Free GARP FRM-Part-2 Exam Questions

Become GARP Certified with updated FRM-Part-2 exam questions and correct answers

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Total 503 Questions | Updated On: Jan 29, 2026
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Question 1

Which of the following statements regarding risk assessment is most accurate?


Answer: B
Question 2

Within the context of the three lines of defense model, risk champions (or risk specialists) are most likely to be included in which lines?


Answer: C
Question 3

A junior risk analyst at a consulting firm is reviewing the operational arrangements of bilateral netting and central clearing of derivative trades. The analyst examines the following bilateral trades of three firms:• Firm 1’s exposure to Firm 2: AUD 90 million• Firm 2’s exposure to Firm 1: AUD 60 million• Firm 1’s exposure to Firm 3: AUD 12 million• Firm 3’s exposure to Firm 1: AUD 70 million• Firm 2’s exposure to Firm 3: AUD 57 million• Firm 3’s exposure to Firm 2: AUD 0 millionWhich of the following statements is correct?


Answer: C
Question 4

A presentation provided to executive leadership on the top 10 risks an entity is facing should include all of the following except:


Answer: C
Question 5

The Merton model is different from Moody’s-KMV Expected Default Frequency approach in two key areas. Which of the following statements refers to one of those differences?


Answer: C
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Total 503 Questions | Updated On: Jan 29, 2026
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