PRMIA Exam II: Mathematical Foundations of Risk Measurement - 2015 Edition : 8007

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PRMIA 8007 Exam Syllabus Topics:

PRMIA Exam II: Mathematical Foundations of Risk Measurement - 2015 Edition Sample Questions:

1. Let X be a random variable distributed normally with mean 0 and standard deviation 1. What is the expected value of exp(X)?

A) E(exp(X)) = 0.6065
B) E(exp(X)) = 2.7183
C) E(exp(X)) = 1
D) E(exp(X)) = 1.6487

2. Which of the following can be used to evaluate a regression model?
(i) Magnitude of R2
(ii) Magnitude of TSS (total sum of squares)
(iii) Tests for statistical significance
(iv) Sign and magnitude of each regression parameter

A) (i), (ii), and (iii)
B) (i), (iii), and (iv)
C) (i), (ii), (iii), and (iv)
D) (i) and (iv)

3. Consider a binomial lattice where a security price S moves up by a factor u with probability p, or down by a factor d with probability 1 - p. If we set d > 1/u then which of the following will be TRUE?

A) None of the above
B) The lattice will not recombine
C) There will always be a downward drift in the lattice
D) The probability of an up move will not be constant

4. At what point x does the function f(x) = x3 - 4x2 + 1 have a local minimum?

A) 2
B) 0
C) 2.66667
D) -0.666666667

5. Simple linear regression involves one dependent variable, one independent variable and one error variable. In contrast, multiple linear regression uses...

A) One dependent variable, one independent variable, many error variables
B) Many dependent variables, many independent variables, many error variables
C) Many dependent variables, one independent variable, one error variable
D) One dependent variable, many independent variables, one error variable

Solutions: