100% Free PRMIA 8013 Practice Test Questions and Answers 2026

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Total 290 Questions | Updated On: May 24, 2026

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Question 1

Which of the following portfolios would require rebalancing for delta hedging at a greater frequency in order to maintain delta neutrality?

A : A portfolio with a low delta and high vega

B : A portfolio with a high gamma

C : A portfolio with a high delta and low gamma

D : A portfolio with a low gamma

Answer: B

Question 2

By market convention, which of the following currencies are not quoted in terms of 'direct quotes' versus the USD?

A : EUR

B : EUR

C : KWD

Answer: A

Question 3

A currency with a lower interest rate will trade:

A : at a forward discount

B : at a forward premium

C : at the same prices for forwards as for the spots

D : cannot be determined solely on the basis of interest rates

Answer: B

Question 4

Two portfolios with identical Sharpe ratios will have

A : identical expected risk

B : identical expected risk and returns

C : returns identically proportionate to risk

D : identical expected returns

Answer: C

Question 5

What is the duration of a 10 year zero coupon bond. Assume the bond is callable (ie, the issuer can buy it back) at face value at any time during its existence.

A : 0 years

B : 5 years

C : 1 year

D : 10 years

Answer: D

Page: 1 / 58

Total 290 Questions | Updated On: May 24, 2026

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