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A bank extends a loan of $1m to a home buyer to buy a house currently worth $1.5m, with the house serving as the collateral. The volatility of returns (assumed normally distributed) on house prices in that neighborhood is assessed at 10% annually. The expected probability of default of the home buyer is 5%.What is the probability that the bank will recover less than the principal advanced on this loan; assuming the probability of the home buyer's default is independent of the value of the house?
Which of the following statements are true?1. Retail Risk Based Pricing involves using borrower specific data to arrive at both credit adjudication and pricing decisions2. An integrated 'Risk Information Management Environment' includes two elements - people and processes3. A Logical Data Model (LDM) lays down the relationships between data elements that an organization stores4. Reference Data and Metadata refer to the same thing
For a group of assets known to be positively correlated, what is the impact on economic capital calculations if we assume the assets to be independent (or uncorrelated)?
Which of the following statements are true:1. Heavy tailed parametric distributions are a good choice for severity modeling in operational risk.2. Heavy tailed body-tail distributions are a good choice for severity modeling in operational risk.3. Log-likelihood is a means to estimate parameters for a distribution.4. Body-tail distributions allow modeling small losses differently from large ones.
Which loss event type is the loss of personally identifiable client information classified as under the Basel II framework?
A stock that follows the Weiner process has its future price determined by:
Which of the following contributed to the systemic failure during the credit crisis that began in 2007?
If the default hazard rate for a company is 10%, and the spread on its bonds over the risk free rate is 800 bps, what is the expected recovery rate?
Which of the following decisions need to be made as part of laying down a system for calculating VaR:1. How returns are calculated, eg absoluted returns, log returns or relative/percentage returns2. Whether VaR is calculated based on historical simulation, Monte Carlo, or is computed parametrically3. Whether binary/digital options are included in the portfolio positions4. How volatility is estimated
Which of the following is not a tool available to financial institutions for managing credit risk:
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