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PRMIA Credit and Counterparty Manager (CCRM) Certificate : 8011

8011 Exam Simulator
  • Exam Code: 8011
  • Exam Name: Credit and Counterparty Manager (CCRM) Certificate Exam
  • Updated: Sep 15, 2026
  • Q & A: 330 Questions and Answers
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PRMIA 8011 Exam Syllabus Topics:

SectionWeightObjectives
Topic 1: Classic Credit Products, Life Cycle and Credit Risk Methodology30%- Introduction to Credit Risk
- Classic Credit Risk Methodology
- Classic Credit Products
Topic 2: Case Studies7%
Topic 3: Counterparty Risk and Risk Mitigation13%- Basics of Counterparty Risk
- Risk Mitigation Techniques
Topic 4: Credit Risk Modeling and Portfolio Management20%- Modern Credit Risk Modeling
- Credit Portfolio Management
Topic 5: Credit Derivatives and Securitization13%- Credit Derivatives
- Securitization Processes and Instruments
Topic 6: Credit Valuation Adjustment (CVA) and Related Topics17%- XVA and SA-CCR
- Managing Counterparty Risk and CVA
- Credit Valuation Adjustment (CVA)

PRMIA Credit and Counterparty Manager (CCRM) Certificate Sample Questions:

Question #1

Which of the following statements is true:
I. If the sum of its parameters is less than one, GARCH is a mean reverting model of volatility, while EWMA is never mean reverting II. Standardized returns under both EWMA and GARCH show less non-normality than non standardized returns III. Steady state variance under GARCH is affected only by the persistence coefficient IV. Good risk measures are always sub-additive

  • A. I, II and III
  • B. I & II
  • C. II, III and IV
  • D. I, II and IV
Reveal Solution  Discussion  0

Correct Answer: D  🗳️

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Question #2

Which of the following statements are true in relation to Principal Component Analysis (PCA) as applied to a system of term structures?
I. The factor weights on the first principal component will show whether there is common trend in the system II. The factors to be applied to principal components are obtained from eigenvectors of the correlation matrix III. PCA is a standard method for reducing dimensionality in data when considering a large number of correlated variables IV. The smallest absolute eigenvalues and their associated eigenvectors are the most useful for explaining most of the variation

  • A. I, II and III
  • B. II and IV
  • C. I and III
  • D. I and IV
Reveal Solution  Discussion  0

Correct Answer: B  🗳️

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Question #3

Which of the following is not true about the ISDA master agreement (ISDA MA):

  • A. All transactions under the ISDA MA are considered separate obligations
  • B. The CSA (Credit Support Annex) is one of the parts of the ISDA MA
  • C. The ISDA MA describes the close out process
  • D. The ISDA MA describes events of default, and termination events
Reveal Solution  Discussion  0

Correct Answer: A  🗳️

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Question #4

If the default hazard rate for a company is 10%, and the spread on its bonds over the risk free rate is 800 bps, what is the expected recovery rate?

  • A. 0.00%
  • B. 20.00%
  • C. 40.00%
  • D. 8.00%
Reveal Solution  Discussion  0

Correct Answer: B  🗳️

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Question #5

If the marginal probabilities of default for a corporate bond for years 1, 2 and 3 are 2%, 3% and 4% respectively, what is the cumulative probability of default at the end of year 3?

  • A. 91.26%
  • B. 9.58%
  • C. 9.00%
  • D. 8.74%
Reveal Solution  Discussion  0

Correct Answer: D  🗳️

Explanation: Only visible for ITExamSimulator members. You can sign-up / login (it's free).

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