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PRMIA Exam 8004 Topic 1 Question 24 Discussion

Actual exam question for PRMIA's 8004 exam
Question #: 24
Topic #: 1
[All 8004 Questions]

The Fortress Re accounting risk transfer procedures

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Suggested Answer: D

by Sommer at May 19, 2024, 08:01 PM

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Veronique
10 months ago
Option C is the way to go. Having an independent team report to the Executive Committee is the best way to ensure proper risk management oversight.
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Britt
10 months ago
I see your point, but I still believe option C is the most crucial for ensuring proper risk management infrastructure.
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Justine
10 months ago
I think option D is also important, reviewing the application of good governance principles is crucial for effective risk management.
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Shawana
10 months ago
I agree, having an independent team reporting to the Executive Committee ensures unbiased oversight.
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Rodolfo
11 months ago
I'm going with option B. Excluding legal or accounting from the Risk Management Infrastructure? That's just asking for trouble!
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Denae
11 months ago
Ha! Option A is the clear winner. Defining risk management in 'clear and uncertain terms' sounds like an oxymoron to me.
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Jerry
9 months ago
Yeah, it doesn't make sense to define something in both clear and uncertain terms.
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Ora
10 months ago
C) Be independently staffed and report to an employee who is on the Executive Committee (Operating Committee) but who is NOT a business unit leader
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Monte
10 months ago
I agree, option A is definitely contradictory.
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Georgiana
10 months ago
Yeah, it does sound contradictory. Option A should definitely not be part of the Risk Management Infrastructure.
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Roy
10 months ago
I agree, defining risk management in 'clear and uncertain terms' doesn't make sense.
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Aja
10 months ago
B) Include financial risk management, compliance and external reporting and, to the extent that resources allow, should exclude legal or accounting
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Veda
10 months ago
Yeah, it does sound contradictory. Option A should definitely not be part of the Risk Management Infrastructure.
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Sue
10 months ago
A) Define the organization's definition of risk management as articulated by the Board in clear and uncertain terms
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Ellsworth
10 months ago
I agree, defining risk management in 'clear and uncertain terms' doesn't make sense.
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Sylvie
11 months ago
Option D is the odd one out here. Reviewing the principles of good governance is important, but it's not directly part of the Risk Management Infrastructure.
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Clorinda
11 months ago
I think option B is the one that shouldn't be part of the Risk Management Infrastructure. It mentions excluding legal or accounting, which seems counterintuitive for managing risks.
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Socorro
11 months ago
I think we should definitely include financial risk management and compliance in the infrastructure.
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Miles
11 months ago
I agree, excluding legal or accounting from risk management doesn't make sense.
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