究極のガイドは2016-FRR最新2023年10月24日時間限定！今すぐダウンロード！
2023年最新のな厳密検証された合格させる2016-FRR試験にはリアル問題と解答
GARP 2016-FRR試験は、リスク管理と規制のコンプライアンスに関する専門知識を実証したい金融専門家の重要な認定試験です。この試験では、幅広いトピックをカバーしており、候補者は金融業界と規制環境を深く理解する必要があります。試験に合格することは、専門能力開発へのコミットメントと職業上の行動の最高水準を示す重要な成果です。
FRRシリーズは、金融リスク管理と規制のさまざまな側面をカバーする包括的な認定プログラムです。このプログラムは、市場リスク、信用リスク、運用リスク、規制コンプライアンスなどの分野で知識とスキルを向上させたいリスクの専門家向けに設計されています。 FRRシリーズは、リスク管理が重要な機能である銀行、金融機関、規制機関、およびその他の組織で働く個人に適しています。
FRR 試験の準備には、多大な時間と労力が必要です。 GARP は、テキストブック、オンラインコース、練習試験を含む学習資料やリソースを提供しています。多くの候補者は、レビューコースに登録することも選択します。これにより、材料をより理解し、試験に向けて準備することができます。FRR 試験は難しいため、候補者は学習に多大な時間と労力を割く準備が必要です。
質問 # 29
An endowment asset manager with a focus on long/short equity strategies is evaluating the risks of an equity
portfolio. Which of the following risk types does the asset manager need to consider when evaluating her
diversified equity portfolio?
I. Company-specific projected earnings and earnings risk
II. Aggregate earnings expectations
III. Market liquidity
IV. Individual asset volatility
- A. II, III
- B. I, IV
- C. I, II, IV
- D. I
正解：A
質問 # 30
Unico Delta stock is trading at $20 per share, its annualized dividend yield is 5% and the 12-month LIBOR is
3%. Given these statistics, the 12-month futures contact will trade at:
- A. $20.04
- B. $40.08
- C. $10.08
- D. $30.04
正解：A
質問 # 31
A bank owns a portfolio of bonds whose composition is shown below.
What is the modified duration of the portfolio?
- A. 2.30
- B. 1.30
- C. 8.5
- D. 0.5
正解：B
質問 # 32
A portfolio consists of two floating rate bonds and one fixed rate bond.
Based on the information below, modified duration of this portfolio is
- A. 4.28
- B. 3.00
- C. 2.64
- D. 4.44
正解：C
質問 # 33
Which one of the following four statements regarding commodity exchanges is INCORRECT?
- A. Customers rarely trade physical commodities with banks.
- B. Banks have no natural direct exposure to commodities.
- C. Commodity markets are mot liquid than debt markets.
- D. Banks trade in OTC contracts primarily to serve clients and facilitate client hedging and lending.
正解：C
質問 # 34
All of the following performance statistics typically benefit country's creditworthiness EXCEPT:
- A. Low unemployment
- B. Low degrees of savings
- C. High degrees of investment
- D. Low inflation
正解：B
質問 # 35
Which one of the following statements accurately describes market risk tolerance?
- A. Market risk tolerance is the minimum loss the bank is willing to bear due to fluctuations in market prices
and rates. - B. Market risk tolerance is the maximum loss in the market value of financial instruments caused by the
failure of the counterparty to meet its obligations. - C. Market risk tolerance is the maximum likely gain in the market value of portfolios over a given period
of time. - D. Market risk tolerance is the maximum loss the bank is willing to bear due to fluctuations in market
prices and rates.
正解：D
質問 # 36
Which one of the following four metrics represents the difference between the expected loss and unexpected
loss on a credit portfolio?
- A. Loss given default
- B. Probability of default
- C. Credit VaR
- D. Modified duration
正解：C
質問 # 37
Which of the following correctly identifies reasons for collecting internal operational risk event and loss
information?
I. Assessing the risk of specific areas of concern.
II. Evaluating risk events and outcomes.
III. Collecting data for capital modeling.
IV. Getting insight into risk events in other firms in the industry.
- A. II and III
- B. I, II and III
- C. I and II
- D. II, III, and IV
正解：B
質問 # 38
An asset and liability manager for a large financial institution has to recognize that retail products ___ include
embedded options, which are often not rationally exercised, while wholesale products ___ carry penalties for
repayment or include rights to terminate wholesale contracts on very different terms than are common in retail
products.
- A. Hardly ever; rarely
- B. Hardly ever; typically
- C. Frequently; rarely
- D. Frequently; typically
正解：D
質問 # 39
To achieve leverage in long positions, a bank can use the following strategy:
I. Securities may be purchased with borrowed funds using a bank loan from the broker.
II. Securities may be borrowed on margin by taking a loan from a broker.
III. Securities may be purchased and used in a repo transaction to generate cash for further security purchases.
IV. The bank may enter into a derivative transaction, such as a total return swap, that requires little to no
collateral but mimics the performance of a long or short position in the underlying instrument.
- A. II, IV
- B. I, II
- C. I, III
- D. I, II, III, IV
正解：D
質問 # 40
Which one of the following four statements about preferred shares is INCORRECT?
- A. Preferred shares represent residual of a corporation after its other liabilities have been paid.
- B. Preferred shares refer to a class of securities that is a cross between equity and debt.
- C. Preferred shares are subordinated to debt.
- D. Preferred shares can be perpetual or have maturities far exceeding debt maturities.
正解：A
質問 # 41
Bank G has a 1-year VaR of USD 20 million at 99% confidence level while bank H has a 1-year VaR of USD
10 million at the same confidence level. Which bank is in a more risky position as measured by VaR?
- A. Bank G is taking twice the risk of bank H as measured by VaR.
- B. Both banks are equally risky since the measurements are with the same confidence level.
- C. Bank H is taking twice the risk of bank G as measured by VaR.
- D. Since the confidence levels are the same we cannot make any conclusions.
正解：A
質問 # 42
What do option deltas measure?
- A. The sensitivity of the option value to the passage of time.
- B. The sensitivity of the option value to changes risk free interest rate.
- C. The rate of change of the option value with respect to changes in the price of the underlying instrument.
- D. The rate of change of the option value with respect to changes in volatility of the underlying instrument.
正解：C
質問 # 43
Which one of the following four model types would assign an obligor to an obligor class based on the risk
characteristics of the borrower at the time the loan was originated and estimate the default probability based on
the past default rate of the members of that particular class?
- A. Dynamic models
- B. Causal models
- C. Credit rating models
- D. Historical frequency models
正解：D
質問 # 44
After entering the securitization business, Delta Bank increases its cash efficiency by selling off the lower risk
portions of the portfolio credit risk. This process ___ risk on the residual pieces of the credit portfolio, and as a
result it ___ return on equity for the bank.
- A. Increases; decreases;
- B. Decreases; increases;
- C. Decreases; increases;
- D. Increases; increases;
正解：D
質問 # 45
DeltaFin wants to develop a control scoring method for its RCSA program. Which of the following statements
regarding scoring methods are correct?
I. DeltaFin can develop a control scoring method that assesses both the design and the performance of the
control.
II. DeltaFin can combine the design and performance scores for each control to produce an overall control
effectiveness score.
III. DeltaFin can use the control performance scores to compute an overall risk severity score.
IV. DeltaFin can determine its own appropriate control scoring method.
- A. II and III
- B. I only
- C. I, II and IV
- D. II, III, and IV
正解：C
質問 # 46
The exercise for an American type option prior to expiration day is virtually certain in the following case:
- A. In the event of a low dividend for an in-the-money put option
- B. In the event of a high dividend for an in-the-money put option
- C. In the event of a low dividend for an in-the-money call option
- D. In the event of a high dividend for an in-the-money call option
正解：D
質問 # 47
Which of the following statements is a key difference between customer loans and interbank loans?
- A. Customer loans are easier to sell than interbank loans
- B. Interbank loans are more customized than commercial loans
- C. Customer loans are of shorter duration than interbank loans
- D. Customers are less credit-worthy than banks on average and hence yields are higher on average for
customer loans as compared to interbank loans
正解：D
質問 # 48
A trader for EtaBank wants to take a leveraged position in Collateralized Debt Obligations. If these CDOs can
be used in a repo transaction at a 20% haircut, what is the maximum leverage factor for a transaction with the
CDOs?
- A. 1.5
- B. 0.8
- C. 0
- D. 1
正解：D
質問 # 49
To hedge a foreign exchange exposure on behalf of a client, a small regional bank seeks to enter into an
offsetting foreign exchange transaction. It cannot access the large and liquid interbank market open primarily
to larger banks. At which one of the following exchanges can the smaller bank trade the currency futures
contracts?
I. The Tokyo Futures Exchange
II. The Euronext-Liffe Exchange
III. The Chicago Mercantile Exchange
- A. I, II, III
- B. III
- C. I
- D. II, III
正解：A
質問 # 50
Which one of the following four statements presents a challenge of using external loss databases in the
operational risk framework?
- A. External events are usually not of interest to senior management.
- B. Use of benchmarked data reflects similar data collection standards.
- C. If the external data is gathered from news sources, it may only reflect events that are interesting to the
press. - D. They provide a source of data on what operational loss events will occur.
正解：C
質問 # 51
To protect the oranges harvest price level, a farmer needs to take a hedge position. Provided that he produces
the amount he hedged, which one of the following four strategies will allow the farmer to accomplish his goal?
- A. Negotiating a credit line facility
- B. Going short on oranges futures contracts
- C. Going long on oranges futures contacts
- D. Entering into a customized forward contract with the bank
正解：B
質問 # 52
An options trader is assessing the aggregate risk of her currency options exposures. As an options buyer, she
can potentially ___ lose more than the premium originally paid. As an option seller, however, she has a ___
risk on the contract and always receives a premium.
- A. Never, unlimited
- B. Sometimes, limited
- C. Sometimes, unlimited
- D. Never, limited
正解：A
質問 # 53
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