Topic 55: Basel I, Basel II, and Solvency II Test ID: 9500896

Question #1 of 76 Question ID: 440367

Market discipline is mainly addressed in Basel II through the mechanism of the disclosure of:

A) proprietary banking operations.

B) timely and relevant information about banking operations and activities.
C) competitive-sensitive internal operations.
D) all credit-risk exposures.

Question #2 of 76 Question ID: 440362

Which of the following does the supervisory pillar of Basel II NOT intend to provide?

A) required capital adjusted for institutional differences.

B) clear signals to the market resulting from risk models.
C) a clear interpretation of the results of the analytical models.
D) clear signals on a bank's market valuation.

Question #3 of 76 Question ID: 440366

Which of the following pairs correctly identifies an activity and its associated Pillar under the Basel II Accord?

Activity Pillar

A) Capital calculation Second

B) Second and
Market discipline
third

C) External review First

D) Required disclosures Third

Question #4 of 76 Question ID: 440365

Which of the following is a concern about the implementation of the supervisory and market discipline pillars of Basel II?

A) Accounting standards foster inconsistent evaluations by bond raters.

B) Supervision, not analytics will determine the required capital for each bank.
C) Studies suggest VAR measures do not provide useful information for valuation.

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 D) More than one of the above.

Question #5 of 76 Question ID: 440390

Under the IRB approach of the Basel II Accord, an unexpected loss:

A) should be covered by loan loss provisions and interest margins.

B) should be part of the probability of default (PD) calculation.
C) might occur as a result of an economic downturn.
D) can be avoided by using historical default rates to estimate losses.

Question #6 of 76 Question ID: 440428

The balance sheet for James Bankholdings as of December 31, 2004 included the following items ($000):

Preferred Stock (noncumulative) $800,000

Common Stock $1,200,000
Retained Earnings $3,000,000
Unrealized gains on long term Equity holdings $750,000

Based only on this information, estimate the Tier 1 and Tier 2 capital of James Bankholdings as of 12/31/04 (use $000):

Tier 1 Tier 2

A) $4,200,000 $800,000

B) $5,000,000 $0

C) $5,000,000 $750,000

D) $4,200,000 $1,550,000

Question #7 of 76 Question ID: 440399

Capital requirements under IRB approaches will increase in which of the following manners?

A) Linearly with both PD and concavely with LGD.

B) Concavely with PD and linearly with LGD.
C) Concavely with both PD and LGD.
D) Linearly with both PD and LGD.

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Question #8 of 76 Question ID: 440395

Which of the following assets requires a 0 percent risk weighting according to the Basel Accord?

A) Residential mortgages.
B) Cash.
C) Industrial real estate investments.
D) Cash receivables.

Question #9 of 76 Question ID: 440431

What is the best definition of Tier 1 regulatory capital?

A) Subordinated debt and undisclosed reserves.

B) Long-term debt and revaluation reserves.
C) Equity capital, retained earnings, and disclosed reserves.
D) Equity capital and subordinated debt with a maturity greater than 5 years.

Question #10 of 76 Question ID: 440396

The advanced internal ratings based (IRB) approach to calculating risk weights differs from the foundation IRB approach in that
the advanced approach:

A) allows for internal estimates of loss given default (LGD) and exposure at default (EAD).
B) allows for internal estimates of probability of default (PD) and exposure at default (EAD).
C) offers less flexibility in estimating risk parameters.
D) relies on external estimates for most risk parameters.

Question #11 of 76 Question ID: 440398

Under Basel II, the options available to a bank for calculating credit risk include:
I. Reputational risk approach (RRA).
II. Market discipline approach (MDA).
III. Standardized approach (SA).
IV. Advanced IRB approach (AIRB).

A) I and II.

B) I and IV.
C) III and IV.
D) II and III.

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Question #12 of 76 Question ID: 440417

Which of the following approaches to calculating the operational risk capital charge is a top down approach that uses differing
beta factors between 12 to 18% as a charge on income for specific business lines?

A) Standardized approach.
B) Internal ratings approach.
C) Basic approach.
D) Advanced measurement approach.

Question #13 of 76 Question ID: 440382

Which of the following are NOT conditions for the IRB credit risk weight function?

A) All idiosyncratic risk is diversified away.

B) Expected and unexpected losses are covered by capital.
C) Calculation of risk weights should be independent of the specific portfolio.
D) The model includes a single market risk factor.

Question #14 of 76 Question ID: 440386

Under the Basel II Accord, the standardized approach to credit risk weighting requires all of the following EXCEPT:

A) sovereign credit risks must receive the same risk weighting as corporate credits domiciled in that
sovereign.
B) risk exposures with no external weighting must receive a risk weighting of 100%.
C) past-due loans must receive a credit risk weighting of 150%.
D) wherever possible, risk weights must be based on external risk assessments.

Question #15 of 76 Question ID: 440385

The Internal Assessment Approach (IAA) for calculating capital requirements for securitized assets is:

A) acceptable as a means of addressing the risk of unrated assets.

B) entirely independent of any external rating system.
C) available to any bank using IRB risk weighting methods.
D) the most common way for banks to determine the capital required for securitized assets.

Question #16 of 76 Question ID: 440363

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The main purpose of the Basel II Accord's Second Pillar is to ensure:

A) that banks maintain an appropriate level of capital to cover market risks.

B) competitive equality among internationally active bank holding companies.
C) increased transparency for all banking system participants.
D) that the internal review process appropriately assesses capital adequacy.

Question #17 of 76 Question ID: 440408

The most data intensive approach to assessing regulatory capital for operational risk is the:

A) advanced measurement approach.

B) basic indicator approach.
C) foundation internal ratings based approach.
D) standardized approach.

Question #18 of 76 Question ID: 440419

The Amendment to the Capital Accord defines the yellow zone as the following range of exceptions out of 250 observations:

A) 6 to 9.
B) 6 to 10.
C) 3 to 7.

D) 5 to 9.

Question #19 of 76 Question ID: 440407

One criticism of the BIS definition of operational risk is that it does not directly address:

A) human mistakes.
B) risk of natural disaster.

C) strategic or reputational risk.

D) risk of inadequate or failed processes.

Question #20 of 76 Question ID: 440410

Regulators have proposed several approaches to determining a bank's operational risk exposure. One approach which would
allow each bank to use its own internal loss data to calculate the capital charge is the:

A) advanced measurement approach.

B) internal factor approach.

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 C) proprietary risk approach.
D) basic indicator approach.

Question #21 of 76 Question ID: 440377

The Basel II Capital Accord is most likely to be seen as an improvement over the 1988 Basel I Accord because the Basel II
Accord:

A) imposes stricter guidelines for calculating credit risk.

B) increases the minimum capital ratio requirement.
C) specifically addresses market risk considerations.
D) includes consideration of operational risk.

Question #22 of 76 Question ID: 440403

Under the internal ratings based framework, what confidence level must be used when calculating Value at Risk (VaR)?

A) 99.99%.
B) 99.5%.
C) 99.9%.

D) 99%.

Question #23 of 76 Question ID: 440411

An approach to assessing regulatory capital for operational risk that bases the capital charge upon a fixed percentage of some
measure (e.g., gross income) of operational risk exposure is the:

A) basic indicator approach.

B) standardized approach.

C) internal measurement approach.

D) loss distribution approach.

Question #24 of 76 Question ID: 440430

Tier 3 capital can be used to satisfy capital requirements resulting from:

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 A) only certain types of credit-risk charges.
B) market-risk charges only.
C) credit-risk charges only.
D) market-risk and credit-risk charges.

Question #25 of 76 Question ID: 440406

Basel II allows which of the following options for the calculation of operational risk?
I. Standardized risk.
II. Foundation IRB approach.
III. Basic indicator approach.

A) I, II, and III.

B) II and III only.
C) I and III only.
D) I only.

Question #26 of 76 Question ID: 440364

Pillar III of the Basel II accord includes all of the following requirements for internationally active banks EXCEPT:

A) there should be specific remedial actions in the event of nondisclosure.

B) financial statements that fairly reflect financial condition should be published regularly.
C) a formal disclosure policy should be established, and supported by a bank's board of directors.

D) banks should operate above minimum regulatory capital ratios.

Question #27 of 76 Question ID: 440409

The Basel II Accord recommends basic methods for assessing operational risk that estimate the risk by:

A) multiplying annual gross income by a set percentage.

B) adjusting the required capital by a fixed percentage of total bank assets.
C) applying a floating percentage to operating assets based on their risk profiles.
D) adding a premium to the credit risk measures used by the bank.

Question #28 of 76 Question ID: 440427

Tier 1 capital is composed of all of the following EXCEPT:

A) minority equity interest.

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 B) common equity.
C) cumulative perpetual shares.
D) non-cumulative perpetual shares.

Question #29 of 76 Question ID: 440388

Under the IRB approach to credit risk, a bank that originates a securitization and retains a first loss position in that securitization
must:

A) apply a higher risk weight to the position.

B) deduct the position from capital if it is of low credit quality.
C) deduct this position from capital.
D) rid itself of the position within 90 days.

Question #30 of 76 Question ID: 440412

Under the basic indicator approach to measuring operational risk capital proposed in the New Basel Accord, a bank will hold
capital for operational risk equal to a fixed percentage of the bank's:

A) average market risk and credit risk capital over the prior three years.
B) market risk capital in the previous year.
C) average annual revenues over the prior two years.

D) average annual gross income over the prior three years.

Question #31 of 76 Question ID: 440359

Market discipline is mainly addressed in Basel II through the disclosure mechanism of:

A) timely and relevant banking operations and activities.

B) proprietary banking operations.

C) competitive-sensitive internal operations.

D) credit-risk exposures.

Question #32 of 76 Question ID: 440368

To ensure minimal capital adequacy, Basel II suggests supervisors:

A) provide opportunities for increased dividend payments.

B) restrict overly generous dividend payments.
C) recommend sources of additional capital.

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 D) reduce monitoring intensity.

Question #33 of 76 Question ID: 440455

Solvency II and its associated solvency capital requirements consider various types of risk all related to underwriting. Which of
the following items is least likely to be included as one of these risk types?

A) Liquidity risk.
B) Operational risk.
C) Market risk.
D) Life and health risks.

Question #34 of 76 Question ID: 440381

The first Basel Accord:

A) was created in 1978 by the Bank for International Settlements (BIS).

B) had fairly stringent guidelines for calculating market risk which did not accurately reflect the true risk
to capital.

C) did not include any consideration of operational risk.

D) failed to address new and innovative risk management vehicles and methods for managing market
risk.

Question #35 of 76 Question ID: 440405

A bank that wishes to adopt a framework for determining regulatory operational risk capital must meet the most stringent criteria if
it wants to adopt the:

A) Basic indicator approach (BIA).

B) Standardized approach (SA).

C) Advanced standardized approach (ASA).

D) Advanced measurement approach (AMA).

Question #36 of 76 Question ID: 440393

Under Basel II, if a bank uses the internal ratings-based (IRB) foundation approach for the calculation of credit risk, the bank
uses:

A) external estimates of default probabilities and internal estimates for other model inputs.
B) internal estimates of default probabilities and internal estimates for other model inputs.
C) external estimates of default probabilities and external estimates for other model inputs.

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 D) internal estimates of default probabilities and external estimates for other model inputs.

Question #37 of 76 Question ID: 440433

What is the overall limit on Tier 2 Capital? Tier 2 Capital is limited to:

A) 100% of Tier 1 Capital.

B) 75% of Tier 1 Capital.
C) 50% of Tier 1 Capital.
D) 150% of Tier 1 Capital.

Question #38 of 76 Question ID: 440426

Tier 1 and tier 2 capital requirements differ from tier 3 capital requirements in that tier 1 and tier 2 are associated with:

A) market-risk charges.
B) exchange-risk charges.
C) interest-rate risk charges.
D) credit-risk charges.

Question #39 of 76 Question ID: 440379

Which of the following is NOT one of the three pillars of the new Basel Capital Accord (Basel II)?

A) Public disclosure.
B) Reduced regulatory burden.
C) Supervisory review of capital adequacy.
D) Minimum capital requirements.

Question #40 of 76 Question ID: 440402

Under the internal-ratings based (advanced) approach, which of the following parameters are permitted to be estimated by the
institution itself?
I. Effective maturity.
II. Probability of default.
III. Exposure at default.
IV. Loss given default.

A) I, II and IV.
B) III and IV.

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 C) I and II.
D) I, II, III and IV.

Question #41 of 76 Question ID: 440391

The standardized approach to estimating the risk arising from asset securitization:

A) is more commonly known as the external Ratings-Based Approach (RBA).

B) has stricter requirements than the IRB approach for transferring of risk through securitization.
C) treats securitized assets consistently regardless of credit rating until a default occurs.
D) requires a reduction of capital for unrated positions.

Question #42 of 76 Question ID: 440369

James Haggerty is a bank supervisor responsible for the oversight of UrbanGroup, a large banking conglomerate. UrbanGroup
determines its credit risk profile according to the foundation IRB approach and assesses operational risk according to the
standardized approach as described in the Basel II Capital Accord. Which of the following are specific issues that should be
addressed as part of Haggerty's supervisory review process of UrbanGroup?

I. Review the bank's internal control systems.

II. Check compliance with transparency requirements as described in Pillar 3 of the Basel II Accord.
III. Make sure that the bank is using LGD and EAD inputs for its retail exposures that are in compliance with
supervisory estimates.
IV. Evaluate the impact of interest rate risk by assessing the impact of a 100 basis point interest rate shock to
the bank's capital position.

A) I, II, III, and IV.

B) I and II only.
C) III and IV only.

D) I, II, and III only.

Question #43 of 76 Question ID: 440360

Risk measurement procedures under the Basel II Accord take on an "evolutionary aspect" in that:

A) stricter adherence to standardized risk assessment procedures will allow banks more flexibility to
take on non-traditional risks.
B) less conservative risk measures such as downturn loss given default (LGD) will allow banks to take
on more risky strategies.
C) enhanced supervisory control will lead to more consistent risk assessment and more comparable
bank risk profiles.

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 D) banks should be able to use their own internal risk assessments to improve accuracy in assessing
their risk exposure.

Question #44 of 76 Question ID: 440384

Basel II does NOT allow calculation of risk-based capital under the:

A) standardized approach.
B) external probability approach.
C) internal ratings-based foundation approach.
D) internal ratings-based advanced approach.

Question #45 of 76 Question ID: 440418

Why is backtesting performed? To:

A) shock the portfolio with large market moves.

B) compare historical and implied volatilities.
C) estimate statistical parameters.

D) check the validity of VAR models.

Question #46 of 76 Question ID: 440413

The Basel Committee suggests that the "risk of direct or indirect loss resulting from inadequate or failed internal processes,
people, and systems or from external events" should be included in a bank's regulatory capital calculations. The committee is
referring to:

A) operational risk.
B) credit risk.

C) operational, market, and credit risk.

D) market risk.

Question #47 of 76 Question ID: 440420

If a supervisory VAR backtest for a 1-year period (i.e., 250-day testing period) results in 6 exceptions, then the bank's exposure
would be classified as:

A) Yellow zone, and an exposure multiplier between 3.4 and 3.85 would be applied.
B) Green zone, and an exposure multiplier of 0 would be applied.
C) Yellow zone, and an exposure multiplier of 3 would be applied.

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 D) Red zone, and an exposure multiplier of 4 would be applied.

Question #48 of 76 Question ID: 440414

The Standardized Approach to operational risk links a:

A) static proportion to a dynamic risk indicator variable.

B) dynamic proportion to a dynamic risk indicator variable.
C) static proportion to a static risk indicator variable.
D) dynamic proportion to a static risk indicator variable.

Question #49 of 76 Question ID: 440378

The Basel Capital Accord applies to which of the following entities?

A) All internationally active commercial banks.

B) All banks and securities firms in the G-10 countries plus Luxembourg.
C) Banks regulated by the Swiss banking regulatory authorities.
D) National banks chartered in the United States.

Question #50 of 76 Question ID: 440425

Tier 3 capital is allowed by the Basel Accord to cover:

I. legal risks.
II. credit risks.
III. market risks.
IV. operational risks.

A) I, II, and IV.

B) III only.
C) II and III only.
D) I and II only.

Question #51 of 76 Question ID: 440422

Which of the following procedures is essential in validating the VAR estimates?

A) Scenario analysis.
B) Back testing.

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 C) Stress testing.
D) Factor push analysis.

Question #52 of 76 Question ID: 440401

Under the internal ratings-based (foundation) approach, which of the following parameter(s) is (are) permitted to be estimated by
the institution itself?
I. Probability of default.
II. Loss given default.
III. Exposure at default.
IV. Effective maturity.

A) III and IV.

B) I and II.
C) I only.
D) I and IV.

Question #53 of 76 Question ID: 440361

For calculating credit risk, the evolutionary aspect behind the Basel II Accord's Pillar 1 is associated with moving from the:

A) internal ratings-based (IRB) approach to the standardized approach.

B) advanced approach to the internal ratings-based (IRB) approach.
C) standardized approach to the internal ratings-based (IRB) approach.

D) foundation approach to the standardized approach.

Question #54 of 76 Question ID: 440454

With regard to insurance and banking regulations, which set of regulations focuses more on systemic risk?

A) Basel II/III.
B) Solvency II.
C) Basel I.
D) Solvency I.

Question #55 of 76 Question ID: 440394

An approach to assessing regulatory capital for operational risk that bases the capital charge upon a fixed percentage of an
indicator (gross income) of operational risk exposure, where the percentage differs across business lines is the:

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 A) loss distribution approach.
B) standardized approach.
C) internal measurement approach.
D) basic indicator approach.

Question #56 of 76 Question ID: 440415

Under Basel II, regulatory capital charge for operational risk can be calculated using:

A) Market Discipline Approach (MDA).

B) Minimum capital Requirements Approach (MCRA).
C) Basic Indicator Approach (BIA).
D) Reputational Risk Approach (RRA).

Question #57 of 76 Question ID: 440373

The Second Pillar of the Basel II Accord requires that banking supervisors do all of the following EXCEPT:

A) intervene as soon as capital requirements fall below required levels.

B) verify that banks are conducting stress tests to identify events that could potentially impair their
capital position.

C) restrict bank dividend payments if necessary to ensure capital adequacy.

D) set targets for operational definitions of risk parameters and exposure ratios.

Question #58 of 76 Question ID: 440371

Which of the following bad bank behaviors at emerging market banks may result from the implementation of Basel II?

I. Underestimation of risk and required capital for emerging market banks.

II. Increased pro-cyclical lending.
III. Tendency to not switch to advanced risk measurement methodologies.

A) I and II.
B) I, II, and III.
C) II and III.
D) I and III.

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Question #59 of 76 Question ID: 440423

The capital charge for market risk is based on the maximum of the average VAR for the preceding 60 days or:

A) the capital charge for the previous period.

B) the VAR for the preceding business day.
C) 3.62% of the asset value.
D) the projected VAR for the next period.

Question #60 of 76 Question ID: 440397

Which of the following statements regarding capital estimation, risk, and potential short comings of Basel II are CORRECT?
I. For regulatory capital estimation purposes, market risks include equity, interest rate, foreign exchange, credit, commodity,
and option risks.
II. Under the basic indicator approach (BIA), a bank is required to hold capital for operational risk equal to a fixed percentage of
average annual gross income for the previous year.
III. Inability to secure collateral is an example of a residual risk.
IV. Critics argue that the Basel II Accord may contribute heavily to pro-cyclical behavior by banks.

A) III and IV.

B) I and III.
C) I and II.
D) II and III.

Question #61 of 76 Question ID: 440392

Under the new Basel Capital Accord there are two IRB approaches, foundation and advanced, to calculating risk weights in
determining a bank's minimum capital requirement for credit risk. For which of the following types of exposures is the foundation
approach precluded?

A) Bank exposures.
B) Sovereign exposures.
C) Corporate exposures.
D) Retail exposures.

Question #62 of 76 Question ID: 440387

The advanced IRB approach to calculating risk weights for corporate, sovereign, and bank exposures requires the bank to abide:

A) only by supervisory-set LGD.

B) by supervisory-set documentation requirements.
C) only by supervisory-set probabilities of default (PD).

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 D) by supervisory-set PD and losses given default (LGD).

Question #63 of 76 Question ID: 440421

According to the Basel Accord, if the number of exceptions to the back-testing of value at risk (VAR) models exceeds four at the
99 percent confidence level, which of the following may occur (given 250 data points)?

A) Banks may ignore the model for future VARs.

B) Regulators may increase the multiplier.
C) Risk managers may be decertified.
D) Regulators may decrease the multiplier.

Question #64 of 76 Question ID: 440404

Which of the following parameters is (are) allowed to be estimated by the institution when calculating the capital requirements for
an asset securitization?
I. Probability of default.
II. Loss given default.
III. Exposure at default.
IV. Effective maturity.

A) None of these.
B) I and II.
C) I, II, III and IV.
D) I only.

Question #65 of 76 Question ID: 440429

Which of the following securities is included in Tier 1 capital?

I. Common equity.
II. Subordinated debt.
III. Hybrid instruments.
IV. Cumulative perpetual preferred stock.

A) I and II only.
B) I, II, III, and IV.
C) I only.
D) I and IV only.

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Question #66 of 76 Question ID: 440400

Under the standardized approach, the risk weight for Sovereigns and their Central Banks with a credit rating below B− is what
percentage?

A) 100%.
B) 125%.
C) 150%.
D) 175%.

Question #67 of 76 Question ID: 440389

Under the Basel II Capital Accord, the standardized approach to credit risk requires that loans considered past due be risk
weighted at:

A) 100%.
B) 200%.
C) 150%.
D) 80%.

Question #68 of 76 Question ID: 440432

Which of the following is NOT a requirement of Tier 3 capital?

A) Unsecured subordinated debt.

B) Debt must have a covenant to protect the ability to preserve the capital requirement.
C) Short-term, not long-term.

D) Issued with a maturity of at least 3 years.

Question #69 of 76 Question ID: 440262

The standard procedure for credit and operational risk is to specify the Economic Capital as:

A) Value-at-Risk plus Expected Loss.

B) Value-at-Risk minus Expected Loss.
C) Value-at-Risk.
D) Value-at-Risk divided by Expected Loss.

Question #70 of 76 Question ID: 440370

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Which of the following are incentives for bad bank behavior resulting from the implementation of Basel II?

I. Risk calibration reduces tendency to switch to advanced risk measurement models.

II. Banks are encouraged to lend more in good economies and less in bad economies.
III. Banks may manage the output of their risk measurement systems as it may have firm-wide implications.

A) II only.
B) I and III.
C) I only.
D) II and III.

Question #71 of 76 Question ID: 440358

All the statements with respect to bank capital under Basel II are correct EXCEPT:

A) Tier 1 capital is equal to shareholders' equity (common stock outstanding, nonredeemable and
noncumulative outstanding preferred stocks), plus after tax retained earnings.
B) Tier 1 capital can be used without limitations to meet capital requirements of bank risks.
C) short-term subordinated debt (Tier 3 capital) can only be used to meet capital requirements related to
operational risk.

D) cumulative preferred stock is a component of Tier 2 capital.

Question #72 of 76 Question ID: 440372

Which of the Basel II Pillars of sound bank management focuses on market discipline?

A) Pillar 1.
B) Pillar 4.
C) Pillar 3.
D) Pillar 2.

Question #73 of 76 Question ID: 440383

For banks that use the advanced internal ratings-based (advanced IRB) approach to credit risk, the primary inputs to the capital
calculations are:

A) credit assessments of external rating agencies.

B) the banks' internal assessments of key risk drivers.

C) mandated by bank supervisors.
D) interest rates.

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Question #74 of 76 Question ID: 440416

Which of the following is NOT a type of operational risk as defined by Basel II?

A) Human error and internal fraud.

B) Destruction by fire or other external catastrophes.
C) Damaged reputation due to a failed merger.
D) Failure or breakdown in internal control processes.

Question #75 of 76 Question ID: 440424

The standardized model for market risk charges differs from the internal models approach in that the standardized model:

A) focuses solely on specific risk charges, whereas the internal model approach sums up market risks
across market-risk categories.
B) sums up market risks across market risk categories, whereas the internal model approach focuses
solely on specific risk charges.
C) sums up market risks across market risk categories, whereas the internal model approach uses a
penalty multiplier on the average VAR.
D) uses a penalty multiplier on the average VAR, whereas the internal model approach sums up market
risks across market risk categories.

Question #76 of 76 Question ID: 440380

The Basel II Accord:

A) has Pillar II entitled "Minimum Capital Requirements".

B) is designed to apply to all internationally active banks.
C) has Pillar I entitled "Market discipline".
D) has Pillar III entitled "Supervisory Review Process".

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