FRM考試真題是備考中的考生必做的，考生一定要做一定的量。下面是對(duì)相關(guān)真題解析的介紹，希望對(duì)備考中的你有所幫助！

You are the head of the Independent Risk Oversight (IRO) unit of XYZ bank, Your first task is to review the following existing polices relating to model implementation.

I. The remuneration of the staff of the IRO unit is dependent on how frequently the traders of XYZ bank use models vetted by the IRO.

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II. Model specifications assume that markets are perfectly liquid. Which of the existing policies are sources of model risk?

A) Statement I only

B) Statement II only

C) Both statements are correct

D) Both statements are incorrect

答案：B

解析：I. Incorrect. Even though this is a risk that can increase exposure to model risk, the policy itself is regarding compensation and not the model itself. II. Correct. This assumption can lead to major error where market liquidity is limited.

Which of the following actions could worsen rather than reduce model risk?

A) Require documentation of the model so that the risk manager can produce the same prices as the user of the model.

B) Use a simulation benchmark model to assess a model that has a closed-form solution.

C) Make the model for the dynamics of the underlying fit past data better by making the price of the underlying depend on additional variables.

D) Plot model prices against parameter values.

答案：C

解析：The other three are procedures that help to monitor the model and can help to reduce model risk.

The role of senior managers in managing model risk includes all of the following except掃碼領(lǐng)取

A) Becoming expert modelers.

B) Establishing an organizational framework that implements sound risk management procedures.

C) Questioning model features.

D) Understanding the fundamentals of model risk.

答案：A

解析: Senior managers need not be expert modelers, but they do need to understand the fundamentals of model risk so that they can ask the right questions and implement sound risk management procedures.

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