GARP ICBRR Actual Tests : International Certificate in Banking Risk and Regulation (ICBRR)

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GARP ICBRR Exam Syllabus Topics:

GARP International Certificate in Banking Risk and Regulation (ICBRR) Sample Questions:

Question 1

ThetaBank has extended substantial financing to two mortgage companies, which these mortgage lenders use to finance their own lending. Individually, each of the mortgage companies has an exposure at default (EAD) of $20 million, with a loss given default (LGD) of 100%, and a probability of default of 10%. ThetaBank's risk department predicts the joint probability of default at 5%. If the default risk of these mortgage companies were modeled as independent risks, what would be the probability of a cumulative $40 million loss from
these two mortgage borrowers?

A. 0.1%
B. 0.01%
C. 10%
D. 1%

Question 2

What are some of the drawbacks of correlation estimates? Which of the following statements identifies major problems with correlation calculations?
I. Correlation estimates are not able to capture increases in factor co-movements in extreme market scenarios.
II. Correlation estimates tend to be unstable.
III. Historical correlations may not forecast future correlations correctly.
IV.
Correlation estimates assume normally distributed returns.

A. I, II and III
B. I and II
C. II, III, and IV
D. I and IV

Question 3

The pricing of credit default swaps is a function of all of the following EXCEPT:

A. Probability of default
B. Loss given default
C. Market spreads
D. Duration

Question 4

Which one of the following four statements correctly defines a typical carry trade?

A. A bank borrows funds in a low-interest currency, accumulates reserves, and lends in another low-interest currency.
B. A bank borrows funds in a high-interest currency and invests the funds into high-yield emerging market debt.
C. A bank borrows funds in a high-interest currency and places the funds in a long-term low volatility investment vehicle.
D. A bank borrows funds in a low-interest currency and places the funds on deposit in a high-interest currency.

Question 5

Which of the following factors are typically included in standard operational risk definitions?
I. Human errors
II. Process failure
III. Systems failure
IV.
Unexpected events

A. II and III
B. I, II and III
C. I and II
D. I and IV

Solutions: