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PRMIA ORM

Operational Risk Management

Verified practice questions with detailed answers, clear explanations, and community discussion.

  • 58

    questions

  • 7 days ago

    last updated

  • 4.8/5

    overall rating

Question 1 of 58

ISO 27000 relates to what topic / area?
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Correct answer: B

ISO 27000 is a family of standards focused on information security management systems. It provides terminology, principles, and requirements used to protect the confidentiality, integrity, and availability of information. Organizations use these standards to establish, operate, monitor, and improve information security controls. It does not address ESG investing, general international risk management, or financial-control auditing.

Question 2 of 58

What are the roles of business versus risk management in developing and implementing risk assessments?
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Correct answer: B

Business management owns the risk assessment because it is closest to the activities, processes, and controls that create operational risk. Risk management, as the second line of defense, establishes the assessment framework, supports and facilitates consistent execution, and challenges results through oversight. This division preserves business accountability while ensuring independent guidance and effective risk governance. Risk management does not replace business ownership or remain entirely uninvolved.

Question 3 of 58

For the TSB case, what was the cause of the outage at the heart of the case?
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Correct answer: C

A failed migration of customer accounts to a new IT system caused the TSB outage. Problems during the transfer disrupted access to online banking and other services, leaving millions of customers unable to use their accounts for an extended period. The case illustrates operational risk arising from technology change, inadequate testing, and weak implementation controls rather than from market pricing or liquidity risk.

Question 4 of 58

When a control is found to be ineffective, which of the following steps should be taken next?
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Correct answer: B

An action plan should be designed to close the control gap identified by the ineffective control. The plan defines corrective measures, ownership, timelines, and follow-up activities needed to restore adequate risk mitigation. Simply waiting for the next assessment cycle leaves the organization exposed, while reassessing risks alone does not resolve the underlying control deficiency.

Question 5 of 58

Compliance departments traditionally provide policy, oversight, and set the standards for monitoring personal dealing.
Which control below would assist in implementing such policies?
Answer choices
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Correct answer: C

Watch lists of restricted stocks help enforce personal dealing policies by identifying securities employees must not trade during sensitive periods. For example, a firm involved in a securities offering may possess non-public information, creating a risk of insider dealing or conflicts of interest. Restricting employee trades in those securities supports compliance monitoring and market integrity. Supplier lists and outsourcing policy writing do not directly control personal trading activity.

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Casper Claassen
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Used this along with Microsoft Learn and the combo worked really well. The practice questions made the stuff I'd read actually stick. Passed first attempt, no complaints from me.
Gabriele Ghesla
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Charles Sirois
Canada
As this was my first certification exam, I was understandably nervous about what to expect. These study materials made the preparation process much easier, and many of the questions closely reflected those on the actual exam.
Lance Chambers
United States
Wasted about a month going through the free dump sites scattered all over reddit, half the answers were wrong and the other half were for a version of the exam that doesn't even exist anymore. Eventually gave in and paid the small fee here, and the difference was night and day.
Alisha Kelly
Italy
Honestly, I had already gone through the official documentation quite thoroughly, but still didn't feel fully confident going in. This helped things finally click for me. I realized I knew the material, but just hadn't connected all the pieces yet.
Casper Claassen
Netherlands
Used this along with Microsoft Learn and the combo worked really well. The practice questions made the stuff I'd read actually stick. Passed first attempt, no complaints from me.
Gabriele Ghesla
Italy
The content is accurate and clearly presented, and it's more affordable than competitors. The team has been incredibly responsive whenever I've had an issue, and they've been open to small changes that improve the platform.
Morgan Farmer
United Kingdom
I don't usually leave reviews, but this one felt worth sharing. The questions were quite close to what actually appeared on the exam, more than I expected. I spent about a week going through the material before my test, and it helped me feel more prepared.
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Neil Savage
United States
A very quick response was received via email when a link issue occurred. The study materials provided were high quality and extremely helpful. I was able to complete the test successfully. Many thanks for the excellent support.
Morgan Farmer
United Kingdom
I don't usually leave reviews, but this one felt worth sharing. The questions were quite close to what actually appeared on the exam, more than I expected. I spent about a week going through the material before my test, and it helped me feel more prepared.
Remi Nuyts
United States
Passed ITIL 4 Foundation with 87%. Material was enough by itself.
Archie Hopkins
United States
I had a smooth experience from start to finish. Access was available right away, no technical issues, which made it easy to get started. The content felt relevant and aligned well with what I was looking for.
Nancy Mcbride
United States
Does what it says it does. Content felt solid, nothing confusing to navigate and I didn't run into any weird issues. I been putting off scheduling the exam for a while and going through this gave me enough confidence to finally book it and pass.
Neil Savage
United States
A very quick response was received via email when a link issue occurred. The study materials provided were high quality and extremely helpful. I was able to complete the test successfully. Many thanks for the excellent support.

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