PRMIA-8020 Exam Information and Outline
Operational Risk Management Certificate
PRMIA-8020 Exam Syllabus & Study Guide
Before you start practicing with our exam simulator, it is essential to understand the official PRMIA-8020 exam objectives. This course outline serves as your roadmap, breaking down exactly which technical domains and skills will be tested. By reviewing the syllabus, you can identify your strengths and focus your study time on the areas where you need the most improvement.
The information below reflects the latest 2026 course contents as defined by PRMIA. We provide this detailed breakdown to help you align your preparation with the actual exam format, ensuring there are no surprises on test day. Use this outline as a checklist to track your progress as you move through our practice question banks.
Below are complete topics detail with latest syllabus and course outline, that will help you good knowledge about exam objectives and topics that you have to prepare. These contents are covered in questions and answers pool of exam.
Number of Questions: The exam consists of 60 multiple choice questions.
Time Allotted: Candidates have 2 hours to complete the exam.
Passing Marks: Candidates must achieve a score of 60% or higher to pass the exam.
Exam Format: The exam is computer-based- offered in English only- and can be taken at Pearson VUE testing centers or through online proctoring.
Retake Policy: If a candidate fails- they must wait 90 days before retaking the exam- and a retake fee applies.
Exam Question Format: All questions are multiple choice with four possible responses.
No breaks are allowed during the exam- but the system allows marking and reviewing questions as long as time remains.
Introduction (3%)
- Role of risk management in post-crisis financial services.
- Overview of risk management frameworks.
- Integration of ESG/Climate Risk.
- Embedding risk best practices in organizations.
Risk Governance (10%)
- Origins and principles of corporate governance.
- Risk governance principles and structures.
- Roles and responsibilities (e.g.- Board of Directors- Chief Risk Officer (CRO)- wider reporting lines).
- The risk management process.
- Developments in risk governance post-financial crisis.
Risk Management Framework (17%)
- Defining and assessing risk capacity.
- Establishing risk appetite statements.
- Developing risk policies and procedures.
- Risk pricing mechanisms.
- Fostering risk culture.
- Key elements for implementing frameworks in the workplace.
Risk Assessment (17%)
- Full lifecycle of risk assessment.
- Top-down vs. bottom-up assessment approaches.
- Identifying operational risk issues and vulnerabilities.
- New product risk assessment processes.
- Managing risks from third-party services and outsourcing.
Risk Information (17%)
- Capturing and analyzing operational risk events.
- Developing and using Key Risk Indicators (KRIs).
- Conducting loss investigations and root cause analysis.
- Risk reporting frameworks and dashboards.
- Building a comprehensive KRI framework.
Compliance Risk (10%)
- Defining compliance risk and its scope.
- Drivers of change in compliance (e.g.- regulatory evolution).
- Types of compliance risks (codified vs. non-codified).
- Key topics: consumer protection- financial crime- systemic risks.
- Enterprise-wide controls for compliance.
- Managing conduct and culture risks.
Operational Risk Capital (10%)
- Relationship between capital and risk modeling.
- Approaches to operational risk capital calculation.
- Evolution of operational risk capital under Basel III.
- Advanced Measurement Approaches (AMA) for capital.
Operational Resilience (7%)
- Defining operational resilience and its importance.
- Regulatory developments (e.g.- Digital Operational Resilience Act - DORA).
- Operational resilience processes: identification- testing- and response.
Case Studies (10%)
- Application of concepts to real-world scenarios from PRMIA Case Studies (available at https://prmia.org/Public/Certificate/ORM_Certificate/ORM_Case_Studies_and_Standards.aspx).
- Analysis of operational risk incidents- governance failures- and resilience challenges in financial institutions.