass4Success practice questions were really helpful here!
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Hortencia

1 months ago
Brush up on different types of credit enhancements. They asked about guarantees, cash collateral, and overcollateralization.
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Leeann

2 months ago
Just conquered AIWMI CCRA Level 2! Pass4Success, you're a game-changer. Your questions were so relevant!
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Youlanda

2 months ago
The exam included questions on credit portfolio management. Understand diversification strategies and portfolio risk measures.
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Starr

2 months ago
Project finance analysis was featured. Review risk assessment methods for large-scale infrastructure projects.
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Sage

3 months ago
Success! CCRA Level 2 in the bag. Pass4Success, your materials were spot on. Saved me weeks of studying!
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Judy

3 months ago
Make sure you understand different types of covenants in debt agreements. The exam had several questions on this topic.
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Stefan

3 months ago
Having passed the AIWMI Certified Credit Research Analyst - Level 2 exam, I can say that Pass4Success practice questions were a great resource. A tough question on the exam was about credit monitoring and NPA management. It asked how to implement a robust NPA management framework. I wasn't sure of my answer, but I still passed.
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Lashaunda

3 months ago
There were questions on sovereign credit analysis. Study factors affecting sovereign ratings and default risks. Pass4Success materials were spot-on for this!
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Glory

4 months ago
AIWMI CCRA Level 2 done and dusted! Pass4Success, your practice tests were gold. Thanks for the quick prep!
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Rose

4 months ago
Corporate restructuring was an important topic. Review different types of restructuring and their impact on creditworthiness.
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Buck

4 months ago
The exam tested knowledge of credit scoring models. Understand both statistical and judgmental approaches to credit scoring.
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Sylvie

4 months ago
I’m happy to report that I passed the AIWMI Certified Credit Research Analyst - Level 2 exam, with help from Pass4Success practice questions. One question that was particularly challenging involved credit risk models and regulations. It asked about the differences between the Standardized Approach and the Internal Ratings-Based Approach under Basel II. Despite my uncertainty, I passed.
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Jovita

5 months ago
Passed CCRA Level 2 with flying colors. Pass4Success, your exam prep was invaluable. Couldn't have done it without you!
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Mollie

5 months ago
Be ready for questions on regulatory frameworks like Basel III. Know the key components and how they affect credit risk management.
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Peggie

5 months ago
Just passed the AIWMI Certified Credit Research Analyst - Level 2 exam, and the Pass4Success practice questions were invaluable. There was a difficult question about the different forms of corporate banking facilities. It asked to explain the benefits of a letter of credit over a bank guarantee. I was unsure, but I managed to pass.
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Frank

5 months ago
Credit derivatives were heavily featured. Study CDS, total return swaps, and credit-linked notes. Pass4Success really helped me grasp these concepts quickly!
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Alaine

5 months ago
I’m excited to announce that I passed the AIWMI Certified Credit Research Analyst - Level 2 exam, and Pass4Success practice questions were a big help. One question that puzzled me was related to credit strategy and portfolio management. It asked about the key components of a credit portfolio strategy. I wasn't confident in my answer, but I still passed.
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Salome

6 months ago
Woohoo! Cleared AIWMI CCRA Level 2. Pass4Success, you're the best! Your questions were exactly what I needed.
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Peggie

6 months ago
Bond valuation was a significant topic. Practice calculating yields and understanding the relationship between price and yield.
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Izetta

6 months ago
Passing the AIWMI Certified Credit Research Analyst - Level 2 exam was a great achievement for me, aided by Pass4Success practice questions. A question that caught me off guard was about the internal and external credit rating processes. It asked to compare the methodologies used by major credit rating agencies. Despite my doubts, I passed.
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Elouise

6 months ago
The exam had several questions on structured finance products. Review CDOs, CLOs, and mortgage-backed securities thoroughly.
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William

6 months ago
I’m thrilled to share that I passed the AIWMI Certified Credit Research Analyst - Level 2 exam, thanks in part to Pass4Success practice questions. One challenging question involved the process of credit monitoring and the steps to manage Non-Performing Assets (NPAs). It asked about the early warning signals for NPAs. Even though I was unsure, I managed to get through.
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Loren

7 months ago
CCRA Level 2 was tough, but I made it! Pass4Success materials were a lifesaver. Matched the real exam perfectly.
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Dahlia

7 months ago
Prepare for questions on financial statement analysis. They asked about key ratios and their interpretations in credit evaluation. Thanks to Pass4Success for the great prep materials!
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Virgina

7 months ago
Having just cleared the AIWMI Certified Credit Research Analyst - Level 2 exam, I can attest to the value of Pass4Success practice questions. There was a tricky question on the exam about the Basel III regulations and how they impact credit risk models. It specifically asked about the capital adequacy ratio and its importance. I wasn't entirely sure of my answer, but I still succeeded.
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Luisa

7 months ago
Just passed the AIWMI CCRA Level 2 exam! The credit risk assessment questions were challenging. Make sure you understand different credit risk models and their applications.
upvoted 0 times
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Dwight

7 months ago
I recently passed the AIWMI Certified Credit Research Analyst - Level 2 exam, and I must say, the Pass4Success practice questions were incredibly helpful. One question that stumped me was about the different types of corporate banking facilities and their specific uses. It asked about the key differences between a revolving credit facility and a term loan. Despite my uncertainty, I managed to pass.
upvoted 0 times
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Bernadine

8 months ago
Just passed the AIWMI CCRA Level 2 exam! Thanks Pass4Success for the spot-on practice questions. Saved me so much prep time!
upvoted 0 times
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Franklyn

8 months ago
With the support of Pass4Success practice questions, I was able to pass the AIWMI Certified Credit Research Analyst - Level 2 exam. The exam included topics such as CRA Regulations, Debt Guidelines, and Bond Valuation Measures. One challenging question I encountered was related to capital budgeting methods, where I had to analyze different methods and choose the most suitable one for a given scenario.
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Reita

9 months ago
My exam experience for the AIWMI Certified Credit Research Analyst - Level 2 exam was successful, thanks to Pass4Success practice questions. The topics on Bond Valuation Measures and Classification of Investments in Financial Assets were crucial for the exam. One question that stood out to me was about bond valuation measures, specifically comparing different measures like YTW and YTM for a given bond.
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Myra

10 months ago
Just passed the CCRA Level 2 exam! A tricky question involved analyzing a company's credit risk using financial ratios. Focus on interpreting liquidity and leverage ratios, and their impact on creditworthiness. Thanks to Pass4Success for the spot-on practice questions that helped me prepare efficiently!
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Karan

10 months ago
I passed the AIWMI Certified Credit Research Analyst - Level 2 exam with the help of Pass4Success practice questions. The exam covered topics such as Preparation of Credit Proposal and Credit Appraisal, Capital Budgeting Methods, and Debt Guidelines. One question that I remember was related to the classification of investments in financial assets, where I had to determine the appropriate category for a specific type of investment.
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Free AIWMI CCRA-L2 Exam Actual Questions

Note: Premium Questions for CCRA-L2 were last updated On Apr. 18, 2025 (see below)

Question #1

Ms. Mary Brown is a credit rating analyst. She had prepared a detailed report on one of her client, FlyHigh

Airlines Ltd, a company operating chartered aircrafts in Indi

a. As she was heading for a meeting with her superior on the matter, coffee spilled over her set of prepared paper(s). As she was getting late for meeting, instead of preparing entire set she could recollect few numbers from her memory and reconstructed following partial financial table:

An analyst comparing two competitors Comp Systems and Big Tables gathers the data below:

Cash Conversions Cycle:

Comp Systems: 18 days and Big Tables 32 days

Defense Interval Ratio:

Comp Systems: 50 and Big Tables: 20

What can the analyst conclude regarding the liquidity of these companies?

Reveal Solution Hide Solution
Correct Answer: C

Question #2

Proportion of fee based income is examined as the same is an _____ efficient source of bank's profitability.

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Correct Answer: A

Question #3

Ms. Mary Brown is a credit rating analyst. She had prepared a detailed report on one of her client, FlyHigh

Airlines Ltd, a company operating chartered aircrafts in India. As she was heading for a meeting with her superior on the matter, coffee spilled over her set of prepared paper(s). As she was getting late for meeting, instead of preparing entire set she could recollect few numbers from her memory and reconstructed following partial financial table:

Compute Interest for FY10 and FY12?

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Correct Answer: C

Question #4

The following information pertains to bonds:

Further following information is available about a particular bond 'Bond F'

There is a 10.25% risky bond with a maturity of 2.25% year(s) its current price is INR105.31, which ccorresponds to YTM of 9.22%. The following are the benchmark YTMs.

Assume that the general market rates have increased. An issuer, Revolution Ltd has plans to roll over its existing commercial paper and forth coming reset dates for its floating rate bonds are very near. Which of the following ratios for revolution will get impacted?

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Correct Answer: A

Question #5

Satish Dhawan, a veteran fixed income trader is conducting interviews for the post of a junior fixed income trader. He interviewed four candidates Adam, Balkrishnan, Catherine and Deepak and following are the answers to his questions.

Question 1: Tell something about Option Adjusted Spread

Adam: OAS is applicable only to bond which do not have any options attached to it. It is for the plain bonds.

Balkishna: In bonds with embedded options, AS reflects not only the credit risk but also reflects prepayment risk over and above the benchmark.

Catherine: Sincespreads are calculated to know the level of credit risk in the bound, OAS is difference between in the Z spread and price of a call option for a callable bond.

Deepark: For callable bond OAS will be lower than Z Spread.

Question 2: This is a spread that must be added to the benchmark zero rate curve in a parallel shift so that the sum of the risky bond's discounted cash flows equals its current market price. Which Spread I am talkingabout?

Adam: Z Spread

Balkrishna: Nominal Spread

Catherine: Option Adjusted Spread

Deepark: Asset Swap Spread

Question 3: What do you know about Interpolated spread and yield spread?

Adam: Yield spread is the difference between the YTM of a risky bond and the YTM of an on-the-run treasury benchmark bond whose maturity is closest, but not identical to that of risky bond. Interpolated spread is the spread between the YTM of risky bond and the YTM of same maturity treasury benchmark, which is interpolated from the two nearest on-the-run treasury securities.

Balkrishna: Interpolated spread is preferred to yield spread because the latter has the maturity mismatch, which leads to error if the yield curve is not flat and the benchmark security changes over time, leading to inconsistency.

Catherine: Interpolated spread takes account the shape of the benchmark yield curve and therefore better

than yield spread.

Deepak: Both Interpolated Spread and Yield Spread rely on YTM which suffers from drawbacks and inconsistencies such as the assumption of flat yield curve and reinvestment at YTM itself.

Then Satish gave following information related to the benchmark YTMs:

There is a 10.25% risky bond with a maturity of 4.75 year(s). Its current price is INR105.31, which corresponds

to YTM of 9.22%. Compute Interpolated Spread from the information provided in the vignette:

Reveal Solution Hide Solution
Correct Answer: C

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