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CISI-Managing Operational Risk in Financial Institutions
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Question 1 of 10
1. Question
What is least expected from the successful Senior ALM committees to do in the event of liquidity stress testing?
Correct
In the event of liquidity stress testing, the least anticipated of effective Senior ALM committees is that they have developed reverse internal testing scenarios in which the business model is unviable. ALM committees evaluate and inform their governing bodies as to whether (reverse) failure scenarios are acceptably distant, and send them to EXCO and the larger governing body to determine the remoteness of failure scenarios in relation to the stated liquidity risk tolerance of the governing body.
Incorrect
In the event of liquidity stress testing, the least anticipated of effective Senior ALM committees is that they have developed reverse internal testing scenarios in which the business model is unviable. ALM committees evaluate and inform their governing bodies as to whether (reverse) failure scenarios are acceptably distant, and send them to EXCO and the larger governing body to determine the remoteness of failure scenarios in relation to the stated liquidity risk tolerance of the governing body.
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Question 2 of 10
2. Question
What is least expected of effective senior ALM committees in the case of Banking Book Interest Rate Risk (IRRBB) and other net interest income (NII) responsiveness drivers?
Correct
Good packs set out the extent and nature of interest rate behavioural assumptions used to determine the level of non-traded market interest rate risk and the sensitivity of the position reported to these behavioural assumptions.
Incorrect
Good packs set out the extent and nature of interest rate behavioural assumptions used to determine the level of non-traded market interest rate risk and the sensitivity of the position reported to these behavioural assumptions.
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Question 3 of 10
3. Question
What is strongly anticipated from strong ALM packs in regards to the impact on assets and liabilities of current operating strategies and industry updates?
Correct
Take into account on key risk factors for liquidity and systemic funding to enable the Senior ALM Committee to assess whether a combined approach across all business lines will result in an organization remaining within the risk tolerance set by the governing body.
Incorrect
Take into account on key risk factors for liquidity and systemic funding to enable the Senior ALM Committee to assess whether a combined approach across all business lines will result in an organization remaining within the risk tolerance set by the governing body.
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Question 4 of 10
4. Question
Which of the above is not a problem that the Senior ALM Committee considers?
Correct
Money laundering and fraud causes is not under the list of responsibilities of Senior ALM Committee. Rather they are held responsible for Foreign exchange systemic vulnerability and Interest rate vulnerability in the banking book (IRRBB) and other exposure factors.
Incorrect
Money laundering and fraud causes is not under the list of responsibilities of Senior ALM Committee. Rather they are held responsible for Foreign exchange systemic vulnerability and Interest rate vulnerability in the banking book (IRRBB) and other exposure factors.
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Question 5 of 10
5. Question
Pick out the incorrect statement about Good technical committees at ALM.
Correct
Good senior ALM committees seek to ensure that the funds transfer pricing (FTP) mechanism is appropriate, and act as the arbitrator between business lines in designing and implementing FTP.
Incorrect
Good senior ALM committees seek to ensure that the funds transfer pricing (FTP) mechanism is appropriate, and act as the arbitrator between business lines in designing and implementing FTP.
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Question 6 of 10
6. Question
Net interim book profits of a BIPRU firm mean its net book profits adjusted as follows:
Correct
A business shall not take into account items already contained in the capital asset calculation as part of the estimation of interim net income.
Incorrect
A business shall not take into account items already contained in the capital asset calculation as part of the estimation of interim net income.
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Question 7 of 10
7. Question
Illiquid property means highly leveraged assets, like:
Correct
Strong resources except for physical product positions included in the business PRR estimate of the company, and other properties in the capital stock of lending unions or financial institutions, except where these securities were excluded as material holdings.
Incorrect
Strong resources except for physical product positions included in the business PRR estimate of the company, and other properties in the capital stock of lending unions or financial institutions, except where these securities were excluded as material holdings.
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Question 8 of 10
8. Question
A BIPRU business that measures probability weighted exposure amounts under the IRB methodology or the uniform credit risk method will subtract the following from its capital resources:
Correct
Disclosure of securitisation positions earning a 1250 per cent risk weight under (Securitisation), unless the company includes the securitisation positions in its calculation of risk weighted disclosure.
Incorrect
Disclosure of securitisation positions earning a 1250 per cent risk weight under (Securitisation), unless the company includes the securitisation positions in its calculation of risk weighted disclosure.
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Question 9 of 10
9. Question
The sum to be withheld for each keeping of content protection shall be the higher of:
Correct
The sum to be withheld for each keeping of content protection shall be the higher of the book value of a portfolio in content protection and requirement of sole financial wealth for insurance undertaking.
Incorrect
The sum to be withheld for each keeping of content protection shall be the higher of the book value of a portfolio in content protection and requirement of sole financial wealth for insurance undertaking.
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Question 10 of 10
10. Question
The quantity of qualified securities to be excluded by a bank or building society in the financial assets table measurement is:
Correct
(If a business has one or more eligible assets which exceed 50 of the applicable capital resources) the amount of those excesses or The percentage by which the total of each of the qualified securities of that company reaches 60 per cent of the financial resources involved.
Incorrect
(If a business has one or more eligible assets which exceed 50 of the applicable capital resources) the amount of those excesses or The percentage by which the total of each of the qualified securities of that company reaches 60 per cent of the financial resources involved.