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- Total Questions: 62
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- Total Questions: 62
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Finding time to prepare for the PRMIA ORM Certificate - 2023 Update exam is hard when work already fills your week. NewPassLeader packs 62 focused practice questions for the 8020 exam into formats you can study in short bursts, so every spare half hour moves you closer to a pass.
PRMIA 8020 Exam Overview:
| Certification Vendor: | PRMIA |
|---|---|
| Exam Name: | ORM Certificate - 2023 Update |
| Exam Number: | 8020 |
| Certificate Validity Period: | 3 years |
| Available Languages: | English |
| Exam Format: | Computer-Based, Multiple Choice |
| Exam Duration: | 120 minutes |
| Passing Score: | 60% |
| Real Exam Qty: | 60 |
| Exam Price: | $395 - $495 USD (varies by membership status) |
| Related Certifications: | ORM Designation PRM Designation |
| Recommended Training: | PRMIA ORM Certificate Candidate Guidebook PRMIA Learning Resources |
| Exam Registration: | Pearson VUE Scheduling PRMIA Official Registration |
| Sample Questions: | DOWNLOAD DEMO |
| Exam Way: | Onsite at Pearson VUE centers or Online Proctored (OnVUE) |
| Pre Condition: | Create PRMIA account; no prior certification or experience required |
| Official Syllabus URL: | https://www.prmia.org/Public/Certificate/ORM_Certificate/Attaining_the_ORM_Certificate.aspx |
PRMIA 8020 Exam Syllabus Topics:
| Section | Weight | Objectives |
|---|---|---|
| Topic 1: Risk Governance | 15% | - Culture, ethics, and conduct risk - Policies, standards, and risk appetite statements - Board and senior oversight - Governance frameworks, roles, and responsibilities |
| Topic 2: Introduction to Operational Risk Management | 3% | - Basic definitions, concepts, and classification of operational risk - Evolution and regulatory context - Role and importance in financial and non-financial organizations |
| Topic 3: Risk Control and Mitigation | 20% | - Risk mitigation strategies: avoidance, reduction, transfer, acceptance - Business continuity and resilience - Third-party and outsourcing risk management - Control design, implementation, and effectiveness |
| Topic 4: Risk Information and Data Management | 17% | - Data collection, validation, and quality - Reporting requirements and standards - Key Risk Indicators (KRIs) and metrics - Loss data collection and analysis |
| Topic 5: Risk Identification and Assessment | 25% | - Risk assessment techniques: qualitative and quantitative - Self-assessment and risk control self-assessment (RCSA) - Scenario analysis and risk mapping - Methods and tools for identification |
| Topic 6: Monitoring, Reporting, and Assurance | 20% | - Ongoing monitoring and review processes - Internal and external audit roles - Compliance and regulatory reporting - Continuous improvement and lessons learned |
PRMIA 8020 Exam — Your Questions, Answered
The 8020 exam, officially titled ORM Certificate - 2023 Update, is the PRMIA exam you pass to earn the Operational Risk Management (ORM) Certificate certification, a credential at the Foundation / Associate level. Passing it confirms the skills defined in the official exam outline, and it is associated with related credentials such as PRM Designation, ORM Designation.
The 8020 exam includes 60 questions and gives you 120 minutes to finish them. That is a tight pace per question, so get used to reading each stem once, flagging anything uncertain, and moving on rather than getting stuck. Running timed practice tests in the NewPassLeader desktop or online test engine is the most reliable way to build that rhythm before exam day.
The passing score for the 8020 exam is 60%, and the official registration fee is $395 - $495 USD (varies by membership status). Keep in mind that a failed attempt means paying $395 - $495 USD (varies by membership status) again in full to retake it, so book your slot only when your scores on NewPassLeader practice tests sit consistently above the passing line.
PRMIA lists the following prerequisites or eligibility notes for the 8020 exam: Create PRMIA account; no prior certification or experience required. Requirements can change over time, so confirm the details on the official exam page at PRMIA's official site before you register.
You can register for the 8020 exam through the official channels below:
The exam is delivered in the following format: Onsite at Pearson VUE centers or Online Proctored (OnVUE). Choose a date that leaves you enough time to work through the full 62-question practice set first.
PRMIA recommends the following training resources for 8020 candidates:
Official courses build the theory, and the 62 practice questions from NewPassLeader help you turn that theory into exam-ready speed and accuracy.
Yes. NewPassLeader offers a free PDF demo of the 8020 material, so you can check the question style and answer quality before purchasing. Every purchase also includes 365 days of free updates, and if your product expires you can extend the update service at a 50% discount from your member zone.
Your purchase is protected by a 100% Money Back Guarantee with clear conditions: if you take the corresponding 8020 exam within 60 days of purchase and do not pass, you can apply for a full refund. The candidate name must match the payer name, and you need to submit a scanned exam enrollment slip together with the official Score Report PDF within 2 days of taking the exam; claims are processed within 7 days. Sitting the exam within 3 days of purchase, downloading without taking the exam, free materials, and expired orders are not covered. If you would rather not take a refund, you can exchange your order for two free exam products of equal value and keep the update service on your original purchase.
Delivery is instant: your download links are emailed within one minute of payment, and you can also download directly from the website. If nothing arrives within 2 hours, contact customer service and check your spam folder. There is no limit on how many computers you can install the material on.
The 8020 exam blueprint is divided into 6 domains, starting with Risk Governance (15%); Introduction to Operational Risk Management (3%); Risk Control and Mitigation (20%). For the complete domain-by-domain breakdown, see the Exam Topics section above — it lists every topic the current outline covers.
PRMIA ORM Certificate - 2023 Update Sample Questions:
Risk Sensitive pricing is required for several good reasons. Which one of the following is not relevant to the Management's evaluation of the correct approach to Risk Sensitive pricing?
- A. To adequately reward the investors for the capital they gave us to put at risk.
- B. To link personal targets to risk-adjusted return requirements would reinforce the desired risk aware, culture.
- C. To ensure the income targets can be met or exceeded.
- D. To avoid the build-up of a skewed quality property portfolio.
Correct Answer: C 🗳️
Explanation: Only visible for NewPassLeader members. You can sign-up / login (it's free).
Which of the following best describes the role of the compliance department?
- A. The compliance department is responsible for implementing the first line's compliance risk management controls.
- B. The compliance department is responsible for providing oversight over the board's implementation of compliance risk management controls.
- C. The compliance department is responsible for providing oversight over the first line's implementation of compliance risk management controls.
- D. The compliance department is responsible for providing oversight over the auditor's implementation of compliance risk management controls.
Correct Answer: C 🗳️
Explanation: Only visible for NewPassLeader members. You can sign-up / login (it's free).
Ideally, which of the following should be completed as part of the risk assessments of service providers?
- A. An assessment of a third party should not include its compliance and risk infrastructure, financials, business strategy and operating history.
- B. An assessment of a third party should include its compliance and risk infrastructure, financials, business strategy and operating history.
- C. A review of the pay levels of the staff supporting the service.
- D. Onsite visits are not advantageous for understanding the third party's risks and control environment.
Correct Answer: B 🗳️
Explanation: Only visible for NewPassLeader members. You can sign-up / login (it's free).
How can a chief risk officer encourage the governing body and executive management team to create a stronger risk culture?
- A. Discourage personal accountability to avoid a blame culture.
- B. Having a vision of achievable but not excessive ambition.
- C. Establish a set of objectives that the board and executive team must adhere to.
- D. Balance rewarding success in profitability goals with punishment when there is a failure to achieve goals.
Correct Answer: B 🗳️
Explanation: Only visible for NewPassLeader members. You can sign-up / login (it's free).
Which of the following principles best applies to a compliance function?
- A. The compliance function should report to the business (even when following a three lines of defense model).
- B. The compliance function should be independent of the business (following a three lines of defense model).
- C. The risk function should be outsourced if there is a compliance function.
- D. The compliance function should be outsourced if there is a risk function.
Correct Answer: B 🗳️
Explanation: Only visible for NewPassLeader members. You can sign-up / login (it's free).
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