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Updated: Aug 30, 2026

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PRMIA 8009 Exam Overview:

Certification Vendor:PRMIA (Professional Risk Managers' International Association)
Exam Name:Exam IV: Case Studies: Standards: Governance, Best Practices and Ethics - 2015 Edition
Exam Number:8009
Related Certifications:PRM™ Certification
Certificate Validity Period:2 years from pass date
Available Languages:English
Passing Score:60%
Exam Price:$275–$350 USD (member discount available)
Real Exam Qty:80–110
Exam Duration:120 minutes
Exam Format:Multiple-choice questions, Case study-based questions
Recommended Training:PRMIA 2015 Edition Study Guide
PRMIA Ethics and Governance Resources
Exam Registration:Pearson VUE Scheduling
PRMIA Official Registration
Sample Questions:PRMIA 8009 Sample Questions
Exam Way:Computer-based testing (CBT) at Pearson VUE test centers or online proctored
Pre Condition:No mandatory prerequisites; recommended to complete PRM Exams I–III or have equivalent risk management experience; PRMIA membership required for certification
Official Syllabus URL:https://www.prmia.org/Public/PRM/Becoming_a_Certified_PRM.aspx

PRMIA 8009 Exam Syllabus Topics:

SectionWeightObjectives
Risk Management Case Studies25%- Northern Rock
- Metallgesellschaft
- Baring Bank
- China Aviation Oil
- Orange County
- Long-Term Capital Management (LTCM)
PRMIA Standards of Best Practice, Conduct and Ethics30%- Whistleblowing and Reporting Violations
- Code of Conduct and Professional Responsibilities
- Ethical Decision-Making Framework
- Conflict of Interest and Disclosure
Risk Management Best Practices20%- Internal Controls and Risk Limits
- Enterprise Risk Management Framework
- Compliance and Regulatory Alignment
Corporate Governance Principles25%- Risk Governance Structure
- Transparency and Accountability
- Board and Senior Management Oversight
- PRMIA Governance Principles

PRMIA Exam IV: Case Studies: Standards: Governance, Best Practices and Ethics - 2015 Edition Sample Questions:

Question 1

The Chair of the PRMIA Board of Directors may hold the following offices:

A. Vice Chair
B. Secretary
C. Chair only
D. Parliamentarian


Question 2

Which of the following best characterizes the problems that developed at Bankgesellschaft Berlin?

A. Volume growth at the expense of margin.
B. A company culture where profits may justify "excesses."
C. Banking is a "for-profit" business, not a means of fulfilling political goals.
D. Excessive reliance on volatile trading income.


Question 3

Which of the following does NOT relate to the Orange County case?

A. Where there are excess rewards, there must be risks
B. The Know Your Customer rule
C. Fractured organisational structure and poor risk oversight mechanism make it easy for powerful individuals to hide risk in the gaps
D. Strategies that are not possible to explain to third parties should not be employed by the risk averse


Question 4

According to LTCM managers:

A. Stress Testing was not necessary because their trades were hedged
B. Stress Testing was elaborate, complex and conducted on their entire portfolio. It included the assumptions of a major breakdown in historical correlations
C. Stress Testing looked at the 12 biggest deals with each of their top 20 counterparties
D. Stress Testing was not conducted


Question 5

PRMIA Governance Principles

A. is a set of recommendations based on research and best practice
B. must be adhered to by all financial firms that are PRMIA members
C. must be adhered to by all PRM charter holders
D. must be adhered to by all PRMIA member organizations


Solutions:

Question 1
Answer: C
Question 2
Answer: C
Question 3
Answer: B
Question 4
Answer: C
Question 5
Answer: A

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